Yeast Extracts For Animal Feed Market Worth $553.2 Million By 2030

Yeast Extracts For Animal Feed Market Growth & Trends

The global yeast extracts for animal feed market size is expected to reach USD 553.2 million by 2030, registering a CAGR of 7.1% over the forecast period, over the new report by Grand View Research, Inc. The growth is majorly driven by the rising demand for animal feed ingredient that increases the palatability of feed. The yeast extract is used in the formulation of animal feed to help promote digestion, growth of fiber-digestion bacteria, stability and to optimize their performance & improve the retention of support minerals. Consumers are increasingly shifting toward adopting nutritious and bio-based feed owing to the rising awareness regarding maintaining animal health and enhancing their performance.

This shift in consumer preference is expected to have a positive impact on the yeast extracts market over the forecast period. Rising concerns among animal owners have been observed on account of various health issues due to excessive intake of antibiotics. Yeast extracts have shown promising results as an antibiotic alternative. These extracts have observed high penetration in the animal feed applications considering their proficiency to augment the performance of swine, poultry, aqua, and other feeds. However, limited awareness about them among the end-users is expected to restrict the growth of the market.

The COVID-19 pandemic disrupted the global supply chain and had an adverse effect on the manufacturing and production capacity of many industries. The production and consumption of yeast extracts are highly influenced by their demand from the end-use industry. Thus, any fluctuation in the demand from the feed industry is anticipated to directly impact the demand for yeast extracts. Furthermore, the demand for animal feed products has seen a sharp decline owing to the lockdown imposed in various countries including France, the U.K., Italy, Germany, and India.

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Yeast Extracts For Animal Feed Market Report Highlights

• The swine and aquaculture application segments are projected to register the fastest CAGRs of 8.1% and 8.0%, respectively, from 2022 to 2030 owing to the increasing consumption of swine meat, such as hams, and the growing demand for aquatic animals in the food sector, globally

• Asia Pacific is estimated to be the fastest-growing regional marketfrom 2022 to 2030 due to the increasing production and growing exports of feed products from key countries like Japan and China

• Yeast extracts are primarily used as a rich source of nitrogenous compounds in the form of specialty minerals supplements, amino acids, vitamins, and others

• The global market has been growing at a fast pace owing to the constantly increasing raw material availability, low toxicity, and its green image in the minds of end-use industries and consumers

• The yeast extract market is one of the dynamic industries that reflect changes based on consumer behavior, competitive landscape, competitor growth, new product development, and many such factors. The manufacturing companies are highly focused on innovation, thereby pushing the market growth further

Yeast Extracts For Animal Feed Market Segmentation

Grand View Research has segmented the global yeast extracts for animal feed market report on the basis of basis of application and region:

Yeast Extracts For Animal Feed Application Outlook (Volume, Tons; Revenue, USD Million, 2018 - 2030)

• Poultry

• Swine

• Cattle

• Aquaculture

• Others

Yeast Extracts For Animal Feed Regional Outlook (Volume, Tons; Revenue, USD Million, 2018 - 2030)

• North America

  • U.S.

  • Canada

  • Mexico

• Europe

  • Germany

  • U.K.

  • France

  • Italy

• Asia Pacific

  • China

  • India

  • Japan

  • South Korea

  • Thailand

• Central & South America

  • Brazil

  • Argentina

• Middle East & Africa

  • Saudi Arabia

  • South Africa

List of Key Players of Yeast Extracts For Animal Feed Market

• Lallemand Inc.

• Garzanti Specialties S.p.A

• AngelYeast Co., Ltd.

• Leiber

• Alltech

• Biorigin

• Ohly

• Phileo by Lesaffre