Sample_Animal Feed Microbial Protein Market 2032

Animal Feed Microbial Protein Market
Report
Global Animal Feed Microbial Protein Market Size By Source (Bacteria, Yeast, Algae,
Fungi), By Livestock (Poultry (Broiler, Layers, Breeder) Ruminants, Swine, Aquaculture),
By Fermentation Technology (Solid State, Submerged, Co-Culture), By Form (Dry Powder,
Liquid, Pellets)– Global Forecast, 2023 - 2032
Animal Feed Microbial Protein Market Report, 2032
About GMI
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corporations, non-profits, universities, and government agencies. Our goal is to partner with organizations to make
sustained strategic improvements and meet growth goals.
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to accelerate and enhance our clients' strategies.
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About the Report

Animal Feed Microbial Protein Market
A USD 319 Million Market Opportunity by 2032, Growing at a CAGR of 8.2%
x%
x% Market Share (2022)
x% x%
x% CAGR (2023-2032)
x%
x%
x%
x%
x%
The market report offers a detailed analysis about the market growth, market insights, current trends, opportunities,
and challenges in the rapidly evolving landscape. This report serves as a valuable resource for businesses,
organization, associations, government, industry professionals, and decision-makers seeking to gain a deeper
understanding of the market dynamics and leverage key insights to drive strategic growth.
The report answers the following questions:
• Market Size and Growth: The study provides an accurate assessment of the current market size and future
growth potential. These granular insights can be resourceful to identify new potential markets, revise
investment strategies, align resources among others.
• Competitive Landscape: The study provides a thorough analysis of the competitive landscape. Our study
includes detailed profiles of major companies, their market share, SWOT analysis, product offerings, and
strategic initiatives. This exhaustive landscape will help you to glean insights to inform your business
strategies.
• Industry Trends, Opportunities and Risk Assessment: The report discusses the latest trends shaping the
industry. Our research explores various business trends, emerging technologies and trends, market driving
forces, and their impact on the market. The report also assesses the attractiveness of the industry using
Porter’s Five forces, and pinpoint areas where you can adjust your strategy to improve profitability.
• Impact Analysis: Various scenarios were studied, and the most likely model is devised to measure the
impact of COVID-19 pandemic and Russia-Ukraine war.
• Geographical Analysis: The report provides insights into various dynamics and growth opportunities of
various segments and sub-segments at the global, regional and country level.

Report Content
Chapter 1. Methodology & Scope
1.1. Market scope & definitions
1.2. Base estimations & working
1.3. Forecast calculation
1.4. Data Sources
1.4.1. Primary
1.4.2. Data mining sources
1.4.2.1. Paid Sources
1.4.2.2. Public Sources
Chapter 2. Executive Summary
2.1. Global Animal Feed Microbial Protein industry 360º synopsis, 2018 - 2032
2.1.1. Business trends
2.1.2. Regional trends
2.1.3. Source Trends
2.1.4. Livestock Trends
2.1.5. Fermentation technology Trends
2.1.6. Form trends
Chapter 3. Household Food Storage Industry Insights
3.1. Industry ecosystem analysis
3.1.1. Raw material suppliers
3.1.2. Manufacturers
3.1.3. Profit margin analysis
3.1.4. Distribution channel analysis
3.1.5. End-users
3.1.6. Vendor matrix
3.1.6.1. List of key raw material suppliers
3.1.6.2. List of key manufacturers/suppliers
3.1.6.3. Lits of key/potential customers
3.2. Technology landscape
3.3. Regulatory landscape
3.3.1. North America
3.3.2. Europe
3.3.3. Asia Pacific
3.3.4. Latin America
3.3.5. Middle East & Africa
3.4. Industry impact forces
3.4.1. Growth drivers
3.4.1.1. Increasing demand for animal protein
3.4.1.2. Growing awareness about animal health
3.4.1.3. Environmental sustainability

3.4.2. Industry pitfalls & challenges

3.4.2.1. Price competition
3.5. Pricing analysis
3.5.1. Regional pricing
3.5.1.1. North America
3.5.1.2. Europe
3.5.1.3. Asia Pacific
3.5.1.4. Latin America
3.5.1.5. Middle East & Africa
3.5.2. Cost structure analysis
3.5.2.1. R&D cost
3.5.2.2. Manufacturing & equipment cost
3.5.2.3. Raw material cost
3.5.2.4. Distribution cost
3.5.2.5. Operating cost
3.5.2.6. Miscellaneous cost
3.6. Innovation & sustainability
3.6.1. Patent analysis
3.7. Growth potential analysis
3.8. Porter's analysis
3.9. PESTEL analysis
Chapter 4. Competitive Landscape, 2022
4.1. Introduction
4.2. Company market share, 2022
4.2.1. Company market share, by region, 2022
4.2.1.1. North America
4.2.1.2. Europe
4.2.1.3. Asia Pacific
4.2.1.4. Latin America
4.2.1.5. Middle East & Africa
4.3. Competitive analysis of market player
4.4. Competitive positioning matrix
4.5. Strategic outlook matrix
Chapter 5. Global Animal Feed Microbial Protein Market, By Source, (Kilo Tons) (USD Million)
5.1. Key source trends
5.2. Bacteria
5.3. Yeast
5.4. Algae
5.5. Fungi
5.6. Others
Chapter 6. Global Animal Feed Microbial Protein Market, By Livestock, (Kilo Tons) (USD Million)
6.1. Key livestock trends

6.2. Poultry
6.2.1. Broilers
6.2.2. Layers
6.2.3. Breeders
6.2.4. Others
6.3. Ruminants
6.4. Swine
6.5. Aquaculture
6.6. Others
Chapter 7. Global Animal Feed Microbial Protein Market, By Fermentation Technology, (Kilo Tons) (USD
Million)
7.1. Key fermentation technology trends
7.2. Solid-state fermentation
7.3. Submerged fermentation
7.4. Co-culture fermentation
Chapter 8. Global Animal Feed Microbial Protein Market, By Form, (Kilo Tons) (USD Million)
8.1. Key form trends
8.2. Dry Powder
8.3. Liquid
8.4. Pellets
Chapter 9. Global Animal Feed Microbial Protein Market, By Region, (Kilo Tons) (USD Million)
9.1. Key regional trends
9.2. North America
9.2.1. U.S.
9.2.2. Canada
9.3. Europe
9.3.1. Germany
9.3.2. UK
9.3.3. France
9.3.4. Italy
9.3.5. Russia
9.3.6. Rest of Europe
9.4. Asia Pacific
9.4.1. China
9.4.2. India
9.4.3. Japan
9.4.4. South Korea
9.4.5. Australia
9.4.6. Rest of Asia Pacific
9.5. LATAM
9.5.1. Brazil
9.5.2. Mexico

