Pune, India, December 06, 2023 (GLOBE NEWSWIRE) — Global Probiotics in animal feed market There is potential to benefit from increased awareness regarding animal health welfare. According to a report published by Fortune Business Insights™Topic “Probiotics in Animal Feed: Global Market Analysis, Insights and Forecast, 2023-2026The market was valued at US$3.56 billion in 2018. Fortune Business Insights predicts the market will reach US$6.24 billion by 2026, demonstrating a CAGR of 7.30%.
The benefits of probiotics in animal nutrition have created a high demand for these products around the world. The increasing emphasis on animal health and welfare and the growing trend of commercial livestock farming have led to the availability of new products in the market. The popularity of probiotics in animal feed is increasing due to the increasing focus on research and development into probiotics to replace antibiotic growth promoter feed additives. The use of probiotics in poultry farming and breeding is expected to increase the productivity and performance of feed products. The report states that the increasing use of probiotics in various sectors will help the growth of the global probiotics animal feed market in the coming years.
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List of Major Players in Probiotics in Animal Feed Market:
- Hansen A/S
- Danisco A/S
- Koninklijke DSM NV
- Lallemand Inc.
- Calpis Company
- Provita Eurotech Ltd
- Orfa International Holding B.V.
- Biomin Holding GmbH
- Novus International Inc.
- Evonik Industries
Scope and divisions of the report:
|2026 price projection
|6.24 billion US dollars
|Market size in 2018
|3.56 billion US dollars
|number of pages
|Revenue Forecast, Company Profile, Competitive Landscape, Growth Factors and Latest Trends
|Probiotics Growth Factors in Animal Feed Market
|The competitive and consolidated market structure is dominated by major multinational companies.
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Drivers and restrictions:
Growing applications in poultry farming to enable growth
The increasing consumption of probiotics in poultry is mainly due to the increasing demand for enhancing the nutritional health of captive animals. The growing trend of adopting a healthy lifestyle has created a demand for clean labeled meat and other poultry products. Fortune Business Insights predicts that the application of probiotics in poultry farming will increase in the coming years. In 2019, Biomin launched PoultryStar Hatchery Geldrop aimed at nutritional enrichment of day-old chicks. The water solubility of the product helped in overcoming the food delivery barrier and this quality increased the demand for this product across the world. Fortune Business Insights tracks product launches similar to Biomin’s latest GelDrop, and assesses the impact of such products on the global market.
‘Moderately consolidated’ market – strong dominance of major global players
The global probiotics in animal feed market is consolidated in nature, as a few companies hold large market shares. The high cost factor associated with R&D for developing probiotic strains for commercial use limits the entry of market players in the industry. In recent years, existing companies have been putting more effort into research and development of existing products, and in doing so they aim to strengthen their presence in the market. Among the many strategies adopted by leading companies, Fortune Business Insights has identified one key strategy that has positively impacted the global market. To further strengthen industry integration, companies are looking to increase their focus on emerging markets and gain a competitive edge over their regional and private-label counterparts. The report focuses on company activities and business strategies similar to the above factors and assesses their impact on the global market.
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Detailed Table of Contents:
- scope of research
- market segmentation
- Research Methodology
- Definitions and assumptions
- executive Summary
- market dynamics
- market driver
- market restrictions
- market opportunities
- key insights
- Overview of core/relevant markets
- Recent industry developments – policies, partnerships, new product launches, and mergers and acquisitions
- Consumption and purchase behavior analysis of probiotics
- Global Probiotics in Animal Feed Market Analysis, Insights and Forecast, 2015-2026
- Main findings/summary
- Market Analysis, Insights and Forecast – by Microbial Genus
- yeast and other microorganisms
- Market Analysis, Insights and Forecasting – by Application
- Market Analysis, Insights and Forecasts – by Geography
- North America
- Asia Pacific
- South America
- Middle East and Africa
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Probiotics in animal feed market