Market Research Blog – Page 1710 – New Product Development

Cultivating Growth Vegan Yogurt Market’s Journey to USD 11.7 Billion by 2033 | Future Market Insights Inc.

The vegan yogurt market is anticipated to thrive at a steady CAGR of 5.8% between 2023 and 2033. The market is anticipated to cross a valuation of USD 11.7 billion by 2033, while it is valued at USD 6.7 billion in 2023.

The rising vegan movement all over the world is contributing to the higher production and sales of vegan consumables, such as yogurt and milk. These products are there to replace dairy products.

Vegan yogurt’s popularity with its health benefits provided by higher fiber, calcium, and protein levels is flourishing in its sales.

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A big chunk of the urban population that doesn’t follow a vegan diet also tries vegan Yogurt because of its taste and health benefits. Vegan yogurt is treated as a superfood that is provided in some urban settings.

A section of lactose intolerant people also consume vegan yogurt to fulfill their nutritional requirements, while not comprising their vegan diet.
Social media and internet trends around veganism are pushing the masses to try the vegan diet once. Furthermore, the exceptional campaigns and top-notch advertising has also helped the vegan yogurt companies in selling products.

Key Points

The United States market is another significant market. The market is anticipated to cross a value of US$ 803.6 million by 2033. The regional market is expected to thrive at a CAGR of 5.4% between 2023 and 2033. The growth is attributed to rising veganism and anti-diary movements.

The China vegan yogurt market leads in terms of CAGR and market share. It is expected to thrive at a leading CAGR of 6.9% during the forecast period. The market is likely to reach a value of US$ 5.6 billion by 2033. Growing demand for vegan products, along with the increased lactose intolerant population, is flourishing the sales of vegan yogurt in China

Almond yogurt is likely to thrive in the product category due to its easy availability and high nutritional value. It is expected to thrive at a CAGR of 6.6% during the forecast period.
The household segment tops the end-use category with a CAGR of 3.8% between 2023 and 2033. The growth is attributed to its benefits in the daily diet through increased consumption.

Competitive Landscape

The global vegan yogurt market is highly fragmented, and the leading players are launching high-quality, nutrient-dense products to the market. Furthermore, rising demand has prompted players to expand their production capacity, allowing them to cater to a wider range of tastes and preferences while maintaining nutritional value. Some recent developments include

Market Developments

Epigamia, an Indian startup, announced the debut of a dairy-free coconut milk-based yogurt variety that is unsweetened specifically to meet the needs of Indian consumers.
Danone has introduced its vegan yogurt under its essential dairy and plant-based products. The product is produced through almond milk and coconut milk.

Key Players

Stonyfield Farm, Inc.
KaTech
Epigamia
NANCY’S
Daiya Foods Inc
Kite Hill
Chobani, LLC
COYO Pty Ltd.

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Key Segments

By Product Type:

Soy Milk Yogurt
Coconut Milk Yogurt
Almond Milk Yogurt
Rice Milk Yogurt

By Flavor:

Chocolate
Strawberry
Banana
Pineapple
Mango
Lemonade
Peach

By End Use:

HORECA
Household

By Sales Channel:

Offline Sales Channel
- Supermarkets/Hypermarkets
- Departmental Stores
- Convenience Store
- Other Sales Channel
Online Sales Channel
- Company Website
- E-commerce Platform

By Region:

North America
Latin America
Europe
Asia Pacific (APAC)
The Middle East & Africa (MEA)

About Future Market Insights (FMI)

Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.

Contact Us:

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T: +1-845-579-5705
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Website: https://www.futuremarketinsights.com
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Global Dried Eggs Market Set for 9% CAGR Through 2033 | Future Market Insights Inc.

The global dried eggs market is expected to experience remarkable growth from 2023 to 2033, with projections from Future Market Insights indicating a valuation surpassing USD 2,080 million in 2023 and anticipated growth to USD 4,719.6 million by 2033. This growth trajectory reflects a notable compound annual growth rate (CAGR) of 9% during the forecast period.

