Global Probiotics In Animal Feed market overview 2024, Forecast To 2033
8 Feb, 2024
The probiotics in animal feed market has exhibited strong growth, projected to increase from $4.67 billion in 2023 to $5.09 billion in 2024, reflecting a CAGR of 9.0%. This growth is linked to factors such as the reduction of antibiotics in animal agriculture, an increased pet population, and a heightened focus on feed productivity. Looking ahead, the market is expected to reach $7.25 billion in 2028, with a CAGR of 9.2%, driven by trends like livestock production intensification, the shift towards natural and organic farming, and the growing awareness among farmers and animal nutritionists.
Global Probiotics In Animal Feed Market Key Driver
The demand for probiotics in the animal feed market is influenced by the growing preference for eggs and poultry meat. Increased population, higher purchasing power, and urbanization contribute to the rise in demand for eggs and poultry. Probiotics are used in poultry feed to enhance immunity and ensure disease-free conditions. In April 2023, the United States Department of Agriculture reported a significant increase in the total value of egg production to $19.4 billion in 2022. This increased demand for eggs and poultry meat is expected to boost the probiotics market in animal feed during the forecast period.
Get A Free Sample Of The Global Probiotics In Animal Feed Market ReportGlobal Probiotics In Animal Feed Market Segments
The global probiotics in animal feed market covered in this report is segmented –
1) By Form Type: Dry, Liquid
2) By Source Type: Bacteria, Yeast and Fungi
3) By Application Type: Cattle, Poultry, Swine, Aquaculture, Other Applications
By Geography: The regions covered in the Probiotics In Animal Feed market report are Asia-Pacific, Western Europe, Eastern Europe,North America, South America, Middle East, and Africa.
Asia-Pacificwas the largest region in the probiotics in animal feed market in 2023. Asia-Pacificis expected to be the fastest-growing region in the global probiotics in animal feed market share during the forecast period. The regions covered in the probiotics in animal feed market report include Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
Major Probiotics In Animal Feed Industry Players
Chr. Hansen Holding A/S, Royal DSM N.V., E. I. du Pont de Nemours and Company, Evonik Industries AG, Land O'Lakes Inc., Alltech Inc., Adisseo France SAS, Lallemand Inc., Archer-Daniels-Midland Company (ADM), Orffa Additives B.V., Provita Eurotech Ltd., Calpis Co. Ltd., Danisco A/S, Lesaffre, Novozymes A/S, Ohly GmbH, Kemin Industries Inc., Biomin Holding GmbH, Novus International Inc., Cargill Incorporated, BASF SE, Nutreco N.V., Yakult Honsha Co. Ltd., Novartis International AG, Bayer Aktiengesellschaft, Boehringer Ingelheim International GmbH, Merck & Co. Inc., Zoetis Inc., Elanco Animal Health Incorporated
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Probiotics In Animal Feed Market Overview
The probiotics in the animal feed refer to a live microbial feed additive that enhances the intestinal balance of the host animal. Probiotics are widely employed in animal feeding and are regarded as growth and health stimulators. Most probiotics used in animal nutrition are generated commercially and sold in liquid and solid forms.
Probiotics In Animal Feed Global Market Report 2023 provides data on the global probiotics in animal feed market such as market size, growth forecasts, segments and geographies, competitive landscape including leading competitors’ revenues, profiles and market shares. The probiotics in animal feed market report identifies opportunities and strategies based on market trends and leading competitors’ approaches.