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.
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2016-2020 Demand for Microalgae in Animal Feed Sector Outlook in Comparison to 2021-2031 Growth ForecastDemand for microalgae the animal feed sector is increasing due to the rising demand for natural additives in animal feed, the popularity of astaxanthin and the rising global livestock population.
The market grew at a CAGR of 2.3% between 2016 and 2020. Forecasts for growth remain optimistic, with the market predicted to register a CAGR of 3.5% between 2021 and 2031.
In recent years, animal husbandry and aquaculture has witnessed remarkable growth. Demand for protein-rich food is causing this change. The quality of meat and meat products depends on animal feed. Feed manufacturers prefer high-quality, naturally derived ingredients to fill the demand from farmers or commercial livestock producers.
The United States Food and Drug Administration approved the usage of astaxanthin in animal feed and fish feed as additives. Various government entities and regulatory authorities, including the FDA and the EU, support the production and distribution of astaxanthin for a variety of applications, including animal feed and aqua-feed supporting the use of microalgae in animal feed formulations.
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Key Takeaways from 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.
Who is winning?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.
Demand for Microalgae in Animal Feeds Sector by CategoryBy 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)