Flourishing Livestock & Companion Animal Industry Catalyzing Demand for Animal Feed Probiotics, Opines Fact.MR
Published : 12 Apr 2021 Industry: Food & Beverage
Probiotics are sourced from bacteria such as enterococcus, lactobacillus, pediococcus, and bacillus, and non-bacteria yeast and fungi. These are given to animals to improve the gut, digestion, and overall health. Growing consumption of meat and dairy products has led to tremendous demand for animal feed probiotics in recent years.
Rise in human population has propelled demand for livestock and the need for additional supplements in the diet for companion as well as livestock animals for appropriate nutrition, owing to which, production and consumption of animal feed probiotics has been amplified.
Analyzing consumer spending behavior, increase in disposable income, consciousness towards health and food, and other key factors will strengthen demand for animal feed probiotics over the coming years, which will generate a billion dollar opportunity for new as well as existing market players.
As per Fact.MR’s analysis, the global animal feed probiotics market is set to expand at a healthy CAGR of close to 7% over the forecast period of 2021 to 2031.
Key Takeaways from Market Study
- The global animal feed probiotics market is anticipated to add 2X value by 2031 as compared to 2021.
- Lactobacillus bacteria captures a governing share of the market, and is set to create over a billion dollar opportunity over the long-term forecast period.
- Companion animals is the fastest growing segment and will acquire nearly one-sixth market share by 2031.
- APEJ is set to dominate market revenue in 2021, and is expected to gain 327 BPS in its market share by 2031.
- Modern trade is anticipated to lose around 272 BPS over the forecast period of 2021-2031.
- China, India, Germany, and the United States of America are key countries dominating demand for animal feed probiotic products.
“Demand for animal feed probiotics is set to grow in accordance with regional policies and livestock animal industry tunes,”says a Fact.MR analyst.
Fragmented High Potential Market: Competition Tuning Factor
Key manufacturers of animal feed probiotics are Adisseo France SAS, Calpis Co., Ltd., Chr. Hansen Holding A/S, DuPont Company, Evonik Industries AG, Nestle SA, Novus International, Inc., Koninklijke DSM N.V., Lallemand Inc., Alltech, Inc., Lesaffre et Compagnie SA, Kerry Group plc, and Pure Cultures LLC. The market is fragmented in nature, and most of the big players are positioned in Asia Pacific and Europe.
Growing demand for animal feed probiotics has allowed the market valuation to grow rapidly in the past half-decade. Despite market fragmentation, higher potential of the product will attract new players into the market over the coming years.
More Valuable Insights
Fact.MR, in its new offering, presents an unbiased analysis of the global animal feed probiotics market, presenting historical demand data (2016-2020) and forecast statistics for 2021-2031. The study divulges essential insights on the market based on animal feed probiotics products source under bacteria [bifidobacterium, enterococcus, lactobacillus, pediococcus, bacillus, propionibacterium, streptococcus, and others] and under non-bacteria [yeast and fungal]), animal (companion animals, livestock [poultry, cattle, swine, aquaculture, and other animals]), form (liquid and dry), and sales channel (modern trade, specialty stores, online retailers, convenience stores, and direct sales), across major regions of the world (North America, Latin America, Europe, Asia Pacific, and the Rest of the World).
About the Food & Beverages Division at Fact.MR
Expert analysis, actionable insights, and strategic recommendations of the highly seasoned food & beverage team at Fact.MR helps clients from across the globe with their unique business intelligence needs. With a repertoire of over a thousand reports and 1 million-plus data points, the team has analyzed the food & beverage industry across 50+ countries for over a decade. The team provides unmatched end-to-end research and consulting services. Reach out to explore how we can help.
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Sr. Consultant - Food & Beverages