Pet Probiotics Market Overview:
Probiotics for pets are essentially a kind of strain of microorganisms that are given to them in the right dosage to have a positive effect. This enhances health and lowers the chance of getting sick. Several other bacterial strains may be bought commercially, including Lactobacillus thermophilus and Bacillus subtilis. In addition, the use of probiotics as feed additives in animal production has increased significantly over the past ten years, particularly after the use of antibiotic growth promoters in the livestock industry was outlawed.
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Pet Probiotics Market Size Growth Rate:
According to the DataM market research report, the global pet probiotics market size was valued at US$ 4.3 billion in 2022 and is projected to reach US$ 6.9 billion by 2030, with growth at a CAGR of 7% over the forecast period (2023-2030).
The market for pet probiotics is one area of the pet industry that is expanding. Probiotics for pets are dietary supplements that include good bacteria that can support digestive health and strengthen the immune system in canines. The market for pet probiotics is being driven by rising awareness among pet owners of the significance of maintaining their pets’ gut health. Furthermore, during the past 10 years, the use of probiotics as feed additives in animal production has drastically expanded, especially since the use of antibiotic growth promoters in the livestock business was banned.
Pet Probiotics Market Drivers:
There have been numerous changes in the population’s eating habits and consumption patterns, which have led to a move towards consuming more meat and dairy products. Due to the rise in demand for animal products such as milk, dairy products, meat, eggs, and other non-food goods, the use of feed additives has increased, which has boosted the probiotics market for animal feed. Consequently, the global demand for food has expanded due to the rapid rise in population.
Pet Probiotics Market Restraints:
One of the major issues impeding the growth of the pet probiotics market is pet owners’ ignorance of the advantages of pet probiotics. Only 27% of pet owners, according to a Packaged Facts survey, are aware that probiotics are available for use in animals. Additionally, only 4% of pet owners, according to the same survey, frequently give their animals probiotics, showing a sizable knowledge gap. Since many pet owners are unaware of the possible advantages of these products for their animals, this ignorance is a significant obstacle to the expansion of the pet probiotics market.
Pet Probiotics Market Opportunities:
The market for pet probiotics is expanding as a result of increased awareness and worries about animal health and safety. The market for these products is being driven by pet owners’ increased realization that probiotics can help preserve their animals’ digestive and general health. 47% of dog and cat owners had bought a probiotic supplement for their pet in the previous year, up from 41% in 2019, according to a Packaged Facts survey done in 2020. This is expected to create opportunities for the market growth.
COVID-19 Impact Analysis:
The COVID-19 pandemic affected the pet probiotics market strongly. Since 2019, the worldwide crisis caused by the COVID-19 pandemic has majorly impacted most industries. The COVID-19 pandemic affected many economies around the globe in 2021. Many combat measures, like complete lockdowns and quarantine for two consecutive years, 2020 and 2021, to fight COVID-19, have strongly affected many industries worldwide, including a portion of the pet food industry.
While there has been some disruption to supply chains and changes in consumer behavior, the overall impact has been relatively positive. According to a report by Packaged Facts, the COVID-19 pandemic has led to an increase in pet ownership, with more households adopting or fostering pets during lockdowns. This has resulted in a higher demand for pet products, including pet probiotics. With lockdowns and social distancing measures in place, there has been a significant shift toward online shopping.
Recent Developments in the Industry:
In March 2023, the introduction of Lively, a new range of probiotic cleaning and pet care products, was announced by Faultless Brands. Lively uses probiotics’ inherent ability to clean to help reduce dirt, odors, and harmful germs at the microscopic level.
In March 2023, Goli Nutrition, a people-focused nutrition company, introduced a symbiotic supplement, and Beech-Nut unveiled biscuits with probiotic and vegetable fillings.
Pet Probiotics Market Segmentation:
As per the research analysis, the global pet probiotics market is segmented by livestock into cattle, swine, aquaculture, pet, equine, and others, and by form into dry, liquid, capsules & others.
Based on livestock, the cattle segment is estimated to hold a significant market share over the forecast period (2023-2030). Cattle are primarily raised for meat production, which creates a significant demand for probiotics in their diets. Probiotics can improve the health and growth of cattle, leading to higher-quality meat products. Cattle are often raised in large numbers, and probiotics can be used as a management tool to improve the overall health of the herd.
The global pet probiotics market is segmented into North America, Europe, South America, Asia Pacific, and Middle East & Africa.
Asia-Pacific Pet Probiotics Market:
China and India are two of the region’s top revenue-producing nations with a share of 32.2% and 20.1%, respectively in the year 2022. With the adoption of an urbanized lifestyle, these nations have contributed a sizable population base as well as an increase in the number of middle-class people who prefer food products with health benefits. The region’s expanding pet population is a key factor in the market’s expansion. For instance, according to a report by Euro5monitor International, China’s pet population will increase from 212 million in 2019 to 389 million by 2025.
North America Pet Probiotics Market:
The market for pet probiotics in North America currently accounts for a significant share, largely as a result of the region’s high pet ownership rate and rising desire for natural and organic pet goods. Additionally, the presence of major industry players like Nestle Purina, Mars Inc., and Probiotics International Ltd. is a major factor in the growth of the pet probiotics market in North America. To meet the growing demand from pet owners, these businesses are heavily investing in the research and development of new products and releasing cutting-edge pet probiotics.
Europe Pet Probiotics Market:
The pet probiotics market is growing in Europe with a CAGR of 7.1% during the forecast period, and there are several factors contributing to this growth. One of the main drivers of this growth is the increasing awareness of the health benefits of probiotics for pets. As more pet owners become aware of the importance of gut health in their pets, they are seeking out products that can help support digestive health and overall wellness. Another factor contributing to the growth of the pet probiotics market in Europe is the rise of e-commerce platforms and online retail.
There are numerous international, regional, and local suppliers in the global pet probiotics industry. The competition in the local market is fierce. The vendors compete based on price, product quality, dependability, and aftermarket services. As a result, to prosper and survive in a competitive market, suppliers must provide cost-efficient and effective products.
Major companies working towards the market growth include Chr. Hansen, Kinglike DSM N.V., DowDuPont, Evonik Industries, Land O’Lakes, Lallemand, Bluestar Adisseo Co., Lesaffre, Alltech, Novozymes, and others.
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The Full Report has the below insights:
The report offers a comprehensive evaluation of the market in terms of market value (US$) and Y-o-Y Growth Rates (%). It does so via in-depth qualitative insights, historical data (2021-2022) and verifiable projections about market size during the forecast period (2023-2030).
Visualize the composition of the global pet probiotics market segmentation by livestock, form, and region, highlighting the key commercial assets and players.
By Livestock: Cattle, Swine, Aquaculture, Pet, Equine, Others
By Form: Dry, Liquid, Capsules and Tablets
By Region: North America, South America, Europe, Asia Pacific, Middle East & Africa
Identify commercial opportunities in the global pet probiotics market by analyzing trends and co-development deals.
The report also covers data insights on various industry forces such as Porter’s five forces analysis, supply chain analysis, pricing analysis, regulatory analysis.
Excel data sheet with thousands of data points of global pet probiotics market-level 4/5 segmentation.
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