The scope of our recent study on the "Organic Selenium Yeast for Animal Feed Market Forecast to 2031 - Global Analysis - by Livestock and Geography" includes the factors fueling the organic selenium yeast for animal feed market growth, revenue estimation, and forecast, market share analysis, and the identification of significant market players and their key developments.
The organic selenium yeast for animal feed market size is expected to growth from US$ 4.26 million in 2023 to US$ 6.46 million by 2031; it is estimated to register a CAGR of 5.3% from 2023 to 2031.
Enhancing the selenium content of animals' diets boosts the productivity of their egg, meat, and milk production. More significantly, it raises these products' nutritional content and quality. Thus, with growing awareness, livestock owners are significantly using animal feed enriched with organic selenium yeast. Thus, the growing livestock population and animal feed industry drive the organic selenium yeast for animal feed market growth.
Livestock farmers and pet owners seek proper nutrition for their animals to enhance their performance and productivity and fulfill their nutritional requirements. With rising awareness about clean-label animal nutrition products, livestock farmers and pet owners check the nutrients and ingredients included in supplements to ensure that the animals receive the most appropriate and beneficial nutrients. They search for products free of artificial additives, preservatives, and fillers. The increasing inclination toward healthy diet and growing awareness regarding the benefits of natural ingredients in animals have upsurged the demand for animal feed infused with natural and organic nutrients.
The livestock animals who consume organically made food offer meat that has high nutritional value. Organic milk and meat are rich in various nutrients such as enzymes, bioflavonoids, and antioxidants. Hence, health-conscious consumers prefer organic meat over conventional as it does not contain pesticides. Due to the rising demand for organic meat and dairy products, the poultry sector, livestock farms, and animal husbandry have focused on purchasing high-quality organic feed products to supply organic meat to consumers. Thus, animal feed manufacturers are fortifying feed with organic nutrients to cater to the growing demand. Therefore, the preference for natural and organic ingredients over synthetic in animal feed is expected to create huge opportunity for market growth.
North America is expected to register a higher CAGR in the forecast period. The US is one of the significant markets for organic selenium yeast for animal feed application in North America. The demand for organic selenium yeast for feed is gradually growing in the US due to the growing requirement for healthy feed ingredients among animal feed manufacturers. The domestic animal feed manufacturing industry largely relies on the free-trade agreement with Canada and Mexico [North American Free Trade Agreement's (NAFTA) implementation], which has allowed exports of feed ingredients, feed, and additives. The trade agreement and the growing livestock industry fuel the demand for animal feed and further propels the requirement for feed ingredients such as organic selenium yeast across the US. Additionally, the country remains the world's largest animal feed producer and exporter and is home to many of the world's leading animal feed producers.
The organic selenium yeast for animal feed market position in the US has been bolstered by growing awareness regarding the advantages of specialty feed additives among American livestock farmers. Adisseo, a US-based company, offers Selisseo, an organic source of selenium consisting of hydroxy-selenomethionine or HMSeBA and is FDA-approved for use in poultry, swine, and cattle in the US and approved for use in all species in Canada. Moreover, the US Food and Drug Administration approved the use of Sel-Plex (Organic selenium developed by Alltech) as a supplement to feed for turkey, chickens, swine, beef, equines, and pets. Thus, such government initiatives and support fuel market growth.
Australia is one of the rapidly growing markets for organic selenium yeast for animal feed across Asia Pacific. Australia is the second largest producer of beef globally, after Brazil. The growing livestock production and increasing awareness regarding quality meat and milk products boost the demand for animal feed in the country. According to Alltech Feed Survey 2021, animal feed production majorly comes from more than 160 mills in the country. Moreover, the rising demand for quality meat pushes livestock farmers to adopt nutritional animal feed infused with various nutrients. In Australia, low-selenium soils appear to be responsible for selenium deficiency disorders in livestock. Thus, the preference for nutrient-enriched animal feed is high among livestock owners in the country, which further boosts the organic selenium yeast for animal feed market. India is also one of the significantly growing markets for organic selenium yeast in Asia Pacific.
The significant poultry, cattle, and animal feed industries in India are among the major drivers of the organic selenium yeast for animal feed market. Deficiencies of copper, cobalt, and selenium/vitamin E are common among cattle in the country. Selenium deficiency has been associated with reduced fertility. Also, skeletal, cardiac, and respiratory muscles are the most susceptible to damage by selenium and Vitamin E deficiency. Owing to these factors, the demand for organic selenium yeast is high among feed manufacturing companies in India. However, the market is unorganized in the country due to low awareness about feed additives. Also, there is no proper regulatory framework in the country, which hampers the organic selenium yeast for animal feed market growth in India.
Based on livestock, the pets segment is projected to register the fastest CAGR from 2023 to 2031. Pet adoption is significantly increasing across the globe. Pet owners are investing in special pet diets and indulgent products. Pet food is enriched with specialty nutrients such as various vitamins and minerals, boosting the demand for selenium yeast. Organic selenium yeast can be absorbed in the pet's bloodstream and stored in its cells for use during stress or overexertion. It also helps promote healthy pets and boosts overall longevity. Thus, various manufacturers offer pet food products infused with organic selenium yeast. For instance, Nature's Select-a US-based pet food manufacturer-offers dry, freeze-dried, and canned pet food enriched with organic selenium yeast.
Global Organic Selenium Yeast for Animal Feed Market Breakdown - by Region
The report includes the segmentation of the global organic selenium yeast for animal feed market as follows:
The organic selenium yeast for animal feed market is segmented on the basis of livestock and geography. Based on livestock, the market is segmented into poultry, ruminants, swine, aquaculture, pets, and others.
By geography, the market is broadly segmented into North America, Europe, Asia Pacific, the Middle East & Africa, and South & Central America. The North America market is further segmented into the US, Canada, and Mexico. The organic selenium yeast for animal feed market in Europe is sub-segmented into Germany, France, the UK, Italy, Spain, and the Rest of Europe. The Asia Pacific organic selenium yeast for animal feed market is further categorized into China, India, Japan, Australia, South Korea, and the Rest of Asia Pacific. The market in the Middle East & Africa is further segmented into South Africa, Saudi Arabia, the UAE, and the Rest of Middle East & Africa. The South & Central America market is further categorized into Brazil, Argentina, and the Rest of South & Central America.
Contact Us
Contact Person: Sameer Joshi
Phone: +1-646-491-9876
Email Id: sales@premiummarketinsights.com