As per a new Fact.MR analysis, the global animal feed probiotics market is anticipated to expand at a CAGR of 9.1%, increasing from its current value of US$ 5 billion to US$ 12 billion by the end of 2032.
With rising consumption of protein-rich diets across the globe, key players are improving the production of animal feed probiotics. Moreover, to prevent the outbreaks of cattle-based or poultry-based diseases, end users are increasing the adoption of these probiotics. This is resulting in increased research and development activities among leading players to capitalize on growing demand.
As per the study, animal feed probiotics help in maintaining a healthy gut and digestive tract. Consequently, livestock animals are frequently fed animal feed probiotics as vital ingredients. Bifidobacterium and lactobacillus are considered to be the two main sources used in the production of animal feed probiotics. However, rising awareness regarding the health benefits of yeast and fungi consumption will also boost the sales.
Additionally, increasing popularity of organic livestock and advancements in development of animal feed are also expected to drive demand for probiotics. Hence, key manufacturers are focusing on developing new probiotics due to their restrictive effect on digestive diseases.
However, the regulatory bodies such as the U.S. Food and Drug Administration have banned the usage of antibiotics as feed supplements for poultry and livestock animals. Hence, key players such as Evonik, Novozymes, Chr. Hansen, and others are focusing on developing high quality probiotics to gain revenue. On the back of these aforementioned factors, the demand in animal feed probiotics market is expected to surpass US$ 12 Billion by the end of 2032.
Key Takeaways:
- India is projected to remain at the forefront in in Asia Pacific animal feed probiotics market, generating revenues worth US$ 208.5 Million.
- The U.S. animal feed probiotics market is slated to expand at 4.8% CAGR during the forecast period.
- By form, the liquid segment is expected to generate maximum profits in animal feed probiotics market by 2032.
- In terms of source, the lactobacillus, streptococcus, and yeast categories are likely to account for lion’s share in the market.
- Based on animal, the poultry segment is expected to showcase an upward trajectory in the upcoming decade.
Growth Drivers:
- Rising prevalence of intestinal disorders among poultry and other livestock animals will improve the demand for animal feed probiotics.
- Growing focus on animal health to prevent animal-based disease outbreaks will aid the growth in animal feed probiotics market.
- Surging production of compound feed and consumption of animal-based products will spur the sales of animal feed probiotics.
Key Restraints:
- High research and development costs for the development of new and advanced probiotic strains might limit the sales in emerging economies.
- Presence of stringent international regulations and quality procedures for animal feed probiotics is likely to restrain the growth.
Competitive Landscape:
Leading players in the animal feed probiotics market are focusing on launching effective and innovative products to gain competitive edge. Some of the industry giants are forming alliances with mergers & acquisitions and product development related to livestock to generate maximum profits, especially across Europe and East & South Asia.
Meanwhile, other players are establishing strong distribution networks through manufacturing facilities across India, China, Japan, Kore, Germany, and other countries in Europe. They are also collaborating with end users to expand their brand presence.
For instance,
- In September 2022, BASF and Evonik, announced the partnership and entered into an agreement, granting Evonik non-exclusive rights to Opteinics™ to reduce the environmental footprints of the animal feeds probiotics industry by introducing digital ready-to-use sustainability platform.
- In 2021, Chr. Hansen announced the launch of Bovacillus™, an animal probiotic to support dairy and beef cattle health and performance. The company claims that this animal feed probiotic can also be used in a variety of feed applications.
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