ALBANY, New York, March 12, 2020 /PRNewswire/ -- According to the latest research report by Transparency Market Research, the global animal feed probiotics market is projected to showcase a healthy CAGR of ~7% over the course of the given period of forecast ranging from 2019 to 2027. With the given rate of development, the global market is estimated to generate revenue worth US$4.3 Bn by the end of 2027. Initially, the sales of the global animal feed probiotics market were worth around US$2.6 Bn.
"In recent years, there has been a growing demand for animal protein across the globe. This has put great pressure on livestock farmers to supply ample nutritional supplement in animal feed. Growing consumption of variety of animal products such as chicken, eggs, beef, and meat has increased the testing and scrutiny levels of monitoring and regulatory bodies. This has led to massive rejections of antibiotic-fed farm animals. This has presented huge growth opportunity for the market players in the animal feed probiotics market and they are trying to leverage the same by providing superior feed and products. This is expected to act as a key driving factor for market growth." finds TMR analyst.
Global Animal Feed Probiotics Market – Key Takeaways
Lactobacillus-based bacterial animal feed probiotics are projected to showcase maximum growth rate in coming years of the forecast period.
Bifidobacterium and lactobacillus cumulatively account for around 60% share of the overall global market.
Animal feed probiotic market is currently dominated mainly by the poultry segment and it is expected to continue to its domination for upcoming years.
Explore a report with detailed research, incisive insights, and in-depth country levels estimations. Gain business intelligence on global Animal feed probiotics market by Source - Bacteria and Non-bacteria; Animal - Companion Animals and Livestock; Form - Liquid and Dry; Sales Channel - Modern Trade, Specialty Stores, Online Retailers, Convenience Stores, and Direct Sales) - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2019 – 2027, at https://www.transparencymarketresearch.com/animal-feed-probiotics-market.html
Global Animal Feed Probiotics Market – Prominent Growth Factors
Rise in demand for variety of animal products such as meat, milk, eggs, and beef has led to the rise in the overall production of feed as well as consumption. This has directly helped the development of the animal feed probiotics market.
Changing consumers' dietary habit is expected to have a highly positive impact on the market development as they demand more animal-based products.
Increasing population across the globe will also have a positive impact on growth of the global market.
Increasing research and development activities for creating more effective and reliable animal feed probiotics to help in market growth.
Introduction of robust supply chain and technology in production to fuel market growth.
Global Animal Feed Probiotics Market – Prominent Growth Restraints
Probiotic supplements have known to have some side effects on consumers. This might lead to slowdown of the market.
Increasing trend of veganism could stop the market reaching its complete potential
Lack of awareness about benefits of using probiotics instead of antibiotic-feed may also slowdown market growth.
Global Animal Feed Probiotics Market – Geographical Outlook
Of the different regional segment, Europe is projected to be the most dominant region in the global animal feed probiotics market.
Improved standardization of meat and other animal based products is key for growth of Europe market.
Asia Pacific to show a promising rate of growth in coming years of the forecast period.
Increased consumption in emerging economies such as India, China, Indonesia, and Bangladesh are driving regional growth.
Analyze Animal Feed Probiotics market growth in 30+ countries including US, Canada, Germany, United Kingdom, France, Italy, Russia, Poland, Benelux, Nordic, China, Japan, India, and South Korea. Request a sample of the study.
Global Animal Feed Probiotics Market – Key Market Players
Some of the key companies in the global animal feed probiotics market are Koninklijke DSM N.V., Alltech, Inc., Chr. Hansen Holding A/S, E. I. du Pont de Nemours and Company, Evonik Industries AG, Adisseo France SAS, Lallemand Inc., Novus International, Inc., and Calpis Co., Ltd. among others.
The global animal feed probiotics market is segmented based on:
Rest of Europe
Middle East and Africa
Rest of Middle East and Africa
Australia and New Zealand
Rest of Asia Pacific
Rest of Latin America
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Probiotic Ingredients Market - Global probiotic ingredients is set to chart a decent CAGR of over 6% between 2019 and 2027, helping the market reach a worth of USD 7400 Mn by the end of the forecast period 2027.
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