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Yeast Probiotic Ingredient For Animal Global Market Analysis, Trends, Growth, Research And Forecast 2033
Yeast Probiotic Ingredient For Animal Global Market
According to The Business Research Company's, The yeast probiotic ingredient for animal market size has grown rapidly in recent years. It will grow from $5.53 billion in 2023 to $6.13 billion in 2024 at a compound annual growth rate (CAGR) of 10.9%. The growth in the historic period can be attributed to discovery of probiotic benefits, rise in concerns about antibiotic, research and development, industry adoption and validation, regulatory support and approvals..
The yeast probiotic ingredient for animal market size is expected to see rapid growth in the next few years. It will grow to $9.34 billion in 2028 at a compound annual growth rate (CAGR) of 11.1%. The growth in the forecast period can be attributed to market penetration in developing regions, research and development investments, consumer preference for natural products, regulatory support and guidelines, expansion in livestock production.. Major trends in the forecast period include growing demand for antibiotic alternatives, focus on gut health in livestock, regulatory shifts and compliance, demand for natural feed supplements, expansion in livestock production..
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Market Drivers and Trends:
Growing demand for eggs and poultry meat is expected to propel the growth of yeast probiotics for animal market going forward. Poultry meat refers to the edible portion of any domesticated avian species, such as chicken, turkey, duck, geese, Japanese quail and guinea fowl. Probiotics are used as an additive in poultry feed, which helps the poultry farm animals disease-free and boosts their immunity to produce more eggs and meat. For instance, in April 2023, according to the report published by the United States Department of Agriculture (USDA), an US-based federal agency responsible for overseeing agriculture, food, and rural development, the consumption of chicken meat rose from 17,164 metric tons in 2021 to 17,674 metric tons in 2022. Thus, increased demand for eggs and poultry meat is driving the growth of yeast probiotics for animal market.
Product innovation is the key trend gaining popularity in the yeast probiotic ingredient for animal market. Major companies operating in the swine feed probiotic yeast market are focusing on improving feed use efficiency on the probiotic yeast they are offering for swine feed. For instance, in January 2023, Phileo by Lesaffre, a France-based provider of animal welfare and performance solutions based on live yeasts, bacteria and yeast products launched Actisaf Sc 47 HR+ probiotic yeast for swine feed and poultry feed. The unique Actisaf Sc 47 HR+ microspherule shape was developed to provide inherent resistance to combined temperature, friction and moisture in pelleting feed without the requirement for foreign material coating.
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Major Key Players of the Market:
Chr. Hansen A/S; Koninklijke DSM N V; DuPont de Nemours Inc.; Evonik Industries AG; Mitsui & Co. Ltd.; Novozymes A/S; Lallemand Inc.; Kemin Industries Inc.; Kerry Group PLC; Dow Inc.; BASF SE; Perstorp AB; Eastman Chemical Company; Macco Organiques Inc.; Hawkins Inc.; Impextraco NV; Lesaffre; Calpis Co. Ltd.; Alltech; Provita Eurotech Ltd.; BioResource International Inc.; Bio-Vet Inc.; BioZyme Inc.; Diamond V; Novus International Inc.; Pancosma; Phileo by Lesaffre; Pure Cultures; Vetanco; Zinpro Corporation
Yeast Probiotic Ingredient For Animal Market 2024 Key Insights:
• The yeast probiotic ingredient for animal market will grow to $9.34 billion in 2028 at a compound annual growth rate (CAGR) of 11.1%.
• Rising Demand For Eggs And Poultry Meat Fuels Surge In Yeast Probiotics For Animal Feed Market
• Innovative Advancements Drive Yeast Probiotic Ingredient Evolution In Animal Feed Market
• North America was the largest region in the yeast probiotic ingredient for animal market in 2023
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The Business Research Company (www.thebusinessresearchcompany.com) is a leading market intelligence firm renowned for its expertise in company, market, and consumer research. With a global presence, TBRC's consultants specialize in diverse industries such as manufacturing, healthcare, financial services, chemicals, and technology, providing unparalleled insights and strategic guidance to clients worldwide.
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