Global Algae-Based Animal Feed and Ingredients Market 2020-2024 | Evolving Opportunities with Algea and Alltech Inc. | Technavio

Technavio has announced its latest market research report titled global algae-based animal feed and ingredients market 2020-2024 (Graphic: Business Wire)

LONDON--()--The algae-based animal feed and ingredients market is poised to grow by USD 1.13 billion during 2020-2024, progressing at a CAGR of over 8% during the forecast period. Request free sample pages

Read the 120-page report with TOC on "Algae-Based Animal Feed and Ingredients market Analysis Report by Product (Animal feed and Animal feed ingredient), Distribution Channel (Offline and Online), Application (Poultry, Swine, Ruminant and Aquaculture), Geography (APAC, Europe, MEA, North America and South America), and the Segment Forecasts, 2020-2024".

https://www.technavio.com/report/algae-based-animal-feed-and-ingredients-market-industry-analysis

The market is driven by the increasing consumption rate of aquaculture products. In addition, the increasing meat and dairy production and consumption is anticipated to boost the growth of the algae-based animal feed and ingredients market.

Over the last decade, awareness of the nutritious benefits of seafood has significantly increased, which has escalated the consumption rate of aquaculture products. Aquaculture products, especially farmed salmon and shrimp are highly nutritious sources of food that comprise a significant amount of important proteins, vitamins (A, B, D, and Niacin), and minerals (iodine, iron, phosphorus, and zinc). Therefore, the increase in demand for aquatic products will boost the aquaculture market which in turn will lead to market growth over the forecast period.

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Major Five Algae-Based Animal Feed and Ingredients Companies:

Algea

Algea operates its business through two divisions, such as ALGEAFEED SOLUTIONS and ALGEAFERT SOLUTIONS. The company offers high quality seaweed meal to grow healthy and strong livestock. The company offers stockfeed with high quality ingredients for pigs, cattle, horses, sheep, fish, and pets.

Alltech Inc.

Alltech Inc. has business operations under four segments, such as animal nutrition and health, animal feed, crop science, and food and beverage. The company offers algae-based animal feed and ingredients through its animal nutrition and health and animal feed business segment.

Archer Daniels Midland Co.

Archer Daniels Midland Co. operates its business through various segments, such as origination, oilseeds, carbohydrate solutions, nutrition, and other. The company offers algae-based animal feed and ingredients through its nutrition business segment.

Associated British Foods Plc

Associated British Foods Plc has business operations under various segments, including grocery, sugar, agriculture, ingredients, and retail. The company offers algae-based animal feed and ingredients for animals through its ingredients business segment.

Cellana Inc.

Cellana Inc. operates its business through three segments, namely ReNew Omega 3, ReNew Feed, and ReNew Fuel. The company offers algae-based animal feed and ingredients through its ReNew Feed product segment.

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Algae-Based Animal Feed and Ingredients Product Outlook (Revenue, USD Billion, 2020-2024)

  • Animal feed
  • Animal feed ingredient

Algae-Based Animal Feed and Ingredients Distribution Channel Outlook (Revenue, USD Billion, 2020-2024)

  • Offline
  • Online

Algae-Based Animal Feed and Ingredients Application Outlook (Revenue, USD Billion, 2020-2024)

  • Poultry
  • Swine
  • Ruminant
  • Aquaculture

Algae-Based Animal Feed and Ingredients Geographic Outlook (Revenue, USD Billion, 2020-2024)

  • APAC
  • Europe
  • MEA
  • North America
  • South America

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Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/

Release Summary

The algae-based animal feed and ingredients market is poised to grow by USD 1.13 billion during 2020-2024, progressing at a CAGR of over 8%.

Contacts

Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/