Organic Selenium Yeast for Animal Feed Market
Asia Pacific is expected to register the highest CAGR in the organic selenium yeast for animal feed market during 2023–2031. Europe also held a significant share of the market in 2023. In Asia Pacific, China dominated the organic selenium yeast for animal feed market. China has a well-developed animal feed and livestock industry. According to the Alltech Global Feed Survey 2021 report, China ranked first in feed production worldwide. In recent years, due to the increasing awareness of animal’s health and their nutritional intake, there has been a growing demand for nutrient-enriched feed in the country. Deficiency of various nutrients among animals can lead to diseases. Selenium deficiency in cattle is associated with several problems, including muscular degenerative disease in calves, delayed conception, myocardial necrosis, heart failure, immune dysfunction, abortion, perinatal mortality, increased risk of mastitis, and growth retardation in young animals. Thus, to overcome such health issues, livestock owners prefer animal feed enriched with organic selenium yeast. Brands such as Angel Yeast in China are recognized as manufacturers of naturally sourced organic selenium yeast due to its high organic selenium content in the form of selenomethionine with high bioavailability form for improved nutrient utilization. These are the major factors driving the organic selenium yeast for animal feed market in the country.
In Europe, Spain held the largest market share in 2023. According to the European Feed Manufacturers’ Federation (FEFAC), in 2021, Spain ranked first in total compound feed production for farm animals in Europe, with 25.56 million metric tons of compound feed production as compared to 25.37 million metric tons in 2020. According to Alltech, Spain managed to rank seventh in the world compound feed production in 2022. Thus, increasing compound feed production in the country is boosting the demand for feed ingredients such as organic selenium yeast. Additionally, Spain has a high livestock population in Europe. According to Eurostat, Spain accounted for 24% of the EU’s pigs, 9% of the EU’s bovines, 25% of the EU’s sheep, and 23% of the EU’s goats. Thus, the growing livestock industry and increasing compound feed production in the country drive the demand for organic selenium yeast for animal feed. The manufacturers in Spain are expanding their business presence across the globe to cater to the increasing demand. In February 2022, Phileo Lessafre announced that it had invested in the construction of a new plant in Valladolid, Spain. The new manufacturing facility will cater to the growing demand for organic selenium from animal farm owners across Europe, Africa, and the Middle East. According to the company, further investments in 2023 will expand selenium production for oxidative stress management applications for animals. Such initiatives by key market players contribute to the market growth.
Rising Adoption of Pet Food Fortified with Organic Selenium Yeast to Boost Market Growth During Forecast Period
Selenium acts as an antioxidant inside the body of a pet. To ensure adequate selenium is available in pet food, it should be added in the selenium yeast form. Selenium yeast supports immunological response, cellular regeneration, and vital metabolism in pets. The blood can absorb selenium yeast, which is then stored in cells for use in stressful situations. Due to such benefits to pet health, manufacturers are fortifying pet food with organic selenium yeast. Additionally, many animal nutritionists and veterinary practitioners have been recommending using selenium-fortified pet food due to its mentioned benefits. Pet owners across the globe have been spending leniently on pet food, pet care, and other pet products to ensure their optimal health and fulfill the nutritional requirements of pets. There is a growing humanization of pets. Pet parents are concerned about the health and diet of their pets and are taking measures to keep their pets healthy. Thus, the adoption of pet food fortified with various nutrients, including organic selenium yeast, is expected to increase in the coming years, which will fuel the market growth.
Organic Selenium Yeast for Animal Feed Market: Segmental Overview
Based on livestock, the organic selenium yeast for animal feed market is segmented into poultry, ruminants, swine, aquaculture, pets, and others. The poultry segment held the largest market share in 2023, and the ruminants segment is expected to register the highest CAGR during the forecast period. Ruminants include cattle, sheep, goats, and buffaloes. A deficiency of selenium in ruminants can decrease productive and reproductive performance. Also, selenium deficiency in beef cattle can cause serious issues, including hoof health, disease, mastitis challenges, and respiratory issues. It has been observed that ruminants that consume animal feed enriched with organic selenium have a higher selenium content in the milk than ruminants that receive inorganic selenium from feed. The consumption of organic selenium in ruminants offers a few significant benefits such as supportive antioxidant status and normal reproductive function, enhanced meat quality and nutritional value, proper reproductive health, etc.
Organic Selenium Yeast for Animal Feed Market: Competitive Landscape and Key Developments
Alltech Inc, Cargill Incorporated, Lallemand Inc, AngelYeast Co Ltd, Adisseo, Cypress Systems Inc, ForagePlus Ltd, Misma, and Phileo by Lesaffre are among the prominent players profiled in the organic selenium yeast for animal feed market report. These market players focus on providing high-quality products to fulfill customer demand. They are also adopting strategies such as new product launches, capacity expansions, partnerships, and collaborations to maintain a competitive edge in the market. For insurance, in June 2023, Phileo by Lesaffre celebrated the opening of the new factory in Valladolid, Spain, for the production of Selsaf, the company’s nutritional solution enriched in organic selenium yeast to meet its growing demand in the country.
