The report "Probiotics in Animal Feed Market by Livestock (Poultry, Ruminants, Swine, Aquaculture, Pets), Source (Bacteria, Yeast), Form (Dry, Liquid), and Region (North America, Europe, Asia Pacific, South America, & Rest of World) - Global Forecast to 2026", The global probiotics in animal feed market was valued at USD 4.4 billion in 2020. It is estimated to reach about USD 4.8 billion in 2021 and is projected to grow at a CAGR of 8.8%, to reach USD 7.3 billion by 2026. The growing awareness about meat and dairy products, health concerns related to livestock, and rising industrialization of animal-processed products are the major factors driving the probiotics in animal feed market. With the imposition of regulations by government agencies on the use of antibiotics, the demand for probiotics for animal feed is projected to remain high.
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The poultry segment is projected to be the largest revenue contributor in the probiotics in animal feed market during the forecast period.
The poultry segment is accounted to hold the largest share of the probiotics in animal feed market in 2020. Probiotics help improve the efficiency of feed and also enhance the feed intake among poultry. Probiotics are particularly important at a relatively young age for poultry as they help in stabilizing the intestinal bacteria, which are usually not present in chickens. These factors are contributing to the growth of probiotics in poultry segment.
The yeast segment is projected to account for the fastest growth, by source, during the forecast period.
Probiotics in animal feed are considered an important ingredient in animal nutrition, with benefits similar to those in human nutrition. The ban on synthetic antimicrobial growth promoters (AGPs) in Europe in 2006 has increased attention towards the effects of yeast products on the overall performance of animal health. These products contain live microorganisms (probiotics in animal feed) that confer positive health effects on the host.
Asia Pacific region is projected to account for the largest market size during the forecast period
Developing countries, particularly in the Asia Pacific region, offer high-growth opportunities in the probiotics in animal feed market due to the rise in awareness among consumers to supplement consumption and a high occurrence of various diseases. Related companies are projected to engage in forwarding or backward integration to tap the market opportunities. The production of poultry and cattle meat products is projected to be the highest in countries such as China, and India, which is driving the market for probiotics in animal feed in this region.
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Key Market Players:
Key players identified in this market include Chr. Hansen (Denmark), Koninklijke DSM N.V. (Netherlands), DuPont (US), Evonik Industries (Germany), Land O'Lakes (US), Mitsui & Co., Ltd. (Japan), Ohly (Denmark), Lesaffre (France), Alltech (US), Novozymes (Denmark), Calpis Co., Ltd. (Japan), Unique Biotech (India), and Pure Cultures (US). Key players in this market are focusing on increasing their presence through mergers & acquisitions and new product developments, specific to livestock in these regions. These companies have a strong presence in Europe and the Asia Pacific. They also have manufacturing facilities along with strong distribution networks across these regions.
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