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Probiotics in Animal Feed Market worth $7.0 Billion by 2025, at a CAGR of 7.4%
Probiotics in Animal Feed Market by Livestock (Poultry, Ruminants, Swine, Aquaculture, Pets), Source (Bacteria [Lactobacilli, Streptococcus Thermophilus, Bifidobacteria] and Yeast & Fungi), Form (Dry and Liquid), and Region - Global Forecast to 2025
The probiotics in animal feed market is estimated to account for a value of USD 4.6 billion in 2019 and is projected to grow at a CAGR of 7.4% from 2019, to reach a value of USD 7.0 billion by 2025. The ban on the use of antibiotic growth promoters (AGPs) due to their adverse health effects on animals and humans is expected to boost the sales of probiotics in the coming years. Apart from this, the increased demand of poultry products in the Asia Pacific region, owing to its high protein content, is expected to drive the probiotics in animal feed market in the coming years.
The bacteria segment is estimated to account for a larger market share, in terms of value, in 2019
Based on source, the probiotics in animal feed market is segmented into bacteria and yeast & fungi. The survival rate of bacterial strains within the gastrointestinal tract of animals is much higher as compared to yeast. Hence, bacterial strains are more preferred in the production of probiotics in animal feed.
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The aquaculture segment is estimated to witness the fastest growth in the probiotics in animal feed market in 2019
By livestock, the probiotics in animal feed market is segmented into poultry, ruminants, swine, aquaculture, pets, and others (equine and rabbits). There is an increase in demand for probiotics in the feed for aquaculture due to an increase in demand for dietary animal protein. Many breeders are also developing probiotics that could cater to the all-round growth and development of aquatic animals.
The dry segment, by form, held a larger market share in the probiotics in animal feed market in 2018
By form, the probiotics in animal feed market is segmented into dry and liquid forms. The dry form of probiotics in animal feed held a larger market share in 2018 due to factors such as lower storage cost for feed manufacturers and longer shelf-life of feed products, as opposed to liquid probiotics, which have a high moisture content that leads to uncontrolled culturing, which ultimately affects the quality of the feed.
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The Asia Pacific region is projected to dominate the market through the forecast period
In 2018, the Asia Pacific region led the global probiotics in animal feed market. Factors such as a large livestock base, high meat consumption, and increasing consumer awareness about the positive impact of probiotics on animal health are driving the Asia Pacific market. Some of the countries contributing to the growth of this region include China, India, Japan, Australia, and New Zealand.
This report includes a study on the marketing and development strategies, along with a study on the product portfolios of the leading companies operating in the probiotics in animal feed market. It includes the profiles of leading companies such as Chr. Hansen (Denmark), Koninklijke DSM N.V. (Netherlands), DowDuPont (US), Evonik Industries (Germany), Land OLakes (US). Other players include Lallemand (Canada), Bluestar Adisseo Co. (China), Lesaffre (France), Alltech (US), Novozymes (Denmark), Calpis Co., Ltd. (Japan), Schouw & Co. (Denmark), Unique Biotech (India), Pure Cultures (US), Kerry (Ireland), and Mitsui & Co., Ltd. (Japan).
- In December 2018, Evonik (Germany) and Vland (China) formed an agreement by signing an MoU for strategic cooperation. The two companies would work on innovations related to probiotics in animal nutrition.
- In October 2017, Koninklijke DSM N.V. (Netherlands) acquired Twilmij B.V. (Netherlands). The company expanded its presence in the Northwest-European region in the animal feed market.
- In October 2017, Danisco Animal Nutrition (US), a business unit of DuPont Industrial Bioscience, launched Enviva PRO, a three-strain Bacillus probiotic, for the European market.
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