Increase in demand for meat & milk and rise in need for probiotics to save overall costs drive the growth of the global direct fed microbial market.
According to the report published by Allied Market Research, the global direct fed microbial market garnered $980 million in 2018, and is expected to generate $1.77 billion by 2026, registering a CAGR of 7.5% from 2019 to 2026. The report offers an extensive analysis of changing market dynamics, key winning strategies, business performance, major segments, and competitive scenario.
Increase in demand for meat & milk and rise in need for probiotics to save overall costs drive the growth of the global direct fed microbial market. However, surge in production cost hinders the market growth. On the other hand, increase in concerns related to the usage of antibiotics for animals create new opportunities in the coming years.
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Covid-19 scenario:
- Coronaviruses are zoonotic, which implies that they are transmitted between animals and people. Therefore, livestock owners are more conscious during the coronavirus pandemic, which in turn, increased the demand for direct fed microbial supplements.
- Moreover, the animal feed or animal medicines comes under the essential services category, therefore the supply chain and manufacturing activities have been impacted to very less extent during the Covid-19 outbreak.
The report offers a detailed segmentation of the global direct fed microbial market based on product type, livestock, and region.
Based on product type, the majority of share was contributed by the lactic acid bacteria segment. It accounted for more than three-fifths of the total share in 2018, and is estimated to maintain its lead position during the forecast period. Furthermore, the same segment is anticipated to grow at the highest CAGR of 7.9% during the forecast period. The research also discusses segments including bacillus and others.
Based on livestock, the majority of share was contributed by the poultry segment, accounting for nearly one-third of the total share in 2018, and is expected to maintain its dominance by 2026. In addition, the same segment is estimated to portray the highest CAGR of 8.5% from 2019 to 2026. The report also analyzes segments including swine, ruminants aquatic animals, and others.
Based on region, North America will maintain its dominance throughout the forecast period and contributed the majority share in 2018, which is more than one-third of the total market share. However, Asia-Pacific is projected to grow at the largest CAGR of 8.1% during the forecast period.
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The market report provides an in-depth analysis of the major market players such as
Koninklijke DSM N. V, Archer-Daniels-Midland Company, Bio-Vet, E. I. Du Pont De Nemours And Company, CHR. Hansen A/S, Kemin Industries, Inc., Novozymes A/S, Evonik Industries Ag, BASF SE (BASF Corporation), and Adisseo.
Scope of The Report:
| Report Attribute | Details |
| Market size available for years | 2018-2026 |
| Base year considered | 2019 |
| Forecast period | 2019-2026 |
| Forecast units | Value (USD) |
| Segments covered | Product Type, Livestock |
| Geographies covered | North America, Europe, Asia-Pacific, LAMEA |
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