The demand for microalgae in the animal feed sector totaled USD 57.54 Million in 2021, according to latest insights by Future Market Insights (FMI). Exhibiting a CAGR of 3.5% for 2021 to 2031, the market is expected to reach USD 80.96 Million by 2031.
Rising demand from the aquaculture sector and consumption of natural antibiotics over synthetic ingredients have positively influenced market growth. As per FMI, fresh-water microalgae accounted for 82% of global demand for microalgae in animal feed sector in 2021.
| Market Size in (2021) | USD 57.54 Million |
|---|---|
| Market Size in (2031) | USD 80.96 Million |
| Market CAGR (2021 to 2031) | 3.5% |
Demand for microalgae the animal feed sector is increasing due to the rising demand for natural additives in animal feed, the popularity of astaxanthin and the rising global livestock population.
The market grew at a CAGR of 2.3% between 2016 and 2020. Forecasts for growth remain optimistic, with the market predicted to register a CAGR of 3.5% between 2021 and 2031.
In recent years, animal husbandry and aquaculture has witnessed remarkable growth. Demand for protein-rich food is causing this change. The quality of meat and meat products depends on animal feed. Feed manufacturers prefer high-quality, naturally derived ingredients to fill the demand from farmers or commercial livestock producers.
The United States Food and Drug Administration approved the usage of astaxanthin in animal feed and fish feed as additives. Various government entities and regulatory authorities, including the FDA and the EU, support the production and distribution of astaxanthin for a variety of applications, including animal feed and aqua-feed supporting the use of microalgae in animal feed formulations.
Microalgae is used as a natural pigment and is sourced particularly from microalga haematococcus pluvialis. This microalga is widely used in aquaculture and poultry industries. Microalgae in aquaculture play an important role in enhancing the flesh coloration of farmed salmonids. In the poultry industry, it helps to boost yolk coloration in the egg.
Consumer awareness towards reducing carbohydrate-rich foods and increasing consumption of protein-rich foods increase the demand for aquaculture products. Therefore, salmonid production has risen strongly. The growing end-use industry drives the demand for key ingredients, thereby propelling market growth.
According to FMI, North America is one of the leading regions contributing to the global demand for microalgae in animal feeds sector. According to the study, the USA. is anticipated to account for over 92% of the North America market through 2031, holding a lion’s share of global demand.
Microalgae based astaxanthin is a good antioxidant used in food and beverages, animal feeds and more. The use of astaxanthin in feed and food items has been approved by the FDA which will positively affect growth. The use of astaxanthin increases cattle production capacity. As a result, microalgae are becoming increasingly popular in the animal feed industry in the USA.
According to the report, the demand for microalgae in the Germany animal feed sector is expected to be valued at USD 2.5 Million in the year 2021, holding a greater share in Europe.
Germany is showing high potential for sales of meat protein products. Moreover, farmers are concerned about quality and the impact of feed on animal health. This concern led them towards quality, premium feed ingredients. Therefore, manufacturers are engaging in research and developing quality ingredients at a lower cost.
By 2021 Brazil is expected to account for more than 52% of demand for microalgae in the animal feed sector within Latin America and is anticipated to grow at a CAGR of 3.3% through the forecast period.
Brazil holds a major share in the Latin America feed production sector. Animal husbandry is a key revenue stream for the Brazilian agriculture industry. Economic growth, industrialization in the livestock industry, and awareness of farmers towards healthy animal feed to improve meat quality drives year-round harvesting.
Microalgae is a good source of omega-3 fatty acids. Adding microalgae in animal feed helps to reduce harvesting time, fueling demand in Latin American countries.
China is expected to account for more than 53% of the Asia Pacific market in 2021, according to FMI’s analysis. The consumption of microalgae in swine and poultry feeds increases demand.
China is a key supplier of pork, also increasing commercial livestock demand for protein-rich foods. Modern technology influence livestock and aquaculture production and sound national and international sales channels support the Chinese commercial livestock industry.
The rising demand for livestock pushes the demand for protein-rich and cost-effective feeds, which is driving the demand for microalgae in the local animal feed industry.
India holds a value share of more than 12% of the Asia Pacific in 2021. India is also expected to display a lucrative growth rate of 3.9% CAGR over the forecast period. India is one of the major developing countries in the world.
Rising livestock, poultry, aquaculture, and swine sectors drive the demand for microalgae in the animal feed market. The emerging agriculture industry, urbanization, changing consumer lifestyles, and preference for meat consumption is fueling the Indian animal feed industry.
