Probiotics in Animal Feed Market Overview:
The primary fueling factor for the global probiotics in animal feed market is a rise in awareness of the cattle and the pet owners regarding the beneficial effects of the probiotics on the livestock's overall performance. The strict regulatory approach over the synthetic feed additives that are known to have detrimental health impacts both on humans and animals has brought probiotics to the center stage of the animal feed sector, augmenting the market's growth. The rapid growth in the consumption of animal-derived products and its promising future growth trajectory has also brought clean-label requirements to the forefront. Cattle owners and producers are now inclined to opt for natural offerings that improve animal productivity. Such developments resonate favorably with the sustainable growth of the Probiotics in Animal Feed Market.
In addition, the Probiotics in Animal Feed Market Share are expected to rise at a CAGR of 8.6%, with a value of USD 0.4 Billion over the estimated forecasting year of 2023-2030.
Increasing pressure on the livestock industry has intensified to meet the growing demand for meat and high-value animal protein. Population growth, rising incomes in developing nations, and urbanization have led to a surge in global livestock consumption. The level of income and consumption of animal protein is directly correlated to the consumption of milk, meat, and eggs, increasing at the expense of staple foods. The highest growth in meat consumption is expected from the Asia-Pacific and Latin American regions because of changing diet patterns, urbanization, and economic growth. According to Agriculture and Agri-food Canada, the demand for meat in China surpasses the domestic supply. Increasing life expectancy and limited availability of land and water resources for animal feed production, coupled with the robust demand for animal-based protein sources, are driving the market for feed probiotics.
Market Segmentation:
The global probiotics in animal feed market has been segmented into four sections: source, form, livestock, and regional. The market is divided into four parts with the source sections: streptococcus, lactobacillus, bifidobacterium, and others. The market is classified into two parts, dry and liquid, with the form type. With the livestock part, the global market is divided into five sections: swine, poultry, ruminants, aquaculture, and others. According to the regional sectors, the global market is divided into five parts: Asia-pacific, Europe, North America, South America, and the Middle East Africa.
Regional Analysis:
Most countries in Europe had used excessive amounts of antibiotics for their livestock. As the standardization of meat consumers in the importing country increases day by day, stocks with a higher level of antibiotics are getting rejected. Hence, farmers are asked to use natural ingredients as feed supplements. During this scenario, probiotics played a crucial role. In addition to the standardization, several amendments are going on. For instance, the German Drug Act aims to reduce the usage of antibiotics in livestock farming gradually. In addition to this, there are new regulations in the regions, allowing the relevant authorities to check the frequency of antibiotics used in farm animals. Due to such restrictions, growers are pressurized to shift to natural feed ingredients, driving the growth of Probiotics in Animal Feed Market Trends.
Key Players:
The global Key Probiotics in Animal Feed Market Players are:
- 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)
Industrial News:
The probiotics in animal feed market is highly fragmented, with the top-five market players accounting for 8.95% of the market share. Three categories of players operate in the studied market: research and development firms, manufacturing firms, sales companies, and brand owners. Furthermore, the market consists of a number of integrated players who are active in the entire B2B value chain.
Related Report:
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