Demand for Microalgae in Animal Feeds Sector is forecast to expand at 3.5% CAGR between 2021 and 2031

Research Reports

Posted on January 20, 2022

As per a latest Future Market Insights (FMI) analysis, the demand for microalgae in animal feed sector will top US$ 57.5 Mn in 2021. The overall market is forecast to expand at 3.5% CAGR between 2021 and 2031, reaching a valuation of US$ 80.9 Mn by 2031 end. Growing population, rising demand for animal products, and increasing adoption of pets are some of the factors fuelling the demand for microalgae in animal feed sector.

Rapid urbanization, rising disposable income, and growing awareness regarding benefits of natural antibiotics such as astaxanthin are positively impacting the sales of microalgae products.

Increasing consumption of animal proteins also is creating opportunities for sales of high quality fish and animal feed to derive healthy source of proteins for humans. As a result, microalgae products are gaining traction.

The rise in global population has led to the exploration of alternative sources of energy and food. Microalgae supplements not only benefit animal diets but also add value to the end products. The inclusion of microalgae in animal diets improves overall yield in animals.

Request a report sample to gain compressive insights at https://www.futuremarketinsights.com/reports/sample/rep-gb-13683

Adoption of microalgae as feed ingredients is increasing, especially as a renewable alternative to traditional counterparts such as corn and soybean. It has been found that microalgae have anti-oxidant, anti-microbial and diseases preventing properties that can increase the lifespan of animals and fishes. As a result, they are being increasingly adopted in animal feed.

According to FMI, the surging demand for microalgae products across aquaculture and poultry industries will create scope for the expansion of the market during the forecast period.

Spirulina will lead the market in terms of species type. It is expected to account for a market share of around 39% in 2021. This can be attributed to its highly nutritional properties. North America is one of the leading regions, exhibiting high demand for microalgae. It is expected to account for 36.1% of the global microalgae sales in animal feed sector in 2021.

“Growing demand for meat and dairy products to cater to the consistently increasingly population will continue to fuel the demand for microalgae in the animal feed sector,” says the FMI analyst.

Key Takeaways from Demand for Microalgae in Animal Feed Market Survey

The U.S. will account for over 92% of sales in North America through 2031.
Owing to the increasing sales of meat protein products, the demand for microalgae in Germany animal feed sector is expected to surpass a valuation of US$ 2.5 Mn in 2021.
Brazil holds more than 52% value share in Latin America, driven by demand from a massive animal husbandry industry.
Spirulina with its high nutritional properties account for more than 39% of the global market in 2021.
Freshwater microalgae accounted for 82% of global demand for microalgae in animal feed sector in 2021.

Key Drivers

Growing demand for meat and dairy products is bolstering the demand for microalgae in the animal feed sector.
Rising awareness regarding the benefits of microalgae-based animal feed products is aiding the growth of the market.
High adoption of microalgae products in aquaculture and poultry industry will further escalate the demand.

Key Restraints

Availability of substitutes is hampering the demand for microalgae in the animal feed sector.
High cost of microalgae-based animal feed also restraints the demand to some extent.

Our advisory services are aimed at helping you with specific, customized insights that are relevant to your specific challenges. Let us know about your challenges and our trusted advisors will connect with you: https://www.futuremarketinsights.com/ask-question/rep-gb-13683

Competitive Landscape

Key companies operating in the microalgae industry are aiming at developing new products. They have adopted various strategies such as mergers and acquisitions, development of new products and collaborations to gain a competitive edge in the market.

In July 2021, AstaReal AB, part of the AstaReal Group introduced its astaxanthin brand NOVASTA in the European Market, to support optimal health and nutrition for a variety of animals. NOVASTA is rich in natural astaxanthin, carotenoids, proteins, carbohydrates and essential fatty acids.
In July 2019 DSM, a global science-based company in nutrition, health and sustainable living, together with Evonik inaugurated their Veramaris 50-50 joint venture’s commercial-scale US$ 200 million production facility in Blair, Neb. (USA. This new site will begin commercial production of omega-3 fatty acids rich EPA and DHA from natural marine algae for sustainable salmon farming.

Some of the prominent players operating in the demand for microalgae in animal feds sector market profiled by FMI are:

DIC Corporation
Cyanotech Corporation
Koninkliijke DSM NV
Roquette Frères
BASF SE
Fuji Chemical Industries Co., Ltd
Parry Nutraceuticals
BGG (Beijing Gingko Group)
KDI Ingredients
Sinoway Industrial Co., ltd.
INNOBIO Corporation Limited
Yunnan Alphy Biotech Co., Ltd.
Algaecan Biotech Ltd.
Algatechnologies Ltd.
Cardax, Inc.,
Igene Biotechnology, Inc.
Fenchem Biotek Ltd.
AstaReal Inc.,
Others

More Insights on the Demand for Microalgae in Animal Feed Sector Sales Outlook

FMI provides an unbiased analysis of demand for microalgae in animal feed sector market, presenting historical demand data (2016-2020) and forecast statistics for the period from 2021-2031. The study divulges compelling insights on the global demand for microalgae in animal feed sector with a detailed segmentation on the basis of:

By Species Type:

Spirulina
Chlorella
Dunaliella
Haematococcus
Crypthecodinium
Schizochytrium
Euglena
Nannochloropsis
Phaedactylum
Others

By Source:

Marine Water
Fresh Water

By End Use Applications:

Poultry Feed
Swine Feed
Cattle Feed
Aquaculture Feed
Equine Feed

By Region:

North America
Latin America
Europe
Asia Pacific
Middle East and Africa (MEA)

Contact Sales for Further Assistance in Purchasing this Report@ https://www.futuremarketinsights.com/checkout/13683

Key Questions Covered in the Demand for Microalgae in Animal Feed Sector Sales Outlook Report

The report offers insight into demand for microalgae in animal feed sector demand outlook for 2021-2031
The market study also highlights projected sales growth for demand for microalgae in animal feed sector market between 2021 and 2031
Demand for microalgae in animal feed sector survey identifies key growth drivers, restraints, and other forces impacting prevailing trends and evaluation of current market size and forecast and technological advancements within the industry
Demand for microalgae in animal feed sector share analysis of the key companies within the industry and coverage of strategies such as mergers & acquisitions, joint ventures, collaborations or partnerships, and others

About Future Market Insights (FMI):

Future Market Insights (FMI) is a leading provider of market intelligence and consulting services, serving clients in over 150 countries. FMI is headquartered in Dubai, and has delivery centers in the UK, U.S. and India. FMI’s latest market research reports and industry analysis help businesses navigate challenges and make critical decisions with confidence and clarity amidst breakneck competition. Our customized and syndicated market research reports deliver actionable insights that drive sustainable growth. A team of expert-led analysts at FMI continuously tracks emerging trends and events in a broad range of industries to ensure that our clients prepare for the evolving needs of their consumers.

Contact Us:

Future Market Insights
Unit No: AU-01-H Gold Tower (AU), Plot No: JLT-PH1-I3A,
Jumeirah Lakes Towers, Dubai,
United Arab Emirates
For Sales Enquiries: [email protected]
For Media Enquiries: [email protected]
Website: https://www.futuremarketinsights.com