Several developing countries such as Argentina, Brazil, and India and making a significant shift from carbohydrate-based foods (rice, grains, and grains) to protein-based foods (fish, eggs, meat) with different consumption patterns. This factor alone has a significant impact on the food market and stimulates demand for eggs and egg-based products, driving the import and export of dried eggs worldwide.

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Key Takeaways

Egg allergy is known as the second most common food allergy among infants and young children. Various studies have shown that egg allergy is based on self-reported food allergies that tend to exaggerate prevalence. In addition to IgE-mediated allergies, egg proteins can also cause non-IgE-mediated and mixed Ige-mediated and non-IgE-mediated reactions. Atopic dermatitis and eosinophilic gastroenteropathy are two diseases that fall into this category.
This results in a negative impact on the market and also leads to a significant decrease in demand. Furthermore, high tariffs on imported consumer goods also heightened the price of eggs and egg products, making it difficult for consumers to purchase imported dried egg products from the market.

Egg whites are predicted to be dried in several ways including freeze-drying or hot air drying and can be stored at 2540°C for about 4 months. The gelling properties obtained during storage can result in higher protein morphology and better color in the final product.
Some of the common problems that have been associated with fresh eggs are ingestion, which is expected to cause salmonella bacteria, and secondly, food waste can occur due to the short shelf life. The high use of dried eggs in the food industry is because the product is pasteurized and can easily be substituted for fresh eggs at any time in any recipe by adding water or other food products. Alternatively, you can use it to add molds to cookie dough or make any type of custard.

Competitive Landscape

Key market players focus on the personalization of dry egg products without forgetting laws and regulations. Eggs have different regulations from country to country.

Key Companies Profiled are Interovo Egg Group BV, Sanovo Technology A/S, Agroholding Avangard, Kewpie Corporation, Rose Acre Farms, Rembrandt Enterprises, Michael Foods, Inc., Ballas Egg Products Corp., Henningsen Foods, Wulro BV

Recent Developments Observed by FMI:

In February 2022, Ovation Foods launched Eggsentials, the company’s new shelf-stable dried whole-egg bead. The new product was launched to add a nutrient boost to consumption.
In February 2022, Japan’s top-fifth largest egg producer, Ise-Suzuki Egg, entered India market. The company started operations beginning with the production of egg lakh eggs per month, scaling it every six months.

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Dried Eggs Market Segmentation

By Product Type:

Whole Eggs
Egg Whites
Egg Yolk

By End-use Application:

Food Processing Industry
- Bakery & Confectionery
- Creamy Sauces
- Ice cream and Frozen Desserts
- Mayonnaise
- Noodles & Pasta
- Salad Dressings
- Others
Food Service Providers
Retail/Households
- Convenience Stores
- Discount Stores
- Modern Trade
- Grocery Stores
- Online Retail
- Specialty Food/Sports Stores
- Wholesalers
- Other Sales Channels

By Region:

North America
Latin America
Europe
East Asia
South Asia
Oceania
The Middle East & Africa (MEA)

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Ready To Drink (RTD) Tea Market’s Surge to USD 72.9 Billion by 2033

The ready-to-drink (RTD) tea market is registering a valuation of USD 34.3 Billion in 2023 and is estimated to reach USD 72.9 Billion by 2033. The market is capturing a CAGR of 8% during the forecast period.

Growing Popularity of Green Tea:

People are fond of green tea, which is increasing the global market during the forecast period. The rising consumer awareness of health benefits and weight control with antioxidant properties is fueling the global market. Therefore, many consumers are adopting green tea into their daily routines.

The increasing demand for portable and convenient ready-to-eat drinks drives the global market. Consumers enjoy their cups of ready-to-drink tea with natural ingredients that promote sustainability and reduce toxicity. The changing consumer’s lifestyle, busy schedules, and easy-to-drink changing habits are increasing the adoption of ready-to-drink tea.

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Increasing demand for organic, natural, and various flavored ready-to-drink tea drives the global market. The manufacturers offer ready-to-drink green tea in various flavors, including herbs, fruits, and spices. According to taste and habit, consumers can find their preferred tea.