Spirulina accounted for more than 39% of the global market in 2021. Spirulina is easily digestible, and has a nutrient rich profile to enhance animal growth, fertility, and aesthetics. Haematococcus and chlorella account for more than 34% of the market value share in the global animal feed sector.
Freshwater sourced microalgae accounted for more than 80% of the global market in 2021. Emerging changes in the agricultural field aids the production and yield capacity of microalgae in freshwater.
Moreover, nutritional benefits will account for a larger market share. However, marine water microalgae contain higher levels of docosahexaenoic acid as compared with freshwater microalgae. Therefore, the marine sourced microalgae will rise at a CAGR of 4.9% through the forecast period.
Poultry feed accounts for a maximum share of nearly 37% of the global demand for microalgae in the animal feed sector. Microalgae are helping to enhance the growth and weight of birds, thereby driving up microalgae consumption.
The swine feed segment is anticipated to holding second place in the consumption of microalgae. Microalgae aids in improving meat quality and volume. The addition of microalgae to conventional feed helps to improve the animal health and meat quality. Therefore, the swine feed segment contributes more than 26% of global demand.
Manufacturers are focusing on strengthening their product portfolio to serve global demand. Increasing numbers of naturally derived feed additives are encouraging key players to invest in research and development for new products.
For instance,
| Attribute | Details |
|---|---|
| Forecast Period | 2021 to 2031 |
| Historical Data Available for | 2016 to 2020 |
| Market Analysis | USD Thousand for Value |
| Key Countries Covered | USA, Canada, Germany, UK, France, Italy, Spain, Russia, China, Japan, South Korea, India, Thailand, Malaysia, Indonesia, Australia, New Zealand, GCC Countries, Turkey, Northern Africa, and South Africa |
| Key Segments Covered | Species Type, Source, End Use Applications |
| Key Companies Profiled | DIC Corporation; Cyanotech Corporation; Koninkliijke DSM NV; Roquette Frères; BASF SE; Fuji Chemical Industries Co., Ltd; Parry Nutraceuticals; BGG (Beijing Gingko Group); KDI Ingredients; Sinoway Industrial Co., ltd.; INNOBIO Corporation Limited; Yunnan Alphy Biotech Co., Ltd.; Algaecan Biotech Ltd.; Algatechnologies Ltd.; Cardax, Inc.; Igene Biotechnology, Inc.; Fenchem Biotek Ltd.; AstaReal Inc.; Others |
| Report Coverage | Market Forecast, Company Share Analysis, Competition Intelligence, DROT Analysis, Market Dynamics and Challenges, and Strategic Growth Initiatives |
| Customization & Pricing | Available upon Request |
Table 1: Global Demand for Microalgae in Animal Feed Sector Market Value (US$ Mn) and Forecast by Species Type, 2016–2020
Table 2: Global Demand for Microalgae in Animal Feed Sector Market Value (US$ Mn) and Forecast by Species Type,2021–2031
Table 3: Global Demand for Microalgae in Animal Feed Sector Market Volume (Metric Tons) and Forecast by Species Type, 2016–2020
Table 4: Global Demand for Microalgae in Animal Feed Sector Market Volume (Metric Tons) and Forecast by Species Type,2021–2031
Table 5: Global Demand for Microalgae in Animal Feed Sector Market Value (US$ Mn) and Forecast by Source, 2016–2020
Table 6: Global Demand for Microalgae in Animal Feed Sector Market Value (US$ Mn) and Forecast by Source,2021–2031
Table 7: Global Demand for Microalgae in Animal Feed Sector Market Volume (Metric Tons) and Forecast by Source, 2016–2020
Table 8: Global Demand for Microalgae in Animal Feed Sector Market Volume (Metric Tons) and Forecast by Source,2021–2031
Table 9: Global Demand for Microalgae in Animal Feed Sector Market Value (US$ Mn) and Forecast by End Use Applications, 2016–2020
Table 10: Global Demand for Microalgae in Animal Feed Sector Market Value (US$ Mn) and Forecast by End Use Applications,2021–2031
Table 11: Global Demand for Microalgae in Animal Feed Sector Market Volume (Metric Tons) and Forecast by End Use Applications, 2016–2020
Table 12: Global Demand for Microalgae in Animal Feed Sector Market Volume (Metric Tons) and Forecast by End Use Applications,2021–2031
