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Probiotics In Animal Feed Market Growth, Demand, Size And Share, Forecast To 2033
Probiotics In Animal Feed Market Growth
As per the report, the probiotics in animal feed market size has grown strongly in recent years. It will grow from $4.67 billion in 2023 to $5.09 billion in 2024 at a compound annual growth rate (CAGR) of 9.0%. The probiotics in animal feed market size is expected to see strong growth in the next few years. It will grow to $7.25 billion in 2028 at a compound annual growth rate (CAGR) of 9.2%.
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The Role Of Probiotics In Meeting The Growing Demand For Eggs And Poultry Meat
The growing demand for eggs and poultry meat contributes to the growth of probiotics in the animal feed market. 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. For instance, in April 2023, the United States Department of Agriculture, a US-based government agency, in 2022, the total value of egg production in the United States was $19.4 billion, a 122% increase from $8.71 billion in 2021. The overall number of eggs produced was 110 billion, a decrease from the previous year. Thus, increased demand for eggs and poultry meat is expected to boost the demand for probiotics in the animal feed during the forecast period.
Strategic Partnerships And Collaborations Driving Growth In The Probiotics In Animal Feed Market
Partnerships and collaborations is a key trend gaining popularity in the probiotics in the animal feed market. The companies operating in the probiotics in the animal feed market are focusing on establishing partnership with relevant technology companies to expand their product development activities and enhance their market reach. For instance, in January 2023, Evonik, a German specialty chemicals company, partnered with Dr. Eckel Animal Nutrition, a German-based animal feed manufacturer. The collaboration will see Evonik expand its animal nutrition gut health portfolio, which presently includes several probiotics targeted at laying hens, to include the phytogenics product class.
The probiotics in animal feed market covered in this report is segmented -
1) By Form Type: Dry, Liquid
2) By Source Type: Bacteria, Yeast and Fungi
3) By Application Type: Cattle, Poultry, Swine, Aquaculture, Other Applications
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Major companies operating in the probiotics in animal feed market include Chr. Hansen Holding A/S, Royal DSM N.V., E. I. du Pont de Nemours and Company, Evonik Industries AG, Land O'Lakes Inc., Alltech Inc., Adisseo France SAS, Lallemand Inc., Archer-Daniels-Midland Company (ADM), Orffa Additives B.V., Provita Eurotech Ltd., Calpis Co. Ltd., Danisco A/S, Lesaffre, Novozymes A/S, Ohly GmbH, Kemin Industries Inc., Biomin Holding GmbH, Novus International Inc., Cargill Incorporated, BASF SE, Nutreco N.V., Yakult Honsha Co. Ltd., Novartis International AG, Bayer Aktiengesellschaft, Boehringer Ingelheim International GmbH, Merck & Co. Inc., Zoetis Inc., Elanco Animal Health Incorporated
Contents of the report:
1. Executive Summary
2. Probiotics In Animal Feed Market Report Structure
3. Probiotics In Animal Feed Market Trends And Strategies
4. Probiotics In Animal Feed Market - Macro Economic Scenario
5. Probiotics In Animal Feed Market Size And Growth
…..
27. Probiotics In Animal Feed Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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