The animal feed probiotics market value is expected to total US$ 3,113.3 Mn in 2021, according to Future Market Insights (FMI). The overall animal feed probiotics market value is expected to reach US$ 6,997.2 Mn by 2031, growing at a CAGR of 8.4%.
Over the last decade, the rise in the number of homes with pets has played a crucial part in maintaining the pet population size. During this time, the number of homes with more than one dog increased by five million, compared to a 4.8 million increase in the number of families with only one dog. Along with this, there is growing evidence supporting the use of animal feed probiotics for companion animals such as cats and dogs.
Giving good bacteria to a companion animal may also have a positive impact on chronic gastro-intestinal illnesses, mental attitude, obesity, liver disease, dental disease, and behavior difficulties.
A daily feed probiotic supplement may also provide some additional benefits for dogs, including enhanced skin and coat appearance, reduced intestinal gas, and improved breath, among other things.
Thus, the rising pet population along with growing awareness about the animal health is driving the market growth.
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Key Takeaways from the Animal Feed Probiotics Market Study:
- On the basis of animal type, demand in livestock segment is expected to grow at a CAGR 6.7% over the forecast period and to be valued at US$ 3,483.9 Mn by 2031 end.
- Companion animals, equine and aquaculture combined are responsible for approximately 25.7% of the market in 2021. Demand from companion animals is expected to expand at 13.7% CAGR over the forecast period and to be valued at US$ 1,533.8 Mn by 2031 end.
- Equine is estimated to account for 5.0%, revenue share of the global animal feed probiotics market by 2021 end and is expected to gain 65 bps in its market share by 2031 over 2021. Aquaculture is expected to create absolute $ opportunity of US$ 377.6 Mn between 2021 and 2031.
Clear and Exclusive Information about Ingredients Used on Package Attracts More Customers
Consumers have become increasingly conscious about what they feed their pets and domestic animals in recent years. Customers appreciate a box that includes information on the product’s features and benefits. The information on a box should be correct, exclusive, and displayed clearly because buyers spend relatively little time looking at it. This can also help the buyer make more informed decision.
Furthermore, one method of giving nutritional information on animal feed probiotics is to use images to indicate the ingredients as well as the elements that are not contained in them. As a result, packaging design has begun to incorporate narrative illustration in the form of a storey using graphics.
Who is winning?
Technological advances in the field of molecular biology and gene sequencing have enabled researchers and scientists to create new probiotic compositions that are more animal-friendly.
Although probiotic supplements are unquestionably good for animal growth and intestinal health, consumers nonetheless face a number of adverse consequences on animal growth. Over the projection period, the growth of new generation technology is reforming the animal feed probiotics market, creating improved prospects.
Some of the leading companies offering animal feed probiotics are Alltech, Danisco Animal Nutrition (Dupont), Chr. Hansen Holding A/S, Evonik Industries AG, Novus International, Inc., Royal DSM, Lallemand, Pure Cultures LLC, Calpis Co., Ltd., Adisseo, and Others.
Key Points Covered in Animal Feed Probiotics Market Study
- Animal Feed Probiotics Market estimates and forecast 2015-2031
- Key drivers and restraints impacting Animal Feed Probiotics Market growth
- Segment-wise, Country-wise, and Region-wise Analysis
- Competition Mapping and Benchmarking
- Brand share and Market Share Analysis
- Key Product Innovations and Regulatory Climate
- COVID-19 Impact on Animal Feed Probiotics Market and How to Navigate
- Recommendation on Key Winning Strategies
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Key Questions Answered in Animal Feed Probiotics Market Report
- Which regions will continue to remain the most profitable regional markets for animal feed probiotics market players?
- Which factors will induce a change in the demand for animal feed probiotics during the assessment period?
- How will the changing trends impact the animal feed probiotics market?
- How can market players capture the low-hanging opportunities in the animal feed probiotics market in developed regions?
- Which companies are leading the animal feed probiotics market?
- What are the winning strategies of stakeholders in the animal feed probiotics market to upscale their position in this landscape?
About Future Market Insights
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