PUBLISHER: Stratistics Market Research Consulting | PRODUCT CODE: 1258834
PUBLISHER: Stratistics Market Research Consulting | PRODUCT CODE: 1258834
According to Stratistics MRC, the Global Probiotics in Animal Feed Market is accounted for $5.2 billion in 2022 and is expected to reach $8.6 billion by 2028 growing at a CAGR of 8.8% during the forecast period. Probiotics are living microorganisms that, when given in sufficient dosages, boost the host's health. To maintain the microbial ecosystems of the digestive tract in both ruminant and monogastric animals, probiotics are widely employed as feed supplements. Probiotics are viewed as a secure and effective substitute for antibiotics. They replenish and balance the digestive system's beneficial microorganisms. Supplementing probiotics in animal feed positively alter the gut microbiota, reduce illness symptoms and pathogen shedding and promotes disease resistance.
According to the Food and Agriculture Organization (FAO), demand for food supplies will increase by 60% by 2050, while animal protein demand will increase by 1.7 percent annually.
The consumption of meat and dairy products is on the rise, which has led to an increase in the demand for probiotics used in animal feed. These are only a few of the documented changes in global dietary preferences and consumption patterns. The market for animal feed probiotics has grown as a consequence of the increasing demand for animal products including dairy, meat, and other non-food items. These elements are fuelling the market demand.
Probiotics are widely employed in animal feeding and are regarded as growth and health stimulators. Probiotics used in animal feed products must adhere to stringent guidelines and regulations in order to reach high international standards. Due to stringent EC rules, the unique effectiveness of probiotics in animal feeding is thoroughly confirmed which hinders the market demand.
Innovations have been a key focus area in the feed industry. The discovery of sustainable feed additives is a continuing goal of several regulatory agencies. Manufacturers of feed are providing the top components and technology to create cutting-edge additive combinations in order to fulfill the rising demand which is further driving the market expansion.
The expansion of the market for probiotics in animal feed is hindered by significant expenditures in R&D activities, labs, research equipment, and the high cost of recruiting qualified personnel. The success of this market is attributed to the scientific confirmation of the use of probiotics in various applications. The health advantages of probiotic applications make it difficult for producers to get a sufficient return on their substantial initial investments.
The COVID-19 pandemic significantly affected the animal feed probiotics market. Likewise, the transportation and logistics industry was severely impacted by COVID-19-infected workers, which resulted in fewer deliveries and forced farms to stockpile animal feed. Because to the difficulties caused by the pandemic, the export of chicken, beef, and pork decreased significantly on a global scale. The post pandemic raised back the demand of the market.
The poultry segment is estimated to have a lucrative growth, due to the increasing consumption of poultry meat and the growing demand for antibiotic-free poultry products. The growing demand for production of chicken and meat in emerging nations also increases the need for probiotics to increase output and safety, driving up the price of probiotics in the poultry industry.
The dry segment is anticipated to witness the fastest CAGR growth during the forecast period, due to ease of storage and longer shelf life. The storage and transportation expenses for this category are affordable. As compared to liquid form, it has a low moisture content, which would make it even less suited for eating. This aspect is driving the expansion of the segment.
Asia Pacific is projected to hold the largest market share during the forecast period owing to rise in awareness among consumers to supplement consumption and a high occurrence of various diseases. The production of poultry and cattle meat products is projected to be the highest in countries such as China, and India. Eggs, milk, fish, and poultry are in higher demand in this area since they are inexpensive sources of protein. Rising incomes, urbanization, and an expanding technological base are all contributing factors to the market expansion in this area.
Europe is projected to have the highest CAGR over the forecast period, owing to the growing demand for meat and poultry products. Producers in the area supplement animal feed with bacteria and yeast species like Saccharomyces cerevisiae to boost animal performance and satisfy the region's rising demand for meat and poultry products. The expansion of the market in this area has been boosted by technological advancements in the usage of animal feed to enhance the performance of pets.
Some of the key players profiled in the Probiotics in Animal Feed Market include: Danisco Animal Nutrition, Alltech, Evonik Industries AG, Chr. Hansen Holding A/S, Novus International, Inc, Lallemand, Royal DSM, Calpis Co Ltd, Pure Cultures LLC, Adisseo, ADM, Land O'Lakes, Koninklijke DSM, Novozymes, Provita Eurotech Ltd, Lesaffre, Agrihealth, Arm & Hammer Animal Nutrition, Advance Aqua Bio Technologies and Orffa International Holding BV.
In March 2023, Danisco Animal Nutrition & Health, a business unit of IFF, announced the launch of Axtra® PRIME, an optimized enzyme blend designed to address key challenges in piglet production. According to the company statement this highly effective feed solution, now available in the US, improves nutrient digestion, enhances gut health, and delivers measurable performance results.
In March 2023, Evonik launches new TEGO® Flow 380 leveling agent for high-quality automotive clear coatings. TEGO® Flow 380 is suitable for solventborne coatings, especially clear coats. It is characterized by excellent anti-popping properties and good compatibility. The main applications are automotive and general industrial coatings.
In January 2023, Global animal health and nutrition company Novus International, Inc, announced its acquisition of biotech company Agrivida Inc. Through the purchase, Novus takes ownership of the proprietary INTERIUS™ technology Agrivida developed to embed feed additives inside grain.
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Note: Tables for North America, Europe, APAC, South America, and Middle East & Africa Regions are also represented in the same manner as above.