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Probiotics in Animal Feed Market Worth $7.3 Billion by 2026 - Exclusive Report by MarketsandMarkets

Chicago, Illinois--(Newsfile Corp. - October 20, 2021) - According to the research report, "Probiotics in Animal Feed Market by Livestock (Poultry, Ruminants, Swine, Aquaculture, Pets), Source (Bacteria, Yeast), Form (Dry, Liquid), and Region (North America, Europe, Asia Pacific, South America, & Rest of World) - Global Forecast to 2026", the global probiotics in animal feed market was valued at USD 4.4 billion in 2020. It is estimated to reach about USD 4.8 billion in 2021 and is projected to grow at a CAGR of 8.8%, to reach USD 7.3 billion by 2026. The growing awareness about meat and dairy products, health concerns related to livestock, and rising industrialization of animal-processed products are the major factors driving the probiotics in animal feed market. With the imposition of regulations by government agencies on the use of antibiotics, the demand for probiotics for animal feed is projected to remain high.

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The poultry segment is projected to be the largest revenue contributor in the probiotics in animal feed market during the forecast period.

The poultry segment is accounted to hold the largest share of the probiotics in animal feed market in 2020. Probiotics help improve the efficiency of feed and enhance the feed intake among poultry. Probiotics are particularly important at a relatively young age for poultry as they help in stabilizing the intestinal bacteria, which are usually not present in chickens. These factors are contributing to the growth of probiotics in poultry segment.

Based on livestock, the aquaculture segment is projected to grow at the highest CAGR through 2026, making it a key revenue pocket for probiotics in animal feed market players. Probiotics plays a vital role in maintaining the gastrointestinal microflora of aquatic organisms. The excessive use of antibiotics to prevent diseases on crops within aquaculture leads to the need for probiotics to be administered to the aquatic species to decrease the after-effects caused by antibiotic residues.

The Asia Pacific accounted for the largest market share for probiotics in animal feed in 2020, due to the rapid urbanization and rise in consumer interests in health products. The rise in disposable income and population growth in the Asia Pacific have led to a rise in the meat consumption rate over the forecast period, thereby increasing the demand for probiotics in livestock production. Major countries contributing significantly toward the growth of the Asia Pacific region include China, Japan, South Korea, and Australia & New Zealand.

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Based on form, the dry form segment was the fastest-growing from 2021 to 2026. Dry probiotics are largely used in the animal feed industry mainly because they make the feed palatable and increase its consumption among animals, which helps in reducing feed wastage and labor requirements. Cattle often consume dry tropical grasses, which have high fiber content but are poor in taste and have less nutritive values. Due to these factors, various types of dry specialty feed additives such as bacteria and yeast are used in feed.

Some of the Major Points considered in the Report.

• Assumptions based on the COVID-19 impact have been included in the Research Methodology (RM) analysis section in the report.
• The forecasted years considered in the report are 2021 to 2026. The impact of COVID-19 outbreak analysis between 2020 and 2021 has been included in the report.
• The new study also provides historical data for the market from 2016 to 2020.
• Addition/Refinement in the market overview: Newer market-related drivers, restraints, and opportunities have been added to provide an in-depth overview of the market. Additional validated data give better insights into current and future trends in the market. An additional segment on the COVID-19 impact on market dynamics has also been provided.
• Newly introduced industry trends chapter: Value chain analysis, technology analysis, pricing analysis, market ecosystem, YC-YCC shift, porter's five forces analysis, and case study analysis have been included in the study.
• The new edition of the report also provides insights on the impact of the COVID-19 on the probiotics in animal feed market, along with its effect on different regional markets.
• In premium insights segment, COVID-19 impact analysis has been presented through infographics to showcase the severity of the pandemic.• Refinement of market size with respect to livestock, source, form and function has been provided based on the COVID-19 impact globally.

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• In the new edition of the report, additional companies were profiled, and few companies were replaced such as:

  • Kemin Industries, Inc.
  • Provita Eurotech Ltd
  • Advance aqua bio technologies
  • Sanzyme Biologics
  • AgriHealth

• Company financials and product portfolios have been updated in the company profiles section for 2020/2021.
• Companies' recent developments have been updated in the report. The 'MNM View'' section in the company profiles has been updated based on the COVID-19 impact analysis.
• The company evaluation quadrant for animal-based probiotic manufacturers has been updated (with respect to 25 companies) according to the latest company developments. Key player strategies, market share analysis and revenue analysis of the top four market players have been included. The COVID-19-specific company response has also been added.
• Adjacent markets for the probiotics in animal feed market have also been provided.

Related Reports:

Probiotics Market by Application (Functional Food & Beverages (Dairy Products, Non-dairy Beverages, Infant Formula, Cereals), Dietary Supplements, Feed), Ingredient (Bacteria, Yeast), Form (Dry, Liquid), End User, & Region - Global Forecast to 2026
https://www.marketsandmarkets.com/Market-Reports/probiotic-market-advanced-technologies-and-global-market-69.html

Medicated Feed Additives Market by Type (Antioxidants, Antibiotics, Probiotics & Prebiotics, Enzymes, Amino Acids), Livestock (Ruminants, Poultry, Swine, Aquaculture), Mixture Type, Category, and Region - Global Forecast to 2022
https://www.marketsandmarkets.com/Market-Reports/medicated-feed-additive-market-186173723.html

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