The growing awareness of healthy digestion, an active body, and better stamina, the demand for green tea is flourishing in the global market. Growing innovations, research and development activities, and promoting sustainability are advancing the global market.

Key Takeaways:

The ready-to-drink (RTD) tea market is predicted to register a CAGR of 8% with a valuation of US$ 72.9 Billion in 2033.
In the historical period, the market secured a valuation of US$ 33.0 Billion in 2022.
The United States is estimated to lead the global market by securing a share of 2.7% by 2033.
Germany is significantly growing the global market size by capturing a share of 4.9% during the forecast period.
With a share of 3.2%, Japan is anticipated to drive the global market during the forecast period.
Australia is projected to capture a share of 2.7% in the global market by 2033.

How Key Players are Advancing the Global Market?

Key players are advancing the global market through various steps such as:

Product Innovation: Key players focus on providing innovative and unique products that attract consumers’ requirements. These key players are introducing fresh flavor products such as herbs, spices, and tea products with natural ingredients with health benefits.
Marketing and Branding: Key players are expanding their business through marketing and branding their products on various channels. These channels include online platforms, retail shops, and social media campaigns. Through these, relevant audiences can connect quickly and increase their sales volume.
Packaging and Convenience: Key players invest in simple, convenient, attractive packaging. This packaging can preserve goods for long life without toxicity and harmful chemicals.
Focus on Wellness and Health: With rising consumer demand for healthy drinks and ready-to-drink, key players develop functional ingredients. These functional ingredients include vitamins, antioxidants, and adaptogens, advancing market growth.

Recent Developments:

Coca-Cola is a significant company that offers ready-to-drink tea. Recently, the company launched Gold Peak, Honest Tea, and Fuze Tea to expand its business portfolio.
Arizona Beverage Company launched its new ready-to-drink tea, Arnold Palmer Half & Half. The company expands its business portfolio through online platforms and distribution channels.

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Market by Categorization:

By Product Types:

Herbal
Black tea
Green tea
Others

By Sales Channel:

Direct Sales
Indirect Sales

By Region:

North America
Europe
Latin America
Asia Pacific
Middle East Africa

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Forecasting the Expansion of the Duckweed Protein Market to USD 205.8 Million by 2033

The global market for duckweed protein is expected to achieve a valuation of USD 87.7 million by 2023, with an anticipated CAGR of 8.9% from 2023 to 2033. By the conclusion of 2033, total sales of duckweed protein are projected to reach USD 205.8 million.

Health is a key motivator, encouraging people to switch to a plant-based diet. Consumers are willing to switch meat or dairy a few times a week for a broader variety of plant foods if a manufacturer offers a varied diet comprising a wide variety of fruits, vegetables, legumes, and pulses that has higher nutrition than meat.

Hence, the demand for duckweed protein is expected to increase over the forecast period. An increasing number of consumers want merchants and manufacturers to take the lead in expanding their product offerings and becoming more customer-focused. This initiative has been noticed, particularly in wealthy countries. The overall number of new product launches in the duckweed protein market.

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Labeling has become a significant component of this transition process, with producers promoting and labelling their products to make them appear more desirable and appealing to consumers.

“With growing consumption of plant-based protein and rising vegan trend, the demand for high protein food such as duckweed is accelerating across the globe.” said a lead analyst at FMI.

Who is winning?

Plant-based protein products are expected to see an increase in demand, especially from the fitness industry, according to Future Market Insights. Hence, key players are likely to enhance their manufacturing capacity and capabilities by embracing cutting-edge technologies.

Some of the leading companies offering duckweed protein are Parabel USA Inc., Pontus Water Lentils, Barentz B.V., Hinoman, Ltd, Plantible Foods, Inc. Lempro Inc., Seta Organics and others.

Recent Developments:

In October 2022, Viachem, Ltd, a specialty distributor of life science ingredients and specialty chemicals was acquired by Barentz International, a global life science ingredients distributor.
Recently, Plantible Foods closed its Series A round with US$ 21.5 million. The company also announced that it will soon be launching a new duckweed-based protein to meet growing end user demand.

