"Probiotics Animal Feed Market Revolution: Forecasting a USD...

"Probiotics Animal Feed Market Revolution: Forecasting a USD 0.4 Billion by 2030"

Posted 2023-12-20 08:04:04

Probiotics in Animal Feed Market Highlights

The Probiotics in Animal Feed Market has witnessed significant growth, reaching a size of USD 0.2 billion in 2022. Projections suggest a robust escalation, with the industry expected to reach USD 0.4 billion by 2030, reflecting a compound annual growth rate (CAGR) of 8.6% during the forecast period from 2023 to 2030. This growth is attributed to the increasing demand for animal products such as wool, milk, meat, and eggs. The surge in demand for animal-based goods, coupled with technological advancements in the livestock industry, is anticipated to catalyze a transition from an unorganized to an organized sector within the livestock industry, presenting significant growth opportunities.

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Probiotics, which are live microorganisms similar to beneficial bacteria found naturally in the gut, are increasingly being incorporated into animal feed to enhance animal health and productivity. Referred to as "good bacteria," probiotics help maintain a healthy balance of gut flora. Several factors contribute to the growth of the probiotics in animal feed market, including the rising awareness of their benefits for animal health and productivity, a growing demand for antibiotic-free meat and dairy products, concerns about animal welfare, and increasing government support for their use in animal feed.

The global probiotics in animal feed market is expected to achieve a revenue of USD 0.4 billion by 2030, with a projected CAGR of 8.6% during the forecast period from 2023 to 2030. These microbial strains used in animal feed play a crucial role in promoting animal growth, yield, productivity, immunity, and gut health. Despite challenges such as rising initial investment, particularly in research and development, key players in the market are adopting strategies like mergers & acquisitions, innovations, product launches, and joint ventures to overcome obstacles and secure a larger market share.

The market segmentation is based on source, form, and livestock. The sources of probiotics in animal feed include bacteria and yeast and fungi. Among bacteria, segments like Streptococcus, Lactobacillus, Bifidobacterium, and others play a crucial role. The bacterial segment is expected to dominate the market due to its effectiveness in increasing immunity, yield, productivity, and gut health in animals. The form of probiotics can be dry or liquid, with the dry segment expected to lead the market due to lower storage costs, ease in transportation, and higher shelf life.

Livestock-based segmentation includes swine, poultry, ruminants, aquaculture, and others. The poultry segment is anticipated to hold the largest revenue share, driven by the high demand for protein-rich products such as eggs and poultry meat. However, the aquaculture segment is projected to register the highest CAGR during the forecast period, reflecting the increasing demand for animal-based dietary protein and a focus on developing products for the complete growth and development of aquaculture animals.

Key players in the global probiotics in animal feed market include DuPont de Nemours, Inc., Kerry Group, Bluestar Adisseo Co., Ltd., Evonik Industries AG, Land O’Lakes, Inc., Pure Cultures, Alltech, Lallemand Inc., Novus International, Inc., Koninklijke DSM N.V., Chr. Hansen Holding A/S, Schouw & Co., Lesaffre, Unique Biotech, and Novozymes.

The regional analysis indicates that the Asia-Pacific market is expected to account for the largest market share and register the highest CAGR. This growth is attributed to the increasing consumption of poultry products in the region and the presence of a large number of livestock in developing economies such as China, India, Bangladesh, Vietnam, and Indonesia.

Several key developments in the market reflect the dynamic nature of the industry. For instance, in November 2021, Evonik Industries AG entered into a strategic cooperation with Vland Biotech Group to develop new probiotics for animal health and enzymes for industrial use. Lesaffre launched a new generation of its live Saccharomyces cerevisiae probiotic, ActiSaf Sc 47 HR+, in the same month, showcasing high resistance against extreme conditions. Additionally, in January 2022, Evonik Industries AG launched a new probiotic product, GutCare PY1, in China, India, Bangladesh, and the US to capture a larger share of these markets. These developments underscore the industry's commitment to innovation and growth.

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