Uncategorized
Demand for Microalgae in Pet Food Sector value is expected to reach US$ 35.5 Mn by 2031 and growing at a CAGR of 4.8% for 2021-31
Published by Uma Rajagopal
Posted on January 20, 2022
Global Banking and Finance Review
Company
Global Banking and Finance Review is an online platform offering news, analysis, and opinion on the latest trends, developments, and innovations in the banking and finance industry worldwide. The platform covers a diverse range of topics, including banking, insurance, investment, wealth management, fintech, and regulatory issues. The website publishes news, press releases, opinion and advertorials on various financial organizations, products and services which are commissioned from various Companies, Organizations, PR agencies, Bloggers etc. These commissioned articles are commercial in nature. This is not to be considered as financial advice and should be considered only for information purposes. It does not reflect the views or opinion of our website and is not to be considered an endorsement or a recommendation. We cannot guarantee the accuracy or applicability of any information provided with respect to your individual or personal circumstances. Please seek Professional advice from a qualified professional before making any financial decisions. We link to various third-party websites, affiliate sales networks, and to our advertising partners websites. When you view or click on certain links available on our articles, our partners may compensate us for displaying the content to you or make a purchase or fill a form. This will not incur any additional charges to you. To make things simpler for you to identity or distinguish advertised or sponsored articles or links, you may consider all articles or links hosted on our site as a commercial article placement. We will not be responsible for any loss you may suffer as a result of any omission or inaccuracy on the website.
Published by Uma Rajagopal
Posted on January 20, 2022
Separation anxiety is an increasingly common condition among pets, particularly among those of urban pet owners. Hectic lifestyle and stress often result in destructive behavior in pets such as shredding, incontinence, and excessive salivation. The efficacy of microalgae in controlling anxiety will support adoption in the long term. According to FMI’s research, the demand for microalgae in pet food sector will hit US$ 22 Mn in 2021, growing at a CAGR of 4.8% through 2031 end.
Travel, boarding, grooming, and visits to the veterinarian can be stressful for pets. Calming and sedative drugs, such as Prozac, can cause pets to become drowsy and lethargic. Pet pills containing microalgae can help alleviate anxiety without causing drowsiness or sluggishness. Microalgae-based pet supplements are becoming popular as they aid in the reduction of anxiety in pets.
The primary driver of the microalgae in the pet food sector market is the rising rate of pet ownership and the resultant demand for nondiscretionary and discretionary products including treats, toys, and other food products.
The increasing adoption of cats and dogs as companions for families is driving the pet food market. Japan for instance, has a larger number of pets as compared to the number of children under 15 years. Microalgae is a primary ingredient in the pet food. Consequently, rising pet adoption is fueling the demand for microalgae in pet food.
To Get Sample Copy of Report visit @ https://www.futuremarketinsights.com/reports/sample/rep-gb-13362
Key Takeaways from the Demand for Microalgae in Pet Food Sector Study:
“The clean label movement is gaining momentum in response to the rising demand for transparency regarding feed and food ingredients. The demand for microalgae in pet food formulations has grown due to increasing awareness about pet nutrition and health, with easy access to information. These factors will will drive long term growth,” said a lead analyst at FMI.
Naturally Derived Ingredients in Pet Food Market Drives Expansion
Consumers have become more attentive towards pet food and ingredients use than ever before. As natural and organic options become a popular choice for human food, an increasing number of pet owners are looking for similar attributes in food for their pets.
Customers expect pet food that is free of preservatives, artificial colors, and flavors, in addition to checks on toxic pesticides, antibiotics, and synthetic hormones. As a result, naturally derived ingredients such as microalgae are in high demand in pet food and animal feed.
Who is Winning?
To increase penetration in untapped markets, major companies are focusing on product development strategies. Key players operating in the global market also focusing on mergers and acquisitions with the local manufacturers to reach emerging markets such as India, China, and Brazil.
