Algae-Based Animal Feed And Ingredients Market 2024 | Market Share, Size, Industry Growth, Competitive Landscape, Share & Forecast To 2033

Global algae-based animal feed and ingredients market size is expected to reach $5.22 Bn by 2028 at a rate of 8.6%, segmented as by product, feed, feed ingredient

Jun 11, 2024 - 09:05

Algae-Based Animal Feed And Ingredients Market 2024 | Market Share, Size, Industry Growth, Competitive Landscape, Share & Forecast To 2033

Overview and Scope
Algae-based animal feed and ingredients are nutrients and additives obtained from several algae species utilized as components in animal feed formulations. These are obtained from several algae species and are abundant in essential nutrients, making them very nutritious for animals and improving their growth and general health while fostering optimal development and production.

Sizing and Forecast
The algae-based animal feed and ingredients market size has grown strongly in recent years. It will grow from $3.42 billion in 2023 to $3.75 billion in 2024 at a compound annual growth rate (CAGR) of 9.8%. The growth in the historic period can be attributed to sustainability concerns in animal agriculture, demand for nutrient-rich animal nutrition, search for alternative protein sources, regulatory support for sustainable practices, awareness of environmental impact in livestock farming..

The algae-based animal feed and ingredients market size is expected to see strong growth in the next few years. It will grow to $5.22 billion in 2028 at a compound annual growth rate (CAGR) of 8.6%. The growth in the forecast period can be attributed to continued emphasis on sustainable agriculture, growing demand for functional feed ingredients, expanding aquaculture industry, consumer preference for sustainable animal products, research and development in feed technology.. Major trends in the forecast period include diversification of algae species in feed formulations, collaborations and partnerships in the industry, integration of algae-based ingredients in pet nutrition, technological innovations in algae cultivation, global regulatory support and standards.

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Segmentation & Regional Insights
The algae-based animal feed and ingredients market covered in this report is segmented –

1) By Product: Feed, Feed Ingredient
2) By Distribution Channel: Offline, Online
3) By Application: Poultry, Swine, Ruminant, Aquaculture

North America was the largest region in the algae-based animal feed and ingredients market in 2023. The regions covered in the algae-based animal feed and ingredients market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa

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Major Driver Impacting Market Growth
The increasing meat consumption is expected to propel the growth of the algae-based animal feed and ingredient market going forward. Meat consumption refers to consuming or eating meat, which is the flesh of animals typically used as food. Algae-based animal feed and ingredients are used as a sustainable and nutritious protein source for animal feed, as they contain essential nutrients like amino acids, vitamins, and minerals, making them a viable option to replace traditional feed ingredients, which improves health and increases the weight of animals. For instance, in 2022, according to the OCED (Organization for Economic Co-operation and Development), a France-based intergovernmental organization, US consumption of meat increased from 10,177.30 thousand metric tons in 2020 to 10,191.61 thousand metric tons in 2021. Further, global population growth is predicted to support a 15% rise in worldwide meat consumption by 2031. Therefore, increasing meat consumption is driving the development of the algae-based animal feed and ingredient market.

Key Industry Players
Major companies operating in the algae-based animal feed and ingredients market report are Alltech Inc., Cargill Inc., Corbion NV, Evonik Industries AG, Ajinomoto Co. Inc., Cellana Inc., BASF SE, Centafarm SRL, DuPont de Nemours Inc., Kemin Industries Inc., Koninklijke DSM NV, Novozymes A/S, Nutreco N.V., Técnica Ganadera S.L., Aliga Microalgae, Triton Algae Innovations Inc., Archer Daniels Midland Company, Algalita LLC, Erulia Limited, Green Plains Natural Gas LLC, Heineken N.V., InnovaFeed SAS, JBS S.A., Microalgae Technology Inc., Neptune Bioenergy Inc., Nova Algae Inc., OriginOil Inc., Pond Technologies Inc., Seaweeds for Aquaculture LLC, Solazyme Inc., TerraVia Inc., UniBio Inc.

The algae-based animal feed and ingredients market report table of contents includes:

1. Executive Summary

2. Algae-Based Animal Feed And Ingredients Market Characteristics

3. Algae-Based Animal Feed And Ingredients Market Trends And Strategies

4. Algae-Based Animal Feed And Ingredients Market - Macro Economic Scenario

5. Global Algae-Based Animal Feed And Ingredients Market Size and Growth

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32. Global Algae-Based Animal Feed And Ingredients Market Competitive Benchmarking

33. Global Algae-Based Animal Feed And Ingredients Market Competitive Dashboard

34. Key Mergers And Acquisitions In The Algae-Based Animal Feed And Ingredients Market

35. Algae-Based Animal Feed And Ingredients Market Future Outlook and Potential Analysis

36. Appendix