High demand for meat and dairy products and ban on use of antibiotics in animal feed are some factors fueling growth of probiotics in animal feed market
New York, New York--(Newsfile Corp. - April 19, 2021) - The global probiotics in animal feed market size is expected to reach USD 8.8 billion in 2028 and register a CAGR of 7.4%, according to the latest report by Reports and Data. Increasing consumption of animal-based products and rising focus on nutritive diets for livestock are key factors driving market revenue growth.
Market size: USD 4.96 in 2020, Market Growth: CAGR of 7.4%, Market Trends: Rising awareness about animal diseases among livestock farmers and pet owners
Probiotics are live organisms that are added to animal feed as supplements to provide better nutrition, improve the gut flora, and enhance overall immunity of animals. These organisms not only maintain the microbial flora in intestinal tract, but also enable development of resistance against harmful pathogens. Growing demand for probiotics in animal feed is due to positive effect of probiotic consumption on animal health. Moreover, implementation of a ban on antibiotics usage in animal feed has opened up new growth opportunities for key players to invest and develop improved probiotics going ahead.
However, high costs associated with R&D for developing probiotic strains and implementation of strict norms and quality checks regarding probiotics usage are some crucial factors expected to restrain growth of the probiotics in animal feed market during the forecast period.
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Some key highlights from the report:
In context to form, the dry form segment revenue is expected to expand at the highest CAGR throughout the forecast period. High preference for dry probiotics due to various advantages like easy storage and transportation, enhanced shelf life over liquid probiotics.
Based on source, the bacterial segment is expected to account for largest revenue share during the forecast period owing to various health benefits such as better gut health and improved immunity in livestock offered by bacteria.
On the basis of livestock, the poultry segment is expected to register highest CAGR during the forecast period owing to high demand for poultry and poultry products, especially in Asia Pacific.
Asia Pacific is expected to dominate other regional markets and register the fastest revenue CAGR of 7.8% between 2021 and 2028 owing to high meat consumption, rising awareness among people about benefits of including probiotics in animal feed, growing demand for poultry products, and adoption of urbanized lifestyle. China, India, and Japan are significant contributors in terms of revenue to the market in this region.
The market in Europe is projected to register a rapid CAGR throughout the forecast period owing to factors such as stringent regulations in food and livestock industry to maintain quality and hygiene standards and rising adoption and use of probiotics in animal feed.
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)
Bluestar Adisseo Co. (China)
Calpis Co., Ltd. (Japan)
Schouw & Co. (Denmark)
Unique Biotech (India)
Pure Cultures (US)
Mitsui & Co., Ltd. (Japan)
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)
Yeast & Fungi
Based On Form: (Revenue, USD Billion, 2018 - 2028)
Based On Livestock: (Revenue, USD Billion, 2018 - 2028)
Based On Region: (Revenue, USD Billion, 2018 - 2028)
Rest Of Europe
Rest of APAC
Rest of LATAM
Middle East & Africa
Rest of MEA
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