Algae-Based Animal Feed and Ingredients Global Market Report 2024

The algae-based animal feed and ingredients market has grown strongly in recent years. It will grow from $3.42 billion in 2023 to $3.75 billion in 2024 at a compound annual growth rate (CAGR) of 9.8%. The growth observed in the historical period can be attributed to several factors, including increased sustainability concerns in animal agriculture, a growing demand for nutrient-rich animal nutrition, the exploration of alternative protein sources, regulatory support for sustainable practices, and heightened awareness of the environmental impact in livestock farming.

The algae-based animal feed and ingredients market is expected to see strong growth in the next few years. It will grow to $5.22 billion in 2028 at a compound annual growth rate (CAGR) of 8.6%. The anticipated growth in the forecast period can be attributed to the sustained emphasis on sustainable agriculture, an increasing demand for functional feed ingredients, the expansion of the aquaculture industry, consumer preference for sustainable animal products, and ongoing research and development in feed technology. Noteworthy trends expected in the forecast period include the diversification of algae species in feed formulations, collaborations and partnerships within the industry, the integration of algae-based ingredients in pet nutrition, technological innovations in algae cultivation, and global regulatory support and standards.

The anticipated increase in meat consumption is expected to drive the growth of the algae-based animal feed and ingredient market. Meat consumption, representing the consumption or consumption of animal flesh used as food, is on the rise. Algae-based animal feed and ingredients are emerging as a sustainable and nutritious protein source for animal feed, offering essential nutrients such as amino acids, vitamins, and minerals. These alternatives to traditional feed ingredients contribute to improved animal health and increased weight gain. In 2022, according to the Organization for Economic Co-operation and Development (OECD), the US witnessed an increase in meat consumption, rising from 10,177.30 thousand metric tons in 2020 to 10,191.61 thousand metric tons in 2021. Furthermore, global population growth is projected to support a 15% increase in worldwide meat consumption by 2031. Therefore, the upward trend in meat consumption is a significant driver behind the development of the algae-based animal feed and ingredient market.

The expanding livestock population is also expected to contribute significantly to the growth of the algae-based animal feed and ingredients market. The livestock population, representing the total number of domesticated animals raised by humans for various purposes, including agriculture, food production, and labor, is on the rise. The increasing livestock populations create a demand for sustainable and efficient feed solutions, making algae-based animal feed and ingredients an increasingly attractive option for the livestock industry. For instance, according to a 2022 report from the US Department of Agriculture, India's national herd of cattle increased from 1.2 million in 2021 to 306.7 million in 2022. This growth in livestock population underscores the demand for effective feed solutions, driving the growth of the algae-based animal feed and ingredient market.

Product innovation is a pivotal trend gaining momentum in the algae-based animal feed and ingredients market, with major companies actively developing inventive products to reinforce their market positions. In March 2021, Triton Algae Innovations Ltd., a US-based startup specializing in harnessing freshwater algae species, introduced its plant-based algae ingredients and debuted its first retail product, Plant-Based Tuna. Triton's innovative approach involves using Chlamydomonas reinhardtii, a single-celled algae species capable of producing plant proteins, in a scalable and cost-effective heterotrophic method. This undersea crop demonstrates the potential of alternative proteins and offers consumers an alternative protein ingredient with protein levels comparable to more well-known algae species such as chlorella and spirulina.

Major players in the algae-based animal feed and ingredients market are directing their efforts toward the development of algae-derived omega-3 products for animal feed, enhancing the nutritional value of meat in aquaculture and pet food. Omega-3 products derived from algae serve as a reliable and sustainable source of essential fatty acids (EPA and DHA), crucial for maintaining good health, including heart, eye, immune, and brain function. In April 2023, MiAlgae, a UK-based biotechnology company, launched the omega-3 product NaturAlgae, targeting the fish feed and pet food sectors. NaturAlgae, a dry powder with a high concentration of DHA and other oils, can be added to aqua feed and pet food formulations, contributing to enhanced nutritional profiles in animal diets.

In May 2023, Alltech Inc., a US-based company specializing in animal feed, meat, brewing, and distilling, collaborated with Agolin SA to develop eco-friendly nutrition solutions supporting cattle productivity and sustainability goals. This collaboration between Alltech and Agolin aims to assist farmers and ranchers in achieving sustainability objectives while improving the performance and profitability of cattle herds and supply chains. Agolin S.A., a Switzerland-based company, specializes in developing and manufacturing algae-based feed additives and animal nutritional solutions, aligning with the growing emphasis on sustainable and environmentally friendly practices in animal agriculture.

Major companies operating in the algae-based animal feed and ingredients market report are Alltech Inc., Cargill Inc., Corbion NV, Evonik Industries AG, Ajinomoto Co. Inc., Cellana Inc., BASF SE, Centafarm SRL, DuPont de Nemours Inc., Kemin Industries Inc., Koninklijke DSM NV, Novozymes A/S, Nutreco N.V., Técnica Ganadera S.L., Aliga Microalgae, Triton Algae Innovations Inc., Archer Daniels Midland Company, Algalita LLC, Erulia Limited, Green Plains Natural Gas LLC, Heineken N.V., InnovaFeed SAS, JBS S.A., Microalgae Technology Inc., Neptune Bioenergy Inc., Nova Algae Inc., OriginOil Inc., Pond Technologies Inc., Seaweeds for Aquaculture LLC, Solazyme Inc., TerraVia Inc., UniBio Inc.

North America was the largest region in the algae-based animal feed and ingredients market in 2023. The regions covered in the algae-based animal feed and ingredients market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The countries covered in the algae-based animal feed and ingredients market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

The primary types of algae-based animal feed and ingredients include both feed and feed ingredients. Animal feed encompasses any edible material that contributes nutrients, energy, or a complete diet for animals. These products are available through both offline and online channels and find applications in various feeding contexts such as poultry, swine, ruminants, and aquaculture.

The algae-based animal feed and ingredients market research report provides algae-based animal feed and ingredients market statistics, including algae-based animal feed and ingredients industry global market size, regional shares, competitors with an algae-based animal feed and ingredients market share, detailed algae-based animal feed and ingredients market segments, market trends and opportunities, and any further data you may need to thrive in the algae-based animal feed and ingredients industry. This algae-based animal feed and ingredient market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.

The algae-based animal feed and ingredients market consists of sales of ulva, porphyra, spirulina, gracilaria, chlorella, dunaliella, and tetraselmis. Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.


This product will be delivered within 3-5 business days.