Prebiotics in Animal Feed Market to Reach US$ 494.9 Mn by 2022
According to a new market research report published by Credence Research “Prebiotics In Animal Feed Market (Insulin, Mannan oligosaccharides (MOS), Galacto oligosaccharides (GOS),Fructo Oligosaccharide (FOS) and Other – Growth, Share, Opportunities, Competitive Analysis, and Forecast 2015 – 2022”the global prebiotics in animal feed market was valued at US$ 220.3Mn in 2014 and is estimated to expandwith a CAGR of 11.2% from 2015 to 2022.
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The global market for prebiotics in animal feed is majorly backed by the rise in consumption of meat across the globe. Furthermore, multiple health benefits associated with prebiotics when use in animal feedsuch as better digestion, enhancing animal performance and the immune systemis another factor propelling the demand for prebiotics in animal feed.
During the past decade, due to their therapeutic effects antibiotics have been widely used in livestock diets. Nevertheless, due to concern regarding the usage of antibiotic in animal feed might contribute to an increase of bacterial antibiotic resistance, some countries had restricted the use of some types of antibiotics.
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In 2006, European Union (EU) has introduced anoverall ban on the usage of antibiotics as feed additives. Thus prebiotics, have emerged as an alternative to antibiotics in animal feed which can not only reduce enteric diseases in livestock animal but also enhance their productivity. Thus, the ban impose on usage of antibiotics in animal feed by many countrieswill also drive the overall market demand for prebiotics in animal feed.
Stringent government guidelines regarding the approval and usage of prebiotics in animal feed coupled up with greater market visibility and shelf space of probiotics is significantly hampering the market growth. However, increasing awareness regarding the health benefits associated with the usage of prebiotics in animal feed is projected to fuel the market demand in the near future.
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The global market is highly fragmented due to presence of various multinational and regional players. Therefore, none accounts for significant share of the market pie. The market is characterized by a moderate level of forward and backward integration. Some of the key players present in this market are Beghin Meiji, FrieslandCampina Domo, Cargill Incorporated, Paramus and Abbott Laboratories.
Geographical expansion through organic as well as inorganic growth
Focus on enhancing different product/ ingredients type of prebiotics
Rising awareness regarding the benefits associated with prebiotics in animal feed will fuel the market growth
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