MARKET REPORT FEED & ADDITIVE MAGAZINE October 2022 75 tibiotics. According to the Natural Resources Defense Council, in the U.S., antibiotic resistance causes more than 2.8 million infections and leads to between 35,000 and 162,000 deaths of animals each year. Thus, alternative control and management measures are required to effectively manage antibiotic resistance. The increasing need for alternative control and management measures boosts the demand for environmentally friendly treatments to control antibiotic-resistant diseases in animals, driving the demand for probiotics.3 Today, most probiotics used in animal nutrition are generated commercially and sold in liquid and solid forms. The various sources of probiotics in animal feed include bacteria, yeast, and fungi. They are used in the feed of cattle, poultry, swine, aquaculture, etc. MARKET GROWTH EXPECTATIONS We compared the reports of 5 different research companies to determine the current size and growth prospects of the global feed probiotics market. While growth prospects are similar on a percentage basis, forecasts for market size in 2021, and therefore the results of growth-related expectations, differ widely. For example; according to the Global Feed Probiotics Market report prepared by SkyQuest, the global feed probiotics market was valued at US$ 1.19 billion in 2021, and it is expected to reach a value of US$ 1.93 billion by 2028, at a CAGR of 7.2% over the forecast period (2022-2028). The report titled Global Feed Probiotics Market prepared by Dataintelo also points to a similar market size. According to the report; the global feed probiotics market size was valued at US$ 1.2 billion in 2021 and is projected to reach US$ 2.3 billion by 2030, growing at a CAGR of 7.5% during the forecast period. Business Research Company's report titled Probiotics in Animal Feed Global Market refers to a much higher size. According to the report; the market is expected to grow from US$ 3.8 billion in 2021 to US$ 4.2 billion in 2022 at a CAGR of 9.6%. And the market is expected to reach US$ 5.6 billion in 2026 at a CAGR of 7.5%. Another report that supports this size is Animal Feed Probiotics Market by Future Market Insights. According to the report; the animal feed probiotics market value is expected to total US$ 3.1 billion in 2021. The overall animal feed probiotics market value is expected to reach US$ 6.9 billion by 2031, growing at a CAGR of 8.4%. There are also reports that refer to higher figures on market size. One of them was prepared by Reserved Meticulous Market Research. According to the company's report titled Animal Feed Probiotics Market;
RkJQdWJsaXNoZXIy MTUxNjkxNQ==