Market Trends of North America Feed Prebiotics Industry
This section covers the major market trends shaping the North America Feed Prebiotics Market according to our research experts:
Increased Meat and Seafood Consumption
North America is the leading producer and consumer of compound feed across the world, thereby inflicting a direct impact on the feed prebiotics market. Inulin has been proven to be beneficial to aquaculture and it is extensively used as an additive in the feed for carp, shrimp, and tilapia. Through the process of fermentation, inulin becomes healthy intestinal microflora (bifidobacterium). Bifidobacterium. With greater awareness among the population regarding the importance of protein-rich diets, an increase in the consumption of animal protein sources is expected. According to the Agri-Food and Fisheries Information Service (SIAP), fish production in Mexico increased from 1.75 million metric tonnes in 2016 to 2.16 million metric tonnes in 2018. Therefore, livestock and aquaculture yields are expected to improve by way of adoption of better feed management practices and increased use of feed additives such as feed prebiotics in the region, thereby driving the market during the forecast period.
Increased Compound Feed Production
According to the US Census Bureau, the current population of the United States is 329.3 million, which increased by 0.7-0.9%, driven by a high level of immigration. The Census Bureau projects that the population is expected to hit 417 million by 2060, crossing the 400 million thresholds in 2051. With the increasing per capita income and growing population level, the demand for food crops and cash crops is also considered to increase, along with an increase in food from animal origin, including meat, fish, milk, and eggs. According to Alltech Feed Survey, the country witnessed a 5.1% increase in the compound feed production from 2012 to 2018 and reached a production of 177.2 million metric tons of compound feed in 2018. The consumers are not specific regarding the type of prebiotics and, consequently, price is the major deciding factor for purchase. The need for prebiotics like fructooligosaccharide (FOS), which could provide acceleration in the growth rate, coupled with health protection, is rising. Furthermore, an increase in the consumption of meat may be supported by the growing populace. Hence, the demand for significant livestock feed with enough prebiotics, like fructooligosaccharide, is likely to expand in the region studied during the forecast period.
