The feed yeast market is projected to grow at a CAGR of 5.27% from 2018 to 2023
NEW YORK, March 4, 2019 /PRNewswire/ -- The feed yeast market is projected to grow at a CAGR of 5.27% from 2018 to 2023.
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The feed yeast market is projected to reach USD 2.1 billion by 2023, from USD 1.7 billion in 2018, at a CAGR of 5.27%. The feed yeast market is driven by various factors such as the increasing concerns related to animal health across the globe and the need for antibiotic alternatives in animal nutrition. However, the increasing competition for raw materials of yeast production from multiple industries is projected to hinder the growth of the market on a global level.
In terms of type, probiotic yeast is projected to witness the fastest growth from 2018 to 2023.
The consumption of brewer's yeast, or inactive yeast, in the feed is higher as compared to the other yeast types.However, recently, key companies are focusing on using probiotic or live yeast in their product offerings and launches for animal nutrition, majorly due to their health benefits.
The demand for probiotic yeast is high in developed countries.However, due to their premium price, developing countries are gradually adopting these products, which widens the scope of growth for the market.
With the increasing awareness of health benefits associated with probiotic yeast, the developed countries are witnessing an increasing demand for these types of feed yeast.
In terms of genus, the Saccharomyces spp. segment is estimated to account for the largest market share during the forecast period.
According to the industry experts, the market for feed yeast is majorly dominated across all nations by Associated British Foods plc (UK), Lesaffre (France), and Cargill (US), and approximately 95% of their product offerings are either sourced from Saccharomyces cerevisiae or is formulated with this strain. According to a report published by COFALEC in 2016, the yeast market is dominated by Saccharomyces spp., wherein 80%–85% of the products are formulated with the Saccharomyces strain, 10% of the products comprise Kluyveromyces marxianus, while the remaining products comprise either Pichia pastoris or Candida spp. Hence, the feed yeast market was dominated in 2018 by the Saccharomyces spp. segment, in terms of value.
Europe is estimated to dominate the feed yeast market in 2018.
Europe was estimated to account for the largest share of the feed yeast market in 2018, due to the high production of brewer's and probiotic yeast in countries such as Russia, the UK, and the Netherlands.Moreover, ongoing R&D activities for better and efficient application of yeast in livestock and pet food nutrition could also render the scope for market growth.
The government policies adopted by the European countries toward a ban on the use of antibiotics in feed is a major factor contributing to the growth of this market in the region. Expansion of production facilities for feed yeast in China and India and the growing awareness among livestock growers about the benefits of feed yeast are projected to provide scope for market expansion in the Asia Pacific.
In-depth interviews were conducted with Chief Executive Officers (CEOs), marketing directors, other innovation and technology directors, and executives from various key organizations operating in the feed yeast market.
The breakdown of the primaries conducted on the basis of company type, designation, and region during the research study is as follows:
• By Company type: Tier 1 – 45%, Tier 2 –30%, and Tier 3 – 25%
• By Designation: C-level – 50%, D-level – 20%, and Others* – 30%
• By Region: Asia Pacific – 40%, Europe – 30%, North America – 20%, and RoW - 10%
*Others include sales managers, marketing managers, and product managers.
Note: Tier 1: Revenue > USD 1 billion; Tier 2: USD 100 million ? Revenue ? USD 1 billion; Tier 3: Revenue < USD 100 million
The scope of this report includes a detailed study of those yeast manufacturers whose application is specifically toward animal nutrition. Key players in the feed yeast market include Associated British Foods Inc. (UK), Archers Midland Company (US), Alltech Inc. (US), Cargill (US), Angel Yeast Company (China), Chr. Hansen (Denmark), Lesaffre (France), Nutreco N.V. (Netherlands), Lallemand Inc. (Canada), Novus International (US), Zilor (Biorigin) (Brazil), and Kemin (US).
Research Coverage
The report analyzes the feed yeast market across different feed applications, yeast type, yeast genus, and regions.It aims at estimating the market size and growth potential of this market across different segments and regions.
Furthermore, the report includes an in-depth competitive analysis of key players in the market, along with their company profiles, recent developments, and key market strategies.
Key Benefits of Buying the Report:
The report will help the market leaders/new entrants in this market by providing them with the closest approximations of revenue numbers for the overall feed yeast market and its subsegments.This report will help stakeholders to better understand the competitor landscape, gain more insights to position their businesses better and devise suitable go-to-market strategies.
The report will also help stakeholders to understand the market and provide them with information on key market drivers, restraints, challenges, and opportunities.
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