Selbyville, Delaware, Nov. 15, 2022 (GLOBE NEWSWIRE) -- According to a new research report by Global Market Insights Inc., the global animal feed probiotics market is projected to be valued at USD 390 million by 2030. The rising popularity of high-protein diets is one of the prominent factors driving probiotics animal feed additives demand.
With the growing intake of meat and meat products, the production of compound feed is slated to rise, especially in developed nations. Based on data from the USDA, in 2021, nearly 12.7 million tons of beef were produced in the U.S., indicating a 3% rise from 2020 and the highest level in recent years. These factors will boost the addition of nutritive ingredients, including probiotics, in animal feed to improve the health and meat quality of the livestock.
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The production of poultry meat has also surged significantly in Europe. As per statistics from Eurostat, in 2020, the European Union produced nearly 13.6 million tons of poultry meat, over 2.3% more than in 2019. Furthermore, the burgeoning demand for antibiotics-free poultry will encourage the use of probiotics in poultry feed, to improve gut histomorphology, immunity, growth, and laying performance.
Animal feed probiotics market value from the bacillus product segment is set to depict a 9% CAGR through 2030. This is on account of the capability of bacillus to improve the survival, growth, and health status of aquatic and terrestrial animals. The consumption of aquatic animals as a protein source is becoming increasingly popular worldwide. To address the subsequent rise in consumer demand, the production of these animals is required to double by 2050. This factor will, in turn, proliferate the addition of aquaculture probiotic ingredients including bacillus in aquaculture feeds.
Animal feed probiotics market cattle livestock segment is anticipated to reach over USD 80 million by 2030, owing to the growing requirement for nutritious milk and other dairy products. As per the International Dairy Deli Bakery Association report, in June 2022, dairy category sales reached almost USD 5.1 billion in total, showcasing a 16.3% increase Y-o-Y. Since cattle require a proper diet to increase their productivity and deliver high-quality milk, farmers are likely to become more inclined to add essential ingredients such as probiotics in their animal feeds.
Browse key industry insights spread across 186 pages with 215 market data tables and 24 figures & charts from the report “Animal Feed Probiotics Market Statistics by Product (Lactobacilli, Bifidobacterium, Streptococcus, Bacillus) Livestock (Poultry {Broiler, Layer, Turkey}, Swine {Starter, Grower, Sow}, Cattle {Dairy, Calf}, Aquaculture {Salmon, Trout, Shrimp, Carp}, Pet food {Cat, Dog}, Equine) COVID-19 Impact Analysis, Regional Outlook, Growth Potential, Competitive Market Share & Forecast, 2022 – 2030”, in detail along with the table of contents:
https://www.gminsights.com/industry-analysis/animal-feed-probiotics-market
Latin American animal feed probiotics industry is projected to register over 5% CAGR through 2022-2030. The increasing number of cattle and the rise in pet adoption during the COVID-19 lockdown are prominent factors bolstering the requirement for nutritious animal feed products.
The competitive landscape of the animal feed probiotics market comprises companies such as Novus International, Inc., ADM, DuPont, Koninklijke DSM N.V., Evonik Industries, OHLY, Kemin Industries Inc, CHR. HANSEN, and Provita Eurotech Ltd., among others. These market players are focusing on business expansions and facility development strategies to boost their presence in the global industry.
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For instance, in November 2021, ADM launched an animal nutrition research and development laboratory in Switzerland. The new facility was aimed at developing feed additives for use in aquaculture, pet food, and livestock applications, and to enable the company to establish a strong presence in the market.
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Global Market Insights Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider, offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy, and biotechnology.
