The new report by Expert Market Research titled, ‘Global Probiotics in Animal Feed Market Share, Report and Forecast 2023-2028’, gives an in-depth analysis of the global probiotics in animal feed market, assessing the market based on its segments like microbial genus, applications, and major regions.
The report tracks the latest trends in the industry and studies their impact on the overall market. It also assesses the market dynamics, covering the key demand and price indicators, along with analysing the market based on the SWOT and Porter’s Five Forces models.
The key highlights of the report include:
Market Overview (2018-2028)
- Forecast CAGR (2022-2027): 5.9%
The global probiotics in animal feed market is being driven by the growing need to boost the productivity of farm animals owing to the increasing demand for animal products including fish, milk, egg, and meat, among others. In addition to this, the increasing prevalence of diseases such as anthrax, pox, tetanus, and Brucellosis, among farm animals is anticipated to propel the demand for probiotics in the forecast period.
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Moreover, the increasing number of poultry farms, dairy farms, and fish farms, is likely to be a major aiding factor in the market. In terms of region, the Asia Pacific accounts for a significant share in the market owing to the favourable government policies in countries like India and China.
Industry Definition and Major Segments
Probiotics refer to live bacteria used in animal feed in sufficient amounts to stimulate the growth and health of animals such as livestock. Probiotics in animal feed are known to provide various benefits such as supporting gastrointestinal tract in animals, and supporting their heath in case of diseases. Moreover, probiotics stabilise intestinal microflora and reduce the risk of pathogenic bacteria.
By microbial genus, the market can be bifurcated into:
- Lactobacillus
- Bifidobacterium
- Yeast and Other Microbes
Based on application, the market is segmented into:
- Ruminant
- Poultry
- Swine
- Aquaculture
- Others
The regional markets for probiotics in animal feed include:
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East and Africa
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Market Trends
The thriving aquaculture and poultry farming is likely to be a major trend in the market, which is likely to propel the demand for probiotics for animal feed in the forecast period. Meanwhile, the increasing inclination towards probiotics instead of antibiotics owing to its safety and viability is anticipated to be another key trend aiding the market in the forecast period.
Moreover, the growing research and development (R&D) activities by the key market players to ameliorate their product offerings and aid the health of farm animals are anticipated to provide impetus to the market.
Key Market Players
The major players in the market are Evonik Industries AG, Chr. Hansen Holding A/S, DSM Nutritional Products AG, Provita Eurotech Ltd, and Lallemand Inc., among others. The report covers the market shares, capacities, plant turnarounds, expansions, investments and mergers and acquisitions, among other latest developments of these market players.
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