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Animal Feed Inactive Yeast Market Trends, Top Companies, Share, Growth And Forecast 2033
Animal Feed Inactive Yeast Market Trends
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According to The Business Research Company's, The animal feed inactive yeast market size has grown strongly in recent years. It will grow from $154.61 billion in 2023 to $163.47 billion in 2024 at a compound annual growth rate (CAGR) of 5.7%. The growth in the historic period can be attributed to increased demand for high-quality animal nutrition, focus on livestock health and performance, shift towards natural and sustainable feed additives, efforts to improve feed conversion efficiency, growing awareness of antimicrobial properties.
The animal feed inactive yeast market size is expected to see steady growth in the next few years. It will grow to $196.63 billion in 2028 at a compound annual growth rate (CAGR) of 4.7%. The growth in the forecast period can be attributed to increasing emphasis on gut health in animals, expansion of the livestock industry, research on functional benefits and nutrient profiles, regulatory support for natural feed additives, integration in specialty and functional feeds. Major trends in the forecast period include technological advancements in yeast production, collaborations and partnerships in the industry, regulatory support and compliance, focus on monogastric and ruminant nutrition.
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Market Drivers and Trends:
Increasing meat consumption is expected to propel the growth of the animal feed inactive yeast market going forward. Meat is a term used to describe the edible muscular tissue of animals, typically mammals or birds, consumed as food by humans. The animal feeds inactive yeast is commonly used in livestock production as a nutritional supplement for animals. It is added to animal feed formulations to provide various benefits and improve the overall health and performance of livestock, increasing meat quality. For instance, in March 2023, according to the Australian Bureau of Statistics, an Australia-based government agency, beef production increased by 11.3% to reach 524,335 tons. Further, mutton production increased by 31.8% to 58,662 tons. Therefore, increasing meat consumption drives the demand for the animal feed inactive yeast market.
Product innovation is a key trend gaining popularity in the animal feed inactive yeast market. Major companies operating in the animal feed inactive yeast market are developing innovative products to sustain their position in the market. For instance, in March 2022, Lallemand Inc., a US-based animal nutrition company, launched YELA PROSECURE. It is a specifically designed hydrolyzed yeast that offers highly digestible and functional nutrients that support animal performance, digestive care, and feed palatability while contributing to the feed protein balance. This innovative product uses a controlled hydrolysis process by adding selected exogenous enzymes to the biomass. It ensures high nutrient digestibility and functionality while being reliable and available in volume. Additionally, it benefits animals by increasing nutrient digestibility, improving gut health, reducing the risk of disease, increasing growth rates, and improving feed conversion efficiency.
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Major Key Players of the Market:
Cargill Inc., The Archer-Daniels-Midland Company, AB Enzymes GmbH, Ohly GmbH, Feed One Co. Ltd., Novozymes A/S, ABF Ingredients, Angel Yeast Co. Ltd, Alltech, Chr. Hansen Holding A/S, Lallemand Inc., Kemin Industries, Phibro Animal Health Corporation, Novus International Inc., Scientific Feed Laboratory Co.Ltd., Lesaffre, DSM Nutritional Products AG, Biomin Holding GmbH, AB Mauri India Private Limited, ABITEC Corporation, Titan Biotech Ltd., Phileo by Lesaffre, Kothari Fermentation and Biochem Ltd., Berg + Schmidt GmbH & Co. KG, Biofeed Technology Inc., Leiber GmbH, Shandong Bio Sunkeen Co. Ltd., Shandong Huayou Yeast Corporation, ICC Brazil, Oriental Yeast India Pvt.Ltd.
Animal Feed Inactive Yeast Market 2024 Key Insights:
• The animal feed inactive yeast market size is expected to see steady growth in the next few years. It will grow to $196.63 billion in 2028 at a compound annual growth rate (CAGR) of 4.7%.
• Meat Industry Growth Drives Surge In Animal Feed Inactive Yeast Market
• Lallemand's Breakthrough In Animal Feed Inactive Yeast
• Asia-Pacific was the largest region in the animal feed inactive yeast market in 2023
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