Selenium Yeast Market Size
Given the global increasing incidence of chronic diseases, Selenium Yeast Market size valued at USD 235 million in 2022 is expected to have a CAGR of 2.5% between 2023 and 2032.
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Since it increases the activity of white blood cells fighting diseases and infections, seenium has become well-known as a main component in foods and drinks. Additionally linked to cancer prevention, cholesterol lowering, and disease management including Hashimoto's thyroiditis is selenium yeast ingestion. Data from the National Association of Chronic Disease Directors indicates that chronic illnesses account for more than two-thirds of American mortality. The increasing load of chronic diseases will thus inspire the use of nutrient-dense components in functional foods and beverages, including selenium yeast extract.
| Report Attribute | Details |
|---|---|
| Base Year | 2022 |
| Selenium Yeast Market Size in 2022 | USD 235 Million |
| Forecast Period | 2023 to 2032 |
| Forecast Period 2023 to 2032 CAGR | 2.9% |
| 2032 Value Projection | USD 315 Million |
| Historical Data for | 2018 to 2022 |
| No. of Pages | 160 |
| Tables, Charts & Figures | 182 |
| Segments covered | Application, Region |
| Growth Drivers |
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| Pitfalls & Challenges |
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What are the growth opportunities in this market?
Adoption of sodium selenite and other inorganic selenium can result in low utilization rates and environmental contamination. Rising as a vital raw resource for feed additives is yeast-derived selenium with high organic selenium concentration, bioavailability, and safety. Selenium yeast use will thus rise when high-protein animal feed and nutrition solutions are consumed more and more. The industry's growth may be hampered, nevertheless, by the scarcity of raw materials and the toxicity linked with consuming products above recommended limits.
Selenium Yeast Market Analysis
Given the growing import of cattle products, the sector of the selenium yeast market share from animal feed application is expected to see more than 2% CAGR through 2032. USDA figures show that overall imports of poultry, beef, pork, and other livestock products increased by 117% between 2001 and 2021 and are further predicted to increase by 2031. These elements, together with the growing consumption of chicken products, will drive the use of selenium yeast in feeds for poultry and other animals, therefore providing quality meat.
Learn more about the key segments shaping this market
The Asia Pacific selenium yeast market value will reach USD 120 million by 2032, driven by the rapid rise in funding programs to enhance livestock value chains. For instance, in December 2022, the Asian Development Bank announced a USD 62.9 million package to enhance food security and drive economic growth through the improvement of livestock health, value chains and formal livestock trade in Cambodia. Moreover, the growing burden of avian influenza and other livestock diseases will promote the adoption of quality animal feed additives and foster the regional industry trends.
Latin American selenium yeast market share is projected to register a 3% CAGR during the forecast timeline, due to the rise in poultry exports. Based on the USDA, in 2023, chicken meat export in Brazil is set to increase by 6% to reach 5 million metric tons, thus augmenting the requirement for animal feed ingredients including selenium yeast. Likewise, the increasing prevalence of chronic ailments such as cancer will influence the intake of functional foods and beverages with high selenium yeast content across the region.
Selenium Yeast Market Share
Prominent participants operating across the selenium yeast market include
- Angel Yeast
- Cypress Systems Inc.
- Biorigin
- Johncan Bio
- Miro Chembiotech
- Garuda
- Aleris
- Pharma Nord
- Selko
- ADM
- Novus
- Lallemand
- Lesaffre
- ABF
- Alltech
These companies are focusing on mergers and acquisitions, new product launches, and business expansions to strengthen their presence and increase their customer base in the industry.
For instance, in June 2020, Lesaffre acquired a major stake in Biohymn Biotechnology, a China-based producer of yeast and yeast extracts. This acquisition was intended to enable the company to boost its product portfolio and reinforce its footprint in China and the global market.
Impact of the COVID-19 pandemic
During the initial months of the COVID-19 pandemic, the poultry sector witnessed a downturn due to reports of the virus spreading through meat consumption. The implementation of lockdowns and other restrictions also limited the movement of vehicles carrying feed, livestock, and feed ingredients, hindering selenium yeast industry growth. However, the high awareness of the importance of livestock nutrition and the gradual increase in the consumption of meat products will contribute to the recovery of the market.
This selenium yeast market research report includes in-depth coverage of the industry with estimates & forecast in terms of volume in kilo tons and revenue in USD million from 2018 to 2032 for the following segments
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Market, By Application
- Functional Food
- Animal Feed
- Cattle
- Poultry
- Swine
- Equine
- Pet
- Others
The above information has been provided for the following regions and countries
- North America
- U.S.
- Canada
- Mexico
- Europe
- Germany
- UK
- France
- Italy
- Spain
- Russia
- Asia Pacific
- China
- India
- Japan
- South Korea
- Australia
- Malaysia
- Latin America
- Brazil
- Argentina
- Middle East & Africa
- Saudi Arabia
- UAE
- South Africa
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