December 04, 2020
According to the research report titled ‘Yeast Market Size For Animal Feed Application By Product, By Application, Industry Analysis Report, Regional Outlook, Application Development Potential, Price Trends, Competitive Market Share & Forecast, 2020 – 2026’, available with Market Study Report LLC, global yeast market for animal feed application is likely to display a substantial growth during 2020-2026.
Increasing awareness pertaining to animal health is one of the major factors driving the growth of global yeast market for animal feed application. For those uninitiated, Fermented or by products of yeast has been used as animal feed for a long time. It is basically a microscopic single-cell fungus of around 5.10 microns in size.
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Based on product landscape, the report states that yeast culture held 3.5% share in global yeast industry for animal feed applications in 2019, primarily due to increasing consumption of non-vegetarian meals. Meanwhile, the dried inactive yeast segment is likely to showcase a y-o-y growth rate of 4.5% between 2020 and 2026.
The live yeast as well as active dry yeast segment are expected to grow at 5.5% CAGR and 6.5% CAGR through 2026. It is to be noted that active dry yeast is produced using culture bioreactors or aerobic fermenters. Rising cognizance regarding animal health has impelled the demand for active dry yeast, which in turn is favoring the overall market scenario.
Elaborating on the application spectrum, the report claims that global yeast market share from layer feed application is predicted to expand with a CAGR of 6%, while the swine application segment is expected to register a CAGR of 6.5% through 2026.
While the pet food segment accounted for 2% market share in 2019, the aquaculture segment is estimated to record 5.5% CAGR over 2020-2026. Lastly, the equine application segment is anticipated to witness a 4% CAGR while the others segment is likely to grow at 2.5% CAGR through 2026.
Considering the geographical landscape, Latin America captured 10% share in worldwide yeast industry for animal feed applications, primarily driven by focus towards preventing diseases among animals. Meanwhile, the Middle East & Africa market is reckoned to experience a y-o-y growth rate of 3.5% over 2020-2026.
The major companies in global yeast market for animal feed applications are Biorigin, Lallemand Inc., Biomin GmbH, Lesaffre Group, Dox-al Italia S.p.A., Kemin Industries Inc., Trouw Nutrition USA LLC, Archer-Daniels-Midland Co., Novus International Inc., Leiber GmbH, Angel Yeast Co., Ohly, Alltech,and PrJSC Enzym Company among others.