Chicago, Jan. 10, 2024 (GLOBE NEWSWIRE) -- The global probiotics in animal feed market is anticipated to grow from USD 4.6 billion in 2023 to USD 7.1 billion in 2028, at a compound annual growth rate (CAGR) of 9.1%. Owing to the increase in production and demand of compound feed along with rising consumption of feed additives in emerging markets such as Asia Pacific and South America.
Probiotics in Animal Feed Market Report Scope:
| Report Metric | Details |
| Market Valuation in 2023 | USD 4.6 billion |
| Revenue Forecast in 2028 | USD 7.1 billion |
| Progress Rate | CAGR of 9.1% |
| Forecast period considered | 2023–2028 |
| Market Drivers |
|
| Market Opportunities |
|
Probiotics in Animal Feed Market Overview
The Probiotics in Animal Feed market is a rapidly growing segment within the broader animal nutrition industry. Probiotics, which are live microorganisms that confer health benefits when consumed, have gained significant attention for their potential to enhance animal health and performance.
Key factors contributing to the probiotics in animal feed market growth include:
- Growing Emphasis on Animal Health: There is an increasing awareness among livestock producers about the importance of maintaining optimal animal health. Probiotics play a crucial role in promoting a balanced gut microbiota, which is linked to improved immunity and overall well-being in animals.
- Alternative to Antibiotics: With rising concerns about antibiotic resistance and the push for sustainable farming practices, probiotics have emerged as a viable alternative to traditional antibiotics. Probiotics contribute to disease prevention and can reduce the need for antibiotic use in livestock.
- Improved Feed Conversion Efficiency: Probiotics have shown the potential to enhance feed conversion efficiency in animals. This is particularly important in the context of efficient resource utilization and cost-effective livestock production.
- Regulatory Support and Guidelines: Governments and regulatory bodies are increasingly recognizing the importance of probiotics in animal nutrition. The development of clear guidelines and regulations supporting the use of probiotics in animal feed has contributed to market growth.
- Rising Demand for Animal Protein: The global demand for animal protein, including meat, milk, and eggs, is on the rise. Probiotics aid in maximizing productivity and ensuring the quality of animal-derived products, meeting the escalating demand from a growing global population.
Book a meeting with our experts to discuss your business needs @
https://www.marketsandmarkets.com/speaktoanalystNew.asp?id=85832335
Asia Pacific is expected to dominate the market during the forecast period.
Countries such as China, India, Japan, Australia & New Zealand, and rest of the Asia Pacific have been considered in this study. Some of the factors for the high demand of the market in Asia Pacific region includes growing population, rise in disposable incomes, and rapid urbanization. Increasing demand for meat and animal products among the growing population of the Asia Pacific region along with the rising affluence in the region resulted in high consumption of meat products. This has also resulted in intensified livestock production for meat, which in turn drives the need for improved animal health and performance.
List of Key Players in Probiotics in Animal Feed Market:
- ADM (US)
- International Flavors & Fragrances Inc. (US)
- CHR. HANSEN HOLDING A/S (Denmark)
- Evonik Industries AG (Germany)
- Land O'Lakes (US)
- DSM (Netherlands)
- Ohly (Germany)
- Novozymes (Denmark)
- Alltech (US)
- Kemin Industries, Inc. (US)
- Provita Animal Health (UK)
- Orffa (Netherlands)
- Lesaffre (France)
Key Questions Addressed by the probiotics in animal feed market report:
- What is the projected market value of the global probiotics in animal feed market?
- What is the estimated growth rate (CAGR) of the global probiotics in animal feed market for the next five years?
- Which are the major companies in the Probiotics in Animal Feed market?
- Which region is expected to hold the highest market share?
CONTACT: About MarketsandMarkets™ MarketsandMarkets™ has been recognized as one of America’s best management consulting firms by Forbes, as per their recent report. MarketsandMarkets™ is a blue ocean alternative in growth consulting and program management, leveraging a man-machine offering to drive supernormal growth for progressive organizations in the B2B space. We have the widest lens on emerging technologies, making us proficient in co-creating supernormal growth for clients. Earlier this year, we made a formal transformation into one of America's best management consulting firms as per a survey conducted by Forbes. The B2B economy is witnessing the emergence of $25 trillion of new revenue streams that are substituting existing revenue streams in this decade alone. We work with clients on growth programs, helping them monetize this $25 trillion opportunity through our service lines - TAM Expansion, Go-to-Market (GTM) Strategy to Execution, Market Share Gain, Account Enablement, and Thought Leadership Marketing. Built on the 'GIVE Growth' principle, we work with several Forbes Global 2000 B2B companies - helping them stay relevant in a disruptive ecosystem. Our insights and strategies are molded by our industry experts, cutting-edge AI-powered Market Intelligence Cloud, and years of research. The KnowledgeStore™ (our Market Intelligence Cloud) integrates our research, facilitates an analysis of interconnections through a set of applications, helping clients look at the entire ecosystem and understand the revenue shifts happening in their industry. To find out more, visit www.MarketsandMarkets™.com or follow us on Twitter, LinkedIn and Facebook. Contact: Mr. Aashish Mehra MarketsandMarkets™ INC. 630 Dundee Road Suite 430 Northbrook, IL 60062 USA: +1-888-600-6441 Email: sales@marketsandmarkets.com