9.5.3. Rest of LATAM

9.6. Middle East & Africa (MEA)
9.6.1. Saudi Arabia
9.6.2. South Africa
9.6.3. UAE
9.6.4. Rest of MEA
Chapter 10. Company Profiles
10.1. AG chemi group
10.2. Alltech
10.3. Arbiom
10.4. Arbiom
10.5. Avecom
10.6. Biomin Holdings Gmbh
10.7. Calysta Inc
10.8. Devenish Nutrition Limited
10.9. IPK Gatersleben
10.10. KnipBio
10.11. Lonza Group
10.12. Nutreco N.V.
10.13. Quality Liquid feeds
10.14. Quorn Foods
The above list of companies is arranged in alphabetical order

Chapter 1 Research Methodology
1.1 Research design
Global Market Insights has followed a rigorous and comprehensive research methodology to calculate the statistical
data points present in this report. An exclusive research design was devised for this study which includes data
collection techniques, top-down and bottom-up approach, forecast model, and validation process.
FIG. 1 Research design
Research Objectives Research Brief

As an initial step, the process begins with defining clear research objectives,
which provide specific goals and desired outcomes for the study and serve
as a guiding framework for data collection and analysis process.
Research Approach
Create a detailed plan outlining the research methodology, data
collection techniques, and timeline. Determine the appropriate research
design (e.g., exploratory, descriptive, causal) based on the objectives.
Data Collection
Select appropriate data collection methods for gathering information. This
• Coverage: Global
includes a mix of primary research (surveys, interviews, focus groups) and
• Base Year: 2022 | Historical Years: 2018-2021
secondary research (literature review, industry reports, annual reports).
• Forecast Years: 2023-2032
• Currency Used: U.S. Dollar (USD)
Data Analysis and Interpretation
The data analysis process involves examining collected data to identify Assumptions:
trends, patterns, and insights, which are then interpreted and used to • Market conditions and factors influencing the
draw conclusions and make actionable recommendations for businesses. market remain relatively stable during the
research period, without significant disruptions
Data Validation and Quality Check or changes.
Data validation is done using an iterative feedback mechanism. This involves
a continuous process of reviewing and refining collected data, ensuring its Limitations:
accuracy and quality through iterative cycles of feedback and improvement. • For private companies, third-party paid
databases were used to gather their financial
information
Report Writing
The report writing stage involves synthesizing findings, incorporating • Strategic Developments not released by
data, adding graphics, and editing for a clear and visually appealing companies in public domain have not been
presentation of research outcomes. included in the report

1.2 Data collection techniques
For our market research study, we employed a combination of primary and data mining collection techniques.
Primary data collection involved surveys, interviews, and observations to gather new and original data directly. Data
mining collection involved sourcing credible information from industry reports, government publications, non-profit
organizations, association, academic research papers, paid databases, magazines among others. These sources
supplemented our primary research findings, providing valuable background information, market trends, and
statistical data. By utilizing both primary and data mining techniques, the report ensures a comprehensive analysis,
delivering reliable insights for informed decision-making.
FIG. 2 Data collection techniques
~ 85% Primary Research ~ 15% Data Mining

In-Depth Primary Interviews Paid Databases
In-depth primary interviews are conducted Reliable paid databases are used to
across the value chain to gain meaningful gather company information.
insights about the market
- Bloomberg
- CXOs, VP, Directors, Managers, etc - Factiva
- Industry Experts and KOLs - Dun & Bradstreet (D&B) Hoovers
- Subject Matter Experts - Thomson Reuters Eikon
- Members of Associations, Non-profit - Other Prominent Databases
Organizations, Consortium, etc
Literature Research
Survey/Polls Various secondary literatures are studied and
Surveys are conducted to gain valuable analyzed to gather relevant information.
Data Collection
insights into the preferences, behaviors,
and needs of customers, identify market Methods - Annual Reports
opportunities, and inform marketing - Company Websites
strategies and decision-making processes. - Research Papers
- Industry Reports
- Whitepapers
- Articles, Magazines, etc
Focus Group Discussion Case-study Research

FGDs are conducted to gather insights, Detailed case study research is conducted to
opinions, and perceptions the market by gain a rich understanding of the complexities
encouraging open and interactive and dynamics of the various challenges and
discussions among participants. what best practices being followed.

FIG. 3 Primary research process
Survey Design Survey

Structured survey questionnaire was designed in-line with After finalization of questionnaire, field survey was conducted
research objectives with clear, concise and unbiased manner. with the target audience. Various interview techniques such as
This questionnaire was then shared with industry experts for CATI, CAWI, CAPI were used based on survey requirement to
review and validation, and modification were made. gather the firsthand information about the market.
Sample Evaluation Data Sanitation and Tabulation

Sample size was calculated considering various factors, Data sanitation involves cleaning, validating, and handling missing
including the research objectives, research design, population data in a survey. It ensures the quality and reliability of the data by
characteristics, statistical considerations, and practical correcting errors and inconsistencies. In the tabulation process,
constraints. data is entered and coded, and transformed/restructured.
Recruitment Data Analysis

Based on the screening criteria, desired number of participants Statistical analysis techniques were applied to generate meaningful
were recruited for your survey. This step involves contacting insights. This involves descriptive statistics, cross-tabulations,
potential respondents through various channels such as email regression analysis, or other statistical methods, depending on the
invitations, online panels, social media, or in-person recruitment. research objectives and the nature of the data.
Pilot Survey Report Findings

Before administering the actual survey to the target audience, a Survey findings were presented in a clear and organized manner,
pilot test with a small sample of respondents was conducted. This using charts, graphs, and tables to visualize the data. Key
helps identify any issues with question wording, response options, insights, trends, conclusions and analyst recommendation along
or survey flow. Necessary corrections were done accordingly. with implications were provided based on analyzed data.
1.3 Market size estimation
In order to determine the market size for our research study, we employed both top-down and bottom-up approach
that allowed for a comprehensive and accurate estimation. Firstly, we employed the bottom-up approach, where we
collected data from individual companies and market participants to estimate their market share and then
aggregated the data to arrive at the total market size. This approach involved conducting surveys, interviews, and
analyzing financial reports to gather detailed information on company revenues and market share.
Additionally, we utilized the top-down approach, which involves analyzing industry-level data and market indicators
to derive the overall market size. This approach included examining relevant reports, industry databases, and
government publications to gather data on the total revenue generated by the market players and key industry
segments. By combining these techniques, we ensured a robust and reliable calculation of the market size, providing
our client with a comprehensive understanding of the market's magnitude and potential.

