NEWARK, Del, May 18, 2023 (GLOBE NEWSWIRE) -- The animal feed probiotics market is estimated to be worth US$ 3,594 million in 2023, with revenue from sales reaching US$ 6,784.3 million by 2033. The demand for animal feed probiotics is increasing at a CAGR of 7% over the forecast period.
The growing demand for animal protein and the ensuing rise in meat consumption are two major forces propelling the animal feed probiotics industry. The industry is expanding as a result of rising consumer awareness of the use of probiotics in animal feed. Improving animal health and decreasing antibiotic usage in animal feed are two factors behind the rising need for probiotics in animal feed.
The high cost of research and development and the lack of knowledge among livestock producers are two of the biggest challenges facing the development of this industry. Furthermore, corporations have challenges when introducing new items to the market due to regulatory impediments and the necessity for permission from many agencies.
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There are several expansion prospects for the probiotics industry in animal feed. This industry should expand thanks to the rising demand for organic and all-natural feed for animals. The use of probiotics in aquaculture is also on the rise because of the positive effects it may have on the health of aquatic animals and the reduction of antibiotic usage. In addition, there is a sizable expansion possibility for businesses in this industry due to the rising demand for animal feed probiotics in emerging nations.
Several changes are occurring in the animal feed probiotics industry. One such movement is the creation of probiotic supplements designed for individual animals. Microencapsulation and other cutting-edge technologies are increasingly being used to enhance the stability and performance of probiotics in animal feed. The need for probiotics in animal feed is projected to be bolstered by the industry's transition toward sustainable and ecologically friendly animal feed manufacturing.
Key Takeaways from the Animal Feed Probiotics Market:
- During the forecast period, the United States animal feed probiotics industry is expected to account for 25.6% of the market.
- According to the research, the Philippines' animal feed probiotics industry is expected to be worth US$ 160.6 million in 2023.
- According to FMI, India's animal feed probiotics industry is expected to grow at a CAGR of 9.5% throughout the predicted period.
- According to FMI, China's animal feed probiotics industry is expected to develop at an 8.9% CAGR from 2023 to 2033.
- Bacteria are the most dominant segment in the animal feed probiotics industry, accounting for 69.70% of the market in 2023.
- In the animal feed probiotics industry, modern trade is the dominant sales channel, accounting for 23% of the market in 2023.
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How are Key Players Revolutionizing the Industry?
The animal feed probiotics industry is highly competitive, with several players operating globally. The market is characterized by the presence of both established as well as emerging players. The key players in the market are engaged in strategic partnerships, collaborations, and mergers and acquisitions to expand their market presence.
The top players in the animal feed probiotics industry include
- Chr. Hansen A/S
- Koninklijke DSM N.V.
- Lallemand Inc.
- DuPont de Nemours, Inc.
- Novozymes A/S
- Calpis Co., Ltd.
- Lesaffre et Compagnie
- Neospark Drugs and Chemicals Private Limited
- Novus International, Inc.
- Provita Eurotech Ltd.
These companies are investing heavily in research and development activities to introduce new products and improve the existing ones. They are also expanding their geographical presence by entering into untapped markets through various strategic initiatives. Additionally, they are also focusing on developing sustainable and eco-friendly products to meet the growing demand for natural and organic animal feed probiotics.
The competition in the animal feed probiotics industry is intense, with companies competing based on product quality, innovation, pricing, and brand value. The market is expected to witness consolidation in the coming years, with several small and medium-sized companies being acquired by larger players to strengthen their market position.
