Animal Feed Probiotics Market Value to Reach ~US$ 4.3 Bn by 2027: Transparency Market Research
The latest market forecast report published by Transparency Market Research on the animal feed probiotics market includes global industry analysis and opportunity assessment for 2019-2027. Revenue generated from the global animal feed probiotics market has been estimated to be valued at ~US$ 2.6 Bn in 2019. The global animal feed probiotics market is projected to increase at a CAGR of ~7%, to reach US$ 4.3 Bn by the year 2027.
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Animal Feed Probiotics Market: Rising Demand for Dairy, Poultry, and Reliable & Qualitative Meat
There has been significant increase in the population in the APEJ region in the past few decades, leading to the increased consumption of meat, poultry, milk, and other dairy products. Meat consumption is observed to be increasing at an alarming rate of 4% per annum, whereas, milk and dairy have experienced demand growth of 2-3% per annum. Rapid growth in meat demand has been supported by the growing demand for poultry meat, which has been consistently increasing at nearly three times the rate of the population growth in past five decades. In addition, per capita consumption in developing countries, particularly in East and South Asia, has more than doubled in the past decade. This scenario has raised the production and raising of animals in farms for meat, milk, and other products, subsequently increasing the need for animal feed and animal feed probiotics for maintaining animal gut health and optimum production. As such, the global animal feed probiotics market has been growing at a significant rate.
Animal Feed Probiotics Market: Significant Impact of Probiotics on Poultry and Cattle Health and Productivity
For poultry, animal feed probiotic supplementation can be provided through feed and water. These animal feed probiotics improve the feed consumption of chickens, increase egg production, and reduce the cost of production. In a research study by the Faculty of Veterinary Medicine, University of Airlangga, Surabaya, Indonesia, it was found that, the addition of animal feed probiotics can improve poultry health significantly. Animal feed probiotics provide no significant effects on egg mass; however, they have a significant effect on feed intake, water intake, feed efficiency, and feed conversion.
Increasing Demand for Animal Feed Probiotics as a Potential Alternative to Antibiotic Growth Promoters (AGPs)
Controversies surrounding the use of antibiotics as growth promoters in animals are never-ending. Antibiotic growth promoters (AGPs), though, offer numerous benefits such as reducing the growth of harmful pathogens (salmonella, campylobacter, escherichia coli, etc.). According to the National Office of Animal Health (NOAH, 2001), AGPs are used to 'help growing animals digest their food more efficiently, get maximum benefits from them, and allow them to develop into strong and healthy beings'. Antibiotics have been conventionally used around the globe in therapeutic levels to fight microbial infections in animals, consequently improving the performance of animals. However, due to health concerns regarding animals and humans, and increase in antimicrobial resistance, these antibiotic growth promoters are either restricted or banned in several nations. Therefore, a vast consumer shift is expected towards using animal feed probiotics for their livestock and other animals.
Specific Product Launches for Animal-specific Probiotics Feed for Optimal Results
Players in the global animal feed probiotics market are now satiating changing supplement demands from different animals through separate products. Different animals require different animal feed probiotics containing different bacterial amounts. Key players in the global animal feed probiotics market are now focusing on individual species of animals, such as cattle, canines, or equines, and launching animal feed probiotic products accordingly, resulting in greater consumer traction.
Insufficient Consumer Awareness to Hamper Growth of Animal Feed Probiotics Market
Consumer knowledge regarding animal feed probiotics is surprisingly low, even in developed regions such as North America and Europe. In Europe, probiotic products are widely accepted; however, awareness among consumers is still below average in a majority of countries. The health benefits of animal feed probiotics are yet to be well-known across the globe. Limited marketing of the product by manufacturers or targeting only a specific audience is likely to restrict consumer awareness, thereby restraining the growth of the global animal feed probiotics market to some extent.
Global Animal Feed Probiotics Market Segmentation
Animal Feed Probiotics Market by Source
Animal Feed Probiotics Market by Animal
- Companion Animals
Animal Feed Probiotics Market by Form
Animal Feed Probiotics Market by Sales Channel
- Modern Trade
- Specialty Stores
- Online Retailers
- Convenience Stores
- Direct Sales
Animal Feed Probiotics Market by Region
- North America
- Latin America
- Rest of Latin America
- Rest of Europe
- CIS & Russia
- Asia Pacific excluding Japan
- Greater China
- Australia & New Zealand
- Rest of APEJ
- Middle East & Africa
- GCC Countries
- South Africa
- Rest of MEA
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