FIG. 4 Market sizing approach
1.4 Forecasting model
Forecasting statistical model was designed using multiple forecasting techniques coupled with weightages. This
forecast model is applied to each segment and sub-segment at country level. For each country level markets, key
industry impact forces were analyzed and assigned weights in order of their importance. These weights were
distributed across the forecast period and a country growth rate was derived. Some of the major parameters include:
o Historical market performance
o Macro and Micro-economic performance
o Market dynamics
o Regulatory framework
o Adoption trends
o Technological advancements
o Infrastructure development
o Raw material trends
The impact of various competitive strategic developments such as merger & acquisition, partnership, collaborations,
new product launches, new innovation, etc. were also considered while forecasting the market size.

FIG. 5 Forecasting model

Chapter 2 Executive Summary
2.1 Global Animal Feed Microbial Protein industry 3600 synopsis, 2022
FIG. 6 Animal Feed Microbial Protein industry 3600 synopsis, 2022
2.2 Business trends
• Sustainability emerged as a prominent business trend in the Animal Feed Microbial Protein Market.
Companies sought to develop and market sustainable feed additives, including microbial proteins, to align
with consumer preferences for environmentally friendly and ethical products. Sustainability certifications
and transparent sourcing practices gained importance as consumers and stakeholders demanded
responsible and eco-friendly solutions in animal feed.
TABLE 1 Global Animal Feed Microbial Protein market, 2018 - 2022 (Kilo Tons) (USD Million)
2018 2019 2020 2021 2022
Kilo Tons 211.80 225.15 237.75 234.74 xx
USD Million 100.8 115.7 140.0 143.2 xx

TABLE 2 Global Animal Feed Microbial Protein market, 2023 – 2032 (Kilo Tons) (USD Million)
CAGR
2023 2024 2025 2026 2027 2028 2028 2029 2030 2031 2032 (2023-
32)
Kilo
xx xx xx xx xx xx xx xx xx xx xx xx%
Tons
USD
Million
2.3 Regional trends
• In Europe, there was a strong focus on reducing the use of antibiotics in animal feed. This led to the increased
utilization of microbial proteins as natural alternatives to antibiotics, with probiotics and yeast-based
products being widely employed. The European Union's regulatory environment favored the use of
sustainable and eco-friendly feed additives. Microbial proteins, especially algae-based products, received
attention for their potential to meet regulatory requirements while offering nutritional benefits to livestock.
TABLE 3 Global Animal Feed Microbial Protein market, by region, 2018 - 2022 (Kilo Tons)
Region 2018 2019 2020 2021 2022
North America 69.15 72.74 76.01 74.24 xx
Europe 58.46 62.05 65.43 64.51 xx
Asia Pacific 47.40 50.60 54.07 54.21 xx
MEA 24.04 25.45 26.76 26.32 xx
LATAM 12.75 14.31 15.47 15.46 xx
Total 211.80 225.15 237.75 234.74 xx
TABLE 4 Global Animal Feed Microbial Protein market, by region, 2023 – 2032 (Kilo Tons)
CAGR
Region 2023 2024 2025 2026 2027 2028 2028 2029 2030 2031 2032 (2023-
32)
North
America
Europe xx xx xx xx xx xx xx xx xx xx xx xx%

Asia
Pacific
MEA xx xx xx xx xx xx xx xx xx xx xx xx%
LATAM xx xx xx xx xx xx xx xx xx xx xx xx%
Total xx xx xx xx xx xx xx xx xx xx xx xx%
TABLE 5 Global Animal Feed Microbial Protein market, by region, 2018 - 2022 (USD Million)
Region 2018 2019 2020 2021 2022
North America 32.92 37.39 44.77 45.29 xx
Europe 27.83 31.90 38.54 39.35 xx
Asia Pacific 22.28 25.89 31.71 32.81 xx
MEA 11.44 13.08 15.76 16.05 xx
LATAM 6.35 7.47 9.25 9.68 xx
Total 100.8 115.7 140.0 143.2 xx
TABLE 6 Global Animal Feed Microbial Protein market, by region, 2023 – 2032 (USD Million)
CAGR
Region 2023 2024 2025 2026 2027 2028 2028 2029 2030 2031 2032 (2023-
32)
North
America
Europe xx xx xx xx xx xx xx xx xx xx xx xx%
Asia
Pacific
MEA xx xx xx xx xx xx xx xx xx xx xx xx%
LATAM xx xx xx xx xx xx xx xx xx xx xx xx%
Total xx xx xx xx xx xx xx xx xx xx xx xx%

2.4 Source Trends
• Probiotic bacteria gained prominence in the market, particularly specialized strains with proven benefits for
animal health and performance. Producers sought bacteria sources that could enhance gut health, improve
nutrient absorption, and boost immune function in livestock and poultry. Certain probiotic bacteria, such as
Lactobacillus and Bifidobacterium species, were increasingly used for their potential to support gut
microbiota balance and promote animal well-being.
TABLE 7 Global Animal Feed Microbial Protein market, by source, 2018 - 2022 (Kilo Tons)
Source 2018 2019 2020 2021 2022
Bacteria 121.15 128.91 136.26 134.68 xx
Yeast 54.43 58.14 61.68 61.18 xx
Algae 14.83 15.81 16.74 16.58 xx
Fungi 10.38 10.98 11.55 11.35 xx
Others 11.01 11.31 11.51 10.95 xx
Total 211.80 225.15 237.75 234.74 xx
TABLE 8 Global Animal Feed Microbial Protein market, by source, 2018 - 2022 (USD Million)
Source 2018 2019 2020 2021 2022
Bacteria 57.67 66.26 80.26 82.15 xx
Yeast 25.91 29.88 36.33 37.32 xx
Algae 7.06 8.13 9.86 10.12 xx
Fungi 4.94 5.65 6.80 6.92 xx
Others 5.24 5.81 6.78 6.68 xx
Total 100.82 115.73 140.03 143.19 xx

