Probiotics in Animal Feed Market Size to Grow USD 5357.7 Million by 2030 at a CAGR of 4.2% | Valuates Reports
BANGALORE, India, April 29, 2024 /PRNewswire/ -- Probiotics in Animal Feed Market is Segmented by Type (Bacteria Source, Yeast Source), by Application (Cattle, Poultry, Swine, Aquaculture).
The Global Probiotics in Animal Feed Market was valued at USD 3897.4 Million in 2023 and is anticipated to reach USD 5357.7 Million by 2030, witnessing a CAGR of 4.2% during the forecast period 2024-2030.
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Major Factors Driving the Growth of Probiotics in Animal Feed Market:
Probiotics are becoming more and more popular in the animal feed industry due to several factors, including the trend towards natural alternatives, regulatory support in the form of prohibitions on the use of antibiotic growth promoters, increased livestock production worldwide, technological and scientific advancements that have led to the development of more effective probiotic strains, and the practicality of probiotics as an economical means of enhancing feed efficiency and overall animal performance.
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TRENDS INFLUENCING THE GROWTH OF PROBIOTICS IN ANIMAL FEED MARKET:
Probiotics are becoming more and more prevalent in animal feed as a result of the industry's move towards sustainable and natural options. Probiotics are preferred because they provide a natural and environmentally friendly way to improve animal health without using antibiotics or artificial chemicals, which is concerning given the growing worries about the effects of conventional agricultural methods on the environment. Because probiotics increase feed efficiency, lower mortality rates, and improve overall animal performance, they are beneficial economically. The long-term economic feasibility of adding probiotics to feed formulations is becoming recognized by livestock producers, who benefit from higher returns on investment due to increased production and less dependence on expensive treatments.
The rising use of probiotics in animal feed is mostly due to the regulatory environment. Because of worries about antibiotic resistance, several places have banned or restricted the use of antibiotic growth promoters in animal feed. This has increased interest in probiotics as a secure and reliable substitute for enhancing animal development and performance. Probiotic use has expanded as a result of the global livestock industry's development to supply the growing demand for animal products. Probiotics are being used by livestock farmers to increase feed conversion efficiency, boost nutrient absorption, and lessen the harmful effects of stress, all of which will eventually increase animal output.
Probiotics have become increasingly popular in the animal feed industry as a result of livestock producers' growing recognition of the value of animal health. The increasing emphasis on preventative care for animals has led to a surge in interest in dietary supplements such as probiotics that support gut health, boost immunity, and enhance general well-being.
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PROBIOTICS IN ANIMAL FEED MARKET SHARE ANALYSIS:
Due to its vast livestock base, high meat consumption, and rising consumer knowledge of the benefits of probiotics for animal health, Asia-Pacific held the greatest market share for probiotics in animal feed in 2017. The Asia-Pacific area has benefited greatly from the contributions of major nations including China, India, Japan, Australia, and New Zealand. The probiotics market for animal feed is anticipated to increase as a result of the region's rapidly expanding dairy and meat sectors.
Key Players:
- Chr. Hansen
- Koninklijke DSM
- Lallemand
- Lesaffre
- DuPont
- Novozymes
- Calpis
- Purina
- Schouw
- Evonik
- Alltech
- Mitsui
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