Probiotics in Animal Feed Market Worldwide Key Players Review | Size, Share and Forecast to 2024

Research Reports

Jan 26, 2021

Market Highlights

Global Probiotics in Animal Feed Market is expected to garner a revenue of USD 6.5 Billion by 2024 and register a CAGR of 7.5% during the forecast period of 2019 to 2024.The microbial strains used in animal feed for promoting animal growth, yield, productivity, immunity, and gut health are known as probiotics in animal feed. The most common microbial strains used as probiotics for livestock are bacteria, yeast, and fungi. Manufactures are witnessing challenges in their growth in the global probiotics in animal feed market due to the rising initial investment, especially in research and development that is involved in the improvement of efficient and viable animal probiotic feed additives. However, prominent players active in the animal feed probiotics market are focusing on different growth strategies such as mergers & acquisitions, innovations, product launches, and joint ventures to overcome the challenges and attain larger market share.

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Key Players

Some of the key players in the global probiotics in animal feed market are

DuPont de Nemours, Inc. (US),
Kerry Group (Ireland),
Bluestar Adisseo Co., Ltd. (China),
Evonik Industries AG (Germany),
Land O’Lakes, Inc. (US),
Pure Cultures (US),
Alltech (US),
Lallemand Inc. (Canada),
Novus International, Inc. (US),
Koninklijke DSM N.V. (Netherlands),
Hansen Holding A/S (Denmark),
Schouw & Co. (Denmark),
Lesaffre (France),
Unique Biotech (India)
Novozymes (Denmark)

Market Segment

The global Probiotics in Animal Feed Market has been segmented based on source, form, and livestock.

Based on source, the global probiotics in animal feed market has been segmented into bacteria and yeast and fungi. The bacteria segment has been further segregated into Streptococcus, Lactobacillus, Bifidobacterium, and others. The bacteria segment is projected to account for the larger revenue share and register the higher CAGR during the forecast period as bacterial probiotic strains are highly capable of increasing immunity, yield, productivity, and gut health in animals. Additionally, bacterial strains offer higher survival rate in animal gut as compared to yeast and fungi probiotic strains, owing to which bacteria is preferred as a probiotic in animal nutrition.

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Regional Analysis

The global probiotics in animal feed market has been segmented, by region, into North America, Europe, Asia-Pacific, and the rest of the world.

Some of the strategies followed by the players operating in the market were innovations, product launches, mergers, acquisitions, and joint ventures.

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