Livestock Feed Industry's Interest in Microalgae Surges, Microalgae Demand in Animal Feed Sector to Surpass US$ 80.9 Mn by 2031: Future Market Insights Survey

Rapid urbanization, rising disposable income, and growing awareness regarding benefits of natural antibiotics such as astaxanthin are positively impacting the sales of microalgae products. 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...

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.

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

Key Drivers

Key Restraints

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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.

Some of the prominent players operating in the demand for microalgae in animal feds sector market profiled by FMI are:

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:

By Source:

By End Use Applications:

By Region:

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Key Questions Covered in the Demand for Microalgae in Animal Feed Sector Sales Outlook Report

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