Probiotics in Animal Feed Market Size, Share, Industry Overview, Growth Trends, and Leading Players

Chicago, Jan. 10, 2024 (GLOBE NEWSWIRE) -- The global probiotics in animal feed market is anticipated to grow from USD 4.6 billion in 2023 to USD 7.1 billion in 2028, at a compound annual growth rate (CAGR) of 9.1%. Owing to the increase in production and demand of compound feed along with rising consumption of feed additives in emerging markets such as Asia Pacific and South America.

Probiotics in Animal Feed Market Report Scope:

Probiotics in Animal Feed Market Overview

The Probiotics in Animal Feed market is a rapidly growing segment within the broader animal nutrition industry. Probiotics, which are live microorganisms that confer health benefits when consumed, have gained significant attention for their potential to enhance animal health and performance.

Key factors contributing to the probiotics in animal feed market growth include:

• Growing Emphasis on Animal Health: There is an increasing awareness among livestock producers about the importance of maintaining optimal animal health. Probiotics play a crucial role in promoting a balanced gut microbiota, which is linked to improved immunity and overall well-being in animals.
• Alternative to Antibiotics: With rising concerns about antibiotic resistance and the push for sustainable farming practices, probiotics have emerged as a viable alternative to traditional antibiotics. Probiotics contribute to disease prevention and can reduce the need for antibiotic use in livestock.
• Improved Feed Conversion Efficiency: Probiotics have shown the potential to enhance feed conversion efficiency in animals. This is particularly important in the context of efficient resource utilization and cost-effective livestock production.
• Regulatory Support and Guidelines: Governments and regulatory bodies are increasingly recognizing the importance of probiotics in animal nutrition. The development of clear guidelines and regulations supporting the use of probiotics in animal feed has contributed to market growth.
• Rising Demand for Animal Protein: The global demand for animal protein, including meat, milk, and eggs, is on the rise. Probiotics aid in maximizing productivity and ensuring the quality of animal-derived products, meeting the escalating demand from a growing global population.

Book a meeting with our experts to discuss your business needs @
https://www.marketsandmarkets.com/speaktoanalystNew.asp?id=85832335

Asia Pacific is expected to dominate the market during the forecast period.

Countries such as China, India, Japan, Australia & New Zealand, and rest of the Asia Pacific have been considered in this study. Some of the factors for the high demand of the market in Asia Pacific region includes growing population, rise in disposable incomes, and rapid urbanization. Increasing demand for meat and animal products among the growing population of the Asia Pacific region along with the rising affluence in the region resulted in high consumption of meat products. This has also resulted in intensified livestock production for meat, which in turn drives the need for improved animal health and performance.

List of Key Players in Probiotics in Animal Feed Market:

• ADM (US)
• International Flavors & Fragrances Inc. (US)
• CHR. HANSEN HOLDING A/S (Denmark)
• Evonik Industries AG (Germany)
• Land O'Lakes (US)
• DSM (Netherlands)
• Ohly (Germany)
• Novozymes (Denmark)
• Alltech (US)
• Kemin Industries, Inc. (US)
• Provita Animal Health (UK)
• Orffa (Netherlands)
• Lesaffre (France)

Key Questions Addressed by the probiotics in animal feed market report:

• What is the projected market value of the global probiotics in animal feed market?
• What is the estimated growth rate (CAGR) of the global probiotics in animal feed market for the next five years?
• Which are the major companies in the Probiotics in Animal Feed market?
• Which region is expected to hold the highest market share?