Probiotics
in Animal Feed Market Highlights
The global
probiotics in animal feed market is expected to garner a revenue of USD 0.4
billion by 2030 and register a CAGR of 8.6% during the forecast period of 2023
to 2030. The microbial strains used in animal feed for promoting animal growth,
yield, productivity, immunity, and gut health are known as probiotics in animal
feed. The most common microbial strains used as probiotics for livestock are
bacteria, yeast, and fungi. Manufactures are witnessing challenges in their
growth in the global probiotics in animal feed market due to the rising initial
investment, especially in research and development that is involved in the
improvement of efficient and viable animal probiotic feed additives. However, prominent
players active in the animal feed probiotics market are focusing on different
growth strategies such as mergers & acquisitions, innovations, product
launches, and joint ventures to overcome the challenges and attain larger
market share.
The global probiotics
in animal feed market has been
segmented based on source, form, and livestock.
Based on
source, the global probiotics in animal feed market has been segmented into
bacteria and yeast and fungi. The bacteria segment has been further segregated
into Streptococcus, Lactobacillus, Bifidobacterium, and others. The bacteria
segment is projected to account for the larger revenue share and register the
higher CAGR during the forecast period as bacterial probiotic strains are
highly capable of increasing immunity, yield, productivity, and gut health in
animals. Additionally, bacterial strains offer higher survival rate in animal
gut as compared to yeast and fungi probiotic strains, owing to which bacteria
is preferred as a probiotic in animal nutrition.
The global
probiotics in animal feed market has been segregated, by form, into dry and
liquid. The dry segment is expected to garner a larger revenue share of the
global probiotics in animal feed market as the dry probiotics in animal feed
offer low storage cost, ease in transportation, and higher shelf-life. The low
or negligible moisture content in dry probiotics render them fit for use in
animal feed as it helps in increasing shelf life of animal feed as well. Thus,
the same segment is expected to register a higher growth rate during the
forecast period of 2023 to 2030.
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Based on
livestock, the global probiotics in animal feed market has been segmented into
swine, poultry, ruminants, aquaculture, and others. The poultry segment is
expected to gain the largest revenue share of the global probiotics in animal
feed market and is expected to maintain its dominance during the forecast
period owing to the high demand for protein-rich products such as eggs and
poultry meat. However, the aquaculture segment is projected to register the
highest CAGR during the forecast period due to the increasing demand for
animal-based dietary protein and rising focus on market players in developing
products for complete growth and development of aquaculture animals.
Key Players
Some of the
key players in the global probiotics in animal feed market are DuPont de
Nemours, Inc. (US), Kerry Group (Ireland), Bluestar Adisseo Co., Ltd. (China),
Evonik Industries AG (Germany), Land O’Lakes, Inc. (US), Pure Cultures (US),
Alltech (US), Lallemand Inc. (Canada), Novus International, Inc. (US),
Koninklijke DSM N.V. (Netherlands), Chr. Hansen Holding A/S (Denmark), Schouw
& Co. (Denmark), Lesaffre (France), Unique Biotech (India), and Novozymes
(Denmark).
Regional
Analysis
The global
probiotics in animal feed market has been segmented, by region, into North
America, Europe, Asia-Pacific, and the rest of the world.
The market
in Asia-Pacific is expected to account for the largest market share and
register the highest CAGR of the global probiotics in animal feed market due to
the increasing consumption of poultry products in the region. Additionally, the
growth of the region can be attributed to the presence of large number of
livestock in the developing economies of Asia-Pacific including China, India,
Bangladesh, Vietnam, and Indonesia.
Some of the
strategies followed by the players operating in the market were innovations,
product launches, mergers, acquisitions, and joint ventures.
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Key
Developments
- In
Novemeber 2021,
Evonik Industries AG entered into a strategic cooperation with Vland
Biotech Group by signing a memorandum of understanding (MoU). The
strategic cooperation was signed with an aim to develop new probiotics for
animal health and enzymes for industrial use.
- In
Novemeber 2021,
Lesaffre launched a new generation of its live Saccharomyces cerevisiae
probiotic, ActiSaf Sc 47 HR+. It has high resistance against extreme
conditions which probiotics and other feed ingredients are subjected to
while pelleting.
- In
January 2022,
Evonik Industries AG launched a new probiotic product GutCare PY1 in
China, India, Bangladesh, and the US to garner a larger share of the
markets of the countries mentioned.
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