Feed Yeast Market

New Revenue Pockets: Growing Developments in the Feed Industry of the Asian Countries and Increasing Investment from Key Players to Boost Market Growth in Feed Yeast Market

The feed yeast market is estimated to account for USD 1.7 billion in 2018 and is projected to reach USD 2.1 billion by 2023, growing at a CAGR of 5.27% during the forecast period. The rising demand for natural growth promoters in the feed industry drives the feed yeast market. The benefits associated with yeast-based feed products is the major factor contributing to the growth of this market globally. With a growing population and declining arable land for crop and livestock production in many Asia Pacific countries, manufacturers, farmers, and governments are witnessing tremendous pressure to meet the growing demand for food. The increasing disposable income among individuals in the region has led to a surge in demand for quality food. Moreover, the growing awareness about nutrient requirements in the diet among consumers has also resulted in high demand for protein-rich nutritional food. Thus, animal-based foods such as meat, eggs, and milk with rich nutritional value is in high demand. As per the FAO figures of 2017, the consumption rate of meat products in East Asia had grown at a rapid pace. The figure reached to 50 kg per person in 2015 from nearly 9 kg per capita in the 1960s.

Furthermore, the feed yeast market is also driven by the increasing focus of manufacturers towards natural-based sources for the production of feed additives such as yeast. The nutritional value and other antibiotic properties of yeast have led the major players and small companies to develop feed yeast products as an additive or final product that can be fed to the animals on the farm directly. It has been observed that yeasts such as Saccharomyces cerevisiae, Kluyveromyces marxianus, and Candida utilis have a positive impact on animal health; they provide nutrition to animals and thus are used as feed additives.

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Although the use of yeast as a feed additive is minimal as compared to other microorganisms such as bacteria, the nutritional benefits associated with yeast has been driving its demand in the feed industry. These products are gaining the attention of feed and feed additive manufacturers and encouraging them to incorporate yeast as one of the important ingredients in them.

China is projected to be the largest market in the region for livestock consumption due to the changing diet patterns and high demand protein-rich food. With the increase in demand for high-quality livestock, the demand for feed additives is also increasing at the same pace. This is due to the related health concerns and increasing diseases across various livestock species. However, the ban on antibiotics as growth promoters in the livestock sector in the European and North American countries has indirectly impacted the Asia Pacific countries as well, which has encouraged key producers of feed additives to develop natural growth promoters.

The Asia Pacific is projected to witness the fastest growth in the feed yeast market from 2018 to 2023. The growth of the feed yeast market in the region is driven by the increasing population of livestock in countries such as China, India, and Japan. Moreover, feed additive companies such as Archer Daniels Midland Company (US) announced the establishment of a new feed premix plant in Zhangzhou, China. The establishment aims at the expansion of animal nutrition business in China. In addition, Alltech (US) recently opened its trace mineral and feed manufacturing plant in Pune (India). The new facility would help the company to serve not only the local market but also South Asia and Southeast Asia.

Related Reports:

Feed Yeast Market by Type (Probiotic Yeast, Brewer’s Yeast, Specialty Yeast, and Yeast Derivatives), Livestock (Cattle, Swine, Poultry, Aquatic Animals, and Pets), Genus (Saccharomyces spp. and Kluyveromyces spp.), and Region - Global Forecast to 2023

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Report Code
AGI 2661
RI Published ON
2/21/2019
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