The Global Probiotics in Animal Feed Market was valued at USD 4.5 Bn in 2020 and is expected to reach USD 7.9 Bn by 2027, with a growing CAGR of 8.6 % during the forecast period.
Global Probiotics in Animal Feed Market Definition
Probiotics are live microorganism cultures that help to maintain a healthy bacterial balance in the gut. Probiotics are added to animal feed to keep intestine healthy and prevent diseases from spreading in the food chain. Lactobacillus acidophilus, bacillus species, and Enterococci faecium are some of the most used probiotics.
Global Probiotics in Animal Feed Market Dynamics
The driving factors influencing the global probiotics in animal feed market include increase in consumption of animal-based products such as meat, egg & milk, and growing awareness regarding benefits of probiotics in animal diet. Benefits such as improvement in production capacity, enhance gastrointestinal flora, reduce mortality rate, and stimulate immunological response in the animals. Such applications of probiotic in animal diet enhances the livestock productivity which thrives the growth of probiotics in animal feed demand in the market. Moreover, the major key players are adopting the strategies such as innovations in the offerings, approach towards the emerging market are the fuelling factor for the growth of the market. For instance, in April 2019, the Chr. Hansen Holding A/S (Denmark), launched the triple strain probiotics solutions for the poultry livestock, named as GALLIPRO FIT. This product supports to improve the digestive function and immune system in Turkey, layers, and broilers. The adoption of new strategy to expand company’s product portfolio in the probiotics in animal market.
Global Probiotics in Animal Feed Market Segmentation:
Company Profiles and Competitive Intelligence
The key players operating in the probiotics in animal feed market are:
Based on source, bacteria segment is estimated to hold the largest market share over the forecast period due to bacteria such as lactobacillus and bifido-bacterium are utilized in maximum probiotics in the animal feed
Based on the source, the global probiotics in animal feed industry has been segmented into bacteria and yeast & fungi. Further the bacteria segment is sub-segmented into bifido-bacterium, lactobacillus, streptococcus thermophilus, and others. The bacteria segment is expected to hold the highest market share during the forecast period. The bacteria are viable and sustainable alternative for the antibiotics of growth promotors which is the propelling factor for growth of this segment. Bifidobacterium and lactobacillus these both sub-segments are expected to hold the highest growth over the forecast period.
Based on livestock, poultry segment is expected to hold the highest share of the probiotics in animal feed market during the forecast period due to increasing consumption of meat and eggs
Based on livestock, the global market is divided into poultry, aquaculture, swine, ruminants, pets, others. The poultry segment is estimated to hold the largest share of the probiotics in animal feed market over the forecast period owing to increasing awareness about benefits regarding meat and eggs consumption. Poultry livestock is the great source of protein, iron, zinc, iodine, vitamins, and essential fatty acids. The major key-players are focusing towards providing better quality of the probiotics in animal feed. These factors are expected to drive the growth of the poultry segment in the near future.
The report also provides in-depth analysis of probiotics in animal feed industry dynamics such as drivers, restraints, opportunities, and challenges
COVID-19 Impact on the Probiotics in Animal Feed Market Analysis
The COVID-19 outbreak has had a positive impact on the global probiotics in animal feed industry predominantly in the dietary supplement market due to the health benefits and ability to enhance immunity that increases productivity of animals. Consumers’ demand for high value animal products as dietary supplements has increased dramatically because it provides a strong immune function and reduces the possibility of health threats. In addition, many countries in the world are under lockdown, and government authorities have mandated social distancing to curb the spread of the pandemic. Hence, many imports and exports of several countries have been restricted or delayed. This is not beneficial for product suppliers since their supply chain cannot cope with the surge in demand.
The report also provides an in-depth analysis of key trends in probiotics in animal feed market
|1||Industries are investing in the R&D to develop innovative products for the development of probiotics in animal feed||Positive|
|2||Increasing trend of using multi-strain probiotics in the livestock production||Positive|
The report also provides an in-depth analysis of recent news developments and investments
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