Market Analysis and Size
Over the last decade, there has been a considerable growth in awareness of the nutritional benefits of seafood, which has raised the consumption rate of aquaculture products. Aquaculture goods, particularly farmed salmon and shrimp, are very nutritious food sources that contain considerable amounts of vital proteins, vitamins (A, B, D, and Niacin), and minerals (iodine, iron, phosphorus, and zinc). As a result, increased demand for aquatic products will drive the aquaculture industry, resulting in market growth over the forecasted period.
The algae-based animal feed and ingredients market was valued at USD 2.58 billion in 2021 and is expected to reach USD 4.52 billion by 2029, registering a CAGR of 7.30% in 2022-2029. The market report curated by the Data Bridge Market Research team includes in-depth expert analysis, import/export analysis, pricing analysis, production consumption analysis, and climate chain scenario.
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Algae (also referred as suspended plants) are a group of organisms that produce energy through photosynthesis, including algae from eukaryotic cells and algae from prokaryotic cells. Algae-based Animal Feed and Ingredients are algae-based animal feeds. Spirulina and chlorella are the most often utilised algae for animal feed nowadays. They are both high in nutrients and are incorporated to entire foods, snacks, and supplements for pets.
Algae-Based Animal Feed and Ingredients Market Dynamics
This section deals with understanding the market drivers, advantages, opportunities, restraints and challenges. All of this is discussed in detail as below:
- Increased Requirement of Algae-Based Animal Feed for Animal Health
Proper nutrition or ingredient consumption helps keep domestic animals stress-free and encourages excellent milk supply high in protein and fat. It is divided into two categories: forage and fodder. Including algae in cows' diets resulted in less natural degradation of unsaturated fatty acids and a higher concentration of these beneficial chemicals in meat and milk. Another significant example is the feeding of algae rich in omega-3 fatty acids to chickens, which then circulates through the food chain, resulting in the presence of this cholesterol-lowering chemical in eggs. It has also been stated that algal animal feed is used in food for cats, dogs, aquarium fish, decorative birds, horses, cows, and breeding bulls. Algae have a promising future as a source of animal feed. Algae are a high protein, nutritious, natural, and low-cost food choice for animals that have the potential to replace the current expensive grains supplied to animals. These chemicals prevent vitamin shortages and improve the pace of growth of animals as well as their health and well-being. Therefore, the market is estimated to flourish over the forecasted period due to this factor.
Increased Meat and Dairy Consumption
The market is being pushed by rising meat and dairy production and consumption and the high nutritional value of aquaculture products, which has resulted in an increase in demand. Therefore, the increased meat and dairy production and consumption are expected to drive market expansion.
Furthermore, the increasing meat and dairy production and consumption coupled with the increasing consumption rate of aquaculture products will further propel the growth rate of algae-based animal feed and ingredients market. Additionally, the surging expansion of animal feed as well as the agriculture industry, rising expenditure capacity of consumers will also drive market value growth.
- Implementation of Policies and Research And Development and Awareness
Furthermore, the implementation of favorable government policies promoting the utilization of quality animal feed extends profitable opportunities to the market players in the forecast period of 2022 to 2029. Additionally, the extensive research and development (R&D) activities and the surging awareness regarding the health benefits of algae-based ingredients in animal feed will further expand the future growth of the algae-based animal feed and ingredients market.
Some of the major players operating in the algae-based animal feed and ingredients market are
- Cargill Incorporated (U.S.)
- ADM Animal Nutrition (U.S.)
- Dupont (U.S.)
- Corporate.Evonik (Germany)
- BASF SE (Germany)
- DSM (Netherlands)
- Ajinomoto Co Inc., (Japan)
- Novozymes (Denmark)
- Chr. Hansen Holding A/S (Denmark)
- TEGASA (Spain)
- Nutreco (Netherlands)
- Kemin Industries Inc. (U.S.)
- Adisseo (France)
- Alltech (U.S.)
- Arvesta (Netherlands)
- Global Nutrition International (France)
- Centafarm SRL (Italy)
- Bentoli (U.S.)
- NUQO Feed Additives (France)
- Novus International (U.S.).
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Global Algae-Based Animal Feed and Ingredients Market Scope
The algae-based animal feed and ingredients market is segmented on the basis of type, product and form. The growth amongst these segments will help you analyze meagre growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.
- Calcium Hypochlorite
- Sodium Hypochlorite
- Polymeric Biguanide
- Hydrogen Peroxide
Algae-Based Animal Feed and Ingredients Market Regional Analysis/Insights
The algae-based animal feed and ingredients market is analysed and market size insights and trends are provided by country, type, product and form as referenced above.
The countries covered in the algae-based animal feed and ingredients market report are U.S., Canada, Mexico in North America, Germany, Poland, Ireland, Italy, U.K., France, Spain, Netherlands, Belgium, Switzerland, Turkey, Russia, Rest of Europe in Europe, Japan, China, India, South Korea, New Zealand, Vietnam, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in Asia-Pacific (APAC), Brazil, Argentina, Chile, Rest of South America as a part of South America, UAE, Saudi Arabia, Egypt, Kuwait, South Africa, Rest of Middle East and Africa(MEA) as a part of Middle East and Africa(MEA).
North America dominates the algae-based animal feed and ingredients market because of the presence of major cattle farms coupled with the surging demand for feed ingredients to enhance the nutritional value of meat products within the region.
On the other hand, Asia-Pacific is estimated to show lucrative growth during the forecast period of 2022 to 2029 due to the growing population, exponential growth rate in aquaculture, and changing consumer behavior trends within the region.
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