, April 05, 2018 ) The Latin America Animal Feed Probiotic Bacteria market
size was around USD 420 million in 2016. It is expected to grow at a CAGR of 7.7% to reach USD 610 million by 2021. It captures 12% of the global market.
The Latin America demand for probiotics in animal feed is growing significantly owing to rising awareness about animal health among breeders, growing demand for nutrient-rich feed for animals, and rising demand for quality animal feed products.
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The major restraining factor for the probiotics in animal feed is time and investment required for regulatory approval. Regulations on the maximum quantity of probiotics that can be added to animal feed, processing methods, and labelling, packaging, and storage conditions restrict the growth of the probiotics in animal feed market. Such regulations restrict new players from entering the market, thus restricting the market growth.
The market is segmented by livestock, by source and by form. By livestock the market is segmented into Cattle, Poultry, Swine, Aquaculture, Others includes pets, equine, and rabbits. The poultry segment cover the largest market share due to increased production and consumer demand for poultry meat in developing regions such as Asia-Pacific and South America. By source the market is segmented into Bacteria. Bacterial is further segmented into Lactobacilli, Streptococcus thermophiles, and Bifidobacteria. On the basis of source, the probiotics in animal feed market was led by the bacteria segment in 2016. Lactobacilli is one of the most widely commercially available sources of probiotics in animal feed. North American countries are anticipated to become major markets due to the high awareness among customers and this aids in the growth of the Latin America probiotics in animal feed market in the aforementioned forecast period. By form the market is categorized into dry and liquid. The dry form of probiotics in animal feed commanded the largest market share in 2016. Dry probiotics help in improving the shelf life of feed products, resulting in lower storage costs for feed manufacturers, thus raising the demand for dry probiotics in animal feed.
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By geography the market is segmented into Brazil, Chile, Argentina and others. It is the second fastest growing market.
The key players that are profiled in the report include Chr. Hansen A/S (Denmark), Koninklijke DSM N.V. (Netherlands), Lallemand, Inc. (Canada), Lesaffre & Cie (France), and E.I. du Pont de Nemours and Company (U.S.). Other players include Novozymes A/S (Denmark), Calpis Co., Ltd. (Japan), Land O'Lakes, Inc. (U.S.), Schouw & Co.(Denmark), Evonik Industries AG (Germany), Alltech (U.S.), and Mitsui & Co., Ltd. (Japan).
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