Algae-Based Animal Feed And Ingredients Global Market Report 2023
New York, August 25, 2023 (GLOBE NEWSWIRE) -- Reportlinker.com has published a new report called "Global Market Report 2023 for Animal Feed and Ingredients Made from Algae" - https://www.reportlinker.com/p06486648/?utm_source=GNW. This report highlights leading companies in the industry including Kemin Industries Inc., Koninklijke DSM NV, Novozymes A/S, Nutreco N.V., Técnica Ganadera S.L., Aliga Microalgae, Triton Algae Innovations Inc., and Archer Daniels Midland Company.
According to market analysis, the algae-based animal feed and ingredients market is projected to experience significant growth in the coming years. From 2022 to 2023, the market is expected to expand from $3.10 billion to $3.42 billion, achieving a compound annual growth rate (CAGR) of 10.1%. However, the Russia-Ukraine conflict has caused disruptions in the global economy's recovery from the COVID-19 pandemic, particularly in the short term. Economic sanctions on various countries, along with increased commodity prices and disturbances in supply chains, have led to inflation in goods and services and have had an impact on numerous markets worldwide. Nonetheless, it is anticipated that the algae-based animal feed and ingredients market will continue to grow, reaching $4.79 billion by 2027 with a CAGR of 8.8%.
The market for animal feed and ingredients made from algae includes the sales of ulva, porphyra, spirulina, gracilaria, chlorella, dunaliella, and tetraselmis. The values mentioned in this market refer to the final selling price of the goods produced by the manufacturers or creators. These goods can be sold to other entities, such as downstream manufacturers, wholesalers, distributors, and retailers, or directly to the end customers.
The worth of products in this market comprises accompanying services offered by the manufacturers of the products.
Algae-derived animal feed and ingredients are nutrients and supplements sourced from various types of algae used as ingredients in animal feed mixtures. These are derived from different species of algae and are rich in vital nutrients, thus making them highly nourishing for animals. They enhance their growth and overall well-being, promoting optimal development and productivity.
In 2022, North America emerged as the dominant region in the market for algae-based animal feed and ingredients. The report on algae-based animal feed and ingredients encompasses various regions, including Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.
The primary categories of animal feed and components derived from algae are feed and feed ingredients. Animal feed pertains to any consumable substance that can be ingested by a domesticated animal, providing essential nutrients, energy, or a comprehensive diet.
They can be found in both physical stores and on the internet and are utilized in different ways to provide food for animals like chickens, pigs, cows, and fish.
The rising demand for meat is anticipated to drive the expansion of the algae-derived livestock feed and ingredient industry in the future. Meat consumption can be defined as the act of consuming or ingesting animal flesh, often utilized as a food source.
Algae-derived ingredients for animal feed are becoming an increasingly popular and sustainable option. These ingredients are rich in essential nutrients such as amino acids, vitamins, and minerals, making them a viable alternative to traditional feed ingredients. By using algae-based feed, animals can experience improved health and increased weight. To illustrate the growth of the market, let's take a look at some numbers. According to the Organization for Economic Co-operation and Development (OCED), meat consumption in the United States rose from 10,177.30 thousand metric tons in 2020 to 10,191.61 thousand metric tons in 2021. These figures indicate a steady increase in the demand for meat. Additionally, as the global population continues to grow, experts predict a 15% increase in worldwide meat consumption by 2031. With the rise in meat consumption, the demand for algae-based animal feed and ingredients is also increasing. This trend is driving the development and expansion of the market.
In the algae-based animal feed and ingredients market, the rise of product advancements is becoming a prominent trend. Leading companies in this industry are actively working on creating novel and original products to solidify their market presence.
As an example, in March 2021, Triton Algae Innovations Ltd, which is a startup situated in the United States, unveiled its freshwater algae ingredients and initial retail item, Plant-Based Tuna. The purpose was to showcase the possibilities of utilizing underwater crops as alternative protein sources to consumers. Triton specifically utilized Chlamydomonas reinhardtii, a type of single-celled algae, which has the ability to generate plant proteins. The company has achieved success in developing this algae in a large-scale and cost-efficient way through a process known as heterotrophic cultivation.
The blog post talks about a different protein element known as an alternative. Triton, the company, produces solutions using Chlamydomonas reinhardtii, which is a type of green algae grown in their fermentation tanks. According to them, this alternative protein ingredient provides protein content that is comparable to more popular algae types like chlorella and spirulina.
In May 2023, there was a partnership between Alltech Inc., a company from the United States that deals with animal feed, meat, brewing, and distilling, and Agolin SA. The purpose of this collaboration was to create environmentally friendly nutrition solutions that would help support the productivity and sustainability goals of cattle. By working together, Alltech and Agolin aimed to assist farmers and ranchers in attaining their sustainability targets, while also enhancing the performance and profitability of the cattle within their herds and supply chains. Agolin SA, based in Switzerland, specializes in the development and production of feed additives and nutritional solutions for animals that are derived from algae.
The algae-derived animal feed and ingredient market report includes data on the following nations: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, the United Kingdom, and the United States of America.
Market value is determined by the income that businesses generate from selling products and/or services in a specific market and location. This income can come from sales, grants, or donations and is expressed in currency, typically in USD unless stated otherwise.
The earnings for a designated area are revenue amounts that organizations within the designated area generate, regardless of where the goods are made. This does not encompass revenues from selling products again in the supply chain, whether at a later point or as part of other offerings.
The research report on the market for animal feed and ingredients derived from algae is part of a series of new reports. These reports provide statistics on the global market size of algae-based animal feed and ingredients, as well as regional shares, competitors' market share, detailed market segments, trends, opportunities, and other relevant data for those in the industry. This report offers a comprehensive view of the industry, including an analysis of the current state and future possibilities. To access the complete report, follow this link: https://www.reportlinker.com/p06486648/?utm_source=GNW
Introduction to Reportlinker Reportlinker is a renowned market research platform that has been recognized for its exceptional services. This incredible platform is dedicated to curating and arranging the most recent industry information, providing you with a comprehensive source of market research in one convenient location. With Reportlinker, you can access all the market insights you require in an instant.