DUBLIN, March 12, 2024 /PRNewswire/ — The “Feed Probiotics – Market Share Analysis, Industry Trends & Statistics, Growth Forecasts 2017 – 2029” report has been added to ResearchAndMarkets.com’s offering.
The Feed Probiotics Market size is estimated at USD 3.01 billion in 2024, and is expected to reach USD 3.85 billion by 2029, growing at a CAGR of 5.05% during the forecast period (2024-2029).
The global feed additives market has seen a significant increase in the consumption of probiotics. In 2022, probiotics held a market share of 8.3%. This is due to their ability to enhance the growth and production of animals, protect against pathogens, improve bone strength, enhance the immune system, and fight parasitism. The market is expected to grow and register a CAGR of 5.1% during the forecast period.
Bifidobacteria and lactobacilli are the two major sub-additives consumed globally, together accounting for 63.5% of the global feed probiotics market in 2022. Lactobacilli stimulate the digestive system, fight disease-causing bacteria, and help produce vitamins. Bifidobacteria helps in weight gain and improve animal health.
Poultry birds were the largest animal type segment in the global feed probiotics market, accounting for 46.8% of the market share by value in 2022. The increased usage of feed probiotics in poultry birds is due to their ability to promote growth performance and overall health.
The largest consumers of feed probiotics globally are Asia-Pacific and North America. In 2022, the United States held the largest market share, accounting for 70.0% of the North American feed probiotic market. In the Asia-Pacific region, China is the major market for feed probiotics, accounting for 43.9% of the region’s feed probiotics market by value. This is due to the high livestock population in the country, with China accounting for 41.0% of the Asia-Pacific’s poultry population in 2022.
Therefore, the use of probiotics in feed additives is expected to grow due to their ability to improve the digestive system, prevent diseases, and increase feed production. This provides an opportunity for manufacturers to expand their offerings.
The global feed probiotics market is expected to register a CAGR of 5.1% during the forecast period, driven by the growing concerns of rising productivity, increasing global population, and urbanization. The increased consumption of meat and dairy products is also expected to fuel the market’s growth.
Global Feed Probiotics Market Trends
High demand for animal protein and poultry products such as eggs with increasing investment in poultry sector is increasing poultry population
The poultry population has witnessed a significant increase in recent years, primarily due to the growing demand for chicken meat and eggs in daily diets. The shift toward poultry products has been driven by the increasing prices of other meat, such as pig meat, in the United States. For instance, the consumption of eggs in Europe increased by 4.6% between 2017 and 2021, accounting for 6,135 metric tons in 2021.
Asia-Pacific was the largest producer of poultry birds, with production increasing by 6.6% in 2022 compared to 2017. The rise in poultry production is due to the growing demand for animal protein following the outbreak of African Swine Fever, which has reduced the pork meat supply. China accounts for 40% of the global production, has more than 900 million stock-laying hens, and its largest layer poultry farming center can hatch 60 million chicks per year.
The Middle Eastern region is also expected to witness growth in poultry production in the forecast period (2023-2029). Companies such as Almarai in Saudi Arabia have invested heavily in the industry, with USD 1.12 billion spent on establishing new farms to expand production.
The increasing demand for poultry products, coupled with rising investments in the poultry industry, is expected to strengthen the growth of feed production. This, in turn, is expected to drive the demand for feed additives in the global market during the forecast period. Overall, the poultry industry is poised for significant growth in the coming years, driven by the shift toward poultry products and increasing investments in the sector.
The growing demand for seafood consumption in Asia-Pacific and South America, and government initiatives is increasing the feed production for aquaculture species
The demand for feed is rapidly increasing due to the expansion of aquaculture, which is driving the growth of compound feed production. In 2022, compound feed production increased by 13.1% from the previous year, and fish feed production increased by 46.3% between 2017 and 2022. The rise in consumption of fish feed is driven by the need to maintain and improve the performance of aquatic animals and increase productivity to meet the growing demand for seafood.
Fish feed accounted for 73.2% of the global market in 2022, as fish is highly consumed and produced in the Asia-Pacific region. Fish is followed by shrimp and other aquatic species in the global market, with shrimp being highly imported by European countries and the United States from other regions. To meet the growing demand for seafood, countries are focusing on expanding aquaculture production. For instance, India increased its budget allocation to the Department of Fisheries from USD 114.1 million in 2020 to USD 168.8 million in 2021 to increase production, which is expected to boost the demand for feed during the forecast period.
South America is also experiencing an increase in feed production, which rose by 46.4% in 2022 from 2017 to reach 5.1 million metric tons due to the expansion of aquaculture farming. The region is one of the major seafood-consuming regions, and the increasing demand for seafood is driving aquaculture production.
As aquaculture continues to expand to meet the growing demand, the development of the industry and a focus on its expansion are expected to fuel the growth of feed production. This increase in feed production for aquatic species is expected to aid in the growth of the aquatic segment during the forecast period.
The Feed Probiotics Market is moderately consolidated, with the top five companies occupying 51.7%. The major players in this market are Adisseo, Cargill, DSM Nutritional Products, Evonik Industries and IFF.
Key Topics Covered:
1 EXECUTIVE SUMMARY and KEY FINDINGS
2 REPORT OFFERS
3 INTRODUCTION
4 KEY INDUSTRY TRENDS
4.1 Animal Headcount
4.2 Feed Production
4.3 Regulatory Framework
4.4 Value Chain & Distribution Channel Analysis
5 MARKET SEGMENTATION
5.1 Sub Additive
5.1.1 Bifidobacteria
5.1.2 Enterococcus
5.1.3 Lactobacilli
5.1.4 Pediococcus
5.1.5 Streptococcus
5.1.6 Other Probiotics
5.2 Animal
5.2.1 Aquaculture
5.2.2 Poultry
5.2.3 Ruminants
5.2.4 Swine
5.2.5 Other Animals
5.3 Region
6 COMPETITIVE LANDSCAPE
6.1 Key Strategic Moves
6.2 Market Share Analysis
6.3 Company Landscape
6.4 Company Profiles
Adisseo
Cargill
CHR. Hansen
DSM Nutritional Products
Evonik Industries
IFF
Kemin Industries
Kerry Group
Lallemand
MIAVIT Stefan Niemeyer
For more information about this report visit https://www.researchandmarkets.com/r/3psnvl
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