2.5 Livestock Trends
• Ruminant livestock producers increasingly recognized the critical role of rumen health and function in
animal performance and efficiency. Microbial proteins, particularly certain probiotic strains and feed
additives derived from beneficial microorganisms, gained traction for their ability to support a balanced
rumen microbiota. These products aimed to improve fiber digestion, enhance volatile fatty acid production,
and optimize nutrient utilization in the rumen, ultimately leading to better feed efficiency and animal
growth.
TABLE 9 Global Animal Feed Microbial Protein market, by livestock, 2018 - 2022 (Kilo Tons)
Livestock 2018 2019 2020 2021 2022
Poultry 122.42 130.24 137.65 136.03 xx
Broilers 69.28 73.60 77.68 76.66 xx
Layers 28.60 30.46 32.23 31.88 xx
Breeders 15.44 16.47 17.46 17.31 xx
Others 9.10 9.70 10.27 10.17 xx
Ruminants 29.44 31.34 33.15 32.78 xx
Swine 40.29 42.82 45.21 44.64 xx
Aquaculture 10.80 11.56 12.30 12.22 xx
Others 8.86 9.18 9.44 9.08 xx
Total 211.80 225.15 237.75 234.74 xx
TABLE 10 Global Animal Feed Microbial Protein market, by livestock, 2018 - 2022 (USD Million)
Livestock 2018 2019 2020 2021 2022
Poultry 58.27 66.94 81.07 82.98 xx
Broilers 32.98 37.83 45.76 46.76 xx
Layers 13.61 15.66 18.98 19.45 xx
Breeders 7.35 8.47 10.29 10.56 xx
Others 4.33 4.99 6.05 6.20 xx
Ruminants 14.01 16.11 19.52 20.00 xx
Swine 19.18 22.01 26.63 27.23 xx

Aquaculture 5.14 5.94 7.24 7.46 xx
Others 4.22 4.72 5.56 5.54 xx
Total 100.82 115.73 140.03 143.19 xx
2.6 Fermentation Technology Trends
• Submerged fermentation saw continuous advancements in bioreactor design and technology, facilitating
controlled and efficient fermentation processes. Improvements in aeration, agitation, and monitoring
systems allowed for better regulation of fermentation conditions, resulting in higher yields and improved
product consistency. Submerged fermentation offered a platform for genetic engineering to develop
enhanced microbial strains capable of producing specific proteins or functional additives with targeted
functionalities. Engineered strains with improved traits were explored for their potential to meet specific
nutritional requirements in animal feed.
TABLE 11 Global Animal Feed Microbial Protein market, by fermentation technology, 2018 - 2022 (Kilo Tons)
Fermentation
2018 2019 2020 2021 2022
Technology
Solid-state
98.49 105.02 111.23 110.16 xx
fermentation
Submerged
41.73 44.00 46.09 45.14 xx
fermentation
Co-culture
71.59 76.13 80.43 79.44 xx
fermentation
Total 211.80 225.15 237.75 234.74 xx
TABLE 12 Global Animal Feed Microbial Protein market, by fermentation technology, 2018 - 2022 (USD
Million)
Fermentation
2018 2019 2020 2021 2022
Technology
Solid-state
46.88 53.98 65.52 67.20 xx
fermentation
Submerged
19.86 22.62 27.15 27.53 xx
fermentation
Co-culture
34.08 39.13 47.37 48.46 xx
fermentation
Total 100.82 115.73 140.03 143.19 xx

2.7 Form Trends
• The dry powder form of microbial proteins witnessed a notable surge in demand within the market. This
trend can be attributed to the advantages offered by dry powder formulations, including ease of handling,
convenient storage, and accurate dosing. The powdered form allowed for better integration into various
feed formulations, ensuring uniform distribution of microbial proteins throughout the feed. Moreover, dry
powder proteins were preferred by feed manufacturers as they offered flexibility in formulating animal diets
tailored to specific nutritional requirements and production stages. Advances in drying technologies, such
as spray drying and freeze drying, have further improved the stability and shelf life of dry powder microbial
proteins, making them a popular choice for feed producers aiming to optimize animal nutrition.
TABLE 13 Global Animal Feed Microbial Protein market, by form, 2018 - 2022 (Kilo Tons)
Form 2018 2019 2020 2021 2022
Dry Powder 109.29 116.50 123.36 122.13 xx
Liquid 68.31 72.77 77.02 76.21 xx
Pellets 34.21 35.88 37.38 36.40 xx
Total 211.80 225.15 237.75 234.74 xx
TABLE 14 Global Animal Feed Microbial Protein market, by form, 2018 - 2022 (USD Million)
Form 2018 2019 2020 2021 2022
Dry Powder 52.02 59.88 72.66 74.50 xx
Liquid 32.51 37.41 45.36 46.49 xx
Pellets 16.28 18.44 22.01 22.20 xx
Total 100.82 115.73 140.03 143.19 xx

Chapter 3 Industry Insights
FIG. 7 Industry ecosystem analysis
Partnerships
Supplier Manufacturer Stakeholder 3 End users
Stakeholder 4
FIG. 8 Growth potential analysis

High
Growth potential
Moderate
Low
Segment 1 Segment 2 Segment 3 Segment 4
Low Moderate High
Ability to capture

3.1 Industry impact forces
Growth driver Short term Medium term Long term

Increasing demand for animal protein
Growing awareness about animal health
Environmental sustainability
Industry pitfall Short term Medium term Long term
Price competition
3.1.1 Growt h drivers
Increasing demand for animal protein
FIG. 9 Estimated animal protein consumption worldwide in 2022, by source(Million Metric Tons)
Atlantic Salmon (GWT)*
Beef (cwe)
Prok (cwe)
Poultry (rtc)
Fish (GWT)*
0 20 40 60 80 100 120 140 160 180
Note: The above chart is representational
The world's population is steadily increasing, driving up the demand for food, including animal-based protein
sources. As more people enter the middle class and experience higher incomes, their dietary preferences shift
towards a diet that includes more animal protein. Urbanization and changing lifestyles have led to shifts in dietary
patterns, with a greater emphasis on animal-based protein consumption. Urban dwellers often have higher

purchasing power and access to a wider variety of foods, including animal-based products. Animal protein is
considered a valuable source of essential amino acids, vitamins, and minerals necessary for human health and
growth. As consumers become more health-conscious and seek balanced diets, the demand for animal protein with
its nutritional benefits rises.
Emerging economies, particularly in Asia and Latin America, are witnessing a significant rise in the middle-class
population. These consumers are more likely to include animal protein in their diets as their incomes increase,
contributing to the overall demand.

