Probiotic Ingredients for Animal Use Market Revenue, Insights, Overview, Outlook, Analysis | Valuates Reports

Probiotic Ingredients for Animal Use Market Size

According to Vetnosis, the value of the global animal health industry will increase by 12% to $38.3 billion in 2021.

The global Probiotic Ingredients for Animal Use market was valued at US$ million in 2023 and is anticipated to reach US$ million by 2030, witnessing a CAGR of % during the forecast period 2024-2030.

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Pet medical care is the second largest segment in pet industry. In the UK, annual spending on veterinary and other pet services has risen from £2.6bn in 2015 to £4bn in 2021, a 54% increase in just six years. White Paper on China's Pet Healthy Consumption of JD shows that in 2023, there are 13.09 million pets entering middle age and old age. And pet aging is expected to be seen in the next few years. Changes in the age structure of pets will further bring about the development of the pet medical industry. According to the data of the 2022 China Pet Medical Industry White Paper, from the perspective of market size, the scale of China's pet medical market is about ¥67.5 billion, accounting for about 22.5% of the entire pet industry. From the perspective of hospital operation time, pet hospitals within 5 years accounted for about 73%. About 11% of the pet hospitals have been in operation for more than 10 years. From the perspective of hospital turnover, nearly 40% of the hospitals have increased their annual turnover year-on-year, and the growth rate is mainly within 177%.

By Type
• Bacteria
• Yeast
• Spore Formers

By Application
• Animal Feed

Key Companies
Chr. Hansen A/S, Yakult Honsha Co. Ltd., BioGaia, Groupe Danone, Nestle S.A., Probi AB, DuPont

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This release was published on openPR.