Increasing consumption of meat and meat products across along with growing focus on animal health are key drivers for revenue growth of the probiotics in animal feed market
Market size: USD 4.96 in 2020, Market Growth: CAGR of 7.4%, Market Trends: Lucrative growth opportunities for key market players due to ban on utilization of antibiotics in animal feed
The global probiotics in animal feed market size is expected to reach USD 8.8 billion by 2028 and register a CAGR of 7.4%, according to the latest report by Reports and Data. Increasing demand for dairy and meat products owing to rapidly growing population are some key factors driving overall market revenue growth.
Probiotics are live bacteria and yeasts that are essential for enhancing overall health and nutrition in animals. Probiotics are supplements and help to boost immunity and maintain microbial gut flora of animals. There has been a major increase in demand for probiotics in animal feed due to health benefits associated with consumption. Livestock farmers are aware of the shifting focus among health-conscious consumers regarding food products they prefer, and are increasingly focusing on providing nutrient-rich food to livestock to cater to demand and drive profits.
However, international quality standards and strict norms for animal feed probiotics along with high cost for R&D activities for developing new probiotic strains is expected to limit growth of the market to some extent over the forecast period.
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Key players in the global probiotics in animal feed market are Chr. Hansen (Denmark), Koninklijke DSM N.V. (Netherlands), DuPont De Nemours, Inc. (US), Evonik Industries (Germany), Land O’Lakes (US), Lallemand (Canada), Bluestar Adisseo Co. (China), Lesaffre (France), Alltech (US), Novozymes (Denmark), Calpis Co., Ltd. (Japan), Schouw & Co. (Denmark), Unique Biotech (India), Pure Cultures (US), Kerry (Ireland), and Mitsui & Co., Ltd. (Japan).
Some key highlights from the report:
- Based on the source, the yeast & fungi segment is expected register a steady revenue CAGR over the forecast period due to easy availability of yeast-based probiotics for animals, especially ruminants and pigs.
- In context to form, the liquid form segment revenue is expected to expand at a steady rate during the forecast period owing to higher preference for dry form probiotics. In addition, many manufacturers are developing multi-strain liquid solutions to overcome the drawback and decrease mortality rate and dependency on antibiotics.
- On the basis of livestock, the aquaculture segment is expected to register a significantly rapid revenue CAGR throughout the forecast period owing to increasing demand for probiotics in aquaculture feed. Additionally, many key players are emphasizing on developing advanced probiotics for overall growth and development of aquatic animals.
- Asia Pacific is projected to dominate other regional probiotics in the animal feed markets and register a robust CAGR of 7.8% during the forecast period. High consumption of meat and poultry products and increasing awareness regarding benefits of utilizing probiotics in animal feed are key factors supporting growth of the probiotics in animal feed market in this region.
- North America is expected to account for highest revenue share contribution throughout the forecast period due to growing trend of healthy food consumption, high demand for probiotics in feed industry, and rising demand for processed beef products.
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For this study, Reports and Data has segmented the global probiotics in animal feed market based on source, form, livestock, and region:
Based On Source: (Revenue, USD Billion, 2018 – 2028)
- Streptococcus thermophilus
- Yeast & Fungi
- Saccharomyces cerevisiae
- Saccharomyces boulardii
- Aspergillus oryzae
- Candida pintolopesii
Based On Form: (Revenue, USD Billion, 2018 – 2028)
Based On Livestock: (Revenue, USD Billion, 2018 – 2028)
Based On Region: (Revenue, USD Billion, 2018 – 2028)
- North America
- Rest Of Europe
- Asia Pacific
- South Korea
- Rest of APAC
- Latin America
- Middle East & Africa
- Saudi Arabia
- South Africa
- Rest of MEA
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Objective of Studies:
- To provide detailed analysis of the market structure along with forecast of the various segments and sub-segments of the global Probiotics In Animal Feed market.
- To provide insights about factors affecting the market growth. To analyze the Probiotics In Animal Feed market based on various factors- price analysis, supply chain analysis, Porte five force analysis etc.
- To provide historical and forecast revenue of the market segments and sub-segments with respect to four main geographies and their countries- North America, Europe, Asia, Latin America and Rest of the World.
- To provide country level analysis of the market with respect to the current market size and future prospective.
- To provide country level analysis of the market for segment by application, product type and sub-segments.
- To provide strategic profiling of key players in the market, comprehensively analyzing their core competencies, and drawing a competitive landscape for the market.
- To track and analyze competitive developments such as joint ventures, strategic alliances, mergers and acquisitions, new product developments, and research and developments in the global Probiotics In Animal Feed market.
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