Some of the leading companies offering microalgae in the pet food sector are DIC Corporation, Koninkliijke DSM NV, Roquette Frères, Sun chlorella, Cellana LLC, Fuji Chemical Industries Co., Ltd., Corbion (TerraVia Holdings), Yunnan Green-A-Bio-engineering Co Ltd., Buggypower, Algatec (Lusoamoreiras), Cyanotech Corporation, BASF SE, Parry Nutraceuticals, Beijing Gingko Group, KDI Ingredients, Sinoway Industrial Co. Ltd and others.
Get Valuable Insights into Demand for Microalgae in Pet Food Sector
Future Market Insights, in its new offering, provides an unbiased analysis of the demand for microalgae in pet food sector presenting historical demand data (2016-2020) and forecast statistics for the period from 2021-2031. The study divulges compelling insights on the demand for microalgae in pet food sector based on species type (spirulina, chlorella, dunaliella, haematococcus, crypthecodinium, schizochytrium, euglena, nanochloropsis, phaedactylum, and others), by source (marine water and fresh water), and by end use application (dog feed, cat feed, birds and others) across five major regions.
For Complete TOC @ https://www.futuremarketinsights.com/toc/rep-gb-13362
Key Points Covered in Demand for Microalgae in Pet Food Sector Study
Key Questions Answered in the Report
The demand for microalgae in the pet food sector is projected to grow at a CAGR of 4.8% from 2021 – 2031.
Microalgae in the pet food sector market is estimated to be valued at US$ 22.1 Mn in 2021.
In 2021 the microalgae in pet food sector market accounted for 1653 DW tons.
Between 2016 and 2020, the demand for microalgae in pet food sector grew at a CAGR of 4%.
The top 5 players of the microalgae in pet food sector market are Koninkliijke DSM NV, Fuji Chemical Industries Co., Ltd., Yunnan Green-A-Bio-engineering Co Ltd., Sun chlorella, and DIC Corporation. These companies cumulatively account for 55-60% of the global market.
The North America demand for microalgae in pet food sector is expected to grow at a moderate CAGR of 3.9%.
The demand for microalgae in pet food sector is forecast to grow at a 4.5% CAGR through 2031 in Europe.
In 2020 – 2021, the y-o-y growth of the demand for microalgae in the pet food sector hit 7%.
In 2021, the China and Japan will account for 52.4% and 11.9% of the East Asia market respectively.
Use of pet supplements to reduce anxiety in pets, year-round harvesting, naturally-derived ingredients, preference for quality, and increasing demand from pet owners, cattle farmers, and hobbyists concerning the advantages of microalgae in animals feed are the key trends observed in the market.
About 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, the global financial capital, and has delivery centers in the 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: sales@futuremarketinsights.com
For Media Enquiries: press@futuremarketinsights.com
Website: https://www.futuremarketinsights.com
Separation anxiety is an increasingly common condition among pets, particularly among those of urban pet owners. Hectic lifestyle and stress often result in destructive behavior in pets such as shredding, incontinence, and excessive salivation. The efficacy of microalgae in controlling anxiety will support adoption in the long term. According to FMI’s research, the demand for microalgae in pet food sector will hit US$ 22 Mn in 2021, growing at a CAGR of 4.8% through 2031 end.
Travel, boarding, grooming, and visits to the veterinarian can be stressful for pets. Calming and sedative drugs, such as Prozac, can cause pets to become drowsy and lethargic. Pet pills containing microalgae can help alleviate anxiety without causing drowsiness or sluggishness. Microalgae-based pet supplements are becoming popular as they aid in the reduction of anxiety in pets.
The primary driver of the microalgae in the pet food sector market is the rising rate of pet ownership and the resultant demand for nondiscretionary and discretionary products including treats, toys, and other food products.
The increasing adoption of cats and dogs as companions for families is driving the pet food market. Japan for instance, has a larger number of pets as compared to the number of children under 15 years. Microalgae is a primary ingredient in the pet food. Consequently, rising pet adoption is fueling the demand for microalgae in pet food.
