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Importance of Protein-rich Diet among Millennials Necessitates Robust Animal Feed Probiotics Market Demand by 7% CAGR through 2031
NEW YORK , Aug. 9, 2022 /PRNewswire/ -- The global animal feed probiotics market is anticipated to grow at 7% CAGR during the assessment period of 2021-2031. As per Fact.MR, the overall sales of animal feed probiotics are likely to be driven by growing focus on animal health and well-being. Besides, demand for animal feed probiotics will rise on account of increasing need for companion animals.
Moreover, sales of animal feed probiotics are rising as they help to maintain a healthy digestive tract. Increasing production of livestock species is another crucial factor that would augur well for the global market.
Increasing popularity of organic livestock, changes in consumer preferences, and evolution of animal feed are also expected to drive demand for probiotics. In addition, rising consumption of animal-derived food products, including milk, eggs, and meat, is set to aid growth.
Several animal feed manufacturers are focusing on developing new probiotics due to their restrictive effect on digestive diseases. With rising demand for animal feed, there is a growing interest among key players in offering a new source of probiotics which can help reduce the cost of these products.
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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), growth in the consumption of meat proteins is expected to increase by 2030 globally. It is thus projected to push demand in the market.
Leading players in the animal feed probiotics market are focusing on launching effective and innovative products at affordable prices to generate a larger share. The role of researchers is also important in this market, as many key players are collaborating with researchers to develop more effective animal feed probiotics. Market players are also participating in global conferences and events to showcase their products to potential buyers.
For instance,
In the latest study, Fact.MR offers a detailed study on global animal feed probiotics market for the forecast period of 2021 to 2031. 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.
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