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A recent market study published by Future Market Insights on the Animal Feed Probiotics Market offers global industry analysis for 2016-2020 & opportunity assessment for 2021–2031. The study offers a comprehensive assessment of the most important market dynamics. After conducting a thorough research on the historical, as well as current growth parameters of the animal feed probiotics market, the growth prospects of the market are obtained with maximum precision.
Rising demand for quality feed to improve cattle and poultry yield will remain a chief growth driver. As per FMI, demand for animal feed probiotics will surge at a high pace in the livestock segment, in terms of animal type. The animal feed probiotics market value is expected to total US$ 3,113.3 Mn in 2021, according to Future Market Insights (FMI). The overall animal feed probiotics market value is expected to reach US$ 6,997.2 Mn by 2031, growing at a CAGR of 8.4% for 2021-31.
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“The retail industry has become more organized and it is predicted to grow across a variety of consumer product categories. The global animal feed probiotics market is predicted to be driven by the expansion of global retail chains, both physical and digital, as well as the expansion of product lines.” said a lead analyst at FMI.
Impact of COVID-19 on the Animal Feed Probiotics Market
Animal feed probiotics labelling may be subjected to enhanced scrutiny following the COVID-19 pandemic. More information on the potential role of food in the transmission of the virus through local and international trade is being sought by national food safety authorities and the International Food Safety Authorities Network (INFOSAN) Secretariat.
Clean label legal animal feed probiotics products will be in high demand as a result of these trends. The recovery of the global economy would eventually lead to an increase in per capita income and the adoption of healthier animal lives, which will boost the market in the forecast period.
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Key Takeaways from the Animal Feed Probiotics Market Study:
On the basis of animal type, demand in livestock segment is expected to grow at a CAGR 6.7% over the forecast period and to be valued at US$ 3,483.9 Mn by 2031 end.
Companion animals, equine and aquaculture combined are responsible for approximately 25.7% of the market in 2021. Demand from companion animals is expected to expand at 13.7% CAGR over the forecast period and to be valued at US$ 1,533.8 Mn by 2031 end.
Key Developments:
What is the animal feed probiotics market value?
The animal feed probiotics market will reach a valuation of US$ 3.1 Bn by the end of 2021.
What is the demand outlook for the animal feed probiotics market?
The animal feed probiotics sales are expected to total US$ 6.9 Bn by 2031, rising at a CAGR of 8.4% between 2021 and 2031
What are the key trends shaping animal feed probiotics market?
Some of the leading market players are focusing on introducing new lines of supplements to cater to the varying needs of animals. This will remain a key trend shaping the future of the global market.
At what rate did the animal feed probiotics demand grow in the last five years?
Animal feed probiotics demand increased at 5.2% CAGR between 2016 and 2020.
What are the key factors driving animal feed probiotics sales?
Focus on organically improving yield and wellbeing of animals will remain chief factors driving animal feed probiotics sales. Besides this, awareness regarding negative impacts of antibiotics feed will favor sales of animal feed probiotics.
What is the North America animal feed probiotics market outlook?
The North America market for animal feed probiotics is expected to rise at 6.4% CAGR through the forecast period.
At what rate will the animal feed probiotics sales increase in Europe?
Animal feed probiotics sales in Europe will increase by 5.5% CAGR between 2021 and 2031.
What is the South Korea and Japan outlook for animal feed probiotics market?
The demand for animal feed probiotics will increase by 11.6% in South Korea, while Japan will exhibit 11% CAGR through the assessment period.
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