Thanks to the rising adoption of pets since the onset of the COVID-19 pandemic, the selenium yeast market forecast has been gaining traction. Millennials have been spending leniently on pet food, pet care, and other pet products to ensure optimal health of their furry companions. More veterinary practitioners and animal nutritionists have been recommending the use of selenium-fortified pet food due to its numerous benefits.
By 2027, the global selenium yeast market size is slated to cross $285 million, prompted by the increasing demand for cattle feed. Several research studies reveal how cows fed with selenium yeast-based feed produced higher concentrations of selenium in milk, thereby promising a nutritious dietary alternative for the health-conscious population, especially across European countries. Since calf health is another benefit of adding this ingredient to animal feed, numerous livestock and cattle owners have been switching to these products.
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Functional food & beverage applications likely to grow by 2027
Since selenium deficiency is linked with a compromised immune system as well as increased risk of several diseases, the COVID-19 pandemic has been generating considerable demand for selenium-based nutritional supplements. In order to boost their immunity and maintain a fully functional immune system, individuals across the globe have become more mindful about the content of their food.
Several functional foods and supplements are consumed by a growing portion of the global population on a regular basis, strengthening selenium yeast industry outlook. According to a study conducted by a group of scientists from the University of Surrey, low selenium status was associated with higher number of COVID-19 deaths across some Chinese provinces during the first wave.
Increasing autoimmune & thyroid disease prevalence to foster industry expansion
There is substantial medical evidence that suggests the efficacy of selenium supplementation for autoimmune conditions including thyroid. Healthcare practitioners have been prescribing the intake of selenium supplements to patients with thyroid because low selenium levels can heighten the risk of Graves’ disease.
As such, over the next few years, the selenium yeast market share from dietary supplements is expected to increase across Australia, New Zealand, United States, and Canada, owing to the high incidence of thyroid cancer across these countries. The Globocon 2020 report by the World Health Organization (WHO) states that over 62, 256 new cases were reported across North America alone.
Fruit wine manufacturers continue to exhibit growing interest
Changing preferences of consumers toward healthier options have sparked a renewed interest in fruit wines, influencing selenium yeast industry trends. Several fruit wine manufacturers have been fermenting their products using selenium enriched yeast and other extracts. Emerging fruit wine segments, including the jujube wine industry, is thriving on product benefits.
Thanks to its traditional origins, jujube wine is gaining popularity across China. Since selenium yeast can minimize bitterness during the wine fermentation of the fruit, the growing non-dairy-based probiotic food industry is accelerating market forecast.
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Industry players are introducing products that offer higher bioavailability than the existing counterparts. Lallemand, Selko, Aleris, Angel Yeast, Novus, ABF, Miro Chembiotech, and Garuda are some major selenium yeast manufacturers in the international market. These brands have been strengthening their presence via strategic alliances and expansion endeavors.
Recently, in February 2022, Phileo Lessafre announced that it has invested in the construction of a new plant in Valladolid, Spain. The new manufacturing facility will cater to the growing demand for organic selenium from animal farm owners across Europe, Africa, and the Middle East. Further investments in 2023 will expand selenium production for oxidative stress management applications for animals, according to the company.
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