Livestock owners are becoming conscious about feed intake by their livestock and are opting for clean label, natural, organic, and vegan ingredients. There is a growing demand for feed manufactured without using preservatives, artificial flavor, artificial colors, synthetic ingredients, antibiotics, or toxic pesticides.
Consequently, the demand for microalgae in animal feed sector will total US$ 57.54 Mn in 2021 and reach US$ 80.96 Mn in 2031, rising at a CAGR of 3.5%, finds Future Market Insights (FMI) in its latest study.
Microalgae are widely used as a natural colorant and flavor enhancer in animal feed applications. To replace synthetic nutritional ingredients, key players in the animal feed industry are shifting towards a number of microalgae species.
Rapid urbanization and higher disposable incomes are playing key role in expanding the demand for microalgae in the animal feed sector in emerging countries. Emerging markets are key to producers owing to the significant rise in animal husbandry and pet ownership.
Rapeseed and soybean meal are high protein foods that are commonly used for livestock and poultry. Spirulina platensis microalgae are used as a partial substitute with rapeseed and soybean meal. This formula increases milk and milk protein yield.
As feed intake is the most important element influencing milk production, improving the digestibility of microalgae to dairy cows has the potential to improve milk production. Therefore, animal feed manufacturers are utilizing spirulina microalgae as a substitute for rapeseed and soybean, pushing the growth of microalgae sales in animal feed formulations.
Key Takeaways from Demand for Microalgae in Animal Feeds Sector Market Study
- Spirulina accounts for around 39.0% of the total market share in 2021 and is expected to be dominant owing to a very high protein concentration.
- Freshwater microalgae in the animal feed sector accounted market value share of more than 80% in the year 2021 and will grow at a CAGR of 3.2%, owing to easier access.
- Poultry feed and swine feed applications hold more than 65% of the market share in the year 2021. Aquaculture feed will show lucrative growth with a CAGR of 5.1%.
- The U.S. will account for over 90% of sales in North America through 2031 aided by favourable government policy.
- Brazil holds more than 50% value share in Latin America, driven by demand from a massive animal husbandry industry.
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“Steady increase in livestock population and the rising demand for meat and dairy products, and concerns pertaining to healthier feed ingredients obtained from natural resources will fuel the demand for microalgae in feed formulations,” said a lead analyst at FMI.
Demand for Microalgae in Animal Feeds Sector by Category
By Species Type:
- Marine Water
- Fresh Water
By End Use Applications:
- Poultry Feed
- Swine Feed
- Cattle Feed
- Aquaculture Feed
- Equine Feed
- North America
- Latin America
- Asia Pacific
- Middle East and Africa (MEA)
Who is winning in Demand for Microalgae in Animal Feeds Sector?
Key players who are engaging in producing and supplying microalgae for animal feed applications are actively involved in changing market strategy, production capacity, and other developments for microalgae in the animal feed sector.
Some of the key players driving demand for microalgae in the animal feed sector 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., Valensa International, and Kunming Biogenic Co., Ltd.
Get Valuable Insights into Demand for Microalgae in Animal Feed Sector
Future Market Insights, in its new report, presents an unbiased analysis of the global demand for microalgae in animal feed sector, covering historical demand data and forecast figures for the period between 2021 and 2031. The study reveals compelling insights into the growth witnessed in the market. Based on the demand for microalgae in animal feed sector on basis of species type, has been classified as spirulina, chlorella, dunaliella, haematococcus, crypthecodinium, schizochytrium, euglena, nannochloropsis, phaedactylum and others. Based on sources, demand for microalgae in animal feed sector are classified as marine water and fresh water. Based on end use applications, demand for microalgae in animal feed sector is classified as poultry feed, swine feed, cattle feed, aquaculture feed, and equine feed. Regionally, demand for microalgae in animal feed sector covers North America, Latin America, Europe, Asia Pacific and the Middle East and Africa (MEA).