Table 13: Global Demand for Microalgae in Animal Feed Sector Market Value (US$ Mn) and Forecast by Region, 2016–2020
Table 14: Global Demand for Microalgae in Animal Feed Sector Market Value (US$ Mn) and Forecast by Region,2021–2031
Table 15: Global Demand for Microalgae in Animal Feed Sector Market Volume (Metric Tons) and Forecast by Region, 2016–2020
Table 16: Global Demand for Microalgae in Animal Feed Sector Market Volume (Metric Tons) and Forecast by Region,2021–2031
Table 17: North America Demand for Microalgae in Animal Feed Sector Market Value (US$ Mn) and Forecast by Species Type, 2016–2020
Table 18: North America Demand for Microalgae in Animal Feed Sector Market Value (US$ Mn) and Forecast by Species Type,2021–2031
Table 19: North America Demand for Microalgae in Animal Feed Sector Market Volume (Metric Tons) and Forecast by Species Type, 2016–2020
Table 20: North America Demand for Microalgae in Animal Feed Sector Market Volume (Metric Tons) and Forecast by Species Type,2021–2031
Table 21: North America Demand for Microalgae in Animal Feed Sector Market Value (US$ Mn) and Forecast by Source, 2016–2020
Table 22: North America Demand for Microalgae in Animal Feed Sector Market Value (US$ Mn) and Forecast by Source,2021–2031
Table 23: North America Demand for Microalgae in Animal Feed Sector Market Volume (Metric Tons) and Forecast by Source, 2016–2020
Table 24: North America Demand for Microalgae in Animal Feed Sector Market Volume (Metric Tons) and Forecast by Source,2021–2031
Table 25: North America Demand for Microalgae in Animal Feed Sector Market Value (US$ Mn) and Forecast by End Use Applications, 2016–2020
Table 26: North America Demand for Microalgae in Animal Feed Sector Market Value (US$ Mn) and Forecast by End Use Applications,2021–2031
Table 27: North America Demand for Microalgae in Animal Feed Sector Market Volume (Metric Tons) and Forecast by End Use Applications, 2016–2020
Table 28: North America Demand for Microalgae in Animal Feed Sector Market Volume (Metric Tons) and Forecast by End Use Applications,2021–2031
Table 29: North America Demand for Microalgae in Animal Feed Sector Market Value (US$ Mn) and Forecast by Country, 2016–2020
Table 30: North America Demand for Microalgae in Animal Feed Sector Market Value (US$ Mn) and Forecast by Country,2021–2031
Table 31: North America Demand for Microalgae in Animal Feed Sector Market Volume (Metric Tons) and Forecast by Country, 2016–2020
Table 32: North America Demand for Microalgae in Animal Feed Sector Market Volume (Metric Tons) and Forecast by Country,2021–2031
Table 33: Latin America Demand for Microalgae in Animal Feed Sector Market Value (US$ Mn) and Forecast by Species Type, 2016–2020
Table 34: Latin America Demand for Microalgae in Animal Feed Sector Market Value (US$ Mn) and Forecast by Species Type,2021–2031
Table 35: Latin America Demand for Microalgae in Animal Feed Sector Market Volume (Metric Tons) and Forecast by Species Type, 2016–2020
Table 36: Latin America Demand for Microalgae in Animal Feed Sector Market Volume (Metric Tons) and Forecast by Species Type,2021–2031
Table 37: Latin America Demand for Microalgae in Animal Feed Sector Market Value (US$ Mn) and Forecast by Source, 2016–2020
Table 38: Latin America Demand for Microalgae in Animal Feed Sector Market Value (US$ Mn) and Forecast by Source,2021–2031
Table 39: Latin America Demand for Microalgae in Animal Feed Sector Market Volume (Metric Tons) and Forecast by Source, 2016–2020
Table 40: Latin America Demand for Microalgae in Animal Feed Sector Market Volume (Metric Tons) and Forecast by Source,2021–2031
Table 41: Latin America Demand for Microalgae in Animal Feed Sector Market Value (US$ Mn) and Forecast by End Use Applications, 2016–2020
Table 42: Latin America Demand for Microalgae in Animal Feed Sector Market Value (US$ Mn) and Forecast by End Use Applications,2021–2031
Table 43: Latin America Demand for Microalgae in Animal Feed Sector Market Volume (Metric Tons) and Forecast by End Use Applications, 2016–2020
Table 44: Latin America Demand for Microalgae in Animal Feed Sector Market Volume (Metric Tons) and Forecast by End Use Applications,2021–2031
