Market Trends of Probiotic Ingredients Industry
This section covers the major market trends shaping the Probiotic Ingredients Market according to our research experts:
Increased Application in Animal Feed and Pet Food
Farmers are relying on feed to obtain high performance and quick weight gain in animals over a short period. The UN Food and Agriculture Organization (FAO) estimates that by 2050, the demand for food will grow by 60%. The production of animal proteins is expected to grow by around 1.7% per year between 2010 and 2050, with meat production projected to rise by nearly 70%, aquaculture by 90%, and dairy by 55%. If the growth rates of the last 40 years were extrapolated forward to 2050, this would, in theory, quadruple the needs.
When introduced to feed in an appropriate quantity, live probiotic microorganisms can produce bountiful health benefits. For instance, ruminants see numerous benefits when probiotics are included in feed during weaning and at the beginning of lactation. Similarly, scientific studies showed that probiotic ingredients enhanced the growth rate in broilers better than AGP (avilamycin) and other substitutes for AGP, such as phytochemicals, including essential oils. This increasing awareness about the nutritional benefits of probiotics is likely to drive its application in animal feed during the forecast period.
Increasing Application of Probiotic Ingredients in South America
The South American market has witnessed significant growth due to the increasing demand for health and wellness products, coupled with the rise in awareness among consumers for functional foods and beverages. Brazilians have been observed to place a high emphasis on improving digestive health, and this factor has led to an increase in demand for dietary supplements. Owing to this factor, the key manufacturers in the market have been focused on expanding their presence in the country to cater to the growing demand and achieve a competitive advantage in the market.
Moreover, the players have been innovating and launching products for approval from regulatory authorities to cater to the demand of end-user industries. For instance, in June 2021, the Brazilian Health Regulatory Agency (ANVISA) approved Biosearch Life's commercialization of two of the company's probiotic strains, Lactobacillus fermentum CECT5716 LC40 and Lactobacillus coryniformis CECT5711 K8, which are aimed at stimulating the immune system to enhance human health and wellbeing.
