Market Trends of North America Feed Yeast Industry
This section covers the major market trends shaping the North America Feed Yeast Market according to our research experts:
Increased Compound Feed Production
According to the Alltech feed survey in the year 2019, the United States accounted for being the highest producer of compound feed accounting for 214 million metric tons while Mexico accounted for 36.2 million metric tons and Canada for 21.6 million metric tons. The addition of yeast to feed is one of the ways to improve the gut health of the animal and aid in increased feed conversion ratio, resulting in a positive impact on the meat yield. While live yeast is mostly used in home-based feed, produced from corn and soybean, other forms of yeast are popular in compound feed. There has also been increased awareness among farmers about providing optimum nutrition to farm animals. This has led to an increased usage of feed additives such as yeast for improving the productivity and health of animals. It is also seen that the majority of the feed consumption is by the poultry segment in the region. The addition of yeast to poultry feed is one of the ways to improve the gut health of the animal and aid in increased feed conversion ratio, resulting in a positive impact on the meat yield. A combination of yeast and probiotics has been observed to have a maximum impact on the weight gain and productivity of broilers. Hence the increased production of feed in the region constitutes a positive push towards the demand for feed yeast during the forecast period.
Increased Meat and Meat Products Consumption
The rise in population, increase in disposable incomes and rapid growth of urbanization in North America has spurred the growth of animal protein food. The demand for high-quality meat and milk has led to increased consumption of compound feed in the region. Apart from feed amino acids, enzymes, prebiotics, and others, feed yeast is also on-demand, due to its functional properties such as balancing pH and enhancing fiber digestion. Due to the rise in the high demand for animal meat, American farmers are adopting various techniques in the production of livestock such as shifting towards shorter-cycle species (pig and poultry), accelerating production cycles, and increasing livestock numbers. Apart from poultry and cattle, aquaculture is also growing as a rich source of proteins. Increasing awareness of consumers on animal protein is driving the feed yeast market. The rising demand for animal meat and dairy products is expected to boost the production of compound feed in the region, thereby acting as a catalyst for the feed yeast market during the forecast period.