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Global Duckweed Protein Industry Segmentation

By Forms:

Fresh
Dried

By Species:

Wolffiella
Spiro Dela
Lemna

By End Use:

Food processing
Animal and Fish feed
Others

By Region:

North America
Latin America
Europe
East Asia
South Asia
Oceania
Middle East & Africa

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What Triggers Bigger Lymph Nodes Under Armpit?

Bigger lymph nodes under the underarm can be a reason for issue. While this problem can usually be an indicator of a small infection, it can likewise signify a more significant underlying health concern. Recognizing the possible root causes of enlarged lymph nodes in the underarm can aid people make informed decisions regarding their health. This post discovers a few of the typical reasons for this problem and gives valuable understandings for those looking for responses.

Infections

Infections are just one of one of the most typical root causes of diaform+ enlarged lymph nodes under the underarm. When the body senses an infection, it sends out lymphocytes, a kind of leukocyte, to fight off the invading virus. As a result, the lymph nodes in the afflicted location can end up being bigger as they gather and refine the germs or viruses.

Some common infections that can cause enlarged lymph nodes in the underarm include:

1. Bacterial Infections: Infections such as cellulitis, which is a skin infection, can cause enlarged lymph nodes in the underarm.
2. Viral Infections: Viral infections like the cold, flu, or mononucleosis can trigger lymph nodes to swell.
3. Fungal Infections: Certain fungal infections, such as histoplasmosis, can additionally result in enlarged lymph nodes in the underarm.

If an infection is the source of the bigger lymph nodes, dealing with the underlying infection needs to help in reducing the swelling.

Autoimmune Disorders

Autoimmune problems are one more potential root cause of enlarged lymph nodes under the armpit. In these conditions, the immune system erroneously strikes healthy and balanced cells ottomax cena and cells, triggering swelling throughout the body. This inflammation can result in inflamed lymph nodes, including those in the armpit.

Some autoimmune problems that might create bigger lymph nodes include:

1. Rheumatoid Joint inflammation: This chronic inflammatory disorder can cause lymph nodes in different parts of the body, consisting of the underarm, to end up being bigger.
2. Lupus: Lupus is an autoimmune disease that can cause systemic inflammation and inflamed lymph nodes.
3. Sjögren’s Syndrome: This body immune system condition can cause enlargement of the lymph nodes under the armpit.

Handling the underlying autoimmune disorder with appropriate clinical therapy can aid reduce the signs, consisting of puffy lymph nodes.

Cancer cells

In some cases, enlarged lymph nodes under the underarm can be a sign of cancer cells. Cancer cells can spread via the lymphatic system, triggering the neighboring lymph nodes to come to be bigger. While various kinds of cancer can influence the lymph nodes, some common examples consist of breast cancer, lymphoma, and leukemia.

If cancer is presumed as the cause of bigger lymph nodes, it is essential to seek medical focus without delay. Early discovery and therapy can dramatically enhance outcomes.

Other Possible Causes

In addition to infections, autoimmune conditions, and cancer cells, there are various other potential reasons for enlarged lymph nodes under the underarm. These include:

1. Allergies: Serious allergies can set off the enlargement of lymph nodes, including those in the armpit.
2. Adverse Effects of Injections: Sometimes, vaccinations can cause momentary swelling of lymph nodes, which normally subsides within a couple of weeks.
3. Inflammatory Breast Problems: Particular inflammatory breast conditions, such as hidradenitis suppurativa or mastitis, can cause swollen lymph nodes.

If enlarged lymph nodes continue, grow larger, or are come with by various other worrying signs and symptoms, it is vital to consult a medical care professional for an appropriate diagnosis and ideal treatment.

To conclude, bigger lymph nodes under the armpit can be brought on by a variety of aspects, varying from minor infections to extra severe health and wellness problems like autoimmune conditions or cancer cells. Examining accompanying signs and seeking clinical suggestions can help identify the underlying cause and overview suitable therapy.