Chapter 4 Competitive Landscape, 2022
4.1 Introduction
4.2 Company market share analysis
FIG. 10 Company market share, 2022
AG Chemie Group Alltech Calysta Inc. KnipBio Other
Note: The above chart is representational
4.3 Competitive analysis, 2022
FIG. 11 Competitive analysis of major market players, 2022
Product Capability
9
8
7
Geographical Presence 6 Product Innovation
5
4
Collaboration &
Product Differentiation
Partnerships
Source: Global Market Insights, Paid Databases, Primary Research

4.3.1 C hart key
• Product innovation: Indicates the ability of a vendor to consistently launch innovative products/services
that are regularly updated and offer customers with novel & cutting-edge technologies. A higher score
indicates better performance.
• Product differentiation: The design and delivery of a service to have unique & valuable characteristics as
compared to other services in the market.
• Partnerships/Collaborations: Provide a gauge for vendor strategic alliances based on partnerships with
the leading industry giants, distributor networks, and technology partners. A higher score indicates better
performance.
• Product capability: Measures the performance and inherent features of a vendor’s offerings based on the
ease of use, functionalities, and enterprise value addition. A higher score indicates better performance.
• Geographic presence: Geographic presence measures the availability of the company’s products & services
across various regions.
TABLE 15 Competitive analysis of major market players
Factor Company A Company B Company C Company D Company E
Product Capability x x x x x
Product Innovation x x x x x
Product Differentiation x x x x x
Collaborations & Partnerships x x x x x
Geographical Presence x x x x x

4.4 Competitive positioning matrix
FIG. 12 Competitive positioning matrix
PROMISING LEADERS
•x
•x
PROMISING KEY
LEADERS PLAYERS KEY PLAYERS
•x
•x
NICHE LEADERS
•x
•x
NICHE DISRUPTORS
LEADERS DISRUPTORS
•x
•x
The competitive positioning quadrant includes vendors offering diverse products, solutions, or services existing in
the market. The companies or vendors are segregated based on services and applications, or their Unique Selling
Points (USPs). Thus, the quadrant model has four categories: promising leaders, key players, niche leaders, and
disruptors.
Given below are the classification criteria for categorizing the companies identified into the four quadrants.
TABLE 16 Competitive positioning matrix: Classification criteria
These companies rank at the top in the market. They offer their products or services to a broad
customer base and are actively involved in the market. Together, these companies account for a
majority of the overall market share.
Key Players Key attributes:
• Large market revenue

• Strong brand presence
• Broad customer base
These are similar to the key players but may need more technological advancements to offer
Promising Leaders their products/solutions to a broader customer base. They typically offer differentiated products
to expand their market share.

Key attributes:
• Differentiated offerings
• Notable market share
• R&D investments
These companies actively focus on one product or brand and aim to create their
space/positioning within a segment.
Niche Leaders Key attributes:
• Specialized in offering one particular service/product

• Continued product/market development initiatives within their focus areas
These companies strive to create a market value. They generate new growth opportunities by
launching innovative products for market disruption.
Disruptors Key attributes:
• Strong focus on innovations

• Concentrated effort to secure investments
4.5 Strategic outlook matrix
FIG. 13 Strategic outlook matrix
MARKET PENETRATION PRODUCT DEVELOPMENT

EXISTING MARKET
x Ø x
x Ø x
Risk
MARKET DEVELOPMENT DIVERSIFICATION
NEW MARKET
x Ø x
x Ø x
EXISTING PRODUCTS NEW PRODUCTS
Risk

Chapter 5 Global Animal Feed Microbial Protein Market, By Source
5.1 Key source trends
• Lactic acid bacteria, such as Lactobacillus and Bifidobacterium species, were among the most commonly
used bacteria sources for microbial protein production. These beneficial bacteria have probiotic properties
and are known to support gut health in animals, leading to increased demand for microbial proteins derived
from LAB for use in animal feed.
5.2 Bacteria
5.2.1 Anim al Feed Mic robial Protein m arket estim ates and forec ast, B y B acteria, 2018 -
2032
TABLE 17 Animal Feed Microbial Protein market estimates and forecast, 2018 - 2022 (Kilo Tons) (USD Million)
2018 2019 2020 2021 2022
Kilo Tons 121.15 xx xx xx xx
USD Million 57.67 xx xx xx xx
TABLE 18 Animal Feed Microbial Protein market estimates and forecast, 2023 – 2032 (Kilo Tons) (USD Million)
CAGR
2023 2024 2025 2026 2027 2028 2029 2030 2031 2032 (2023-
32))
Kilo Tons xx xx xx xx xx xx xx xx xx xx xx%
USD
xx xx xx xx xx xx xx xx xx xx xx%
Million
Note: The final report will include information similar to the above data table(s) for all the segments listed in the
table of contents.

Chapter 6 Global Animal Feed Microbial Protein Market, By Livestock
6.1 Key livestock trends
• The poultry industry showed a growing interest in reducing reliance on traditional animal-based protein
sources, such as fishmeal and meat and bone meal, due to environmental concerns and sustainability
considerations. As a result, there was an increasing demand for plant-based proteins and microbial proteins
as alternative protein sources in poultry feed formulations.
6.2 Poultry
6.2.1 Anim al Feed Mic robial Protein m arket estim ates and forec ast, by poult ry 2018 -
2032
2018 2019 2020 2021 2022
CAGR
2023 2024 2025 2026 2027 2028 2029 2030 2031 2032 (2023-
32))
USD
Million
table of contents.

Chapter 7 Global Animal Feed Microbial Protein Market, By Fermentation

Technology
7.1 Key fermentation technology trends
• SSF technology allowed for better strain selection and optimization of microorganisms used for microbial
protein production. Researchers and manufacturers focused on identifying and developing strains with high
protein yields, improved nutritional profiles, and specific functional characteristics to meet the needs of
different animal species and production requirements.
7.2 Solid-state fermentation
7.2.1 Anim al Feed Mic robial Protein m arket estim ates and forec ast, by Solid- st at e
ferm ent at ion , 2018 - 2032
2018 2019 2020 2021 2022
CAGR
2023 2024 2025 2026 2027 2028 2029 2030 2031 2032 (2023-
32))
USD
Million
table of contents.

