MARKET REPORT FEED & ADDITIVE MAGAZINE October 2024 91 costs. Field probiotics also help prevent and treat diarrhea, a common health problem in livestock, and stimulate the immune response, making animals more resilient to disease. With all these qualities, probiotics can be used as an alternative to antibiotics and reduce the risk of antibiotic resistance. In conclusion, feed probiotics are a valuable addition to animal nutrition and offer many benefits that improve animal health, growth and overall productivity, while contributing to more sustainable animal farming practices. FEED PROBIOTICS MARKET AND FORECASTS The global feed probiotics market has witnessed significant growth in recent years, driven by increasing awareness about the benefits of probiotics for animal health and productivity. Market research firm Mordor Intelligence estimates that the market size will be USD 3.01 billion in 2024. Forecasting a Compound Annual Growth Rate (CAGR) of 5.09% for the forecast period 2024-2029, the company expects the total market size to reach USD 3.85 billion in 2029. The report published by Research and Markets, which is based on the 2024-2029 period (with the exception of the 5.05% CAGR forecast), also supports Mordor Intelligence's data. On the other hand, Cognitive Market Research points to higher data on the current market size and growth prospects in its recently updated report. According to the company's report, the market size will reach USD 4.98 billion by the end of 2024 and will continue to grow at a CAGR of 9.7% until 2031. This implies a market size of more than USD 9 billion. Maximize Market Research, which estimates a market size of approximately USD 4.21 billion for 2023, also supports this strong growth outlook, forecasting that the market will grow at a CAGR of 8.5% until 2030, reaching USD 7.45 billion. The report prepared by Fact.MR indicates that the global feed probiotics market will have a size of USD 3.51 billion by the end of 2024, growing at a CAGR of 6.6% between 2024 and 2034 and reaching USD 6.65 billion by the end of 2034. As the reports suggest, the global feed probiotics market is poised for significant growth. Based on the data from research companies, it is possible to estimate that the average market size will be USD 3.81 billion in 2024, the market will grow at a CAGR of approximately 6.9% during the period 2024-2030, and the total market size will exceed USD 5.7 billion in 2030. FACTORS SUPPORTING MARKET GROWTH The global feed probiotics market is experiencing strong growth due to a combination of many factors. The major factors supporting the growth of the market include: - Increasing Demand for Animal Protein World population increases and rising incomes
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