Demand for Microalgae in Pet Food Sector value is expected to reach US$ 35.5 Mn by 2031 and growing at a CAGR of 4.8% for 2021-31

 

Separation anxiety is an increasingly common condition among pets, particularly among those of urban pet owners. Hectic lifestyle and stress often result in destructive behavior in pets such as shredding, incontinence, and excessive salivation. The efficacy of microalgae in controlling anxiety will support adoption in the long term. According to FMI’s research, the demand for microalgae in pet food sector will hit US$ 22 Mn in 2021, growing at a CAGR of 4.8% through 2031 end.

Travel, boarding, grooming, and visits to the veterinarian can be stressful for pets. Calming and sedative drugs, such as Prozac, can cause pets to become drowsy and lethargic. Pet pills containing microalgae can help alleviate anxiety without causing drowsiness or sluggishness. Microalgae-based pet supplements are becoming popular as they aid in the reduction of anxiety in pets.

The primary driver of the microalgae in the pet food sector market is the rising rate of pet ownership and the resultant demand for nondiscretionary and discretionary products including treats, toys, and other food products.

The increasing adoption of cats and dogs as companions for families is driving the pet food market. Japan for instance, has a larger number of pets as compared to the number of children under 15 years. Microalgae is a primary ingredient in the pet food. Consequently, rising pet adoption is fueling the demand for microalgae in pet food.

To Get Sample Copy of Report visit @ https://www.futuremarketinsights.com/reports/sample/rep-gb-13362

Key Takeaways from the Demand for Microalgae in Pet Food Sector Study:

  • China holds the lead in the East Asia market accounting for more than 52% owing toa vast population, and growing trends of pet humanization.
  • The U.S. leads the North America market size supported by consumer demand for pet food free of artificial colours, preservatives, and flavours.
  • Spirulina products account for a share of 45.6% in 2021, supported by a superior nutritional profile.
  • Dog feed applications are estimated to account for 46.5% of the global market in 2021, owing to higher adoption as pets.
  • Fresh water microalgae hold 84.4% of the global microalgae market. However, marine water alternatives are expected to rise with a CAGR 6.5%.

“The clean label movement is gaining momentum in response to the rising demand for transparency regarding feed and food ingredients. The demand for microalgae in pet food formulations has grown due to increasing awareness about pet nutrition and health, with easy access to information. These factors will will drive long term growth,” said a lead analyst at FMI.

Naturally Derived Ingredients in Pet Food Market Drives Expansion

Consumers have become more attentive towards pet food and ingredients use than ever before. As natural and organic options become a popular choice for human food, an increasing number of pet owners are looking for similar attributes in food for their pets.

Customers expect pet food that is free of preservatives, artificial colors, and flavors, in addition to checks on toxic pesticides, antibiotics, and synthetic hormones. As a result, naturally derived ingredients such as microalgae are in high demand in pet food and animal feed.

Who is Winning?

To increase penetration in untapped markets, major companies are focusing on product development strategies. Key players operating in the global market also focusing on mergers and acquisitions with the local manufacturers to reach emerging markets such as India, China, and Brazil.

Some of the leading companies offering microalgae in the pet food sector are DIC Corporation, Koninkliijke DSM NV, Roquette Frères, Sun chlorella, Cellana LLC, Fuji Chemical Industries Co., Ltd., Corbion (TerraVia Holdings), Yunnan Green-A-Bio-engineering Co Ltd., Buggypower, Algatec (Lusoamoreiras), Cyanotech Corporation, BASF SE, Parry Nutraceuticals, Beijing Gingko Group, KDI Ingredients, Sinoway Industrial Co. Ltd and others.

Get Valuable Insights into Demand for Microalgae in Pet Food Sector

Future Market Insights, in its new offering, provides an unbiased analysis of the demand for microalgae in pet food sector presenting historical demand data (2016-2020) and forecast statistics for the period from 2021-2031. The study divulges compelling insights on the demand for microalgae in pet food sector based on species type (spirulina, chlorella, dunaliella, haematococcus, crypthecodinium, schizochytrium, euglena, nanochloropsis, phaedactylum, and others), by source (marine water and fresh water), and by end use application (dog feed, cat feed, birds and others) across five major regions.

For Complete TOC @ https://www.futuremarketinsights.com/reports/microalgae-pet-food-sector/table-of-content

Key Points Covered in Demand for Microalgae in Pet Food Sector Study

  • Market estimates and forecast 2015-2031
  • Key drivers and restraints impacting market growth
  • Segment-wise, Country-wise, and Region-wise Analysis
  • Competition Mapping and Benchmarking
  • Brand share and Market Share Analysis
  • Key Product Innovations and Regulatory Climate
  • COVID-19 Impact on Demand for Microalgae in Pet Food Sector and How to Navigate
  • Recommendation on Key Winning Strategies

Key Questions Answered in the Report

  • What is the growth outlook for microalgae in the pet food sector?

The demand for microalgae in the pet food sector is projected to grow at a CAGR of 4.8% from 2021 – 2031.

  • What is the current microalgae in pet food sector market value?

Microalgae in the pet food sector market is estimated to be valued at US$ 22.1 Mn in 2021.

