Global Probiotics in Animal Feed Market Size to grow USD 10.7 Billion by 2032 | CAGR of 7.6%Category: Agriculture
Global Probiotics in Animal Feed Market to Grow $10.7 Billion by 2032
According to a research report published by Spherical Insights & Consulting, the Global Probiotics in Animal Feed Market Size is to grow from USD 5.1 billion in 2022 to USD 10.7 billion by 2032, at a Compound Annual Growth Rate (CAGR) of 7.6% during projected period. The demand for probiotics in livestock feed in fortified foods is projected to remain excessive due to increased consumer awareness of their benefits and a desire to purchase premium products containing probiotics in animal feed. The inclusion of probiotics in animal feed has been shown to improve animal health. The poultry market has grown gradually over the last decade, due to rising global demand for eggs and poultry meat.
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Browse key industry insights spread across 210 pages with 121 market data tables and figures & charts from the report on " Global Probiotics in Animal Feed Market Size, Share, and COVID-19 Impact Analysis, By Source (Yeast and Bacteria), By Livestock (Ruminants, Poultry, Swine, Aquaculture, and Pets), By Form (Dry, Liquid), and By Region (North America, Europe, Asia-Pacific, Latin America, Middle East, and Africa), Analysis and Forecast 2022 – 2032” Get Detailed Report Description Here: https://www.sphericalinsights.com/reports/probiotics-in-animal-feed-market
Probiotics in animal feed refer to the use of live microorganisms or beneficial bacteria as feed additives for livestock and other animals. These probiotics have been shown to improve animal health and nutrition, resulting in faster growth rates, better immune function, and higher feed conversion efficiency. The market for probiotics in animal feed is being driven by increased awareness of the importance of animal health and nutrition, as well as the need to reduce antibiotic use in livestock production. The expansion of the animal feed industry is another key driver of the probiotics in animal feed market. As the demand for animal-based products grows, the animal feed industry is expanding to meet that demand. As a result, more probiotics are being used in animal feed to improve the nutritional quality and safety of the feed. However, the regulations governing the use of probiotics in animal feed can be complicated and vary by country and region. This can create entry barriers for new market players and limit market growth.
Key market players are conducting research and development to create innovative probiotic products for animal feed. For instance, in January 2023, Chr. Hansen's newest science-based, research-proven probiotic product for feedlot cattle is BOVAMINE DEFEND Plus. By combining four strains into a single product in order to improve cattle health and efficiency, BOVAMINE DEFEND represents an evolutionary step forward in probiotic science.
The bacteria segment is expected to hold the largest share of the global probiotics in animal feed market over the forecast period.
The global probiotics in animal feed market is divided into yeast and bacteria, according to the source. Over the period of projection, the bacteria segment is projected to hold the largest share of the global probiotics in animal feed market. Their widespread use in monogastric animals can be attributed to their growth. Probiotics based on bacteria are also widely used in animal feed, particularly for monogastric animals like pigs and poultry.
The poultry segment is anticipated to hold the largest share of the global probiotics in animal feed market over the projected period.
The global probiotics in animal feed market is classified into ruminants, poultry, swine, aquaculture, and pets. Over the forecast period, the poultry segment is expected to hold the largest share of the global probiotics in animal feed market. The presence of a large number of poultry farms around the world can be attributed to segmental growth. Poultry, such as chickens and turkeys, are monogastric animals with distinct digestive needs from ruminants.
The dry segment is expected to hold the largest share of the global probiotics in animal feed market over the forecast period.
The global probiotics in animal feed market is divided into two types: dry and liquid. Over the forecast period, the dry segment is projected to hold the largest share of the global probiotics in animal feed market. The stability and ease of handling of dry probiotics make them a popular choice for animal feed manufacturers and farmers, contributing to segmental growth. Dry probiotics have a longer shelf life than liquid probiotics, which can help feed manufacturers and farmers.
North America is estimated to hold the largest share of the probiotics in animal feed market over the predicted timeframe.
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North America is projected to account for the largest share of the global probiotics in animal feed market during the study period. The United States is the region's largest consumer of probiotics in animal feed, owing to rising demand for animal protein products and a growing trend towards healthy animal husbandry practices. The growing awareness of the benefits of probiotics, as well as the rising demand for organic animal feed, are driving demand for probiotics in animal feed. In the coming years, the Asia Pacific region is expected to grow the fastest in the global probiotics in animal feed market. The Asia-Pacific region is the fastest-growing market for probiotics in animal feed, driven by rising meat product demand, increased animal health awareness, and rising disposable income in emerging economies such as China, India, and Japan. The growing emphasis on sustainable animal production practises is also driving demand for probiotics in animal feed.
Major vendors in the Global Probiotics in Animal Feed Market include Chr. Hansen, Evonik Industries, Koninklijke DSM N.V., DuPont, Land O'Lakes, Alltech, Ohly, Lesaffre, Lallemand Inc, Novozymes, Mitsui & Co., Ltd., Provita Eurotech Ltd, Calpis Co., Ltd., Pure Cultures, Unique Biotech, and Others.
- In July 2022, Kemin Industries introduced ENTEROSURE, an innovative probiotic solution. The worldwide company's next-generation probiotic helps minimize the risk of diseases influencing livestock and poultry intestinal wellness.
Key Target Audience
- Market Players
- Government Authorities
- Consulting And Research Firm
- Venture capitalists
- Value-Added Resellers (VARs)
This study forecasts revenue at global, regional, and country levels from 2020 to 2032. Spherical Insights has segmented the Global Probiotics in Animal Feed Market based on the below-mentioned segments:
Global Probiotics in Animal Feed Market, By Source
Global Probiotics in Animal Feed Market, By Livestock
Global Probiotics in Animal Feed Market, By Form
Global Probiotics in Animal Feed Market, Regional Analysis
- North America
- Rest of Europe
- Asia Pacific
- South Korea
- Rest of Asia Pacific
- South America
- Rest of South America
- Middle East & Africa
- Saudi Arabia
- South Africa
- Rest of Middle East & Africa
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