North America Feed Probiotics Market - Growth, Trends, and Forecast (2018 - 2023)
The North America feed probiotics market has been estimated at USD 64.25 million in 2017. The market is expected to register a CAGR of 10.72% during the forecast period, 2018 to 2023. United States accounted for the largest market, accounting for around 52.2% of the North America market share, while Canada was estimated to register the fastest CAGR through the forecast period, 2018-2023.
Demand of probiotics in North America
Probiotics are widely used in farm livestock, companion animals and in aquaculture, as they are principally associated with reducing clinical disease and increasing growth rates. The U.S. probiotics market for poultry, is likely to grow at steady rates owing to increase in meat consumption, particularly chicken.
In this regard, poultry occupies the larger market share followed by swine and ruminants.
Lactobacilli is one of the most largely commercially available sources of probiotics in feed. Countries of North America are expected to become major markets owing to the high awareness among consumers and it will contributes to the growth of the North America probiotics in feed market in the near future.
On the basis of geography, United States dominates the region followed by Canada and Mexico.
Livestock Disease Outbreak Fuelling Market Growth
The demand in North America for probiotics in feed is growing significantly, as the awareness about animal health among breeders, increasing demand for nutrient-rich feed for animals, and increasing demand for quality animal feed products. Food safety has become an important issue for many governments around the world, especially in North America. Consumers of North America are now more aware and informed and giving importance to the extrinsic quality attributes of the meat they consume and conditions under which their meat is produced. Certain pathogenic and parasitic contaminations in meat products such as salmonella, listeria and E. coli, along with various disease outbreaks in livestock animals such as swine flu and foot and mouth disease in the past decade have raised concerns over meat quality and safety.
Key Developments in the market
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