Probiotics in Animal Feed Market Size is Estimated to Reach $7.3 billion by 2026
Growth in the Consumption of Animal-Based Products is Driving the Market Growth
Chicago, May 25, 2022 (GLOBE NEWSWIRE) -- According to MarketsandMarkets™, the "Probiotics in Animal Feed Market by Livestock (Poultry, Ruminants, Swine, Aquaculture, Pets), Source (Bacteria, Yeast), Form (Dry, Liquid), and Region (North America, Europe, Asia Pacific, South America, & Rest of World) - Global Forecast to 2026", is projected to reach USD 7.3 billion in 2026; it is projected to record a CAGR of 8.8% during the forecast period.
*Download PDF Brochure:* https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=85832335The market for probiotics in animal feed is highly impacted by the reduced reliance on therapeutic antibiotics to retain antibiotic efficacy, accompanied by increased demand for quality animal products. Furthermore, the EU’s ban on antibiotic growth promoters has opened opportunities for probiotic manufacturers over the last decade. The stringent regulations across the globe are restraining the market growth, and the high cost of manufacturing probiotic strains is expected to pose a challenge for probiotic product manufacturers. The US and China are the major markets for livestock products. Emerging markets of the Middle East and South America are also expected to fuel the market's future growth for probiotics in animal feed.
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*272 - Pages*The use of probiotics in animal feed has shown positive effects on overall animal health. Probiotics in feed can be universally used for various animal types, such as cattle, poultry, swine, aquaculture, and pets. The market for poultry has been increasing gradually over the past decade, with the growing demand for egg and poultry meat across the globe. Many probiotics in animal feed products are classified based on bacterial strains used, such as Lactobacillus and Bifidobacterium. These products are prominently present in the form of bacteria, which help in improving gut health.*Key Players & COVID-19 Impact*
The global market for probiotics in animal feed market is dominated by large-scale players such as Chr. Hansen (Denmark), Koninklijke DSM N.V. (Netherlands), DuPont (US), Evonik Industries (Germany), Land O'Lakes (US), Mitsui & Co., Ltd. (Japan), Ohly (Denmark), Lesaffre (France), Alltech (US), Novozymes (Denmark), Calpis Co., Ltd. (Japan), Unique Biotech (India), and Pure Cultures (US).During the pandemic, the market for probiotics in animal feeds has faced few challenges during transportation and distribution due to the lockdown in various countries. However, considering the growing demand from livestock farming, the government regulations in most countries were introduced about the industry, which has led to an increase in growth opportunities in probiotics for various livestock species segments, such as poultry, swine, aquaculture, pets, and others. However, after the lockdowns are removed in various countries, and the pandemic situation has eased a bit, distribution facilities of better-quality probiotics in animal feeds are likely to increase in use in the growing livestock segment in the research study.*The dry segment by form is projected to account for the largest growth of the animal feed probiotics market over the forecast period.*
The dry form of probiotics is usually mixed in the feed for animals, including cattle, poultry, and swine. Cattle often consume dry tropical grasses, which have high fiber content but are poor in taste and have less nutritive value. Due to these factors, diverse types of dry specialty feed additives, such as bacteria and yeast, are used in feed, particularly for animals, such as dogs, cats, horses, and cattle, to fulfill their nutritional requirements. These additives serve as excellent carriers for feed and are nutrient rich. They make the feed palatable and increase its consumption among animals, which helps in reducing feed wastage and labor requirements.
*Asia Pacific is projected to be the fastest growing market.*
The growth in population, rise in disposable incomes, rapid urbanization in the Asia Pacific region, and an increase in demand for high-quality meat products are the key factors that have encouraged the demand for feed additives. Substantial growth is seen in countries, such as China, India, and Japan, due to the increase in the purchasing power of the population and demand for protein-rich meat diets. Pork and poultry are widely consumed in the Asia Pacific region.
*Request for Customization:* https://www.marketsandmarkets.com/requestCustomizationNew.asp?id=85832335Moreover, consumers prefer opting for products that have high nutritional content and offer health benefits and exotic tastes. Thus, fish and other seafood products are also a preferred choice for consumers, which is also a growing industry in this region. The presence of a wide range of fishery resources, both freshwater and marine, is considered a key factor that has encouraged the consumption of seafood products in the Asia Pacific region. There is an increase in consumer demand for fish produced without antibiotics that are environmental-friendly and animal-friendly. This new trend in the aquaculture industry is leading to a change towards sustainable aquaculture production methods, which, in turn, results in an increase in the usage of feed additives, such as probiotics, in feed products. This, in turn, is projected to drive the growth in the probiotics in feed market.
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