Table 45: Latin America Demand for Microalgae in Animal Feed Sector Market Value (US$ Mn) and Forecast by Country, 2016–2020
Table 46: Latin America Demand for Microalgae in Animal Feed Sector Market Value (US$ Mn) and Forecast by Country,2021–2031
Table 47: Latin America Demand for Microalgae in Animal Feed Sector Market Volume (Metric Tons) and Forecast by Country, 2016–2020
Table 48: Latin America Demand for Microalgae in Animal Feed Sector Market Volume (Metric Tons) and Forecast by Country,2021–2031
Table 49: Europe Demand for Microalgae in Animal Feed Sector Market Value (US$ Mn) and Forecast by Species Type, 2016–2020
Table 50: Europe Demand for Microalgae in Animal Feed Sector Market Value (US$ Mn) and Forecast by Species Type,2021–2031
Table 51: Europe Demand for Microalgae in Animal Feed Sector Market Volume (Metric Tons) and Forecast by Species Type, 2016–2020
Table 52: Europe Demand for Microalgae in Animal Feed Sector Market Volume (Metric Tons) and Forecast by Species Type,2021–2031
Table 53: Europe Demand for Microalgae in Animal Feed Sector Market Value (US$ Mn) and Forecast by Source, 2016–2020
Table 54: Europe Demand for Microalgae in Animal Feed Sector Market Value (US$ Mn) and Forecast by Source,2021–2031
Table 55: Europe Demand for Microalgae in Animal Feed Sector Market Volume (Metric Tons) and Forecast by Source, 2016–2020
Table 56: Europe Demand for Microalgae in Animal Feed Sector Market Volume (Metric Tons) and Forecast by Source,2021–2031
Table 57: Europe Demand for Microalgae in Animal Feed Sector Market Value (US$ Mn) and Forecast by End Use Applications, 2016–2020
Table 58: Europe Demand for Microalgae in Animal Feed Sector Market Value (US$ Mn) and Forecast by End Use Applications,2021–2031
Table 59: Europe Demand for Microalgae in Animal Feed Sector Market Volume (Metric Tons) and Forecast by End Use Applications, 2016–2020
Table 60: Europe Demand for Microalgae in Animal Feed Sector Market Volume (Metric Tons) and Forecast by End Use Applications,2021–2031
Table 61: Europe Demand for Microalgae in Animal Feed Sector Market Value (US$ Mn) and Forecast by Country, 2016–2020
Table 62: Europe Demand for Microalgae in Animal Feed Sector Market Value (US$ Mn) and Forecast by Country,2021–2031
Table 63: Europe Demand for Microalgae in Animal Feed Sector Market Volume (Metric Tons) and Forecast by Country, 2016–2020
Table 64: Europe Demand for Microalgae in Animal Feed Sector Market Volume (Metric Tons) and Forecast by Country,2021–2031
Table 65: Asia Pacific Demand for Microalgae in Animal Feed Sector Market Value (US$ Mn) and Forecast by Species Type, 2016–2020
Table 66: Asia Pacific Demand for Microalgae in Animal Feed Sector Market Value (US$ Mn) and Forecast by Species Type,2021–2031
Table 67: Asia Pacific Demand for Microalgae in Animal Feed Sector Market Volume (Metric Tons) and Forecast by Species Type, 2016–2020
Table 68: Asia Pacific Demand for Microalgae in Animal Feed Sector Market Volume (Metric Tons) and Forecast by Species Type,2021–2031
Table 69: Asia Pacific Demand for Microalgae in Animal Feed Sector Market Value (US$ Mn) and Forecast by Source, 2016–2020
Table 70: Asia Pacific Demand for Microalgae in Animal Feed Sector Market Value (US$ Mn) and Forecast by Source,2021–2031
Table 71: Asia Pacific Demand for Microalgae in Animal Feed Sector Market Volume (Metric Tons) and Forecast by Source, 2016–2020
Table 72: Asia Pacific Demand for Microalgae in Animal Feed Sector Market Volume (Metric Tons) and Forecast by Source,2021–2031
Table 73: Asia Pacific Demand for Microalgae in Animal Feed Sector Market Value (US$ Mn) and Forecast by End Use Applications, 2016–2020
Table 74: Asia Pacific Demand for Microalgae in Animal Feed Sector Market Value (US$ Mn) and Forecast by End Use Applications,2021–2031
Table 75: Asia Pacific Demand for Microalgae in Animal Feed Sector Market Volume (Metric Tons) and Forecast by End Use Applications, 2016–2020
Table 76: Asia Pacific Demand for Microalgae in Animal Feed Sector Market Volume (Metric Tons) and Forecast by End Use Applications,2021–2031
Table 77: Asia Pacific Demand for Microalgae in Animal Feed Sector Market Value (US$ Mn) and Forecast by Country, 2016–2020
