Over the past few years, livestock production has increased exponentially. This has indeed made a subsequent impact on the poultry probiotics market, with the increasing demand for NGPs (natural growth promoters) in animal feed. The poultry probiotics market is expected to surpass the billion-dollar benchmark by 2024.
The poultry probiotics industry is strongly characterized by R&D and product innovation activities which has made this fraternity witness a fiercely competitive landscape. Below is a synopsis of the contributions by the key participants toward the growth of poultry probiotics market.
Adisseo and Novozymes
Two of the prominent global leaders in poultry probiotics industry, Adisseo and Novozymes, have launched their probiotic called Alterion, especially for poultry application. Both the firms are striving to expand their global reach in this rapidly developing market. In 2016, Alterion, was introduced in the US and later in the countries of South East Asia and Middle East. Currently, the US is witnessing a strong demand for streptococcus based poultry probiotics as it increases animal weight and enhances their feed conversion. As per estimates, US poultry probiotics market from the demand of streptococcus is projected to generate revenue worth over 25 million by 2024.
Collaboration of Novozymes and Boehringer
Boehringer Ingelheim Animal Health and Novozymes have recently created a buzz in the poultry probiotics market, by announcing their plan to collaborate and commercialism probiotics for global poultry production. The collaboration is indeed an appreciable step taken by the companies to enhance their market value in terms capabilities, product innovation and pricing strategy. With this move, Novozymes is expected to utilize Boehringer Ingelheim's vast network to gain access to new distribution channels and customers across the globe.
Evonik
Evonik, a leading player in poultry probiotics industry has recently (January 2017) launched its first probiotic product called GutCare PY1. The company plans to take the lead in the field of developing sustainable and antibiotic-free livestock feed additives. Evonik will initially introduce the product in the US poultry probiotics market and gradually in the Asia Pacific belt.
Chr. Hansen
Chr. Hansen is amongst one of the world's top three manufacturers of probiotics for animals, along with Dupont and Lallemand. This company is grabbing the huge opportunity from the growing demand for antibiotic-free poultry and is expanding its animal nutrition portfolio in Asia Pacific market. As per a report, China poultry probiotics industry is projected to generate revenue over 250 million by 2024, owing to rising consumption of broiler meat and rise in per-capita disposable income. Chr. Hansen is actively planning to launch its product in China & US poultry probiotics market as an alternative to antibiotics.
These trends vividly validate the potential of poultry probiotics industry in the coming years. As per a report by Global Market Insights, Poultry Probiotics Industry is projected to register a CAGR of 7% over 2016-2024, surpassing a valuation of 1.8 billion by 2024.
Source: Poultry World | N0. 7, 2018
