HYDERABAD, India, March 11, 2016 /PRNewswire/ --
Mordor Intelligence announces the publication of their research report on the global feed probiotics market. The report titled "Global Feed Probiotics Market" is segmented based on type, animal type and geography for the forecast period 2015 - 2020. The report explains the current landscape and outlook of the market in detail.
The global feed probiotics market, estimated at USD 2299.95 million in 2015, is projected to reach USD 3314.1 million by 2020, with a compound annual growth rate (CAGR) of 7.6% percent during the forecast period 2015-2020.
Probiotics are defined as live microorganisms that are administered in specific amounts to impart health benefits on the host. Feed probiotics provide essential nutrition to animals and improve their overall growth. They enhance animal health by, improving the gut performance, increasing nutrient absorbing capabilities, boosting immunity and by balancing the pH level.
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The Asia-Pacific region is leading the feed probiotics market globally with a 42% share of the overall market share. This region is expected to grow at a CAGR of 7.9% during the forecast period. This high growth is driven by the rising demand for meat and other animal products from the emerging nations such as India and China. Europe is the second largest market closely followed by North America, South America and Africa. The overall growth of the feed additives market is expected to open up tremendous opportunities in the emerging countries such as India, China and Brazil.
The increase in demand for high-quality feed, concerns over animal health and the recent outbreak of diseases are the factors that drive the feed probiotics market. The ban on antibiotic growth promoters and the subsequent demand for viable supplements are the other crucial factors that influence the market. Lack of a general, scientific consensus on the precise impact and nutritional strength of probiotics is a major restraining factor of the market.
The market is segmented based on product type and animal type. Lactobacilli and bifidobacterium comprise the major feed probiotic product types. Out of these two, lactobacilli holds the leading market share and is projected for high growth rates during the forecast period. Among the segments based on animal type, poultry holds the largest revenue share followed by swine, ruminants, aquaculture and others.
Some of the major players in the market are Royal DSM, CHR Hansen, DuPont, Kemin Industries, BIO VET, and Calpis.
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SOURCE Mordor Intelligence