Table 78: Asia Pacific Demand for Microalgae in Animal Feed Sector Market Value (US$ Mn) and Forecast by Country,2021–2031
Table 79: Asia Pacific Demand for Microalgae in Animal Feed Sector Market Volume (Metric Tons) and Forecast by Country, 2016–2020
Table 80: Asia Pacific Demand for Microalgae in Animal Feed Sector Market Volume (Metric Tons) and Forecast by Country,2021–2031
Table 81: Middle East & Africa Demand for Microalgae in Animal Feed Sector Market Value (US$ Mn) and Forecast by Species Type, 2016–2020
Table 82: Middle East & Africa Demand for Microalgae in Animal Feed Sector Market Value (US$ Mn) and Forecast by Species Type,2021–2031
Table 83: Middle East & Africa Demand for Microalgae in Animal Feed Sector Market Volume (Metric Tons) and Forecast by Species Type, 2016–2020
Table 84: Middle East & Africa Demand for Microalgae in Animal Feed Sector Market Volume (Metric Tons) and Forecast by Species Type,2021–2031
Table 85: Middle East & Africa Demand for Microalgae in Animal Feed Sector Market Value (US$ Mn) and Forecast by Source, 2016–2020
Table 86: Middle East & Africa Demand for Microalgae in Animal Feed Sector Market Value (US$ Mn) and Forecast by Source,2021–2031
Table 87: Middle East & Africa Demand for Microalgae in Animal Feed Sector Market Volume (Metric Tons) and Forecast by Source, 2016–2020
Table 88: Middle East & Africa Demand for Microalgae in Animal Feed Sector Market Volume (Metric Tons) and Forecast by Source,2021–2031
Table 89: Middle East & Africa Demand for Microalgae in Animal Feed Sector Market Value (US$ Mn) and Forecast by End Use Applications, 2016–2020
Table 90: Middle East & Africa Demand for Microalgae in Animal Feed Sector Market Value (US$ Mn) and Forecast by End Use Applications,2021–2031
Table 91: Middle East & Africa Demand for Microalgae in Animal Feed Sector Market Volume (Metric Tons) and Forecast by End Use Applications, 2016–2020
Table 92: Middle East & Africa Demand for Microalgae in Animal Feed Sector Market Volume (Metric Tons) and Forecast by End Use Applications,2021–2031
Table 93: Middle East & Africa Demand for Microalgae in Animal Feed Sector Market Value (US$ Mn) and Forecast by Country, 2016–2020
Table 94: Middle East & Africa Demand for Microalgae in Animal Feed Sector Market Value (US$ Mn) and Forecast by Country,2021–2031
Table 95: Middle East & Africa Demand for Microalgae in Animal Feed Sector Market Volume (Metric Tons) and Forecast by Country, 2016–2020
Table 96: Middle East & Africa Demand for Microalgae in Animal Feed Sector Market Volume (Metric Tons) and Forecast by Country,2021–2031
Figure 1: Global Demand for Microalgae in Animal Feed Sector Market Value (US$ Mn) and Forecast by Species Type, 2016–2020
Figure 2: Global Demand for Microalgae in Animal Feed Sector Market Value (US$ Mn) and Forecast by Species Type,2021–2031
Figure 3: Global Demand for Microalgae in Animal Feed Sector Market Volume (Metric Tons) and Forecast by Species Type, 2016–2020
Figure 4: Global Demand for Microalgae in Animal Feed Sector Market Volume (Metric Tons) and Forecast by Species Type,2021–2031
Figure 5: Global Demand for Microalgae in Animal Feed Sector Market Value (US$ Mn) and Forecast by Source, 2016–2020
Figure 6: Global Demand for Microalgae in Animal Feed Sector Market Value (US$ Mn) and Forecast by Source,2021–2031
Figure 7: Global Demand for Microalgae in Animal Feed Sector Market Volume (Metric Tons) and Forecast by Source, 2016–2020
Figure 8: Global Demand for Microalgae in Animal Feed Sector Market Volume (Metric Tons) and Forecast by Source,2021–2031
Figure 9: Global Demand for Microalgae in Animal Feed Sector Market Value (US$ Mn) and Forecast by End Use Applications, 2016–2020
Figure 10: Global Demand for Microalgae in Animal Feed Sector Market Value (US$ Mn) and Forecast by End Use Applications,2021–2031
Figure 11: Global Demand for Microalgae in Animal Feed Sector Market Volume (Metric Tons) and Forecast by End Use Applications, 2016–2020
Figure 12: Global Demand for Microalgae in Animal Feed Sector Market Volume (Metric Tons) and Forecast by End Use Applications,2021–2031
Figure 13: Global Demand for Microalgae in Animal Feed Sector Market Value (US$ Mn) and Forecast by Region, 2016–2020
