Probiotic additive market expanding

The market for probiotic feed additives is expanding at a rate of 6.7 per cent per year, according to a report from Future Market Insights.

For the livestock industry it will amount to about $4 billion a year by 2031, the report said.

The market for pets, horses and fish will increase more than twice as fast – by 13.7 per cent – and be worth about $2 billion by 2031.

The demand to feed pets is growing the fastest.

Future Market Insights also said that large retailers are becoming more important for marketing pet foods.

“The global animal feed probiotics market is predicted to be driven by the expansion of global retail chains, both physical and digital, as well as the expansion of product lines.” said a lead analyst.