Meticulous Research®—leading global market research company published a research report titled, ‘Animal Feed Probiotics Market by Source (Bacteria [Lactobacillus, Bifidobacterium, Streptococcus thermophilus, Bacillus]), Animal Type (Poultry, Ruminants, Swine, Aquaculture, Pets, Other Animals), Form (Liquid), and Geography- Global Forecast to 2029.’
According to this latest publication from Meticulous Research®, the probiotics in animal feed market is expected to reach $6.07 billion by 2029 at a CAGR of 7.1% from 2022 to 2029. The growth of this market is attributed to the growing demand for animal protein, the increasing use of probiotics as an alternative to antibiotics, the rising incidence of intestinal disorders in livestock, and the increasing production of compound feed.
Furthermore, the shift toward natural growth promoters is expected to create lucrative opportunities for players operating in this market. However, complex regulations regarding the use of probiotics in animal feed products are expected to hinder the growth of this market to a notable extent.
The animal feed market is segmented based on source (bacteria, yeast), animal type (poultry, ruminants, swine, aquaculture, pets, other animals), and form (liquid, dry). The study also evaluates industry competitors and analyzes the market at the regional and country levels.
Based on source, in 2022, the bacteria segment is expected to account for a larger share of the animal feed probiotics market. The large market share of this segment is mainly attributed to the growing use of bacteria strains as a sustainable and viable alternative to antibiotic growth promoters and the increasing consumer awareness about feed quality. In addition, the growing use of probiotics in animal feed for improving digestion, animal performance, and the immune system and the growing awareness amongst cattle farmers, pet owners, and hobbyists about the various advantages of bacteria strain probiotics are expected to drive the demand for bacterial strain probiotics in the market.
Based on animal type, the aquaculture segment is expected to grow at the highest CAGR during the forecast period. The rapid growth of this segment is attributed to the growing use of probiotics to support the health, performance, and growth of farmed fishes and shrimps. Furthermore, the increasing need to ensure the health and safety of fish in the aquaculture sector and the consistent growth of the aquaculture industry are expected to drive the growth of this segment.
Based on form, in 2022, the liquid segment is expected to account for a larger share of the animal feed probiotics market. The large market share of this segment is attributed to the benefits of liquid probiotics, including fast absorption rate, ease of digestion, and higher optimization.
Based on geography, Asia-Pacific is expected to register the highest CAGR during the forecast period. The high market growth in Asia-Pacific is mainly attributed to factors such as increased consumer awareness about various diseases, the large production of poultry and cattle meat in countries such as China and India, and the rising number of innovations in probiotic formulations. In addition, the growing demand for safe and nutritional animal feed and the stringent regulations on the use of antibiotics in feed supplements are expected to offer lucrative opportunities for key players operating in this market.
The key players operating in the probiotics in animal feed market are The Archer-Daniels-Midland Company (U.S.), Chr. Hansen Holding A/S (Denmark), Lallemand Inc. (Canada), Dupont de Nemours, Inc. (U.S.), Evonik Industries AG (Germany), Koninklijke DSM N.V. (Netherlands), Orffa International Holding B.V. (Netherlands), Novozymes A/S (Denmark), Kemin Industries (U.S.), and Provita Eurotech Ltd (U.K.).
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