Figure 14: Global Demand for Microalgae in Animal Feed Sector Market Value (US$ Mn) and Forecast by Region,2021–2031
Figure 15: Global Demand for Microalgae in Animal Feed Sector Market Volume (Metric Tons) and Forecast by Region, 2016–2020
Figure 16: Global Demand for Microalgae in Animal Feed Sector Market Volume (Metric Tons) and Forecast by Region,2021–2031
Figure 17: North America Demand for Microalgae in Animal Feed Sector Market Value (US$ Mn) and Forecast by Species Type, 2016–2020
Figure 18: North America Demand for Microalgae in Animal Feed Sector Market Value (US$ Mn) and Forecast by Species Type,2021–2031
Figure 19: North America Demand for Microalgae in Animal Feed Sector Market Volume (Metric Tons) and Forecast by Species Type, 2016–2020
Figure 20: North America Demand for Microalgae in Animal Feed Sector Market Volume (Metric Tons) and Forecast by Species Type,2021–2031
Figure 21: North America Demand for Microalgae in Animal Feed Sector Market Value (US$ Mn) and Forecast by Source, 2016–2020
Figure 22: North America Demand for Microalgae in Animal Feed Sector Market Value (US$ Mn) and Forecast by Source,2021–2031
Figure 23: North America Demand for Microalgae in Animal Feed Sector Market Volume (Metric Tons) and Forecast by Source, 2016–2020
Figure 24: North America Demand for Microalgae in Animal Feed Sector Market Volume (Metric Tons) and Forecast by Source,2021–2031
Figure 25: North America Demand for Microalgae in Animal Feed Sector Market Value (US$ Mn) and Forecast by End Use Applications, 2016–2020
Figure 26: North America Demand for Microalgae in Animal Feed Sector Market Value (US$ Mn) and Forecast by End Use Applications,2021–2031
Figure 27: North America Demand for Microalgae in Animal Feed Sector Market Volume (Metric Tons) and Forecast by End Use Applications, 2016–2020
Figure 28: North America Demand for Microalgae in Animal Feed Sector Market Volume (Metric Tons) and Forecast by End Use Applications,2021–2031
Figure 29: North America Demand for Microalgae in Animal Feed Sector Market Value (US$ Mn) and Forecast by Country, 2016–2020
Figure 30: North America Demand for Microalgae in Animal Feed Sector Market Value (US$ Mn) and Forecast by Country,2021–2031
Figure 31: North America Demand for Microalgae in Animal Feed Sector Market Volume (Metric Tons) and Forecast by Country, 2016–2020
Figure 32: North America Demand for Microalgae in Animal Feed Sector Market Volume (Metric Tons) and Forecast by Country,2021–2031
Figure 33: Latin America Demand for Microalgae in Animal Feed Sector Market Value (US$ Mn) and Forecast by Species Type, 2016–2020
Figure 34: Latin America Demand for Microalgae in Animal Feed Sector Market Value (US$ Mn) and Forecast by Species Type,2021–2031
Figure 35: Latin America Demand for Microalgae in Animal Feed Sector Market Volume (Metric Tons) and Forecast by Species Type, 2016–2020
Figure 36: Latin America Demand for Microalgae in Animal Feed Sector Market Volume (Metric Tons) and Forecast by Species Type,2021–2031
Figure 37: Latin America Demand for Microalgae in Animal Feed Sector Market Value (US$ Mn) and Forecast by Source, 2016–2020
Figure 38: Latin America Demand for Microalgae in Animal Feed Sector Market Value (US$ Mn) and Forecast by Source,2021–2031
Figure 39: Latin America Demand for Microalgae in Animal Feed Sector Market Volume (Metric Tons) and Forecast by Source, 2016–2020
Figure 40: Latin America Demand for Microalgae in Animal Feed Sector Market Volume (Metric Tons) and Forecast by Source,2021–2031
Figure 41: Latin America Demand for Microalgae in Animal Feed Sector Market Value (US$ Mn) and Forecast by End Use Applications, 2016–2020
Figure 42: Latin America Demand for Microalgae in Animal Feed Sector Market Value (US$ Mn) and Forecast by End Use Applications,2021–2031
Figure 43: Latin America Demand for Microalgae in Animal Feed Sector Market Volume (Metric Tons) and Forecast by End Use Applications, 2016–2020
Figure 44: Latin America Demand for Microalgae in Animal Feed Sector Market Volume (Metric Tons) and Forecast by End Use Applications,2021–2031
Figure 45: Latin America Demand for Microalgae in Animal Feed Sector Market Value (US$ Mn) and Forecast by Country, 2016–2020
