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Global Animal Probiotics Market Projected to Augment at a Notable CAGR during th
Increase in world population and rapid economic growth is boosting the demand for livestock products, which is putting pressure on the livestock sector to produce more with limited resources. This is driving the animal probiotics market. Animal probiotics are increasingly popular as an effective alternative to the antibiotics. The Animal Probiotics Market is projected to grow in the forecast period owing to an increase in the demand for quality animal products.
In addition, the market is also expected to grow owing to an increase in awareness among consumers about prevention in healthcare and nutrition. Increasing research and development for the development of new and effective animal probiotic products for companion as well as livestock animals by the biotechnology industry and other manufacturers is creating growth opportunities for the animal probiotics market in the near future. However, rising cost and unavailability of raw material is restraining the growth of the animal probiotics market globally.
Probiotics are live microbial feed supplements that have beneficial effects on the host by improving the intestinal microbial balance. The usage of probiotics in animals is increasing owing to increasing commercial animal production operations that alter gastrointestinal flora, which helps improve animal health and animal productivity. Some of the major outcomes of animal probiotics include improvement in the growth of the animal, reduction in the mortality rate and improved efficiency in feed conversation. The application of animal probiotics provides an alternative strategy to the traditional practice of using therapeutic antibiotics. Animal probiotics help prevent diseases as well as enhance the growth of animals. Probiotics have been recently recognised by the World Health Organization and Food and Agriculture Organization as products that confer health benefits to the host when administered in adequate amounts. Animal probiotics should be non-pathogenic, non-toxic and capable of benefiting the overall health of host animals. Animal probiotics promote metabolic processes of digestion and nutrient utilization, owing to which the productive performance of most animal species that consume probiotics is improved.
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The global market for animal probiotics is increasing at a significant rate owing to the increasing usage of probiotics for the improvement of animal health as well as increased utilization of nutrients from the feed. Increasing community or regulatory pressure to reduce the usage of antibiotics in commercial animal production is driving the animal probiotics market. Increase in the need for natural animal feed additives for all types of animals as well as aquaculture production is boosting the animal probiotics market. Among all animal types, farm animals contribute the largest revenue share in the animal probiotics market as they are a major source of disposable income in developing and under-developed regions.
Geographically, the global animal probiotics market is segmented into North America, Latin America, Europe, Asia-Pacific excluding Japan (APEJ), Japan and the Middle East & Africa (MEA). Asia Pacific is expected to be the dominant market in the global animal probiotics market owing to the presence of a large number of consumers in this region. Increasing disposable income and increased middle class population are among factors driving the Asia Pacific animal probiotics market. Europe is expected to have a second-largest share in the global animal probiotics market throughout the forecast period due to a ban on the usage of antibiotics that promote the growth of animals, which has boosted the demand for animal probiotics. Middle East and Africa accounts for significant growth owing to the increased demand for meat and meat-related products. North America accounts for moderate growth owing increasing concerns of owners regarding their animals as well as increasing awareness about healthcare.
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The report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, inputs from industry experts and industry participants across the value chain. The report provides in-depth analysis of parent market trends, macro-economic indicators and governing factors along with market attractiveness as per segments. The report also maps the qualitative impact of various market factors on market segments and geographies.
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