MARKET REPORT 76 FEED & ADDITIVE MAGAZINE October 2022 the probiotics in animal feed market (the market size of around US$ 4.2 billion in 2021) is expected to reach US$ 6.07 billion by 2029, at a CAGR of 7.1% during the forecast period 2022 to 2029. A similar market size is indicated in the report titled Global Probiotics in Animal Feed Market prepared by Verified Market Research. According to the report; probiotics in animal feed market size was valued at US$ 4.9 billion in 2021 and is projected to reach US$ 7.7 billion by 2030, growing at a CAGR of 7.1% from 2022 to 2030. Based on the data in all these reports, average market size for 2021 is estimated about US$ 2.7 billion. Considering that the average growth prospects are at the level of 7.5% CAGR, it can be estimated that the market will reach a size of about US$ 5.2 billion by 2030. MARKET DRIVERS & RESTRAINTS Factors such as animal performance, gut health, and restriction of antibiotic use are key factors in the increase in the use of feed probiotics. According to the SkyQuest’s report, an increase in cattle and pet owners' knowledge of the positive effects of probiotics on livestock's overall performance is the main driver driving the global feed probiotics market. Probiotics have taken center stage in the animal feed industry as a result of the strict regulatory approach taken against synthetic feed additives, which are known to have negative health effects on both humans and animals. This has accelerated feed probiotics market growth. According to the report, cattle owners and producers are now more likely to choose natural options that increase the productivity of their animals as a result of the strong growth in the consumption of animal-derived products and its optimistic future growth trajectory. Such advancements are in line with the probiotics market's sustainable rise in animal feed. The production amount and prices of feed raw materials can have restrictive effects for the probiotic market, according to SkyQuest's report. This restriction is explained in the report as follows: The global rise in raw material prices and the stricter government requirements in industrialized nations have a significant impact on the expansion of the compound feed business. The kind and quantity of feed raw materials used in feed probiotics are heavily influenced by their cost and nutritional value.
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