Probiotics are nothing but good helpful microorganisms such as bacteria, yeast, and fungi induced in the animal nutritional supplement. Bacteria strains, including bifidobacteria, lactobacilli, and streptococcus thermophilus, are utilized in the animal feed industry due to their health benefits like the promotion of gut health along with increased immunity, productivity, also overall performance of the animals. There is an increase in focus by farmers on animal health, mainly to prevent disease outbreaks, and that is why they prefer probiotics in animal feed. This is further creating an opportunity for this market to grow.
The "Global Probiotics in Animal Feed Market Analysis to 2028" is a specialized and in-depth study of the food and beverage industry with a special focus on the global market trend analysis. The report aims to provide an overview of the probiotics in animal feed market with detailed market segmentation by type, category, distribution channel, and geography. The report provides key statistics on the market status of the leading probiotics in animal feed market players and offers key trends and opportunities in the market.
- Based on source, the global probiotics in animal feed market is segmented into bacteria, yeast, and fungi
- Based on livestock, the global probiotics in animal feed market is segmented into poultry, swine, ruminants, aquaculture, and others
- Based on form, the market is bifurcated into dry and liquid
- Increasing demand for animal-based products such as eggs, milk, meat, and wool
- Growing awareness about the benefits of probiotics in animal nutrition
- Rising concerns regarding animal health
- Implementation of stringent norms and quality standards by government regarding the usage of probiotics in animal nutrition may restrict the market growth.
The report provides a detailed overview of the industry, including both qualitative and quantitative information. It provides an overview and forecast of the global market based on various segments. It also provides market size and forecast estimates from the year 2019 to 2028 with respect to five major regions, namely, North America, Europe, Asia-Pacific (APAC), the Middle East and Africa (MEA), and South America. The probiotics in animal feed market by each region is later sub-segmented by respective countries and segments. The report covers the analysis and forecast of 18 countries globally along with the current trend and opportunities prevailing in the region.
The report analyzes factors affecting the market from both the demand and supply side and further evaluates market dynamics affecting the market during the forecast period, i.e., drivers, restraints, opportunities, and future trends. The report also provides exhaustive PEST analysis for all five regions, namely; North America, Europe, APAC, MEA, and South America, after evaluating political, economic, social, and technological factors affecting the probiotics in animal feed market in these regions.
IMPACT OF COVID-19 ON PROBIOTICS IN ANIMAL FEED MARKET
As of June 2021, the US, India, Brazil, Russia, Spain, France, the UK, Turkey, and Italy, are some of the worst affected countries in terms of confirmed cases and reported deaths. The COVID-19 is affecting economies and several industries in different countries due to lockdowns, travel bans, and business shutdowns. The shutdown of various manufacturing plants and factories has also been affected the global supply chains also negatively impacted the manufacturing, delivery schedules, and sales of goods in the global market. In addition, the global travel bans further imposed by countries in Europe, Asia-Pacific, and North America are also affecting business collaborations as well as partnership opportunities.
Due to the Covid-19 pandemic, the food and beverage industry is also facing huge losses, which is further impacting the world economy. It has further disrupted the transportation system and disrupted the supply of raw materials. The disruptive value chain has had a negative impact on the raw material supply, which, in turn, is impacting the growth of the probiotics in animal feed market. However, as the economies are planning to revive their operations, the demand for probiotics in animal feed is presumed to rise since consumers are buying food products through online retailers and increasing demand for more food products. Some of the safety measures followed by the food processing companies include limiting direct contact with delivery person & visitors, strengthening & communicating proper hygiene practices, and conducting complete sanitations & eliminating personnel contact during shift changes. With all these factors, it can be presumed that in post-pandemic times, the demand for these products will take a hike.
The report covers key developments in the probiotics in animal feed market as organic and inorganic growth strategies. Various companies are focusing on organic growth strategies such as product launches, product approvals, and others such as patents and events. Inorganic growth strategies activities witnessed in the market were acquisitions and partnership & collaborations. These activities have paved the way for the expansion of business and the customer base of market players. The market players from the probiotics in animal feed market are anticipated to lucrative growth opportunities in the future with the rising demand for probiotics in animal feed in the global market.
The report also includes the profiles of key companies along with their SWOT analysis and market strategies in the probiotics in animal feed market. In addition, the report focuses on leading industry players with information such as company profiles, components, and services offered, financial information of the last three years, the key development in the past five years.
- Chr. Hansen A/S
- DowDuPont Inc.
- Evonik Industries AG
- Kerry Group plc
- Koninklijke DSM N.V.,
- Land O'Lakes, Inc.
- Mitsui & Co., Ltd.
- Novozymes A/S
- Schouw & Co.
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