The animal feed probiotic market is projected to be valued at USD 3,645 million in 2024 and is expected to rise to USD 6,798 million by 2034. The global animal feed probiotic industry is expected to grow at a CAGR of 6.4% during the forecast period.
Key Market Drivers:
The animal feed probiotic market generated an estimated CAGR of 6.3% in 2019. In five years, the market grew at a pace of 6.4% CAGR and added a staggering revenue of USD 3,645 million in 2024, predicted to reach USD 6,798 million in the forecast period. Several reasons can be attributed to this growth:
Attributes | Key Statistics |
---|---|
Expected Base Year Value (2024) | USD 3,645 million |
Anticipated Forecast Value (2034) | USD 6,798 million |
Estimated Growth (2024 to 2034) | 6.4% CAGR |
Don't pay for what you don't need
Customize your report by selecting specific countries or regions and save 30%!
The animal feed probiotics market is subject to the multifaceted impact of pandemics and market fluctuations, which were influenced by various factors such as disruptions in the supply chain, changes in consumer behavior, and broader economic trends. The market dynamics have evolved since January 2022. Supply chain disruptions have adversely affected the sourcing and transporting raw materials used to produce animal feed probiotics. Temporary shortages, increased prices, and challenges maintaining consistent product quality were the challenges faced back.
Some consumers prioritized essential goods, while others continued to seek high-quality and health-enhancing products, including those focused on animal nutrition. The resilience of the animal feed probiotics market depends on its ability to align with evolving consumer preferences and adapt to changing economic conditions.
Market fluctuations and economic uncertainties can impact farmers' purchasing decisions, affecting the livestock farming sector. Farmers may be more cost-conscious during economic downturns, potentially influencing their choice of feed additives.
Attributes | Key Statistics |
---|---|
Estimated Growth (2019 to 2023) | 6.2% CAGR |
Forecast Value (2023) | USD 3,594 million |
The animal feed probiotics market is anticipated to surpass a global valuation of USD 6,798 million by 2034, with a growth rate of 6.4% CAGR. While the market is expected to experience substantial growth, several restraining factors could adversely affect its development:
Attributes | Details |
---|---|
Source | Bacteria |
Market Share | 55.1% |
Based on the source, bacterial source dominates the global market with a market share of 55.1%. This rising popularity is attributed to:
Attributes | Details |
---|---|
Animal | Livestock |
Market Share | 34% |
On the basis of animals, the livestock section dominates the global market with a market share of 34%. This is primarily due to:
Get the data you need at a Fraction of the cost
Personalize your report by choosing insights you need
and save 40%!
The section analyzes the animal feed probiotics market by country, including China, the United States, India, Japan, and Brazil. The table presents the CAGR for each country, indicating the expected market growth in that country through 2034.
Countries | CAGR |
---|---|
China | 6.5% |
United States | 5.1% |
India | 6.7% |
Japan | 8.0% |
Brazil | 4.5% |
China is one of the Asian countries that leads the animal feed prebiotic market. The market in China is anticipated to retain its dominance by progressing at an annual growth rate of 6.5% till 2034.
Japan is another Asian country leading the global animal feed prebiotic market. The Japanese Animal Feed Probiotic Market is anticipated to register a CAGR of 8.0% through 2034.
The United States dominates the animal feed prebiotic market in the North American region. The United States animal feed prebiotic market is anticipated to exhibit an annual growth rate of 5.1% till 2034.
India is another Asian country leading the global animal feed prebiotic market. The Indian animal feed prebiotic market is anticipated to register a CAGR of 6.7% through 2034.
Brazil is another country surging the animal feed prebiotic market. The Brazilian animal feed prebiotic market is predicted to register a CAGR of 4.5% through the forecast period.
The global animal feed prebiotic market is highly fragmented, with key players such as Koninklijke DSM N.V., Alltech, Inc., Chr. Hansen Holding A/S, E. I. du Pont de Nemours and Company, Evonik Industries AG, etc. Koninklijke DSM N.V. is a company that provides cutting-edge animal nutrition solutions, including probiotics that enhance gut health and performance. It is also a global leader in microbial solutions that offer innovative bacterial probiotics to support the development of balanced gut microbiota. Additionally, a key player in the specialty chemicals industry provides advanced amino acid-based probiotics to address the evolving needs of the animal feed industry.
Recent Developments:
The global animal feed probiotic market is expected to be worth USD 3,645 million by 2024.
The market for animal feed probiotics is expected to reach USD 6,798 million by 2034.
The animal feed probiotic market is growing at a CAGR of 6.4% from 2024 to 2034.
Some of the key players in the market are Koninklijke DSM N.V., Alltech, Inc., Chr. Hansen Holding A/S, E. I. du Pont de Nemours and Company, Evonik Industries AG, etc.
Bacterial is the most preferred source, dominating the market with a 55.1% share.
1. Executive Summary 2. Market Overview 3. Market Background 4. Global Market Analysis 2019 to 2023 and Forecast, 2024 to 2034 5. Global Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By Source 5.1. Bacteria 5.2. Non-Bacteria 6. Global Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By Animal 6.1. Companion Animal 6.2. Livestock 6.3. Equine 6.4. Swine 6.5. Aquaculture 7. Global Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By Form 7.1. Liquid 7.2. Dry 8. Global Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By Sales Channel 8.1. Modern Trade 8.2. Direct Sales 9. Global Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By Region 9.1. North America 9.2. Latin America 9.3. Western Europe 9.4. Eastern Europe 9.5. South Asia and Pacific 9.6. East Asia 9.7. Middle East and Africa 10. North America Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By Country 11. Latin America Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By Country 12. Western Europe Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By Country 13. Eastern Europe Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By Country 14. South Asia and Pacific Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By Country 15. East Asia Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By Country 16. Middle East and Africa Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By Country 17. Key Countries Market Analysis 18. Market Structure Analysis 19. Competition Analysis 19.1. Chr. Hansen Holding A/S 19.2. Nestle SA 19.3. Adisseo France SAS 19.4. Novus International, Inc. 19.5. Calpis Co., Ltd. 19.6. Lallemand Inc. 19.7. DuPont Company 19.8. Evonik Industries AG 19.9. Koninklijke DSM N.V. 19.10. Kerry Group plc 19.11. Alltech, Inc. 20. Assumptions & Acronyms Used 21. Research Methodology
Explore Food and Beverage Insights
View Reports