Pune, India, Nov. 08, 2023 (GLOBE NEWSWIRE) -- According to the new research study titled "Poultry Probiotic Market Forecast to 2030 – COVID-19 Impact and Global Analysis – by Type, Application, and Geography," the market is expected to grow from US$ 117 million in 2022 to US$ 188 million by 2030; it is expected to record a CAGR of 6.5% from 2022 to 2030.
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Poultry Probiotic Market: Competition Landscape
ADM, Chr. Hansen Holding A/S, Adisseo, Alltech, Land O'Lakes, Inc., Lallemand Inc., DSM, IFF Nutrition and Biosciences, Kemin Industries, Inc. Dupont DE Nemours, Inc. are among the key players operating in the poultry probiotic market. These key players adopt product innovation strategies and invest in business expansions to meet growing consumers' demands, further driving the poultry probiotic market share.
Poultry probiotic manufacturers across the globe are investing significantly in strategic initiatives such as product innovation, mergers and acquisitions, and expansion of their businesses to attract large number of consumers and enhance their market position. To maintain their strategic position in the market, key players are investing significantly in quality enhancement of forage seeds. For instance, in May 2021, Evonik Industries developed a system solution for the gut health of poultry & swine, which includes a tailored combination of its feeding concepts, amino acids, probiotics, services, and consulting. Similarly, Evonik's Animal Nutrition business line has launched 'Ecobiol Fizz', the first probiotic for chicken in the form of effervescent tablet. The product contains a microbial strain of the species Bacillus amyloliquefaciens and are used to stabilize the intestinal microbiota of chickens and broilers reared for laying, especially during stressful periods. Such product innovation by key players helps to create a strong foothold in the poultry probiotic market.
The poultry probiotic market in the globe is flourishing owing to the increased export of chicken-based meat. Agriculture and livestock are the major backbone of the global economy. Thus, the demand for feed additives is high among animal feed industries. Key market players in the market are expanding their presence in many countries in order to cater to the increasing demand. GalliPro Fit is the trademark for Chr. Hansen's first probiotic to combine three unique strains in one product. GalliPro Fit was first successfully launched in the US in 2017, followed by Australia in 2018 and the South African and Asian markets in 2019. Moreover, in January 2021, the European Commission approved GalliPro Fit probiotics for sale in the European Union (EU). Such business expansion strategies by major manufacturers are expected to drive the poultry probiotic market growth in the forecast period.
The poultry probiotic market in North America is growing significantly with well-established animal feed industry and large number of poultry animal present across the region. Thus, to fulfill the nutritional requirement of poultry animals the demand for probiotics is high among poultry feed manufacturers. Prominent players in the region are launching various probiotic ingredients to cater to the increasing demand. For instance, in July 2022, Kemin Industries – a US based company has launched ‘Enterosure probiotic products’ to control the pathogenic bacteria growth in poultry animals. Such innovations in the region further expected to drive the poultry probiotic market growth in the region.
The report segments the poultry probiotic market as follows:
The poultry probiotic market is segmented on the basis of type, application, geography. Based on type, the market is segmented into Lactobacillus, Bifidobacterium, Saccharomyces, Streptococcus, and Others. Based on application, the market is categorized into chicken, turkey, and others. By geography, the market is primarily segmented into North America, Europe, Asia Pacific (APAC), the Middle East & Africa (MEA), and South & Central America (SAM). The poultry probiotic market in North America is further segmented into the US, Canada, and Mexico. The European market is subsegmented into Germany, France, the UK, Italy, Russia, and the Rest of Europe. The poultry probiotic market in Asia Pacific is further segmented into China, India, Japan, Australia, South Korea, and the Rest of Asia Pacific. The market in the MEA is further segmented into South Africa, Saudi Arabia, the UAE, and the Rest of MEA. The poultry probiotic market in South & Central America market is categorized into Brazil, Argentina, and the Rest of South & Central America.
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Impact of COVID-19 Pandemic on Poultry Probiotic Market
The bans imposed by various governments in Europe, North America, and Asia Pacific on international travel forced the companies to temporarily put their collaboration and partnership plans on hold. During the starting phase of the COVID-19 pandemic, the implementation of lockdown restrictions and shutdown of manufacturing units led to a production shortfall, which created a demand and supply gap. These factors hampered the profitability animal feed industry in 2020 and early 2021, thereby hampering the growth of the poultry probiotic market.
However, in 2021, as the governments announced relaxation in the previously imposed restrictions thus, various economies resumed their operations, which boosted the global marketplace. Moreover, manufacturers were allowed to operate at full capacity, which ultimately helped them overcome the demand and supply gap caused in COVID-19 outbreak and other repercussions. As consumers in various countries were fully vaccinated by 2021, the probiotic manufacturers focused on increasing their production to revive their businesses.
Go through further research published by The Insight Partners: (Purchase with 10% Instant Discount):
Poultry Feed Market Forecast to 2028 - COVID-19 Impact and Global Analysis
Poultry Feed Supplements Market Size and Forecasts (2020 - 2030)
Probiotic Ingredients Market Forecast to 2028 - COVID-19 Impact and Global Analysis
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