High demand for meat and dairy products and ban on use of antibiotics in animal feed are some factors fueling growth of probiotics in animal feed market
New York, New York--(Newsfile Corp. - April 19, 2021) - The global probiotics in animal feed market size is expected to reach USD 8.8 billion in 2028 and register a CAGR of 7.4%, according to the latest report by Reports and Data. Increasing consumption of animal-based products and rising focus on nutritive diets for livestock are key factors driving market revenue growth.
Market size: USD 4.96 in 2020, Market Growth: CAGR of 7.4%, Market Trends: Rising awareness about animal diseases among livestock farmers and pet owners
Probiotics are live organisms that are added to animal feed as supplements to provide better nutrition, improve the gut flora, and enhance overall immunity of animals. These organisms not only maintain the microbial flora in intestinal tract, but also enable development of resistance against harmful pathogens. Growing demand for probiotics in animal feed is due to positive effect of probiotic consumption on animal health. Moreover, implementation of a ban on antibiotics usage in animal feed has opened up new growth opportunities for key players to invest and develop improved probiotics going ahead.
However, high costs associated with R&D for developing probiotic strains and implementation of strict norms and quality checks regarding probiotics usage are some crucial factors expected to restrain growth of the probiotics in animal feed market during the forecast period.
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Some key highlights from the report:
Key players in the global probiotics in animal feed market are:
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For this study, Reports and Data has segmented the global probiotics in animal feed market based on source, form, livestock, and region:
Based On Source: (Revenue, USD Billion, 2018 - 2028)
Based On Form: (Revenue, USD Billion, 2018 - 2028)
Based On Livestock: (Revenue, USD Billion, 2018 - 2028)
Based On Region: (Revenue, USD Billion, 2018 - 2028)
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