Animal Feed Probiotics Sales to Expand by 2.3x by 2032; Key Companies to Develop High Quality Probiotics to Double the Profits
The animal feed probiotics market analysis offered by Fact.MR scrutinizes key growth factors impacting sales through 2022 & beyond. The report provides in-depth insights covering key factors such as drivers, opportunities, key players’ strategies, and demand outlook. In addition to this, the study analyzes latest trends across various segments such as source, animal, form, and sales channel across 5 key regions.
NEW YORK, Nov. 1, 2022 /PRNewswire/ — The global animal feed probiotics market is poised to grow at 9.1% CAGR during the assessment period of 2022-2032. As per Fact.MR, the overall sales of animal feed probiotics are likely to be driven by growing focus on animal health and consumption of animal & dairy-based products. Further, demand will rise on account of surging need for companion animals.
With rising consumption of protein-rich diets across the globe, key players are improving the production of animal feed probiotics. Moreover, to prevent the outbreaks of cattle-based or poultry-based diseases, end users are increasing the adoption of these probiotics. This is resulting in increased research and development activities among leading players to capitalize on growing demand.
As per the study, animal feed probiotics help in maintaining a healthy gut and digestive tract. Consequently, livestock animals are frequently fed animal feed probiotics as vital ingredients. Bifidobacterium and lactobacillus are considered to be the two main sources used in the production of animal feed probiotics. However, rising awareness regarding the health benefits of yeast and fungi consumption will also boost the sales.
Additionally, increasing popularity of organic livestock and advancements in development of animal feed are also expected to drive demand for probiotics. Hence, key manufacturers are focusing on developing new probiotics due to their restrictive effect on digestive diseases.
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Besides, these products are available for use in ruminant animals such as cows and sheep to improve the health of their rumen mucosa, a large area of undigested material that is produced every day by millions of bacterial colonies.
Surging demand for meat and meat products, as well as growing importance of protein-rich diets among the millennial population would boost the market in the next decade. As per the Food and Agriculture Organization (FAO), the consumption of meat products and meat will increase at 1.7% year-over-year and the demand for food products will surge by 60% by the end of 2050.
However, the regulatory bodies such as the U.S. Food and Drug Administration have banned the usage of antibiotics as feed supplements for poultry and livestock animals. Hence, key players such as Evonik, Novozymes, Chr. Hansen, and others are focusing on developing high quality probiotics to gain revenue. On the back of these aforementioned factors, the demand in animal feed probiotics market is expected to surpass US$ 12 Billion by the end of 2032.
- India is projected to remain at the forefront in in Asia Pacific animal feed probiotics market, generating revenues worth US$ 208.5 Million.
- The U.S. animal feed probiotics market is slated to expand at 4.8% CAGR during the forecast period.
- By form, the liquid segment is expected to generate maximum profits in animal feed probiotics market by 2032.
- In terms of source, the lactobacillus, streptococcus, and yeast categories are likely to account for lion’s share in the market.
- Based on animal, the poultry segment is expected to showcase an upward trajectory in the upcoming decade.
- Rising prevalence of intestinal disorders among poultry and other livestock animals will improve the demand for animal feed probiotics.
- Growing focus on animal health to prevent animal-based disease outbreaks will aid the growth in animal feed probiotics market.
- Surging production of compound feed and consumption of animal-based products will spur the sales of animal feed probiotics.
- High research and development costs for the development of new and advanced probiotic strains might limit the sales in emerging economies.
- Presence of stringent international regulations and quality procedures for animal feed probiotics is likely to restrain the growth.
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Leading players in the animal feed probiotics market are focusing on launching effective and innovative products to gain competitive edge. Some of the industry giants are forming alliances with mergers & acquisitions and product development related to livestock to generate maximum profits, especially across Europe and East & South Asia.
Meanwhile, other players are establishing strong distribution networks through manufacturing facilities across India, China, Japan, Kore, Germany, and other countries in Europe. They are also collaborating with end users to expand their brand presence.
- In September 2022, BASF and Evonik, announced the partnership and entered into an agreement, granting Evonik non-exclusive rights to Opteinics™ to reduce the environmental footprints of the animal feeds probiotics industry by introducing digital ready-to-use sustainability platform.
- In 2021, Chr. Hansen announced the launch of Bovacillus™, an animal probiotic to support dairy and beef cattle health and performance. The company claims that this animal feed probiotic can also be used in a variety of feed applications.
Key Companies Profiled by Fact.MR
- Adisseo France SAS
- Calpis Co., Ltd.,
- Chr. Hansen Holding A/S
- DuPont Company
- Evonik Industries AG
- Nestle SA,
- Novus International, Inc.
- Koninklijke DSM N.V.
- Lallemand Inc.
- Alltech, Inc.
- Lesaffre et Compagnie SA
- Kerry Group plc
- Pure Cultures LLC
More Valuable Insights on Animal Feed Probiotics Market
In the latest study, Fact.MR offers a detailed study on global animal feed probiotics market for the forecast period of 2022 to 2032. This study also highlights key drivers promoting the sales of animal feed probiotics with analysis across below segments:
- Companion Animals
- Other Animals
- Liquid Animal Feed Probiotics
- Dry Animal Feed Probiotics
By Sales Channel:
- Modern Trade
- Specialty Stores
- Online Retailers
- Convenience Stores
- Direct Sales
- North America
- Latin America
- Asia Pacific
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Key Questions Covered in the Animal Feed Probiotics Market Report:
- What is the projected value of the animal feed probiotics market in 2022?
- At what rate will the global animal feed probiotics market grow until 2032?
- Which are the factors hampering the growth in the animal feed probiotics market?
- Which region is expected to lead in the global animal feed probiotics market during 2022-2032?
- Which are the factors driving the animal feed probiotics market during the forecast period? What is the expected market value of the animal feed probiotics market during the forecast period?
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