NEW YORK, Sept. 12, 2023 /PRNewswire/ -- The algae-based animal feed and ingredients market is expected to grow by USD 928.69 million from 2022 to 2027, according to Technavio. In addition, the growth momentum of the market will progress at a CAGR of 6.07% during the forecast period. Increasing production and consumption of meat and dairy products is notably driving the algae-based animal feed and ingredients market. However, factors such as the high cost of processing algal biomass and technical difficulties may impede market growth. The market is segmented by application (poultry, swine, ruminant, and aquaculture), distribution channel (offline and online), and geography (APAC, North America, Europe, South America, and Middle East and Africa). Technavio provides a comprehensive report summary describing the market size and forecast along with research methodology. The sample report is available in PDF format
Key Segment Analysis
The market is segmented by application (poultry, swine, ruminant, and aquaculture), and distribution channel (offline and online).
- The market share growth in the offline segment will be significant during the forecast period. Specialty stores; department stores; hypermarkets, supermarkets, convenience stores, clubhouses, and drugstores are part of the offline distribution channel segment. They also offer a diverse range of animal feed and ingredient products based on algae, produced by several brands. Furthermore, Bentoli, AgrinutritionalCare, and Ace Peel Hardware are some of the leading specialty retailers selling animal feed or ingredients derived from algae. Given the more convenient nature of these products and the number of discount offers, it is an attractive proposition at affordable prices. In addition, they employ people who are able to assist customers and advise them about their purchases. Hence, these factors are expected to drive market growth during the forecast period.
To know additional highlights and key points on various market segments and their impact in coming years, View the PDF Sample Report.
Geographical Market Analysis
By geography, the market is segmented into APAC, North America, Europe, South America, and the Middle East and Africa
- APAC is estimated to contribute 42% to the growth of the global market during the forecast period.
Company Insights
The algae-based animal feed and ingredients market is concentrated, and the companies are deploying organic and inorganic growth strategies to compete in the market. The report analyzes the market's competitive landscape and offers information on several market companies, including Ajinomoto Co. Inc., Aliga ApS, Alltech Inc., Archer Daniels Midland Co., BASF SE, BIOTECNOLOGIAS APLICADAS SL, Bluetec Naturals Co. Ltd., Cargill Inc., Cellana Inc., Corbion NV, Cyanotech Corp., DuPont de Nemours Inc., EID Parry India Ltd., Evonik Industries AG, INNOBIO Corp. Ltd., Kemin Industries Inc., Koninklijke DSM NV, Novozymes AS, Nutreco N.V., and Roquette Freres SA
View the PDF Sample Report to find additional highlights on the growth strategies adopted by companies and their product offerings.
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Algae-based Animal Feed And Ingredients Market Scope |
|
Report Coverage |
Details |
Base year |
2022 |
Historic period |
2017-2021 |
Forecast period |
2023-2027 |
Growth momentum & CAGR |
Accelerate at a CAGR of 6.07% |
Market growth 2023-2027 |
USD 928.69 million |
Market structure |
Concentrated |
YoY growth 2022-2023 (%) |
5.71 |
Regional analysis |
APAC, North America, Europe, South America, and the Middle East and Africa |
Performing market contribution |
APAC at 42% |
Key countries |
US, China, Japan, Germany, and the UK |
Competitive landscape |
Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks |
Key companies profiled |
Ajinomoto Co. Inc., Aliga ApS, Alltech Inc., Archer Daniels Midland Co., BASF SE, BIOTECNOLOGIAS APLICADAS SL, Bluetec Naturals Co. Ltd., Cargill Inc., Cellana Inc., Corbion NV, Cyanotech Corp., DuPont de Nemours Inc., EID Parry India Ltd., Evonik Industries AG, INNOBIO Corp. Ltd., Kemin Industries Inc., Koninklijke DSM NV, Novozymes AS, Nutreco N.V., and Roquette Freres SA |
Market dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, and Market condition analysis for the forecast period. |
Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
ToC:
Executive Summary
Market Landscape
Market Sizing
Historic Market Sizes
Five Forces Analysis
Market Segmentation by Application
Market Segmentation by Distribution Channel
Market Segmentation by Geography
Customer Landscape
Geographic Landscape
Drivers, Challenges, & Trends
Company Landscape
Company Analysis
Appendix
About Technavio
Technavio is a leading global technology research and advisory company. Their research and analysis focus on emerging market trends and provide actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.
Contacts
Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: [email protected]
Website: www.technavio.com
SOURCE Technavio
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