Yeast Probiotic Ingredient For Animal Market Size, Share, And Growth Rate Analysis 2023
The Business Research Company’s global market reports are now updated with the latest market sizing information for the year 2023 and forecasted to 2032
The Business Research Company’s yeast probiotic ingredient for animal market report forecasts the yeast probiotic ingredient for animal market size to grow to $7.88 Billion by 2027, with a CAGR (compound annual growth rate) of more than 10%.
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Yeast Probiotic Ingredient For Animal Market Size Forecast
The global yeast probiotic ingredient for animal market is expected to grow from $4.98 billion in 2022 to $5.32 billion in 2023 at a compound annual growth rate (CAGR) of 6.7%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The global yeast probiotic ingredient for animal market size is expected to reach $7.88 billion in 2027 at a CAGR of 10.3%.
North America held the largest yeast probiotic ingredient for animal market share.
Key Yeast Probiotic Ingredient For Animal Market Driver – Growth In Demand For Eggs And Poultry Meat
According to the Organisation for Economic Cooperation and Development (OECD), a France-based intergovernmental organisation aimed at stimulating economic progress and global trade, pork meat consumption increased from 106.279 million tonnes in 2020 to 108.775 million tonnes in 2021, while beef meat consumption increased from 70.882 million tonnes in 2020 to 71.451 million tonnes in 2021. As a result, rising demand for eggs and poultry meat is propelling the growth of the yeast probiotics for animal feed market.
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Key Yeast Probiotic Ingredient For Animal Market Trend – Product Innovation
Major players in the swine feed probiotic yeast market are working on increasing feed use efficiency with the probiotic yeast they provide for swine feed. For example, Phileo by Lesaffre, a French producer of animal welfare and performance solutions based on live yeasts, bacteria, and yeast products, developed Actisaf Sc 47 HR+ probiotic yeast for swine feed and poultry feed in January 2023. The Actisaf Sc 47 HR+ microspherule form was created to give inherent resistance to combined temperature, friction, and moisture in pelleting feed without the use of foreign material coating.
Yeast Probiotic Ingredient For Animal Market Segment
1) By Product Type: Live, Spent, Yeast Derivatives
2) By Genus: Saccharomyces Spp, Kluyveromyces Spp, Other Genera
3) By Livestock: Ruminants, Poultry, Swine, Aquatic Animals, Pets, Equine
Yeast Probiotic Ingredient For Animal Market Major Players and Strategies
Major players in the yeast probiotic ingredient for animal market are Chr. Hansen A/S, Koninklijke DSM N.V., DuPont de Nemours Inc., Evonik Industries AG, Mitsui & Co. Ltd., Novozymes A/S, Lallemand Inc., Kemin Industries Inc., Kerry Group PLC., Dow Inc., BASF SE, Perstorp AB, Eastman Chemical Company, Macco Organiques Inc., Hawkins Inc., Impextraco NV, Lesaffre, Calpis Co. Ltd., Alltech and Provita Eurotech Ltd.
Novozymes, a Danish biotechnology firm specialising in the research, development, and manufacture of industrial enzymes, microorganisms, and biopharmaceutical components, paid $125 million for Microbiome Labs in January 2021. Novozymes will be able to extend its product portfolio and position itself as a market leader in the North American probiotics industry as a result of this purchase. Microbiome Labs is a corporation established in the United States that specialises in probiotic bacteriotherapy.
The Yeast Probiotic Ingredient For Animal Global Market Report 2023 covers regional data on yeast probiotic ingredient for animal market size, yeast probiotic ingredient for animal market trends and drivers, opportunities, strategies, and yeast probiotic ingredient for animal market competitor analysis. The countries covered in the yeast probiotic ingredient for animal market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, the UK, and the USA, and the major seven regions are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa.
The yeast probiotics for animal feed are a live microbial feed supplement that improves the host animal’s intestinal equilibrium. Probiotics are used in animal feed and are thought to stimulate growth and wellness.
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