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Key Segmentation:
By Source:
- Bacteria
- Non-Bacteria
By Animal:
- Companion Animal
- Livestock
- Equine
- Swine
- Aquaculture
By Form:
- Liquid
- Dry
By Sales Channel:
- Modern Trade
- Direct Sales
By Region:
- North America
- Latin America
- Europe
- East Asia
- South Asia
- Oceania
- Middle East & Africa
Table of Content (ToC):
1. Executive Summary
1.1. Global Market Outlook
1.2. Demand-side Trends
1.3. Supply-side Trends
1.4. Technology Roadmap Analysis
1.5. Analysis and Recommendations
2. Market Overview
2.1. Market Coverage / Taxonomy
2.2. Market Definition / Scope / Limitations
3. Market Background
3.1. Market Dynamics
3.1.1. Drivers
3.1.2. Restraints
3.1.3. Opportunity
3.1.4. Trends
4. Global Market Analysis 2018 to 2022 and Forecast, 2023 to 2033
4.1. Historical Market Size Value (US$ Million) & Volume (Tons) Analysis, 2018 to 2022
4.2. Current and Future Market Size Value (US$ Million) & Volume (Tons) Projections, 2023 to 2033
4.2.1. Y-o-Y Growth Trend Analysis
4.2.2. Absolute $ Opportunity Analysis
5. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Source
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Explore FMI’s related ongoing Coverage in Food and Beverage Domain:
Animal Feed Ingredients Market Size: The global animal feed ingredients market recorded year-on-year (YoY) growth of 3.1% and is accounted for USD ~38.8 Bn in 2021. The market is expected to exhibit a CAGR of ~3.0% to reach the value of USD ~58.6 Bn in 2032.
Vegan Probiotics Market Share: The global vegan probiotics market is expected to reach a valuation of US$ 5.1 Billion by the end of 2022. It is anticipated to accelerate with a CAGR of 8.8% from 2022 to 2032. The vegan probiotics market is set to be valued at US$ 11.8 Billion in 2032.
Multistrain Probiotics Market Trends: The global multistrain probiotics market is forecasted to be valued at US$ 156.25 billion by 2032, up from US$ 66 billion in 2022, advancing at a CAGR of 9% from 2022 to 2032.
D-Lactate Free Probiotics Market Growth: The global D-lactate-free probiotics market size is expected to reach US$ 84.92 Billion in 2032. The D-lactate-free probiotics market is growing rapidly.
Animal Feed Additives Market Forecast: The animal feed additives market totaled US$ 16.36 Bn in 2021, as per the latest market survey by ESOMAR-certified consulting firm Future Market Insights (FMI). Overall animal feed additives demand is anticipated to grow at a steady pace, exhibiting a 2.70% CAGR through 2031.
Animal Feeds Microalgae Market Types: The demand for microalgae in the animal feed sector totalled US$ 57.54 Mn in 2021, according to the latest insights by Future Market Insights (FMI). Exhibiting a CAGR of 3.5% for 2021-31, the market is expected to reach US$ 80.96 Mn by 2031.
Animal Feed Alternative Protein Market Analysis: The global animal feed alternative protein market is expected to be valued at US$ 3.96 Billion in 2023 and will grow at a CAGR of 7.5%. Due to the increased number of cattle diseases, epidemics, and animal nutrition value, alternative protein consumption is becoming increasingly important, alternative protein consumption will increase to US$ 8.2 Billion by 2033, representing approximately 7.5% of the global market.
Animal Feed Antioxidants Market Outlook: The animal feed antioxidants market is estimated to be around USD 323.61 Million in 2023 and is anticipated to grow to USD 1056.48 Million by 2033, with a CAGR of 12.56% from 2023 to 2033.
Nutritional Ingredients in Animal Feed Market Overview: The global nutritional ingredients in the animal feed market are expected to reach a market valuation of USD 93.2 Bn by the year 2022, accelerating with a CAGR of 7.1% by 2022-2032.
Fish Feed Market Demand: The fish feed market is estimated to account for about USD 112 billion in 2022 and is projected to reach a value of about USD 158.5 billion by 2032, at a CAGR of 8.0%.
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Future Market Insights, Inc. (ESOMAR certified, Stevie Award - recipient market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10 years.
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