To Get Sample Copy of Report visit @ https://www.futuremarketinsights.com/reports/sample/rep-gb-13362
Key Takeaways from the Demand for Microalgae in Pet Food Sector Study:
“The clean label movement is gaining momentum in response to the rising demand for transparency regarding feed and food ingredients. The demand for microalgae in pet food formulations has grown due to increasing awareness about pet nutrition and health, with easy access to information. These factors will will drive long term growth,” said a lead analyst at FMI.
Naturally Derived Ingredients in Pet Food Market Drives Expansion
Consumers have become more attentive towards pet food and ingredients use than ever before. As natural and organic options become a popular choice for human food, an increasing number of pet owners are looking for similar attributes in food for their pets.
Customers expect pet food that is free of preservatives, artificial colors, and flavors, in addition to checks on toxic pesticides, antibiotics, and synthetic hormones. As a result, naturally derived ingredients such as microalgae are in high demand in pet food and animal feed.
Who is Winning?
To increase penetration in untapped markets, major companies are focusing on product development strategies. Key players operating in the global market also focusing on mergers and acquisitions with the local manufacturers to reach emerging markets such as India, China, and Brazil.
Some of the leading companies offering microalgae in the pet food sector are DIC Corporation, Koninkliijke DSM NV, Roquette Frères, Sun chlorella, Cellana LLC, Fuji Chemical Industries Co., Ltd., Corbion (TerraVia Holdings), Yunnan Green-A-Bio-engineering Co Ltd., Buggypower, Algatec (Lusoamoreiras), Cyanotech Corporation, BASF SE, Parry Nutraceuticals, Beijing Gingko Group, KDI Ingredients, Sinoway Industrial Co. Ltd and others.
Get Valuable Insights into Demand for Microalgae in Pet Food Sector
Future Market Insights, in its new offering, provides an unbiased analysis of the demand for microalgae in pet food sector presenting historical demand data (2016-2020) and forecast statistics for the period from 2021-2031. The study divulges compelling insights on the demand for microalgae in pet food sector based on species type (spirulina, chlorella, dunaliella, haematococcus, crypthecodinium, schizochytrium, euglena, nanochloropsis, phaedactylum, and others), by source (marine water and fresh water), and by end use application (dog feed, cat feed, birds and others) across five major regions.
For Complete TOC @ https://www.futuremarketinsights.com/toc/rep-gb-13362
Key Points Covered in Demand for Microalgae in Pet Food Sector Study
Key Questions Answered in the Report
The demand for microalgae in the pet food sector is projected to grow at a CAGR of 4.8% from 2021 – 2031.
Microalgae in the pet food sector market is estimated to be valued at US$ 22.1 Mn in 2021.
In 2021 the microalgae in pet food sector market accounted for 1653 DW tons.
Between 2016 and 2020, the demand for microalgae in pet food sector grew at a CAGR of 4%.
The top 5 players of the microalgae in pet food sector market are Koninkliijke DSM NV, Fuji Chemical Industries Co., Ltd., Yunnan Green-A-Bio-engineering Co Ltd., Sun chlorella, and DIC Corporation. These companies cumulatively account for 55-60% of the global market.
The North America demand for microalgae in pet food sector is expected to grow at a moderate CAGR of 3.9%.
The demand for microalgae in pet food sector is forecast to grow at a 4.5% CAGR through 2031 in Europe.
In 2020 – 2021, the y-o-y growth of the demand for microalgae in the pet food sector hit 7%.
In 2021, the China and Japan will account for 52.4% and 11.9% of the East Asia market respectively.
Use of pet supplements to reduce anxiety in pets, year-round harvesting, naturally-derived ingredients, preference for quality, and increasing demand from pet owners, cattle farmers, and hobbyists concerning the advantages of microalgae in animals feed are the key trends observed in the market.
About 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, the global financial capital, and has delivery centers in the 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: sales@futuremarketinsights.com
For Media Enquiries: press@futuremarketinsights.com
Website: https://www.futuremarketinsights.com