Chapter 8 Global Animal Feed Microbial Protein Market, By Form
8.1 Key form trends
• The market witnessed a notable increase in the adoption of microbial proteins in dry powder form for animal
feed. Dry powder formulations offered several advantages, including ease of handling, convenient storage,
and precise dosing. The powdered form allowed for better integration into feed formulations and ensured
uniform distribution of microbial proteins throughout the feed.
8.2 Dry powder
8.2.1 Anim al Feed Mic robial Pr ot ein m arket estimates and forec ast, by dry powder, 2018
- 2032
2018 2019 2020 2021 2022
CAGR
2023 2024 2025 2026 2027 2028 2029 2030 2031 2032 (2023-
32))
USD
Million
table of contents.

Chapter 9 Global Animal Feed Microbial Protein Market, By Region
9.1 Key regional trends
• North America witnessed a growing interest in alternative protein sources for animal feed, including
microbial proteins. This trend was driven by factors like sustainability concerns, consumer preferences for
eco-friendly products, and the need for novel protein solutions in animal nutrition.
9.2 North America
9.2.1 Nort h Am eric a Anim al Feed Mic robial Protein m arket estim ates and forec ast , 2018
- 2032
TABLE 25 North America Animal Feed Microbial Protein market estimates and forecast, 2018 - 2022 (Kilo
Tons) (USD Million)
2018 2019 2020 2021 2022
Kilo Tons xx xx xx xx xx
USD Million xx xx xx xx xx
TABLE 26 North America Animal Feed Microbial Protein market estimates and forecast, 2023 – 2032 (Kilo
Tons) (USD Million)
CAGR
2023 2024 2025 2026 2027 2028 2029 2030 2031 2032 (2023-
32))
USD
Million

9.2.2 Nort h Am eric a Anim al Feed Mic robial Prot ein m arket estim ates and forec ast , By
sourc e, 2018 – 2032
TABLE 27 North America Animal Feed Microbial Protein market estimates and forecast, By source, 2018 -
2032 (Kilo Tons)
CAGR
Source 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 2028 2029 2030 2031 2032 (2023 –
32)
Bacteria xx xx xx xx xx xx xx xx xx xx xx xx xx xx xx xx
Yeast xx xx xx xx xx xx xx xx xx xx xx xx xx xx xx xx
Algae xx xx xx xx xx xx xx xx xx xx xx xx xx xx xx xx
Fungi xx xx xx xx xx xx xx xx xx xx xx xx xx xx xx xx
Others xx xx xx xx xx xx xx xx xx xx xx xx xx xx xx xx
Total xx xx xx xx xx xx xx xx xx xx xx xx xx xx xx xx
TABLE 28 North America Animal Feed Microbial Protein market estimates and forecast, By source, 2018 -
2032 (USD Million)
CAGR
Source 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 2028 2029 2030 2031 2032 (2023 –
32)
Bacteria xx xx xx xx xx xx xx xx xx xx xx xx xx xx xx xx
Yeast xx xx xx xx xx xx xx xx xx xx xx xx xx xx xx xx
Algae xx xx xx xx xx xx xx xx xx xx xx xx xx xx xx xx
Fungi xx xx xx xx xx xx xx xx xx xx xx xx xx xx xx xx

livest oc k , 2018 – 2032
TABLE 29 North America Animal Feed Microbial Protein market estimates and forecast, By livestock, 2018 -
2032 (Kilo Tons)
CAGR
Livestock 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 2028 2029 2030 2031 2032 (2023 –
32)
Poultry xx xx xx xx xx xx xx xx xx xx xx xx xx xx xx xx
Broilers xx xx xx xx xx xx xx xx xx xx xx xx xx xx xx xx
Layers xx xx xx xx xx xx xx xx xx xx xx xx xx xx xx xx
Breeders xx xx xx xx xx xx xx xx xx xx xx xx xx xx xx xx
Ruminants xx xx xx xx xx xx xx xx xx xx xx xx xx xx xx xx
Swine xx xx xx xx xx xx xx xx xx xx xx xx xx xx xx xx
Aquaculture xx xx xx xx xx xx xx xx xx xx xx xx xx xx xx xx
TABLE 30 North America Animal Feed Microbial Protein market estimates and forecast, By livestock, 2018 -
2032 (USD Million)
CAGR
Livestock 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 2028 2029 2030 2031 2032 (2023 –
32)
Poultry xx xx xx xx xx xx xx xx xx xx xx xx xx xx xx xx
Broilers xx xx xx xx xx xx xx xx xx xx xx xx xx xx xx xx
Layers xx xx xx xx xx xx xx xx xx xx xx xx xx xx xx xx
Breeders xx xx xx xx xx xx xx xx xx xx xx xx xx xx xx xx
Ruminants xx xx xx xx xx xx xx xx xx xx xx xx xx xx xx xx
Swine xx xx xx xx xx xx xx xx xx xx xx xx xx xx xx xx
Aquaculture xx xx xx xx xx xx xx xx xx xx xx xx xx xx xx xx

ferm ent at ion t ec hnology , 2018 – 2032
TABLE 31 North America Animal Feed Microbial Protein market estimates and forecast, By fermentation
technology, 2018 - 2032 (Kilo Tons)
CAGR
Fermentation
2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 2028 2029 2030 2031 2032 (2023 -
Technology
32)
Solid-state
xx xx xx xx xx xx xx xx xx xx xx xx xx xx xx xx
fermentation
Submerged
fermentation
Co-culture
fermentation
TABLE 32 North America Animal Feed Microbial Protein market estimates and forecast, By fermentation
technology, 2018 - 2032 (USD Million)
CAGR
Fermentation
2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 2028 2029 2030 2031 2032 (2023 -
Technology
32)
Solid-state
fermentation
Submerged
fermentation
Co-culture
fermentation
form , 2018 – 2032
TABLE 33 North America Animal Feed Microbial Protein market estimates and forecast, By form, 2018 - 2032
(Kilo Tons)
CAGR
Form 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 2028 2029 2030 2031 2032 (2023 –
32)
Dry
Powder
Liquid xx xx xx xx xx xx xx xx xx xx xx xx xx xx xx xx
Pellets xx xx xx xx xx xx xx xx xx xx xx xx xx xx xx xx

TABLE 34 North America Animal Feed Microbial Protein market estimates and forecast, By form, 2018 - 2032
(USD Million)
CAGR
Form 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 2028 2029 2030 2031 2032 (2023 –
32)
Dry
Powder
Liquid xx xx xx xx xx xx xx xx xx xx xx xx xx xx xx xx
Pellets xx xx xx xx xx xx xx xx xx xx xx xx xx xx xx xx
Note: The final report will include information similar to the above data table(s) for all the countries listed in the
table of contents.

