COVID-19 Impact On Probiotics in Animal Feed Industry Share, Future Trends & Growth Opportunities, Size, Forecast To 2024

 Market Highlights

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. The 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. Manufactures are witnessing challenges in their growth in the global Probiotics in Animal Feed Industry Share 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.

Based on livestock, the global probiotics in animal feed market has been segmented into swine, poultry, ruminants, aquaculture, and others. The poultry segment is expected to gain the largest revenue share of the global probiotics in animal feed market and is expected to maintain its dominance during the forecast period owing to the high demand for protein-rich products such as eggs and poultry meat.

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), Chr. Hansen Holding A/S (Denmark), Schouw & Co. (Denmark), Lesaffre (France), Unique Biotech (India), and Novozymes (Denmark).

Browse Full Report Details @ https://www.marketresearchfuture.com/reports/probiotics-animal-feed-market-8127

 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.

The market in Asia-Pacific is expected to account for the largest market share and register the highest CAGR of the global probiotics in animal feed market due to the increasing consumption of poultry products in the region. Additionally, the growth of the region can be attributed to the presence of large number of livestock in the developing economies of Asia-Pacific including China, India, Bangladesh, Vietnam, and Indonesia.

About Market Research Future

At Market Research Future (MRFR), we enable our customers to unravel the complexity of various industries through our Cooked Research Report (CRR), Half-Cooked Research Reports (HCRR), Raw Research Reports (3R), Continuous-Feed Research (CFR), and Market Research & Consulting Services.

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