Algae-based Feed Market: By Animal Type (Poultry, Swine, Ruminant and Aquaculture) and Geography

Algae-based Feed Market size was valued at USD 3,002.00 million in 2023 and is poised to grow at a 5.5% CAGR from 2024 to 2030. In the past decade, the increasing health consciousness and awareness about the nutritional benefits of algae-based feed have been major factors for market growth. The rising consumption of feeds in poultry, swine, and aquaculture accelerates the demand; proper nutritional and quality ingredient consumption keeps domestic animals healthy and encourages excellent milk with high protein and fats, which drives the algae-based feeds in the market.

Implementing favorable policies and continuous research and development activities enhance the market demand, along with changes in government policies promoting the utilization of quality animal feeds lucrative opportunities in the market. On the other side, the health associated with red meat increases the risk of heart disease, stroke, infections, and lung and liver illness, which creates a hindrance to market growth. Region-wise, North America held the major market share in 2022 and dominated the global Algae-based Feed Market in the forecasted years.

Algae-based Feed Market Key Developments:

• In December 2022, MiAlgae's launched omega-3 product, NaturAlgae, is a dry powder with a high concentration of DHA and other oils that can be added to recipes for aquafeeds, providing the well-known health benefits that omega-3 provides. 
• In October 2022, UK-based manufacturer of feed additives Anpario Plc introduced a microalgae-derived sustainable supplement providing omega-3 fatty acids, composed of algae oil, formulated on a unique carrier system, and packaged in foil-lined bags for optimum shelf-life and product freshness.