Market Dynamics
Global Probiotics in Animal Feed Market is estimated to garner a valuation of USD 6.5 billion with a CAGR of 7.5% from 2019 to 2024 (forecast period). The report includes a description of the current scenario, the economic situation, and the COVID-19 analysis of the overall market. Probiotics are the micro-organisms required for the growth of the animal immune system, such as bacteria and fungi. The feed additives supplied to animals by means of food are referred to as probiotics in animal feed. The probiotics are both bacterial and non-bacterial. Types of bacterial probiotics include Bifidobacterium, Lactobacillus, Pediococcus, Streptococcus, etc. Non-bacterial probiotics are fungus and yeast, such as Aspergillus oryzae, Candida Pintolopessi, etc. Probiotics in animal feed industry deal with the production of probiotics, the types of probiotics available, the dosage of feed, and the effects of digestion in animals. Probiotics are usually fed in animal food to benefit the immune system by destroying pathogens that damage the body.
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The market is projected to grow significantly during the forecast period due to the growing demand for animal-based products such as milk, eggs, meat, and wool. The shift in the livestock sector from an unorganized sector to an organized one, owing to the increasing for animal-based products and technological developments in the livestock industry, is anticipated to create growth opportunities for players active in the market for animal feed probiotics. In addition, increasing concerns about animal health and awareness of the benefits of probiotics in animal nutrition are boosting the growth of the industry.
Moreover, the demand for animal feed has remained stable throughout the COVID-19 pandemic. However, supply shortages in every region have built barriers to the market. In April 2020, FEFAC (European Feed Manufacturers’ Federation) requested to issue border rules to ease the feed chain. Due to the present limited supply, market demand among farmers has increased, benefiting market players. Online sales have proven to play a crucial role in maintaining the current market demand. However, due to the implementation of strict standards and quality standards for the use of probiotics in animal nutrition, the market is facing challenges in its development.
Key Players
Some of the leading participants in the Global Probiotics in Animal Feed Market are Chr. Hansen Holding A/S (Denmark), Novozymes (Denmark), Kerry Group (Ireland), DuPont de Nemours, Inc. (US), Evonik Industries AG (Germany), Land O’Lakes, Inc. (US), Pure Cultures (US), Bluestar Adisseo Co., Ltd. (China), Novus International, Inc. (US), Koninklijke DSM N.V. (Netherlands), Schouw & Co. (Denmark), Lesaffre (France), Unique Biotech (India), Lallemand Inc. (Canada), Alltech (US)
Regional Analysis
Global Probiotics in Animal Feed Market has been studied concerning four key regions—North America, Asia Pacific, Europe, and the rest of the world.
The market in the Asia Pacific is estimated to account for the lion’s share of global animal feed probiotics. It is predicted to have the highest CAGR in the forecast period. The main countries driving the growth of the regional market are India, China, Indonesia, and Vietnam. In addition, increasing awareness among livestock farmers about the benefits of using probiotics for livestock is also augmenting demand for animal probiotics for feed additives in the Asia Pacific.
Market Segmentation
Global Probiotics in Animal Feed Market for has been segmented based on source, form, and livestock.
Based on the source, the global market for probiotics in animal feed has been classified as bacteria, yeast, and fungi. The bacteria segment has further been segregated into streptococcus, lactobacillus, bifidobacterium, and others.
Based on form, the global market for probiotics in animal feed has been classified as dry and liquid.
Based on livestock, the global market for probiotics in animal feed has been segregated into swine, poultry, ruminants, aquaculture, and others.
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NOTE: Our Team of Researchers are Studying Covid19 and its Impact on Various Industry Verticals and wherever required we will be considering Covid19 Footprints for Better Analysis of Market and Industries. Cordially get in Touch for More Details.
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