Figure 46: Latin America Demand for Microalgae in Animal Feed Sector Market Value (US$ Mn) and Forecast by Country,2021–2031
Figure 47: Latin America Demand for Microalgae in Animal Feed Sector Market Volume (Metric Tons) and Forecast by Country, 2016–2020
Figure 48: Latin America Demand for Microalgae in Animal Feed Sector Market Volume (Metric Tons) and Forecast by Country,2021–2031
Figure 49: Europe Demand for Microalgae in Animal Feed Sector Market Value (US$ Mn) and Forecast by Species Type, 2016–2020
Figure 50: Europe Demand for Microalgae in Animal Feed Sector Market Value (US$ Mn) and Forecast by Species Type,2021–2031
Figure 51: Europe Demand for Microalgae in Animal Feed Sector Market Volume (Metric Tons) and Forecast by Species Type, 2016–2020
Figure 52: Europe Demand for Microalgae in Animal Feed Sector Market Volume (Metric Tons) and Forecast by Species Type,2021–2031
Figure 53: Europe Demand for Microalgae in Animal Feed Sector Market Value (US$ Mn) and Forecast by Source, 2016–2020
Figure 54: Europe Demand for Microalgae in Animal Feed Sector Market Value (US$ Mn) and Forecast by Source,2021–2031
Figure 55: Europe Demand for Microalgae in Animal Feed Sector Market Volume (Metric Tons) and Forecast by Source, 2016–2020
Figure 56: Europe Demand for Microalgae in Animal Feed Sector Market Volume (Metric Tons) and Forecast by Source,2021–2031
Figure 57: Europe Demand for Microalgae in Animal Feed Sector Market Value (US$ Mn) and Forecast by End Use Applications, 2016–2020
Figure 58: Europe Demand for Microalgae in Animal Feed Sector Market Value (US$ Mn) and Forecast by End Use Applications,2021–2031
Figure 59: Europe Demand for Microalgae in Animal Feed Sector Market Volume (Metric Tons) and Forecast by End Use Applications, 2016–2020
Figure 60: Europe Demand for Microalgae in Animal Feed Sector Market Volume (Metric Tons) and Forecast by End Use Applications,2021–2031
Figure 61: Europe Demand for Microalgae in Animal Feed Sector Market Value (US$ Mn) and Forecast by Country, 2016–2020
Figure 62: Europe Demand for Microalgae in Animal Feed Sector Market Value (US$ Mn) and Forecast by Country,2021–2031
Figure 63: Europe Demand for Microalgae in Animal Feed Sector Market Volume (Metric Tons) and Forecast by Country, 2016–2020
Figure 64: Europe Demand for Microalgae in Animal Feed Sector Market Volume (Metric Tons) and Forecast by Country,2021–2031
Figure 65: Asia Pacific Demand for Microalgae in Animal Feed Sector Market Value (US$ Mn) and Forecast by Species Type, 2016–2020
Figure 66: Asia Pacific Demand for Microalgae in Animal Feed Sector Market Value (US$ Mn) and Forecast by Species Type,2021–2031
Figure 67: Asia Pacific Demand for Microalgae in Animal Feed Sector Market Volume (Metric Tons) and Forecast by Species Type, 2016–2020
Figure 68: Asia Pacific Demand for Microalgae in Animal Feed Sector Market Volume (Metric Tons) and Forecast by Species Type,2021–2031
Figure 69: Asia Pacific Demand for Microalgae in Animal Feed Sector Market Value (US$ Mn) and Forecast by Source, 2016–2020
Figure 70: Asia Pacific Demand for Microalgae in Animal Feed Sector Market Value (US$ Mn) and Forecast by Source,2021–2031
Figure 71: Asia Pacific Demand for Microalgae in Animal Feed Sector Market Volume (Metric Tons) and Forecast by Source, 2016–2020
Figure 72: Asia Pacific Demand for Microalgae in Animal Feed Sector Market Volume (Metric Tons) and Forecast by Source,2021–2031
Figure 73: Asia Pacific Demand for Microalgae in Animal Feed Sector Market Value (US$ Mn) and Forecast by End Use Applications, 2016–2020
Figure 74: Asia Pacific Demand for Microalgae in Animal Feed Sector Market Value (US$ Mn) and Forecast by End Use Applications,2021–2031
Figure 75: Asia Pacific Demand for Microalgae in Animal Feed Sector Market Volume (Metric Tons) and Forecast by End Use Applications, 2016–2020
Figure 76: Asia Pacific Demand for Microalgae in Animal Feed Sector Market Volume (Metric Tons) and Forecast by End Use Applications,2021–2031
Figure 77: Asia Pacific Demand for Microalgae in Animal Feed Sector Market Value (US$ Mn) and Forecast by Country, 2016–2020
Figure 78: Asia Pacific Demand for Microalgae in Animal Feed Sector Market Value (US$ Mn) and Forecast by Country,2021–2031
