Apr 23, 2020
Stable Demand Anticipated in the Animal Feed Probiotics Market, Covid-19 to Marginally Dampen Sales, Projects Fact.MR
by Team Fact.MR
In Europe, the present situation amid covid-19 has impacted many commodity markets. However, some key players of animal feed probiotics like, Evonik Nutrition has been focusing on managing feed supplies in spite of outbreak. Moreover, the animal feed probiotics sales are expected to grow at a CAGR of nearly 6% during the forecast period owing to sustainable strategies to overcome hurdles in such market conditions. Sovereign bodies are also supporting companies to continue production of animal feed probiotics through sustainable channels and rules.
Demand for Animal Feed Probiotics Will Rise Owing To Surge in Demand from Livestock
The animal feed probiotics market is anticipated to accumulate a value pool of over US$ 5 billion, growing at a CAGR of over 6%. The general ban on the use of antibiotics has been the major growth factor forwarding the animal feed probiotics market. In many regions poultry feed has generated significant demand for the consumption of animal feed probiotics. In 2020, in spite of the global pandemic ravaging industries, the market in Europe is expected to remain stable.
Key takeaways of Animal feed Probiotics
- At present Europe, including CIS & Russia, accounts for nearly 1/3rd of the global animal feed probiotic demand. However, demand from emerging regions like APEJ will grow at a CAGR of nearly 6%
- The market demand for bacterial animal feed probiotics is poised to grow 2X during 2020-2030, owing to the rise in demand for feed products for livestock due to emerging demand for meat.
- Liquid animal feed probiotics shall generate an absolute $ opportunity of $1.5 Bn during the forecast period. However, dry form of animal feed probiotics market will grow by nearly 2X during the period.
- Product distribution through online stores is expected to grow at a CAGR of nearly 5% by 2030. However, modern trade will maintain its dominance in the market by the end of 2030.
- Market demand for bacterial animal feed probiotics will be nearly 6% during the forecasted period. However, the market for dry feed is expected to grow 2X by 2030.
“The growing bioavailability of micronutrients is paving the way for animal feed micronutrients market to experience prominent gains and create lucrative roadmaps during the forecast period” says a Fact.MR analyst
Emerging Players are Presently Focusing on Commercialization
Key players like Alltech Inc., Koninklijke DSM N.V and E. I. du Pont de Nemours and company account for nearly two-fifths of the revenue generation. Key players are majorly focusing on research and development of new products. However, Tier 2 players have a fragmented market by focusing on strategy of expansion and collaboration. For example, in April 2020, Adisseo in collaboration with Novozymes has been focusing on developing Alterion technology to visualize germination to prove bacillus-based probiotic product is effective for poultry.
Find More Valuable Insights on Stuffed and Global Animal Feed Probiotics Market
Fact.MR, in its new offering, brings to fore an unbiased analysis of the global animal feed probiotics market, presenting historical demand data of 2020 and forecast statistics for the period, 2020-2030. The study divulges compelling insights on the global animal feed probiotics on the basis of source (bacteria and non-bacteria) animal types (companion animals and livestock like, cattle poultry, equine, swine, and aquaculture) form (liquid and dry) sales channel (modern trade, specialty stores, online retailers, convenience stores and direct sales) across 7 major regions.
>>> To Get more insights on animal feed probiotics market, visit- https://www.factmr.com/report/2891/animal-feed-probiotics-market
About the Food & Beverages Division at Fact.MR
Expert analysis, actionable insights, and strategic recommendations, the food & beverage team at Fact.MR helps clients from all over the globe with their unique business intelligence needs. With a repertoire of over 1,000 reports and 1 million plus data points, the team has analyzed the food & beverage industry lucidly in 50+ countries for over a decade. The team provides end-to-end research and consulting services; reach out to explore how we can help.