Asia Pacific Tomato Seed Oil Market Projected to Reach USD 124.6 Million by 2033, Says FMI

The Asia Pacific tomato seed oil market is set for remarkable growth in the coming years. Projections indicate a value of US$ 62 million by 2023, with a steady 7% annual growth rate.

By 2033, the market is expected to reach a substantial valuation of US$ 124.6 million, reflecting its widespread adoption and significant impact across industries.

In recent years, the Asia Pacific region has witnessed a burgeoning trend in using tomato seed oil, a versatile and nutrient-rich ingredient. Derived from the seeds of ripe tomatoes, this oil has found its way into various industries, including skincare, culinary, and wellness.

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Consumers are becoming more conscious about the ingredients they apply to their skin, seeking natural alternatives that offer both nourishment and effectiveness.

With its high levels of antioxidants, vitamins, and fatty acids, Tomato seed oil has gained popularity for its potential to promote healthy and radiant skin, auguring well for the market demand analysis.

Beyond skincare, tomato seed oil has also made its mark in the culinary world. Renowned for its unique flavor profile and nutritional value, the oil has become a sought-after ingredient in the kitchens of food enthusiasts and chefs alike, indicating its wide application, thereby fostering the market growth.

The Asia Pacific region, known for its diverse culinary heritage, has embraced tomato seed oil in traditional and fusion cuisines. Its rich umami flavor and the health benefits derived from lycopene and other beneficial compounds have made it a favored choice among health-conscious individuals.

With the increasing focus on incorporating natural and nutrient-dense ingredients into everyday meals, the demand for tomato seed oil as a culinary delight is anticipated to grow significantly in the coming years.

While the Asia Pacific tomato seed oil market continues to experience remarkable growth, it has its challenges.

One of the primary challenges is the competition from other natural oils and ingredients in the skincare and culinary sectors. Manufacturers must differentiate their tomato seed oil products by highlighting their unique qualities, nutritional value, and potential health benefits.

The rise of e-commerce platforms and digital marketing has opened new avenues for market growth. Manufacturers are capitalizing on these channels to reach a broader consumer base, promoting the benefits and applications of tomato seed oil.

Key Takeaways:

Based on the form, the unrefined sub-segment was predicted to account for 76.6% in 2022.
During the forecast period, the Asia Pacific tomato seed oil market in China is likely to secure a 9.4% CAGR.
The market in India is projected to move forward at a growth rate of 9.5% from 2023 to 2033.
The cosmetic industry is at the forefront of the application category, with a share of 59.9% in 2022.
Based on the distribution channel, the indirect sales sub-segment seized a 75.3% value share in 2022.

What are Various Aspects of the Competition Landscape in the Asia Pacific Tomato Seed Oil Industry?

The competition landscape in the Asia Pacific tomato seed oil industry is characterized by several key aspects that influence market dynamics and players’ strategies.

The tomato seed oil market in the Asia Pacific features a diverse range of market players, including both established companies and emerging players. These companies compete based on product quality, brand reputation, pricing, distribution networks, and innovation.

To gain a competitive edge, companies focus on product differentiation. They offer unique formulations, organic or natural variants, specialized packaging, and value-added features to attract customers. Product differentiation allows companies to cater to specific consumer preferences and carve out their market niche.

Companies invest in research and development activities to enhance their product offerings and stay competitive.

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Market by Category

By Form:

Refined
Unrefined

By Nature:

Organic
Conventional

By Distribution Channel:

Direct sales
Indirect Sales
- Grocery Retailers
- Hypermarket/Supermarket
- Convenience Stores
- Wholesalers
- Food and drink Specialty
- Health and Wellness Stores
- Online Retailer
- Other Retail Format

By End Use:

Food Service
Food and Beverages
- Bakery
- Confectionary
- Dressing and Condiments
- Sauces and Spreads
- Ready Meals
- Beverage Processing
- Others
Cosmetic Industry
- Skin Care
- Lip Care
- Hair Care
- Cosmetic
- Aromatherapy
Industrial
Animal Feed
Dietary Supplements

By Packaging:

Aseptic
Pouches
Bottles
Jerry Cans
Tin Plate Containers

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Website: https://www.futuremarketinsights.com
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Cat Food Market to Exceed USD 60.9 Billion by 2033 with a 3% Annual Growth Rate, Reports Future Market Insights Inc.

