As per FMI’s research, the Pet Food Microalgae Market is slated to reach USD 24 million by 2023. By the end of 2033, the market is pegged to achieve USD 38.3 million, meanwhile expanding at a CAGR of 5%.
Is the Launch of Plant-based (Vegan) Diets for Pets Pushing Growth?
Human diets containing little or no animal meat have grown in popularity over the last decade. As a result, an increase in pet owners are focusing on similar dietary requirements for their pets.
Plant-based and vegetarian diets have recently been introduced to the pet food market. Microalgae contain various essential nutrients and provide critical health benefits required for carnivore and omnivore pets.
How is the Rise of Older Animals Influencing Microalgae Use in Pet Food?
Pets are living longer lives than before, thanks to improved healthcare standards. Arthritis, cancer, cardiovascular disease, cataracts, and even hair thinning are all common in older animals. Supplementation is frequently chosen by pet owners to help maintain health and alleviate age-related aches and pains in their elderly companions.
The growth in senior pets contributes to an increase in the sale of pet supplements. High-quality whole-cell marine algae can be a viable substitute for raw omega-3 resources derived from ocean fish. Microalgae is a plentiful, highly sustainable source of the most sought-after omega-3 fatty acids that are not restricted by a natural resource.
High-quality algae are odor-and color-neutral, giving pet food manufacturers more leeway in product development. DHA gold S17-B, a dried whole-cell algae ingredient, is commercially available and contains nearly twice the concentration of DHA found in fish oil.
The price of this type of algae is also consistent because it is produced through fermentation, where demand has a much smaller impact on production costs. Consequently, the surge in senior animals bolsters sales prospects of microalgae-based pet food products.
The top 5 market players, including Koninklijke DSM NV, Fuji Chemical Industries Co., Ltd., Yunnan Green-A-Bio-engineering Co Ltd., Sun chlorella, and DIC Corporation, are expected to account for nearly 55 to 60% of the global market in 2023.
| Attributes | Details |
|---|---|
| Pet Food Microalgae Market CAGR (2023 to 2033) | 5% |
| Pet Food Microalgae Market CAGR (2018 to 2022) | 2.1% |
| Pet Food Microalgae Industry (2018) | USD 21.3 million |
| Pet Food Microalgae Market (2022) | USD 23.16 million |
| Pet Food Microalgae Market (2023) | USD 24 million |
| Pet Food Microalgae Market (2033) | USD 38.3 million |
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Microalgae are gradually finding application in pet food to increase palatability while meeting the requirements of natural ingredients in pet food formulations. Microalgae also have a higher shelf life and are available in powder and liquid forms, which makes it easy to incorporate in different products.
The market recorded a CAGR of 2.1% between 2018 and 2022. Forecasts for growth remain optimistic, with the market predicted to develop at a CAGR of 5% between 2023 and 2033.
Microalgae contain vitamins A, C, and E and Beta-carotene in large quantities, making them popular in pet food products. Microalgae are beneficial in bolstering appetite and immunity. Microalgae are also known for providing a natural defense system to pets and protecting them against harmful microorganisms. Microalgae also reduced the mortality rates of the pets.
| Country | The United States |
|---|---|
| Market Share % (2022) | 2.7% |
According to FMI, North America is a significant region in the global microalgae market, and it is also expected to witness a lucrative growth rate over the forecast period. According to a study, the United States is estimated to account for 90.0% of the North American market in 2023.
According to FMI’s analysis, the pet adoption rate in 2020 grew as pets entering shelters in the United States rose by more than 20% in 2020 as compared to 2019.
| Country | Germany |
|---|---|
| Market Share % (2022) | 5.7% |
The rising demand for microalgae-based pet food in Germany is expected to act as an essential growth driver. According to a recent report, the demand for microalgae in the pet food sector of Germany amounts to 5.7% of the overall market in 2022.
Germany is a prominent country in the European Union, according to the USDA. With more than 40% of German people having a pet and nearly 20% of households having more than one pet, growth prospects remain positive.
According to the FMI analysis, Germany is also a leading market for pet food products, with nearly 34 million pets and 83.0 million of the wealthiest consumers. The humanization of pets is a significant trend in the German microalgae market.
Brazil is one of the prominent emerging economies of the world. By 2033, the country is expected to account for more than 45% of the demand for microalgae in the pet food sector within Latin America.
There is a growing interest in natural and functional pet food in Brazil. As a result of this emphasis on specific ingredients such as microalgae and special diets, the average unit price has risen, particularly in the super-premium and premium segments. The increased demand for premium pet food ingredients in Brazil drives the growth of microalgae in the pet food sector.
| Country | China |
|---|---|
| Market Share % (2022) | 7.5% |
According to FMI’s analysis, China is estimated to account for more than 52% of the Asia Pacific market in the year 2023. In 2018, China ranked third in terms of dog ownership, with over 27 million dogs as pets.