Figure 79: Asia Pacific Demand for Microalgae in Animal Feed Sector Market Volume (Metric Tons) and Forecast by Country, 2016–2020
Figure 80: Asia Pacific Demand for Microalgae in Animal Feed Sector Market Volume (Metric Tons) and Forecast by Country,2021–2031
Figure 81: Middle East & Africa Demand for Microalgae in Animal Feed Sector Market Value (US$ Mn) and Forecast by Species Type, 2016–2020
Figure 82: Middle East & Africa Demand for Microalgae in Animal Feed Sector Market Value (US$ Mn) and Forecast by Species Type,2021–2031
Figure 83: Middle East & Africa Demand for Microalgae in Animal Feed Sector Market Volume (Metric Tons) and Forecast by Species Type, 2016–2020
Figure 84: Middle East & Africa Demand for Microalgae in Animal Feed Sector Market Volume (Metric Tons) and Forecast by Species Type,2021–2031
Figure 85: Middle East & Africa Demand for Microalgae in Animal Feed Sector Market Value (US$ Mn) and Forecast by Source, 2016–2020
Figure 86: Middle East & Africa Demand for Microalgae in Animal Feed Sector Market Value (US$ Mn) and Forecast by Source,2021–2031
Figure 87: Middle East & Africa Demand for Microalgae in Animal Feed Sector Market Volume (Metric Tons) and Forecast by Source, 2016–2020
Figure 88: Middle East & Africa Demand for Microalgae in Animal Feed Sector Market Volume (Metric Tons) and Forecast by Source,2021–2031
Figure 89: Middle East & Africa Demand for Microalgae in Animal Feed Sector Market Value (US$ Mn) and Forecast by End Use Applications, 2016–2020
Figure 90: Middle East & Africa Demand for Microalgae in Animal Feed Sector Market Value (US$ Mn) and Forecast by End Use Applications,2021–2031
Figure 91: Middle East & Africa Demand for Microalgae in Animal Feed Sector Market Volume (Metric Tons) and Forecast by End Use Applications, 2016–2020
Figure 92: Middle East & Africa Demand for Microalgae in Animal Feed Sector Market Volume (Metric Tons) and Forecast by End Use Applications,2021–2031
Figure 93: Middle East & Africa Demand for Microalgae in Animal Feed Sector Market Value (US$ Mn) and Forecast by Country, 2016–2020
Figure 94: Middle East & Africa Demand for Microalgae in Animal Feed Sector Market Value (US$ Mn) and Forecast by Country,2021–2031
Figure 95: Middle East & Africa Demand for Microalgae in Animal Feed Sector Market Volume (Metric Tons) and Forecast by Country, 2016–2020
Figure 96: Middle East & Africa Demand for Microalgae in Animal Feed Sector Market Volume (Metric Tons) and Forecast by Country,2021–2031
The overall demand for microalgae in the animal feed sector is anticipated to surpass USD 57.54 million in 2021.
Demand for microalgae in the animal feed sector increased at a 2.3% CAGR between 2016 and 2020.
Market players are likely to focus on investing to improve ingredient quality for feed production along with rising demand for astaxanthin in the sector.
Leading microalgae producers in animal feed sector include DIC Corporation, Cyanotech Corporation, Koninkliijke DSM NV, Roquette Frères, BASF SE, Fuji Chemical Industries Co., Ltd, Parry Nutraceuticals, BGG (Beijing Gingko Group), KDI Ingredients, Sinoway Industrial Co., Ltd., INNOBIO Corporation Limited, Yunnan Alphy Biotech Co., Ltd, Algaecan Biotech Ltd., Algatechnologies Ltd., Cardax, Inc., Igene Biotechnology, Inc., Fenchem Biotek Ltd., AstaReal Inc., Valensa International, Kunming B
North America is dominating the global microalgae demand in the animal feed sector and will exhibit a value share of 36.1% in 2021. It is anticipated to lose its hold in North America.
The USA, China, Germany, Spain, Ireland and Japan are the leading producers in the market.
The demand in Europe for microalgae in the animal feed sector is expected to account for more than 27% in the year 2021, growing with a stable CAGR of 3.1%.
Leading countries driving the demand for microalgae in animal feed sector are the USA, Brazil, Germany, France, and China.
China is expected to hold more than 55% market share in the Asia Pacific, reflecting lucrative growth at 5.3% CAGR.
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Animal Feeds Microalgae Market
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