Chapter 10 Company Profiles
8.8.Calysta Inc.
10.1 B usiness Overview
Snapshot
Headquarters U.S.
Year of Establishment 2011
Employees 100 (As of 2022)
Type Private Company
Market Value USD 14.8 Million
Role in the Supply Chain Service Provider
• Fish & Livestock

Business Segments • Pets
• Food Ingredients
Subsidiaries Bioprotein AS
Calysta Inc. is biotechnology company that develops & commercializes sustainable products for food & energy
security. It has partnership agreements with other companies in the food & beverages industry. Calysta is targeting
the global aquaculture and livestock feed markets.
10.2 Financ ial Dat a
Calysta Inc. is a privately owned business. In 2022, the company's estimated revenue was USD 14.8 million.

10.3 Produc t L andsc ape
Product/Service Application/Feature
• Leading microbial protein

FeedKind net zero • Empowered by renewable energy and circular fermentation platform
• Protein with sustainability credentials
10.4 SWOT Analy sis
SWOT Analysis, Calysta Inc.
• Has a strong intellectual property portfolio
S •
•
Has a commercial-scale production facility
Strong partnerships with leading companies in the food & beverage industry
• Reliance on a small number of customers

W • Rivalry with other businesses developing methane-to-protein technology
• Growing demand for sustainable protein
O • Expansion in new markets
• Changes in the global market for protein
T • Emergence of new technologies that can complete with methane to protein

technology.

Chapter 11 Appendix
11.1 Segmentation
Industry Segmentation Regional Coverage
Animal Feed Microbial

Protein Market
North
Europe Asia Pacific LATAM MEA
America
By Fermentation
By Source By Livestock By Form
Technology South
U.S. Germany China Brazil
Africa
Saudi
Solid-state Canada UK Japan Mexico
Bacteria Poultry Dry Powder Arabia
fermentation
France India Argentina UAE
Submerged
Yeast Ruminants Liquid
fermentation Spain Australia Egypt
South
Italy
Co-culture Korea
Algae Swine Pellets
fermentation
Indonesia
Fungi Aquaculture Malaysia
Other Other
6
Source: www.gminsights.com
11.2 Market definitions
• Animal Feed Microbial Protein: Animal Feed Microbial Protein refers to a category of feed additives used in
animal nutrition, which includes various microorganisms such as bacteria, yeast, and algae. These
microorganisms are cultivated and processed to produce protein-rich products that are incorporated into
animal feed to enhance nutritional value, support gut health, and improve overall animal performance.
• By source, the animal feed microbial protein market is segmented into:
o Bacteria: Bacterial sources of microbial protein in animal feed typically involve the cultivation of
specific strains of bacteria, such as Bacillus subtilis or Escherichia coli (E. coli). These bacteria
undergo fermentation processes to produce proteins that are rich in amino acids and other
nutrients suitable for animal nutrition.
o Yeast: Yeast-based microbial protein is derived from the fermentation of yeast strains like
Saccharomyces cerevisiae. Yeast is a valuable source of high-quality protein, B-vitamins, and
minerals. The fermentation process involves the conversion of sugars into proteins, resulting in a
feed ingredient that enhances the nutritional profile of animal diets.

o Algae: Microbial proteins from algae involve the cultivation and processing of microalgae or
macroalgae. Algae are rich in essential amino acids, omega-3 fatty acids, and vitamins. Algal
cultivation can occur in open ponds or closed photobioreactors, utilizing photosynthesis for protein
synthesis.
o Fungi: Fungi-based microbial protein is produced through the cultivation of fungal strains, such as
Aspergillus or Trichoderma, using fermentation techniques. Fungal proteins are known for their
high protein content, amino acid profile, and potential for mycoprotein production.
o Other: This category encompasses alternative sources of microbial protein that may include
unconventional microorganisms, such as protozoa or archaea, or emerging technologies that
leverage unique biological entities for protein production.
• By Livestock, the animal feed microbial protein market is segmented into:
o Poultry: Microbial proteins for poultry are formulated to meet the specific nutritional needs of birds
such as chickens and turkeys. The proteins are designed to support growth, feather development,
and egg production.
▪ Broilers: Broilers refer to a specific category of poultry raised for meat production. These
are chickens that are selectively bred to grow rapidly and efficiently convert feed into
muscle mass. Microbial proteins for broilers are formulated to meet the high protein
requirements for muscle development, supporting rapid growth and ensuring the
nutritional needs of the birds are met throughout their short production cycle.
▪ Layers: Layers are a type of poultry specifically raised for egg production. These hens are
bred to produce a high quantity of eggs, and their nutritional requirements differ from those
of broilers. Microbial proteins for layers are formulated to support optimal egg production,
shell quality, and overall reproductive health.
▪ Breeders: Breeders in the context of poultry farming are adult birds selected for their
genetics and used for the purpose of breeding the next generation of broilers or layers.
Microbial proteins for breeders focus on ensuring the reproductive health of these birds,
supporting successful mating, egg production, and the development of healthy chicks.
▪ Others: The category others in livestock segmentation may include animals not covered by
the specific terms above, such as backyard poultry, game birds, or specialty birds.
o Ruminants: Ruminant-focused microbial proteins are tailored to the digestive physiology of
animals like cattle and sheep. These proteins are often formulated to enhance rumen function and
support optimal nutrient absorption.

