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Animal Feed Probiotics to Witness US$ 12 Billion Market Opportunity as Consumption of Meat-Based Products Surges
NEW YORK , Nov. 1, 2022 /PRNewswire/ -- The global animal feed probiotics market is poised to grow at 9.1% CAGR during the assessment period of 2022-2032. As per Fact.MR, the overall sales of animal feed probiotics are likely to be driven by growing focus on animal health and consumption of animal & dairy-based products. Further, demand will rise on account of surging need for companion animals.
With rising consumption of protein-rich diets across the globe, key players are improving the production of animal feed probiotics. Moreover, to prevent the outbreaks of cattle-based or poultry-based diseases, end users are increasing the adoption of these probiotics. This is resulting in increased research and development activities among leading players to capitalize on growing demand.
As per the study, animal feed probiotics help in maintaining a healthy gut and digestive tract. Consequently, livestock animals are frequently fed animal feed probiotics as vital ingredients. Bifidobacterium and lactobacillus are considered to be the two main sources used in the production of animal feed probiotics. However, rising awareness regarding the health benefits of yeast and fungi consumption will also boost the sales.
Additionally, increasing popularity of organic livestock and advancements in development of animal feed are also expected to drive demand for probiotics. Hence, key manufacturers are focusing on developing new probiotics due to their restrictive effect on digestive diseases.
Besides, these products are available for use in ruminant animals such as cows and sheep to improve the health of their rumen mucosa, a large area of undigested material that is produced every day by millions of bacterial colonies.
Surging demand for meat and meat products, as well as growing importance of protein-rich diets among the millennial population would boost the market in the next decade. As per the Food and Agriculture Organization (FAO), the consumption of meat products and meat will increase at 1.7% year-over-year and the demand for food products will surge by 60% by the end of 2050.
However, the regulatory bodies such as the U.S. Food and Drug Administration have banned the usage of antibiotics as feed supplements for poultry and livestock animals. Hence, key players such as Evonik, Novozymes, Chr. Hansen, and others are focusing on developing high quality probiotics to gain revenue. On the back of these aforementioned factors, the demand in animal feed probiotics market is expected to surpass US$ 12 Billion by the end of 2032.
Leading players in the animal feed probiotics market are focusing on launching effective and innovative products to gain competitive edge. Some of the industry giants are forming alliances with mergers & acquisitions and product development related to livestock to generate maximum profits, especially across Europe and East & South Asia .
Meanwhile, other players are establishing strong distribution networks through manufacturing facilities across India , China , Japan , Kore, Germany , and other countries in Europe . They are also collaborating with end users to expand their brand presence.
For instance,
In the latest study, Fact.MR offers a detailed study on global animal feed probiotics market for the forecast period of 2022 to 2032. This study also highlights key drivers promoting the sales of animal feed probiotics with analysis across below segments:
: The global probiotics market is likely to grow at a steady pace owing to increasing awareness about the benefits of maintaining one's health and wellness. Pioneering research in microbiome-based technology is also likely to provide an impetus to the probiotics market.
: The global probiotic soda market is likely to grow at a CAGR of 7.7% during the forecast period from 2022 to 2032. The market is set to reach US$ 443.8 Billion by the end of 2032 with increasing demand for functional beverages globally.
: The probiotic agricultural cleaning solutions market is likely to reach US$ 2.87 Billion by 2032. It is set to grow at 4.4% CAGR during the assessment period of 2022-2032 owing to rising acceptance of good agriculture practices among farmers.
: Animal feed antioxidants market is set to witness substantial growth during the forecast period 2021-2031. Key manufacturers like Cargill, and others are focusing on the expansion of their production facilities as well as strategic alliances/partnerships with regional feed manufacturers in Western Europe , Asia Pacific , and the Middle East
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