Probiotics in animal feed market to reach $7.3 billion in 5 years
by Katie Pfaff
According to a new report organized by livestock market analytics company, MarketsandMarkets, forecasts the global probiotics in animal feed market are to grow at a CAGR of 8.8% by 2026. The increase is based on an estimated 2020 global value of $4.4 billion and a 2021 value of $4.8 billion. The market is anticipated to reach a $7.3 billion value by 2026.
Growth is expected based on several factors, including awareness and concern about livestock disease and health and the proliferation of animal processing through industrial farms. Livestock is defined in the report as aquaculture, pets, poultry, ruminants, and swine.
Poultry is expected to grow as the segment represented the largest portion of the market in past years. The 2020 data indicated that the poultry segment took the largest revenue share of the probiotics in the animal feed market. According to the report, young poultry is aided by probiotics as a method to introduce and stabilize intestinal bacteria. At the same time, the yeast segment takes the lead in terms of growth speed during the period examined in the report.
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