The cat food market is forecast to expand at 3% CAGR over the estimated period, as per FMI’s analysis. The industry’s size is predicted to reach a market value of US$ 44,744 million in 2023.

The government’s role influences the cat food industry in regulating the available cat food in the countries. Companies are investing more in cat food to meet the specific requirements of cats’ diets.

Increasing consumer willingness to purchase premium products for their cats is leading firms to create a line of premium products. These products contain more nutrition and enhance the living conditions of pets, thus fueling market growth. Consumers are increasingly adopting pets, driving the trend of pet food premiumization, thus reflecting a positive market outlook in the years to come.

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The demand for cat food is also rising on account of more people opting for no kids, thus propelling a trend toward pets as a substitute. Additionally, a surge in dual-income families and old-age couples is leading to a higher cat adoption rate.

Cat food manufacturers are also shifting toward developing vegan cat food to end the ethical dilemma of vegetarians and the vegan population. Manufacturers are enhancing their production units and diversifying cat food to meet the emerging demands of pet owners.

The availability of cat food on e-commerce sites has led to consumers’ ability to buy foods without any physical barrier. Customers can compare and evaluate the prices and benefits of the products from the comfort of their homes before making a purchase.

Top Highlights from this Market:

The United States cat food industry is projected to be more than 32% in 2023.
In the year 2022, the German cat food industry gained a market value of 10%.
The Japanese cat food industry is expected to gain more than 0.8% market share in the coming years.
The United Kingdom cat food industry is projected to expand at 7.5% CAGR over the forecast period.
The Chinese cat food industry is anticipated to expand at a CAGR of 6.7% over the forecast period.
The India cat food industry is expected to register a CAGR of 4.5% in the next ten years.
Based on nature, the conventional segment acquired a maximum market share of 75% in 2022.
Based on the source, the animal-derived segment gained 68.60% market share in 2022.
Under the product type category, the kibble/dry category formed 35% of the overall market.
Based on pet type, the kitten segment gained a 35% market share in 2022.

Key Players in the Market are Evanger’s Dog & Cat Food Company, Inc., Mars Incorporated, Purina, Hill’s Pet Nutrition, Affinity Petcare SA, Nutro Products Inc., Dave’s Pet Food, Boulder Dog Food Company, Rollover Pet Food Ltd., Real Pet Food Company Pty Ltd, Freshpet, Burgess Group PLC, Nature’s Variety, Fromm Family Foods LLC, JustFoodForDogs, The J.M. Smucker Company, Steve’s Real Food, Natures Goodness Pet Food, Party Animal, Inc.

Market Watch: Innovations in this Market

Mars Petcare obtained NomNomNow Inc. in January 2022. The latter is a D2C fresh pet food brand headquartered in Tennessee, United States that sells fresh food, supplements, and cat treats. Mars Petcare integrated the brand into its Royal Canin division.
Hill’s Pet Nutrition and Boulder-based company revealed in November 2021 an industry-first collaboration to create a substitute for one of Hill’s most popular meat proteins, especially to meet the cats’ dietary needs.
Beaphar procured Pet Food UK, a super-premium pet food firm, in December 2021. The company’s key brands are ‘Meowing Heads’ and ‘Barking Heads’ for cats and dogs, respectively. This acquisition has invigorated the firm’s extant product line and distribution channel.

