June 04, 2020
As per the 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 feel application is expected to record substantial growth over 2020-2026.
Global yeast industry for animal feed application is primarily driven by rising awareness and growing importance of animal health. Yeast is microscopic fungi formed up of single-cell organisms having a size of 5-10 microns. These are abundant in nature and can be found in cereal grains, hays, grain by-products, and in soil & water. Yeast for animal feed is generally sourced by fermentation or as by-products from commercial yeast products, distilleries or breweries.
Based on the product terrain, yeast culture segment held about 3.5% market share in the recent past, due to rise in consumption of non-vegetarian meals products. Dried inactive yeast segment is poised to experience a growth rate of 4.5% during the forecast period, whereas live yeast segment will record a CAGR of 5.5% through 2026.
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The report cites that active dry yeast market segment is projected to expand at 6.5% CAGR over the forecast duration. The growth is attributable to rising focus towards maintaining animal health in tandem with widespread use of dry yeast to reproduce and form new gen of yeast cells.
Speaking of the application spectrum, cattle segment is split into dairy, calf, and others, wherein others segment is set to expand with a CAGR of 5.5% over the analysis period. Layer segment from poultry application is slated to grow with over 6% CAGR through 2026. Grower segment from swine application will observe a CAGR of 6.5% over the forecast duration.
Yeast market share from aquaculture application is predicted to record 5.5% CAGR during the projected timeframe. It includes shrimp, salmon, trout, carp, and others. Revenue share from shrimp is reckoned to expand with a CAGR of 5.5% over the analysis timeline, owing to spike in sea food consumption in recent years.
Pet food application segment accounted for 2% market share in the past year, driven by inclination towards feeding high protein diet to pets among pet parents. Equine segment is estimated to witness around 4% CAGR over the assessment period.
As per the regional analysis, Latin America yeast market for animal feed application accounted for 10% share in the recent past, owing to growing awareness towards disease prevention in animals. On the other hand, Middle East & Africa yeast market for animal feed application is estimated to register a CAGR of 3.5% over 2020-2026.
Key players in global yeast market for animal feed application are Ohly, Enzym Company, Leiber GmbH, Novus International, Inc., Biorigin, ADM, Trouw Nutrition (Nutreco), Alltech, Dox-al Italia S.p.A., Lallemand, Inc., Angel Yeast, Lesaffre Group, Biomin GmbH, and Kemin Industries, Inc.