  • What will be the estimated volume growth in demand for microalgae in pet food sector in 2021?

In 2021 the microalgae in pet food sector market accounted for 1653 DW tons.

  • At what rate did the demand for microalgae in pet food sector rise in the last 5 years?

Between 2016 and 2020, the demand for microalgae in pet food sector grew at a CAGR of 4%.

  • Who are the top players making microalgae available in pet food sector?

The top 5 players of the microalgae in pet food sector market are Koninkliijke DSM NV, Fuji Chemical Industries Co., Ltd., Yunnan Green-A-Bio-engineering Co Ltd., Sun chlorella, and DIC Corporation. These companies cumulatively account for 55-60% of the global market.

  • What is the North America demand outlook for microalgae in pet food sector?

The North America demand for microalgae in pet food sector is expected to grow at a moderate CAGR of 3.9%.

  • At what rate will the demand microalgae in pet food sector grow in Europe?

The demand for microalgae in pet food sector is forecast to grow at a 4.5% CAGR through 2031 in Europe.

  • What is the Y-o-Y growth of the global demand for microalgae in pet food sector?

In 2020 – 2021, the y-o-y growth of the demand for microalgae in the pet food sector hit 7%.

  • What are the prospects of demand microalgae in pet food sector in China and Japn for 2021?

In 2021, the China and Japan will account for 52.4% and 11.9% of the East Asia market respectively.

  • What are the key trends affecting the demand for microalgae in pet food sector?

Use of pet supplements to reduce anxiety in pets, year-round harvesting, naturally-derived ingredients, preference for quality, and increasing demand from pet owners, cattle farmers, and hobbyists concerning the advantages of microalgae in animals feed are the key trends observed in the market.

About FMI

Future Market Insights (FMI) is a leading provider of market intelligence and consulting services, serving clients in over 150 countries. FMI is headquartered in Dubai, the global financial capital, and has delivery centers in the U.S. and India. FMI’s latest market research reports and industry analysis help businesses navigate challenges and make critical decisions with confidence and clarity amidst breakneck competition. Our customized and syndicated market research reports deliver actionable insights that drive sustainable growth. A team of expert-led analysts at FMI continuously tracks emerging trends and events in a broad range of industries to ensure that our clients prepare for the evolving needs of their consumers.

 

Comments

Post a Comment

Popular posts from this blog

Meat Seasonings Market Estimated To Experience A Hike in Growth Global Industry Size, Growth, Segments, Revenue, Manufacturers

  Meat Seasonings Market was valued US$ 4,599.4 Mn in 2022 and is expected to reach US$ 8963.5 Mn in 2032, likely to surge at CAGR of 6.9% during forecast period 2022-2032. In the past few decades, the worldwide consumption and production of meat have increased rapidly and, in many parts of the world, per capita consumption of meat is continuing to grow. However, regions like North America and Europe, are gradually losing market shares, regions like Latin America and Southeast Asia have become new centers of production and consumption. Reasons for the success of meat products are: i) the healthy image of the product, mainly due to the high protein/ low-fat content coupled with a balanced n-6 to n-3 PUFA ratio; ii) lower price with respect to red meats.  Rich presence of essential oils and oleoresins determine the aromatic, flavoring, coloring and pungent properties of spices and condiments. Antiseptic and preservative property of certain spices is due to the essential oil...
Read more

Astaxanthin Market In-depth Insights, Revenue Details, Regional Analysis by 2034

  According to Future Market Insights (FMI), global  astaxanthin sales  are estimated to be worth  USD 273.2 million  in 2024. The market is expected to reach  USD 665.0 million  by 2034. It is projected to surge at a CAGR of  9.3%  in the forecast period 2024 to 2034. Astaxanthin’s increasing demand is driven by its use in aquaculture, animal feed, nutraceuticals, cosmetics, pharmaceuticals, and food & beverages industries. It is widely used as a food ingredient for prawns and fish to enhance coloration and commercial value. Astaxanthin benefits aquatic animals by increasing stress tolerance, performance, immune-related gene expressions, reproductive capacity, survival, and disease resistance. The market is expected to rise due to the consistent demand from the food industry, where astaxanthin is used as a food additive due to its health benefits, such as anti-inflammatory effects and prevention of cardiovascular diseases. Studies ha...
Read more

Detox Drink Market: Applications and Regional Insights During the Forecasted Period 2024 to 2034

  According to Future Market Insights (FMI), the  global detox drink market  is expected to expand at a CAGR of  3.3%  by 2034. The industry’s estimated value is set to increase from  US$ 1,689.0 million  in 2024 to  US$ 2,345.0 million  in 2034. Increasing health-conscious population worldwide is projected to surge demand for food products that are natural and organic. Consumers prefer products that offer multiple benefits, such as continuous body hydration & electrolytes, antioxidants, and fiber, fueling demand for detox drinks. Rising acceptance of preventive healthcare products with more natural ingredients and easy accessibility of these products are set to fuel the market. Also, the appeal of non-GMO and all-natural ingredients drives market expansion, matching the broad trend of health-conscious consumer choices. Product manufacturers and leading companies are focusing on research & development to improve detox drinks in ...
Read more