o Swine: Swine-oriented microbial proteins are designed for the dietary requirements of pigs. These
proteins support growth, muscle development, and reproductive performance in swine.
o Aquaculture: Microbial proteins for aquaculture are formulated to meet the nutritional needs of
various fish and shellfish species. The proteins support growth, immune function, and overall health
in aquatic animals.
o Other: This category includes microbial protein formulations that cater to specific livestock
categories not covered by the above, such as companion animals or exotic species.
• By Fermentation Technology, the animal feed microbial protein market is segmented into:
o Solid-state fermentation: Solid-state fermentation involves the cultivation of microorganisms on

solid substrates without free-flowing water. This method is suitable for certain fungi and bacteria
and is often used to produce protein-rich biomass.
o Submerged fermentation: In submerged fermentation, microorganisms are cultivated in a liquid
medium. This technique is commonly employed for yeast and bacterial cultures and allows for
precise control over environmental conditions, nutrient supply, and oxygen levels.
o Co-culture fermentation: Co-culture fermentation involves the cultivation of multiple
microorganisms together. This approach can enhance the efficiency of protein production, improve
nutrient utilization, and create a more balanced nutritional profile in the final product.
• By Form, the animal feed microbial protein market is segmented into:
o Dry Powder: Microbial protein in dry powder form is obtained by drying and milling the fermented
biomass. This form is convenient for handling, storage, and incorporation into various feed
formulations.
o Liquid: Liquid forms of microbial protein involve the suspension of the protein-rich biomass in a
liquid medium. This format is suitable for certain application methods and may offer advantages in
terms of ease of mixing.
o Pellets: Pelletized microbial protein is produced by agglomerating the dry or liquid form into
compact, easily manageable pellets. This form is often chosen for its convenience in handling and
feeding.
• The regions included in the study are as follows:
o North America includes the U.S. and Canada
o Europe includes Western Europe, CIS and Central & Eastern Europe
o Asia Pacific includes Japan, China, India, Singapore, South Korea, Australia, and Rest of Asia Pacific.
o Latin America includes Mexico, Brazil, Argentina, and other countries

o MEA denotes the Middle East and African regions. GCC consists of Saudi Arabia, UAE, Qatar and
South Africa
11.3 Available customization

The scope of this research study can be customized to include:
• Additional country-level markets

• Additional / modified industry segments
• Additional company profiles
• Region or country-specific competitive analysis
• Pricing analysis
• Voice of Customer Study
• Brand perception analysis
• Go-to-market strategy
• Partner identification
• Product benchmarking
11.4 Related studies
Animal Feed Preservatives Market
Alternative Protein Market
Animal Feed Additives Market
Animal Feed Enzymes
Animal Feed Probiotics Market
Animal Feed Protein Ingredients Market
Animal Feed Acidifiers Market
Feed Mycotoxin Binders Market
Animal Feed Inactive Yeast Market
Compound Feed Market
Animal Feed Organic Trace Minerals Market
Refined Functional Carbohydrates Market
Feed Amino Acids Market

11.5 Research practices

GMI offers market intelligence through industry clusters that cover a diverse range of sectors, including technology,
healthcare, finance, energy, consumer goods, functional foods, and more. By organizing our market intelligence into
industry-specific clusters, we ensure that our customers have access to in-depth insight specific to their focus areas.
Each cluster comprises multiple reports that delve into market growth opportunities, trends, competitive landscape,
and dynamics.
To learn more about how our research-driven services can benefit your business, connect with our sales team today.
Disclaimer
GMI provides both, off-the-shelf and custom market research reports and services. These publications are solely for
internal use by our customers, with access limitations based on the license grade purchased. No part of the
document is meant for distribution to third parties. By placing the order, the customer acknowledges that the
disclosure, lending, or resale of this document is prohibited without written authorization from GMI. The bearer of
the document cannot reproduce or distribute the document in any form (such as electronic, photocopying,
recording, mechanical or otherwise) without express permission from GMI.
GMI does not bear responsibility for any incorrect information provided by suppliers. GMI does not make any legal
certifications for data accuracy since information obtained during primary interviews is subjective and open to
interpretation.

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About the Report

The report answers the following questions:

©Global Market Insights. All Rights Reserved. Page | 3

©Global Market Insights. All Rights Reserved. Page | 4

3.4.2. Industry pitfalls & challenges

©Global Market Insights. All Rights Reserved. Page | 5

©Global Market Insights. All Rights Reserved. Page | 6

9.5.3. Rest of LATAM

The above list of companies is arranged in alphabetical order

©Global Market Insights. All Rights Reserved. Page | 7

Chapter 1 Research Methodology

1.1 Research design

FIG. 1 Research design

Research Objectives Research Brief

©Global Market Insights. All Rights Reserved. Page | 8

1.2 Data collection techniques

FIG. 2 Data collection techniques

~ 85% Primary Research ~ 15% Data Mining

Focus Group Discussion Case-study Research

©Global Market Insights. All Rights Reserved. Page | 9

FIG. 3 Primary research process

Survey Design Survey

Sample Evaluation Data Sanitation and Tabulation

Recruitment Data Analysis

Pilot Survey Report Findings

1.3 Market size estimation

©Global Market Insights. All Rights Reserved. Page | 10

FIG. 4 Market sizing approach

1.4 Forecasting model

©Global Market Insights. All Rights Reserved. Page | 11

FIG. 5 Forecasting model

©Global Market Insights. All Rights Reserved. Page | 12

Chapter 2 Executive Summary

FIG. 6 Animal Feed Microbial Protein industry 3600 synopsis, 2022

2.2 Business trends

2018 2019 2020 2021 2022

Kilo Tons 211.80 225.15 237.75 234.74 xx

USD Million 100.8 115.7 140.0 143.2 xx

©Global Market Insights. All Rights Reserved. Page | 13

2.3 Regional trends

Region 2018 2019 2020 2021 2022

North America 69.15 72.74 76.01 74.24 xx

Europe 58.46 62.05 65.43 64.51 xx

Asia Pacific 47.40 50.60 54.07 54.21 xx

MEA 24.04 25.45 26.76 26.32 xx

LATAM 12.75 14.31 15.47 15.46 xx

Total 211.80 225.15 237.75 234.74 xx

©Global Market Insights. All Rights Reserved. Page | 14

Region 2018 2019 2020 2021 2022

North America 32.92 37.39 44.77 45.29 xx

Europe 27.83 31.90 38.54 39.35 xx

Asia Pacific 22.28 25.89 31.71 32.81 xx

MEA 11.44 13.08 15.76 16.05 xx

LATAM 6.35 7.47 9.25 9.68 xx

Total 100.8 115.7 140.0 143.2 xx

©Global Market Insights. All Rights Reserved. Page | 15

2.4 Source Trends

Source 2018 2019 2020 2021 2022

Bacteria 121.15 128.91 136.26 134.68 xx

Yeast 54.43 58.14 61.68 61.18 xx

Algae 14.83 15.81 16.74 16.58 xx