Fermented Ingredients for Animal Feed Being Widely Adopted Across the Feed Industry
With a rise in the per capita disposable income and the urban population the consumption and demand for good quality and healthy livestock has increased manifold. This has further propelled the need for improvement in animal health and introduction of sustainable feed production systems, so as to boost the quality of animal protein for consumption.
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To address the growing demand for healthy animal protein, governments across the world are investing in the livestock sector. Several favorable initiatives and trade policies have been introduced and implemented to strengthen the livestock industry.
Companies investing in the agriculture and livestock industry are focusing on enhancing the nutritional value of animal feed along with reducing the cost of production. The use of fermented ingredients for animal feed is one of the latest trends in the feed industry and has become popular among farmers.
Keeping abreast with the latest trends and technology, BIS Research recently published a market intelligence report titled “Global Fermented Feed Ingredient Market — Analysis and Forecast (2018–2023),” providing key insights about the emerging fermented feed ingredients market.
The published report provides an estimation about the overall and segment-wise expected growth of the market during the forecast period, 2018–2023. As per BIS Research analysis, the global fermented feed ingredient market was valued at $12.27 billion in 2018 and is projected to grow at a CAGR of 9.35% during the forecast period and reach $19.18 billion by 2023.
The different segments under which the fermented feed market is categorized are ingredient type, form type, animal type, and region. On the basis of ingredient type, there are amino acids, vitamins and minerals, enzymes, organic acids, probiotics and prebiotics, and carotenoids. In terms of value, the amino acids segment is projected to dominate the market in 2028. In terms of growth rate, the prebiotics and probiotics segment is expected to lead the fermented feed ingredients market during the forecast period. A rapid increase in the demand for prebiotics and probiotics can be attributed to their eco-friendly nature and their ability to improve the efficiency of feed and thus enhance the performance of animals.
Fermented ingredients for animal feed are being most widely adopted for poultry animals, followed by swine and ruminant. The poultry animals segment acquired the largest market share in 2018 and is expected to maintain its dominance during the forecast period as well.
The Asia-Pacific region holds great potential and offers several untapped opportunities for the fermented feed ingredients market. Geographically, the APAC region is expected to witness the highest compound annual growth during the period, 2018–2023.
The increasing pressure on the livestock sector to meet the growing demands for animal protein has significantly influenced the competitive landscape of the global fermented feed ingredients market. Currently, the majority of the market players are adopting strategies such as product launches, business expansions, and mergers and acquisitions to strengthen their market position. Some of the key players functioning in the market are Kerry Group, Lonza Group AG, BASF SE, and DSM N.V.
Related Reports:
Global Fermented Food and Ingredients Market — Analysis and Forecast (2018–2023)
Global Livestock Monitoring & Management Market- Analysis & Forecast (2017–2021)
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