Animal Feed Yeast Industry - Regional Synopsis
APAC Market Statistics
The Asia Pacific animal feed yeast market, amongst the market in all the other regions, is projected to hold the largest market share by the end of 2037, backed by growing fish farming industry in this region, along with growth in production of poultry. Asia produces 88.7% of the world's aquaculture, making it the top producer in the world (82 million tons, excluding 32 million tons of aquatic plants). Moreover, 20.5 million individuals in the primary sector are employed by aquaculture, the majority of whom work in small businesses in Asia. Hence, the consumption of fish is growing in Asia Pacific. Further, the growing consumption can be also attributed to the growing urban population in this region, and the rising income of the people. This factor is also estimated to boost the poultry production, along with the growing meat packaging industries in this region are further anticipated to boost the growth of the market in the region. However, even in rural region the poultry production is estimated to boost significantly over the forecast period. The improvements in genetics, diet, disease prevention, and scientific management techniques are mainly responsible for this. Moreover, the government is encouraging people in rural areas to adopt animal feed yeast and educating them regarding the benefits of doing the same which is also estimated to boost the market growth.
North American Market Forecast
The North America animal feed yeast market, amongst the market in all the other regions, is projected to grow with the highest CAGR during the forecast period. The growth of the market in this region is estimated to grow on account of the existence of major market players along with the accessibility of well-equipped technologies Moreover, the demand for high and premium quality meat is growing among people, which is further estimated to boost the market’s growth. The significant health advantages of poultry over red meat are motivating poultry farmers to accelerate the rates of growth of poultry birds. The viability of poultry farms is increased by yeast, which is projected to further raise market revenues by increasing the growth rate and hunger of broiler chickens.
