Algae-based Feed Market Size, Growth Opportunities 2024-2030

According to Precision Business Insights' (PBI) latest report, the market value of the Algae-based Feed Market size was valued at USD 3,002.00 million in 2023 and is projected to grow at a 5.5% CAGR from 2024 to 2030. The primary factors that drive the market are the growing awareness of the nutritional benefits of algae-based feed, rising animal health consciousness, and increasing demand for high-quality and efficient nutritional feed.

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The Algae-based Feed Market Detailed Segmentation:
Based on the animal type, the market is segmented into the following:
• Poultry
• Swine
• Ruminant
• Aquaculture

Based on type, aquaculture holds the highest market share. The major factor for the rise of this segment is that the use of Aquaculture includes breeding, raising, and harvesting fish, shellfish, and aquatic plants, which are beneficial to extract omega 3 fatty acids for nutritional supplement manufacture also, the propelled meat and dairy production and high nutritional value of aquaculture products consequences high demand of algae-based feed in the market. The surging expansion of animal feed, as well as the agriculture industry and rising high spending on providing better feed to animals, propel the market growth; this will drive the global market growth at a significant rate.

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Based on the region, the market is segmented into the following:
• North America
• Europe
• Asia Pacific
• Latin America
• Middle East & Africa

Asia Pacific region is expected to grow significantly in the global Algae-based Feed Market size over the forecast period. It is attributed to the growing population, the high demand for milk consumption, and exponential growth in aquaculture, driving the market with significant growth.

Strategic New Product Launches, Mergers, Acquisitions, and Agreements are the key strategies adopted by market players:
The Algae-based Feed Market further reveals that the key players are implementing strategies such as the extension of product collection through research and development activities, product launches, acquisitions, mergers, and strategic alliances to improve their market position and strengthen the market revenue share.

The key players in the algae-based feed market report are Cargill Incorporated, ADM Animal Nutrition, Dupont, Evonik, BASF SE, Ajinomoto Co Inc., Novozymes, Chr. Hansen Holding A/S, TEGASA, Nutreco, Kemin Industries Inc., Adisseo, Alltech.

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This release was published on openPR.