April 23, 2014

Global prebiotic market for animal feed to reach US$461.3 million by 2019

A recent report states that demand for prebiotic in animal feed is expected to grow at a CAGR of 11.9% in terms of revenue from 2013 to 2019 and in terms of volume, the market is expected to grow at a CAGR of 9.4% from 2013 to 2019.

The market valued is expected to reach US$461.3 million by 2019 from US$213.9 million in 2012,  according to the market report titled "Prebiotic in animal feed Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2013 – 2019" launched by Transparency Market Research.

In recent years, the global market for prebiotics witnessed good growth due to multiple health benefits of prebiotics to animals. Other factors contributing to its growth include rising meat consumption and the ban on antibiotics in animal feed. Greater visibility of probiotics and stringent government regulations are major factors restraining the growth of the market. However, increasing consumer awareness on the benefits of prebiotics is providing huge market opportunity for market players.

By livestock type, the poultry segment dominated the prebiotics market and took up 32.3% of the total market volume in 2012, followed by the swine and cattle segments that occupied 26.2% and 29.3% respectively. These animals require high amounts of prebiotics in their feed to improve feed conversion ratio and to maintain nutritional value of feed. Aquaculture and other animals together accounted for over 12% share of the market in terms of volume.

By region, Europe is expected to maintain its lead position in terms of demand and is expected to command 50.8% share of the global animal feed prebiotics market revenue in 2019, followed by Asia Pacific. Asia Pacific is expected to make up over 30% of the global market share in 2019. Both of these economies are expected to dominate the market over the next six years. In terms of volume, North America is expected to make up 8.3% of the global market in 2019. Market share of the rest of the world is expected to increase by 2019 in terms of revenue and volume.

There are many brands of prebiotics available in the market, therefore no specific player has significant market share. Some of the major players of the market are Cosucra-Groupe Warcoing SA, BENEO-Orafti SA, Cargill Incorporated, and Abbott Laboratories.