Global Algae-based Animal Feed and Ingredients Market 2018-2022
About Algae-based Animal Feed and Ingredients
Algae refer to a large group of different, not closely related, organisms of different phylogenetic groups, which represent many taxonomic divisions.
Technavio’s analysts forecast the global algae-based animal feed and ingredients market to grow at a CAGR of 8.39% during the period 2018-2022.
Covered in this report
The report covers the present scenario and the growth prospects of the global algae-based animal feed and ingredients market for 2018-2022. To calculate the market size, the report considers the revenue generated from the sales of algae-based animal feed and ingredients.
The market is divided into the following segments based on geography:
Technavio Announces the Publication of its Research Report – Global Algae-based Animal Feed and Ingredients Market 2018-2022
Technavio recognizes the following companies as the key players in the global algae-based animal feed and ingredients market: Algea, Archer Daniels Midland Company, Associated British Foods, Royal DSM, Spectrum Brands
Commenting on the report, an analyst from Technavio’s team said: “The latest trend gaining momentum in the market is Growth in medicated animal feed and ingredients. Medicated feed and ingredients are formulated to maintain health, promote growth, improve feed efficiency, and prevent diseases among the livestock. Medicated feed and ingredients comprise highly concentrated forms of drugs used in the form of mill premixes, super concentrates, fortifiers, top dressings, complete feed, or feed as a free choice supplement. Other forms of medicated feed and ingredients include diluted drug premixes, feed concentrates, supplements, and other mixtures that require further mixing with one or more feed and ingredients before being fed to the livestock.”
According to the report, one of the major drivers for this market is Algae cultivation saves natural resources including land and water. The cultivation of algae has negligible environmental impact on natural resources. For instance, cultivation of algae requires 3% of the land and 2% of fresh water when compared to land crops. Algae usually grows in wastewater, and the yield is good enough to cater to the nutritional needs of livestock more effectively than the resource intensive grain-based stock feed.
Further, the report states that one of the major factors hindering the growth of this market is Increasing diseases outbreak in livestock. Outbreaks of epidemic contagious diseases that affect livestock lead to the loss of livestock produce such as meat, milk, dairy products, and other related products, and is a challenge to the animal feed market as well. Consequently, the death of livestock affects the consumption pattern of animal feed and also affects the sales and revenue of the animal feed market and the algae-based animal feed and ingredients market. Disease outbreak disrupts livestock product trade and inhibits sustained investment in livestock production.
Algea, Archer Daniels Midland Company, Associated British Foods, Royal DSM, Spectrum Brands
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