At 6.1% CAGR, Asia Pacific Organic Selenium Yeast for Feed Market is Projected to be Worth US$ 2,576.45 Thousand by 2031, says Business Market Insights

According to Business Market Insights’ research, the Asia Pacific organic selenium yeast for feed market was valued at US$ 1,609.53 thousand in 2023 and is expected to reach US$ 2,576.45 thousand by 2031, registering a CAGR of 6.1%  from 2023 to 2031. Rising adoption of pet food fortified with organic selenium yeast and growth of animal feed industry are among the critical factors attributed to drive the Asia Pacific organic selenium yeast for feed market growth.

The rising livestock production and growing demand for meat and other animal-based goods drive the demand for animal feed. The Food Agriculture Organization (FAO) projects that animal protein production will increase by 1.7% (roughly) yearly. The International Feed Industry Federation's Annual Report 2020–2021 states that compound animal feed production surpassed one billion tons annually in 2020. Worldwide, the annual production of commercial animal feed is valued at over US$ 400 billion. Furthermore, global feed volume rose by 1% to about 1.2 billion tons. These stats show the significant growth of the animal feed industry. The increasing demand for meat-based and dairy products has significantly transformed industrial livestock production. Livestock products account for 16% of energy and 34% of the protein in human diets. Moreover, livestock production accounts for ~19% of the food production and 30% of the global agriculture outcome in terms of value. Changing food preferences and lifestyles, increasing urbanization, growing disposable income, and the rapidly rising world population contribute to the elevated demand for livestock. Thus, the growing livestock population globally boosts the growth of the animal feed industry.  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.

On the contrary, development of other effective sources of organic selenium hampers the growth of Asia Pacific organic selenium yeast for feed market.

By livestock, the Asia Pacific organic selenium yeast for feed market is segmented into poultry, ruminants, swine, aquaculture, pets, and others. The poultry segment held 39.7% share of Asia Pacific organic selenium yeast for feed market share in 2023, amassing US$ 639.36 thousand. It is projected to garner US$ 970.01 thousand by 2031 to register 5.3% CAGR during 2023–2031.

Based on country, the Asia Pacific organic selenium yeast for feed market is categorized into China, Japan, India, Australia, South Korea, and the Rest of Asia Pacific. Our regional analysis states that China captured 54.3% share of Asia Pacific organic selenium yeast for feed market in 2023. It was assessed at US$ 874.62 thousand in 2023 and is likely to hit US$ 1,375.31 thousand by 2031, registering a CAGR of 5.8% during 2023–2031.

Key players operating in the Asia Pacific organic selenium yeast for feed market are Adisseo; Alltech Inc; AngelYeast Co., Ltd.; Cargill, Incorporated; LALLEMAND, INC.; Phileo by Lesaffre; and Shanghai Debon Xinsheng Bio-Tech Co., Ltd. among others.

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