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Industry by Categorization:

By Nature:

Organic
Monoprotein
Conventional

By Source:

Animal Derived
- Fish
- Chicken
- Duck
- Beef
- Pork
- Venison/Game
- Lamb
- Turkey
Plant Derived
Insect Derived
- Crickets
- Mealworms
- Black soldier flies

By Product Type:

Kibble/Dry
- Extruded
- Baked
- Coated
Treats and Chews
- Pastes
- Cremes / Cream-Snacks
- Crunchy snacks
- Chew sticks
- Tablets
- Biscuits
- Cat Milk / Milk snacks
Dehydrated Food
Freeze-dried Food
Freeze-dried Raw
Wet Food
Frozen
Raw Food
Powder

By Pet Type:

Kitten
Senior

By Packaging Type:

Pouches
Bags
Folding cartons
Tubs & Cups
Can
Bottles & jars

By Distribution Channel:

Store-based Retailing
- Hypermarkets/Supermarkets
- Convenience Stores
- Mom and Pop Stores
- Pet Stores
- Discounters
- Independent Grocery Retailers
- Drugstores
- Other Retail Formats
Online Retailers

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Animal Feeds Microalgae Market Forecast to 2031: Growth Potential, Market Share, Demand, and Key Player Insights

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.

The 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.

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“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.

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)

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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

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Vegan Cat Food Market Projected to Reach USD 17.16 Billion by 2033, Reports Future Market Insights Inc.

The vegan cat food market is forecasted to expand at 6% CAGR over the estimated period, as per FMI’s analysis. The industry’s size is predicted to reach a market value of US$ 9,291 million in 2023.

Growing ethical concerns among the masses related to the killing of animals for food are giving an impetus to market growth. Another factor fuelling the demand for vegan cat food is the perception of a plant-based diet as a nutrient-rich and healthy option for animals and humans alike.

A large proportion of environment-conscious pet owners are opting for vegan cat food to leave a relatively small carbon footprint behind, as opposed to animal products. Alternate fat sources, like coconut oil, can be seen replacing animal-based fats. This is a significant factor since cats require fat to maintain a high level of energy and to maintain their skin and coat health.

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Another important market-propellant is the rising cognizance regarding the health benefits associated with a vegan diet for both animals and humans. A vegan diet is considered healthy than one including meat and dairy products, due to reduced saturated fats and cholesterol and high levels of antioxidants and fibre.

Surging prices of dairy and meat products are also pushing people toward vegan cat food. Vegan cat food represents an affordable option in light of the rising prices of non-vegetarian products.

Manufacturers are relying on the innovation of their vegan cat food product line as a key strategy to gain many customers. The producers are constantly exploring new formulations for cat food as the demand for new items in the cat food portfolio is rising. Additionally, increasing investments in the advertisement of the product is expected to generate notable sales and revenue for the vegan cat food line.

Top Highlights from the FMI’s Analysis of the Vegan Cat Food Market:

The United States vegan cat food industry is expected to constitute more than 33% of the overall market in 2023.
Germany’s vegan cat food industry acquired 17% of the global market in 2022.
Japan’s vegan cat food industry is projected to gain more than 1% of the overall market in 2023.
The United Kingdom vegan cat food industry is estimated to register a CAGR of 8.7% over the forecast period.
China market is expected to record a CAGR of 4.3% in the coming years.
India’s vegan cat food industry is anticipated to attain a CAGR of 3.4% in the estimated period.
Based on product type, the kibble/dry segment is projected to get more than 35% over the forecast period.
Based on pet type, the kitten segment is expected to acquire above 35% in the coming years.

Market Watch: New Innovations in the Market

In December 2020, Veggie Animals, a Spanish brand, introduced vegan food for cats. The company extended its product range to incorporate new Veggie Animals PLUS for cats. The product can be consumed by adult cats and is available in the formats of 2kg and 12.5kg throughout Europe.
In October 2022, Peterra Kitchen, which is a “plant-forward” startup of pet food, released new baking mixes for cats and dogs. The plant-based mixes can be deployed to create cat food mix-ins and dog treats. These mixes consist of “health-protective” herbs and spices composed of prebiotics, fiber, and antioxidants to support pets’ gut health.

