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Animal Intestinal Health Market Overview and Global Insights 2024
Animal Intestinal Health Market Overview
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According to The Business Research Company's, The animal intestinal health market size has grown rapidly in recent years. It will grow from $3.69 billion in 2023 to $4.11 billion in 2024 at a compound annual growth rate (CAGR) of 11.4%. The growth in the historic period can be attributed to antibiotic reduction initiatives, increasing demand for animal protein, advancements in probiotics research, regulatory support for healthier alternatives, rising consumer awareness, increased focus on animal welfare, demand for organic and natural products.
The animal intestinal health market size is expected to see rapid growth in the next few years. It will grow to $6.3 billion in 2028 at a compound annual growth rate (CAGR) of 11.2%. The growth in the forecast period can be attributed to global population growth and protein demand, research and innovation in probiotics, enhanced regulatory support, advancements in microbiome science, expansion of applications in aquaculture. Major trends in the forecast period include antibiotic alternatives, integration of technology in monitoring, technological innovations in animal nutrition, telehealth and monitoring, customized nutrition solutions.
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Market Drivers and Trends:
The growing adoption of livestock farming is expected to propel the growth of the animal intestinal health market going forward. Livestock farming is the agricultural practice of breeding, raising, and managing domesticated animals for various purposes, primarily to produce food, fiber, and other by-products. A focus on intestinal health in livestock farming contributes to better overall animal performance, enhanced feed efficiency, productivity, and nutrient absorption, reduces the need for antibiotics, and contributes to long-term sustainability. For instance, in 2021, according to Eurostat, a Luxembourg-based statistical office of the European Union (EU) responsible for publishing high-quality Europe-wide statistics, the livestock population in the European Union was around 142 million pigs, 76 million bovine animals, 60 million sheep, and 11 million goats in 2021. The growing adoption of livestock farming is expected to propel the growth of the animal intestinal health market .
Product innovations are emerging as the key trend gaining popularity in the animal intestinal health market. Major companies operating in the market are developing advanced and innovative products to strengthen their position in the market. For instance, in May 2021, CHR Hansen, a Denmark-based animal health and bioscience company, introduced Bovacillus, a technology-proven probiotic product to use in feed applications to support dairy and beef cattle health and performance. Bovacillus is a versatile probiotic formed through two strains of different species of Bacilli - Bacillus licheniformis and Bacillus subtilis isolated from nature that is capable of surviving in harsh conditions of feed production, preparation and within the gastrointestinal tract. It can be used in remixes, mineral mix, mash feed, milk replacers, and others.
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Major Key Players of the Market:
Koninklijke DSM N.V., Archer-Daniels-Midland Company, Kemin Industries Inc., E. I. du Pont de Nemours and Company, Cargill Incorporated, Novozymes A/S, Nutreco N.V., Chr. Hansen Holding A/S, Bluestar Adisseo Company, Dr. Eckel Animal Nutrition GmbH & Co. KG, Alltech Inc., Evonik Industries AG, Lallemand Animal Nutrition, Biorigin, AB Vista, Land O'Lakes Inc., Lesaffre, Unique Biotech, Pure Cultures LLC, Agrihealth, Arm & Hammer Animal and Food Production, BENEO GmbH, Delacon Biotechnik Ges.m.b.H., Pancosma SA, Phytobiotics Futterzusatzstoffe GmbH, Vetpharma Animal Health S.L., Vetoquinol S.A., Virbac Corporation, Wacker Chemie AG, Zoetis Inc.
Animal Intestinal Health Market 2024 Key Insights:
• The animal intestinal health market size is expected to see rapid growth in the next few years. It will grow to $6.3 billion in 2028 at a compound annual growth rate (CAGR) of 11.2%.
• The Surge In Animal Intestinal Health Market Fueled By Rising Incidence Of Intestinal Disorders In Livestock
• Chr Hansen's Breakthrough Bovacillus Probiotic Technology Revolutionizes Animal Intestinal Health Market
• Asia-Pacific was the largest region in the animal intestinal health market share in 2023
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