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Probiotics In Animal Feed Global Market Size, Share Analysis, Growth And Forecast 2023-2032
Probiotics In Animal Feed Market Report
The Business Research Company's Probiotics In Animal Feed Global Market Report 2023 identifies the growing demand for eggs and poultry meat as the major driver for the probiotics in the animal feed market's growth in the forecast period. The demand for eggs and poultry meat is increasing because of the rise in population, greater purchasing power, and urbanization. Moreover, increasing awareness about the nutrients and protein from eggs and meat are contributing towards their demand. Probiotics are used as an additive in the poultry feed, which keeps the poultry farm animals disease-free and boosts their immunity to produce more eggs and meat.
The global probiotics in animal feed market size grew from $4.26 billion in 2022 to $4.62 billion in 2023 at a compound annual growth rate (CAGR) of 8.6%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services, and affecting many markets across the globe. The probiotics in animal feed market size is expected to grow to $6.35 billion in 2027 at a CAGR of 8.2%.
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Major competitors in the probiotics in the animal feed market are Chr. Hansen, Koninklijke DSM N.V., DuPont, Evonik Industries, Land O'Lakes, Calpis Co., Ltd., Ohly, Lesaffre, Alltech, Novozymes, Unique Biotech, Archer Daniels Midland Company (ADM), Advance aqua bio technologies, Danisco A/S, and Kerry Group.
A key trend in the probiotics in the animal feed market includes partnerships and collaborations. The companies operating in the probiotics in the animal feed market are focusing on establishing partnership with relevent technology companies to expand their product development activities and enhance their market reach. For instance, in September 2020, Proteon Pharmaceuticals, a Poland-based biotechnology company, partnered with DuPont Animal Nutrition. The partnership aims to use DuPont's reputable and trusted brand to help poultry producers in particular nations access Proteon's bacteriophage technology. In addition to improving Proteon's distribution capabilities and strengthening DuPont's product line, the partnership will help further reduce antimicrobial resistance (AMR) in farm animals. DuPont Animal Nutrition is a biotechnology research company that produces a wide range of feed enzymes, betaine, phytogenics, and probiotics.
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The probiotics in the animal feed market is segmented -
•By Form Type: Dry, Liquid
•By Source Type: Bacteria, Yeast and Fungi
•By Application Type: Cattle, Poultry, Swine, Aquaculture, Other Applications
•By Geography: Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. Asia-Pacific was the largest region in the probiotics in the animal feed market.
The Business Research Company's "Global Probiotics In Animal Feed Market Report 2023" provides a thorough understanding of the market across 60 geographies. The report covers market size, growth rate, segments, drivers and trends in every region and country. In addition, the report offers insights on historical and forecast growth, helping players analyze and strategize better.
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The Table Of Content For The Probiotics In Animal Feed Market Include:
1. Executive Summary
2. Probiotics In Animal Feed Market Characteristics
3. Probiotics In Animal Feed Market Trends And Strategies
4. Probiotics In Animal Feed - Macro Economic Scenario
5. Probiotics In Animal Feed Market Size And Growth
……
26. Africa Probiotics In Animal Feed Market
27. Probiotics In Animal Feed Market Competitive Landscape And Company Profiles
28. Key Mergers And Acquisitions In The Probiotics In Animal Feed Market
29. Probiotics In Animal Feed Market Future Outlook and Potential Analysis
30. Appendix
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