Pune, India., Dec. 06, 2023 (GLOBE NEWSWIRE) — The global probiotics in animal feed market are likely to benefit from the increasing awareness regarding animal health welfare. According to a report published by Fortune Business Insights™, titled “Probiotics in Animal Feed: Global Market Analysis, Insights, and Forecast, 2023-2026,” the market was valued at US$ 3.56 Bn in 2018. Fortune Business Insights has predicted that the market will reach US$ 6.24 Bn by 2026, thereby exhibiting a CAGR of 7.30%.
The benefits of probiotics in animal nutrition have created a high demand for these products across the world. The growing emphasis on animal health and welfare and increasing trend of commercial livestock farming have led to the availability of new products in the marketplace. The growing focus on research and development in probiotics to substitute antibiotic growth promoter feed additives has led to the increasing popularity of probiotics in animal feed. The use of probiotics in poultry farming and breeding is expected to enhance the productivity and performance of feed products. The report states that the rising uptake of probiotics over various domains will aid the growth of the global probiotics in animal feed market in the forthcoming years.
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List of Key Players Profiled in the Probiotics in Animal Feed Market:
- Hansen A/S
- Danisco A/S
- Koninklijke DSM N.V.
- Lallemand Inc.
- Calpis Co
- Provita Eurotech Ltd
- Orffa International Holding B.V.
- BIOMIN Holding GmbH
- Novus International Inc.
- Evonik Industries
Report Scope & Segmentation:
|2026 Value Projection
|USD 6.24 billion
|Market Size in 2018
|USD 3.56 billion
|No. of Pages
|Revenue Forecast, Company Profiles, Competitive Landscape, Growth Factors and Latest Trends
|Probiotics in Animal Feed Market Growth Drivers
|Competitive and Consolidated Market Structure Dominated by Key Multinational Firms.
Browse Detailed Summary of Research Report with TOC:
Drivers & Restraints:
Increasing Applications in Poultry Farming to Enable Growth
The rising uptake of probiotics in poultry farming has resulted primarily from the increasing demand for the enhanced nutritional health of inbred animals. The rising adoption of a healthy lifestyle has created a demand for clean-label meat and other poultry products. Fortune Business Insights has predicted that probiotics will find increasing applications in poultry farming in the coming years. In 2019, Biomin launched the Poultrystar Hatchery Geldrop aimed at the nutritional enrichment of day-old chicks. The water solubility of the product helped overcome the food delivery barrier and this property added to the demand for this product across the world. Fortune Business Insights tracks product launches, similar to Biomin’s latest Geldrop, and gauges the impact of such products on the global market.
‘Moderately Consolidated’ Market – Strong Prominence of Key Global Giants
The global probiotics in the animal feed market is consolidated in nature, as few companies account for a large market share. High-cost factor associated with R&D for the development of probiotic strains for commercial use limits the entry of market players in the industry. In recent years, existing companies have been putting more effort into the research and development of existing products, and in doing so they aim to strengthen their market presence. Among the several strategies adopted by leading companies, Fortune Business Insights has identified one key strategy that has made a positive impact on the global market. To further strengthen the consolidation of industry, companies are looking to shift their focus on emerging markets and to gain a competitive edge over their regional and private-label counterparts. The report focuses on company activities and business strategies similar to the aforementioned factors and gauges their impact on the global market.
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Detailed Table of Contents:
- Research Scope
- Market Segmentation
- Research Methodology
- Definitions and Assumptions
- Executive Summary
- Market Dynamics
- Market Drivers
- Market Restraints
- Market Opportunities
- Key Insights
- Overview of the Parent/Related Markets
- Recent Industry Developments – Policies, Partnerships, New Product Launches, and Mergers & Acquisitions
- Probiotics Consumption and Buying Behaviour Analysis
- Global Probiotics in Animal Feed Market Analysis, Insights and Forecast, 2015-2026
- Key Findings / Summary
- Market Analysis, Insights and Forecast – By Microbial Genus
- Yeast and Other Microbes
- Market Analysis, Insights and Forecast – By Application
- Market Analysis, Insights and Forecast – By Geography
- North America
- Asia Pacific
- South America
- Middle East & Africa
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- Probiotics in Animal Feed Market