Cats and birds were the following most popular types of pets, accounting for a sizable portion of revenue. Pet humanization, the growing trend of e-commerce, and the growing market for natural pet foods are some key factors driving the country's demand for microalgae in the pet food sector.
| Country | Australia |
|---|---|
| Market Share % (2022) | 2.9% |
Australia is another prominent country in the Asia Pacific market. In the Asia Pacific, Oceania accounted for 7.5% of the market share in 2022. Pets have traditionally played an essential role in Australia, and evolving time-constrained livelihoods are playing a key role in establishing the shift toward commercial and retail products.
The significance of the Australian market can be comprehended through emerging lifestyle choices and Western food and nutrition trends. The shift towards commercial and retail products bolsters the growth of the pet food microalgae market in Australia.
Principal Consultant
Spirulina microalgae are regarded as a vital source of micro- and macronutrients, including iron, high-quality protein, carotenoids, vitamins, and gamma-linolenic fatty acids. Intake of microalgae spirulina helps the pet to produce immunoglobulin A.
Nutritional properties of spirulina microalgae driving the growth of the global market in the pet food sector. Spirulina is estimated to account for more than 64% of market share in 2023.
| Segment | Fresh Water |
|---|---|
| Market Share % (2022) | 84% |
Freshwater microalgae are estimated to account for more than 84% of the market share in 2023. The segment is expected to witness a growth rate of of 4.8% over the forecast period.
| Segment | Dog Feed |
|---|---|
| Market Share % (2022) | 46% |
Dog feed applications of microalgae accounted for a maximum share of nearly 46% in 2022, which is also expected to witness a lucrative growth rate of 6.0% over the forecast period.
The manufacturers operating in the dog feed market drive the demand for microalgae-based food products owing to their nutritional properties.
Manufacturers in the global pet food microalgae market are focusing on developing innovative products to meet emerging demand from both emerging and established markets. After the FDA approved the use of Spirulina in food and beverage products, the demand for spirulina increased.
Key Players in the Pet Food Microalgae Market are:
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| Attribute | Details |
|---|---|
| Forecast Period | 2023 to 2033 |
| Historical Data Available for | 2018 to 2022 |
| Market Analysis | USD million for Value |
| Key Countries Covered | The United States, Canada, Germany, The United Kingdom, France, Italy, Spain, Russia, China, Japan, South Korea, India, Thailand, Malaysia, Indonesia, Australia, New Zealand, GCC Countries, Northern Africa, and South Africa |
| Key Segments Covered | Species Type, Source, End-use Application, and Region |
| Key Companies Profiled | DIC Corporation; Koninklijke DSM NV; Roquette Frères; Sun Chlorella; Cellana LLC; Fuji Chemical Industries Co., Ltd.; Corbion (TerraVia Holdings); Yunnan Green-A-Bio-engineering Co Ltd; Buggy power; Cyanotech Corporation; BASF SE; Parry Nutraceuticals; Beijing Gingko Group; KDI Ingredients; Algatec (Lusoamoreiras); Others |
| Report Coverage | Market Forecast, Company Share Analysis, Competition Intelligence, DROT Analysis, Market Dynamics and Challenges, and Strategic Growth Initiatives |
| Customization & Pricing | Available upon Request |
From 2018 to 2022, the global market exhibited a 2.1% CAGR.
The market is forecast to register a CAGR of 5% through 2033.
The market is being driven by the plant-based diets being introduced for pets.
Germany's market expands at a CAGR of 5.7% from 2023 to 2033.
China dominates the global pet food microalgae market.
1. Executive Summary 2. Market Overview 3. Market Background 4. Global Market Analysis 2018 to 2022 and Forecast, 2023 to 2033 5. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Species Type 5.1. Spirulina 5.2. Chlorella 5.3. Dunaliella 5.4. Haematococcus 5.5. Crypthecodinium 5.6. Schizochytrium 5.7. Euglena 5.8. Nannochloropsis 5.9. Phaedactylum 5.10. Others 6. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Source 6.1. Marine Water 6.2. Fresh Water 7. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By End Use Application 7.1. Dog Feed 7.2. Cat Feed 7.3. Birds 7.4. Others 8. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Region 8.1. North America 8.2. Latin America 8.3. Europe 8.4. Asia Pacific 8.5. MEA 9. North America Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 10. Latin America Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 11. Europe Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 12. Asia Pacific Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 13. MEA Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 14. Key Countries Market Analysis 15. Market Structure Analysis 16. Competition Analysis 16.1. DIC Corporation 16.2. Koninkliijke DSM NV 16.3. Roquette Frères 16.4. Sun Chlorella 16.5. Cellana LLC 16.6. Fuji Chemical Industries Co., Ltd. 16.7. Corbion (TerraVia Holdings) 16.8. Yunnan Green-A-Bio-engineering Co Ltd 16.9. Buggypower 16.10. Cyanotech Corporation 16.11. BASF SE 16.12. Parry Nutraceuticals 16.13. Beijing Gingko Group 16.14. KDI Ingredients 17. Assumptions & Acronyms Used 18. Research Methodology
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Pet Food Microalgae Market