Top 10 Key Companies Profiled in Vegan Cat Food Market

Benevo
Wysong
Evanger’s Dog & Cat Food
Nature’s Recipe
My Aistra
Evolution Diet
Cannapple
Eco Dog and Cats
Nature’s diet
Dr. Good pet

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Vegan Cat Food Market by Category

By Product Type:

Kibble/Dry
- Extruded
- Baked
- Coated
Dehydrated Food
Treats and Chews
- Pastes
- Creams/Cream Snacks
- Crunchy Snacks
- Chew Sticks
- Tablets
- Biscuits
Freeze-Dried Raw
Wet Food
Frozen
Powder
Freeze-Dried Food

By Age Group:

Kitten
Adults

By Distribution Channel:

Store-based Retailing
- Hypermarkets/Supermarkets
- Convenience Stores
- Mom and Pop Stores
- Pet Stores
- Discounters
- Independent Grocery Retailers
- Drugstores
- Other Retail Formats
Online Retailers

By Packaging:

Pouches
Bags
Folding cartons
Tubs & Cups
Can
Bottles & jars

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Pet Food Microalgae Market Projected to Hit USD 38.3 Million by 2033, Says Future Market Insights

The pet food microalgae market is forecast to expand at 5% CAGR over the estimated period, as per FMI’s analysis. The industry’s size is predicted to reach a market value of US$ 24 million in 2023.

The pet food industry is in full bloom as the adoption of four-legged human friends is increasing steadily. An increase in pet owners is venturing out into premium pet food items to feed their pets. Food replete with nutrition and essential for pets’ health and wellness is being given more importance. The change in people’s purchasing behavior reflects the increased discretionary income, enhanced standard of living, and robust urbanization.

Social media influence has a lot to do with the growth of the pet food microalgae industry. Social media influencers having expertise in pet food provide information related to new ingredients and new debuts in the market. With this knowledge, pet owners make decisions about their pet’s diet.

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Increasing demand for spirulina in pet food is appealing to pet owners worldwide due to its superfood status. The ingredient is also touted as a skin and immunity supporter, adding to its increased demand.

Marketed chlorella powders and tablets for cats and dogs boast of being nutritious, detoxifying, and immunity-boosting. The product is believed to purify cats and dogs’ bodies of accumulated, toxic chemicals from processed foods, the environment, and therapeutic and preventive drugs.

Consuming microalgae also burns macronutrients to produce DHA (docosahexaenoic acid) in animals. This helps with the brain development of pets and is consumed by pregnant and lactating animals and puppies.

Overall, the market is poised to observe an upward growth trajectory backed by the benefits of consuming microalgae-enriched pet food.

Top Highlights from the FMI’s Analysis of the Pet Food Microalgae Market:

The United States market formed 2.7% of the overall market in 2022.
The market significantly contributes to the Europe pet food microalgae industry in Germany. The German pet food microalgae industry is expected to contribute more than 5.7% market share in 2023.
The Japan pet food microalgae industry is expected to form more than 7.2% of the overall market share in 2023.
The Australian pet food microalgae industry supported 2.9% of the global market in 2022.
The India pet food microalgae industry is expected to register a 28.1% CAGR from 2023 to 2033.
The China market is projected to expand at a CAGR of 7.5% in the estimated time.
The United Kingdom is anticipated to propel at a CAGR of 4% over the forecast period.
On the basis of source, freshwater is projected to account for more than 84% in 2023.
Based on the application, the dog feed segment is expected to register above 46% in 2023.

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Competition Alert: Manufacturers Forming New Formulas, Taking into Account Recent Discoveries

Asia Pacific houses several manufacturers of pet food microalgae. Apart from that, the usage of microalgae in Latin America is also widespread.

Studies and experiments substantiate the use of microalgae in pet food for its many benefits. Additionally, companies are conducting their own research to benefit from these discoveries and develop new formulas with extra help and nutrition in their pet food composition.

Market Watch: New Developments in the Market

In September 2023, MiAlgae partnered with Falkirk Distillery, a Scottish whisky distillery, to contribute to a circular economy and develop sustainable ingredients for animal nutrition. The partnership is going to help Falkirk to reduce its carbon footprint and water consumption.
In April 2023, MiAlgae introduced NaturAlgae, its Omega 3 microalgae ingredient. This ingredient can be applied to pet food and aquaculture feed.

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