Multi-pet Households Presenting Lucrative Opportunity for Manufacturers Operating Animal Feed Probiotics Market says FMI
Over the last decade, the rise in the number of homes with pets has played a crucial part in maintaining the pet population size. During this time, the number of homes with more than one dog increased by five million, compared to a 4.8 million increase in the number of families with only one dog. Along with this, there is growing evidence supporting the use of animal feed probiotics for companion animals such as cats and dogs.
Animal Feed Probiotics Market
A recent market study published by Future Market Insights on the animal feed probiotics ma...
Giving good bacteria to a companion animal may also have a positive impact on chronic gastro-intestinal illnesses, mental attitude, obesity, liver disease, dental disease, and behavior difficulties.
A daily feed probiotic supplement may also provide some additional benefits for dogs, including enhanced skin and coat appearance, reduced intestinal gas, and improved breath, among other things.
Thus, the rising pet population along with growing awareness about the animal health is driving the market growth.
Key Takeaways from the Animal Feed Probiotics Market Study:
On the basis of animal type, demand in livestock segment is expected to grow at a CAGR 6.7% over the forecast period and to be valued at US$ 3,483.9 Mn by 2031 end.
Companion animals, equine and aquaculture combined are responsible for approximately 25.7% of the market in 2021. Demand from companion animals is expected to expand at 13.7% CAGR over the forecast period and to be valued at US$ 1,533.8 Mn by 2031 end.
- Equine is estimated to account for 5.0%, revenue share of the global animal feed probiotics market by 2021 end and is expected to gain 65 bps in its market share by 2031 over 2021. Aquaculture is expected to create absolute $ opportunity of US$ 377.6 Mn between 2021 and 2031.
“The retail industry has become more organized and it is predicted to grow across a variety of consumer product categories. The global animal feed probiotics market is predicted to be driven by the expansion of global retail chains, both physical and digital, as well as the expansion of product lines.” said a lead analyst at FMI.
Clear and Exclusive Information about Ingredients Used on Package Attracts More Customers
Consumers have become increasingly conscious about what they feed their pets and domestic animals in recent years. Customers appreciate a box that includes information on the product's features and benefits. The information on a box should be correct, exclusive, and displayed clearly because buyers spend relatively little time looking at it. This can also help the buyer make more informed decision.
Furthermore, one method of giving nutritional information on animal feed probiotics is to use images to indicate the ingredients as well as the elements that are not contained in them. As a result, packaging design has begun to incorporate narrative illustration in the form of a storey using graphics.
Who is winning?
Technological advances in the field of molecular biology and gene sequencing have enabled researchers and scientists to create new probiotic compositions that are more animal-friendly.
Although probiotic supplements are unquestionably good for animal growth and intestinal health, consumers nonetheless face a number of adverse consequences on animal growth. Over the projection period, the growth of new generation technology is reforming the animal feed probiotics market, creating improved prospects.
Some of the leading companies offering animal feed probiotics are Alltech, Danisco Animal Nutrition (Dupont), Chr. Hansen Holding A/S, Evonik Industries AG, Novus International, Inc., Royal DSM, Lallemand, Pure Cultures LLC, Calpis Co., Ltd., Adisseo, and Others.
Get Valuable Insights into Animal Feed Probiotics market
Future Market Insights, in its new offering, provides an unbiased analysis of the animal feed probiotics market presenting historical demand data (2016-2020) and forecast statistics for the period from 2021-2031. The study divulges compelling insights on the animal feed probiotics market based on source (bacteria and non-bacteria), and by animal (companion animal, livestock, equine, swine, and aquaculture), by form (liquid and dry), by distribution channel (modern trade, direct sales, speciality stores, convenience store, and online retailers), and across eight major regions.
About Food Market Division at FMI
Expert analysis, actionable insights, and strategic recommendations – the food & beverage team at Future Market Insights helps clients from across the globe with their unique business intelligence needs. With a repertoire of over 1,000 reports and 1 million+ data points, the team has analysed the food & beverage industry lucidly in 50+ countries for over a decade. The team provides end-to-end research and consulting services; reach out to explore how we can help.
About Future Market Insights (FMI)
Future Market Insights (FMI) is a leading provider of market intelligence and consulting services, serving clients in over 150 countries. FMI is headquartered in Dubai, and has delivery centers in the UK, U.S. and India. FMI's latest market research reports and industry analysis help businesses navigate challenges and make critical decisions with confidence and clarity amidst breakneck competition. Our customized and syndicated market research reports deliver actionable insights that drive sustainable growth. A team of expert-led analysts at FMI continuously tracks emerging trends and events in a broad range of industries to ensure that our clients prepare for the evolving needs of their consumers.
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