The report “Probiotics in Animal Feed Market by Livestock (Poultry, Ruminants, Swine, Aquaculture, Pets), Source (Bacteria [Lactobacilli, Streptococcus Thermophilus, Bifidobacteria] and Yeast & Fungi), Form (Dry and Liquid), and Region – Global Forecast to 2025″ The global probiotics in animal feed market is estimated to be valued at USD 4.6 billion in 2019 and is projected to reach about USD 7.0 billion by 2025, at a CAGR of 7.4%. The growth of this market is attributed to the rise in demand for functional animal feed products in emerging economies such as Asia Pacific and RoW.
- To define, segment, and project the global market size of the probiotics in animal feed market
- To understand the probiotics in animal feed market by identifying its various subsegments
- To provide detailed information about the key factors influencing the growth of the market (drivers, restraints, opportunities, and industry-specific challenges)
- To analyze the micromarkets with respect to individual growth trends, future prospects, and their contribution to the total market
- To profile key players and comprehensively analyze their core competencies
- To understand the competitive landscape and identify major growth strategies adopted by players across key regions
- To analyze the competitive developments such as expansions & investments, mergers & acquisitions, new product launches, partnerships, joint ventures, and agreements
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By livestock, the poultry segment is projected to dominate the probiotics in animal feed market during the forecast period.
By livestock, the probiotics in animal feed market is subsegmented into poultry, swine, ruminants, aquaculture, pets, and others. The poultry segment is projected to dominate the probiotics in animal feed market during the forecast period. The Asia Pacific region is expected to be a major revenue pocket in the coming years. The region is backed by a large population base with an increase in a number of urbanized population opting for protein-rich food options with poultry products such as eggs and meat. This is expected to increase the demand for probiotics in the poultry industry.
By source, the bacteria segment is projected to dominate the probiotics in animal feed market during the forecast period.
Bacteria strains such as lactobacilli, bifidobacteria, and Streptococcus thermophilus are used in the animal feed industry, owing to its health benefits such as the promotion of gut health and increased productivity, immunity, and overall performance of the animals. Several companies and research organizations are performing R & D to develop these strains for both animal and human consumption.
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The increased demand for poultry products in countries such as China and India is expected to drive the market for probiotics in animal feed in Asia Pacific.
The Asia Pacific region is backed by major revenue generating countries; China and India. These countries are backed by a large population base, coupled with the rise in the number of the middle-class population who are opting for food products with health benefits, owing to the adaption of an urbanized lifestyle. This has increased the demand for poultry products in the region, which has, in turn, been driving the growth of probiotics in the region.
Key Market Players:
The key players identified in this market include Chr. Hansen (Denmark), Koninklijke DSM N.V. (Netherlands), DowDuPont (US), Evonik Industries (Germany), Land O’Lakes (US). Major players in this market are focusing on increasing their presence through expansions & investments, mergers & acquisitions, and agreements. These companies have a strong presence in North America and Europe.