Probiotics in Animal Feed Market is expected to garner a revenue of USD 427.3 Million by 2027 and register a CAGR of 8.63% during the forecast period of 2020 to 2027.
The market is expected to register impressive growth during the forecast period owing to the increasing demand for animal-based products such as eggs, milk, meat, and wool. A shift in the livestock industry from the unorganized sector to the organized one, due to the increasing demand for animal-based products and technological developments in the livestock industry, is expected to create growth opportunities for the players active in the animal feed probiotics market. Additionally, rising concerns regarding animal health and awareness about the benefits of probiotics in animal nutrition are contributing to the growth of the market. However, the market is facing hurdles in its growth due to the implementation of stringent norms and quality standards regarding the use of probiotics in animal nutrition.
The global probiotics in animal feed market has been segmented based on source, form, livestock, and region.
By source, the global market has been classified as bacteria and yeast and fungi. The bacteria segment has further been segregated into Streptococcus, Lactobacillus, Bifidobacterium, and others.
Based on form, the global market has been classified as dry and liquid.
The global market has also been segregated, based on livestock, into swine, poultry, ruminants, aquaculture, and others.
The global market has been studied about four key regions—North America, Europe, Asia-Pacific, and the rest of the world.
The North American probiotics in animal feed market has further been segmented into the US, Canada, and Mexico.
The European probiotics in animal feed industry has been classified as the UK, Germany, France, Italy, Spain, and the rest of Europe.
The probiotics in animal feed industry in Asia-Pacific has been divided into China, India, Japan, Australia and New Zealand, and the rest of Asia-Pacific.
The probiotics in animal feed market in the rest of the world has been segmented into South America, the Middle East, and Africa.
Regional Market Summary
The market in Asia-Pacific is projected to account for the lion’s share of the global probiotics in animal feed market and is expected to register the highest CAGR during the forecast period. The major countries contributing to the growth of the regional market are India, China, Indonesia, and Vietnam. Moreover, increasing awareness among livestock growers regarding the benefits of using probiotics for livestock is also boosting the demand for animal probiotics feed additives in Asia-Pacific.
Probiotics in Animal Feed Market, by Source
Probiotics in Animal Feed Market, by Form
Probiotics in Animal Feed Market, by Livestock
Probiotics in Animal Feed Market, by region
Frequently Asked Questions (FAQ) :
Probiotics in animal feed market is projected to grow at approximately 7.5% CAGR during the assessment period (2019-2024).
Probiotics in animal feed market is estimated to reach a valuation of approx. USD 6.5 BN by the end of 2024.
Based on source, the bacteria segment, based on form, the dry segment and based on livestock, the poultry segment holds the major share the global probiotics in animal feed market.
Asia Pacific holds the largest share in the global Probiotics in animal feed market, followed by North America and Europe, respectively.
Bluestar Adisseo Co., Ltd. (China), DuPont de Nemours, Inc. (US), Kerry Group (Ireland), Unique Biotech (India), Land O'Lakes, Inc. (US), Evonik Industries AG (Germany), Pure Cultures (US), Koninklijke DSM N.V. (Netherlands), Alltech (US), Chr. Hansen Holding A/S (Denmark), Lallemand Inc. (Canada), Novozymes (Denmark), Novus International, Inc. (US), Schouw & Co. (Denmark), and Lesaffre (France), are some of the top players operating in the global Probiotics in animal feed market.