The direct-fed microbials (DFM) market is projected to reach a value of USD 1,399.6 million by 2022, at a CAGR of 6.96% from 2016. The market is driven by factors such as the increase in awareness about feed quality and safety, the increasing livestock population, and replacing antibiotic growth promoters (AGPs) with direct-fed microbials. The rise in population also results in increase in demand for food and the necessity of direct-fed microbials to increase meat and milk production in a sustainable manner. This demand for enhancement of the immunity as well as productivity of livestock will provide new growth opportunities for market players.
The use of direct-fed microbials enables better digestibility and immunity without the use of synthetic chemicals in feed. Thus, the demand for direct-fed microbials in animal feed is likely to increase. Investments in R&D capabilities by key players for innovating new direct-fed microbials products, along with the increase in expenditure on these innovations and cost-effective production processes of direct-fed microbials, are expected to change the business landscape in the next six years.
On the basis of type, the market for lactic acid bacteria is expected to be the fastest-growing, as these lactic acid bacteria are highly effective. These products may have one single strain or a combination of strains of bacteria. The higher the number of strains, the better is the response of the digestive system to stressors.
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On the basis of livestock, the direct-fed microbials (DFM) market has been segmented into swine, poultry, ruminants, aquatic animals, and others (equine and pets). The poultry segment is projected to be the fastest-growing, because direct-fed microbials provide poultry birds with protein and this increases their growth rate. There is a high demand for poultry meat across the world due to their high nutrient value, enhancing market growth opportunities.
The direct-fed microbials market (DFM) is experiencing positive growth across the world, especially in the North American, European and Asia-Pacific regions. North America is the largest market for direct-fed microbials owing to the ban on antibiotics for growth promotion in animals. The European region was the second-largest market in 2015. Standardization and regulatory initiatives from the European Union are affecting growth in the eastern and central parts of Europe, where awareness among livestock producers about the importance and usage of different direct-fed microbials is increasing. Direct-fed microbials help in improving the feed conversion ratio by regulating feed intake and increasing the digestibility of nutrients and energy. This is important to ensure sustainable growth in the food and feed industries.
Market players continue to expand and invest in order to increase their market share and expand across different countries in the Asia-Pacific region. These players adopted various strategies such as new product launches, investments & expansions, acquisitions, and agreements with leading and other local market players, to strengthen their geographical reach in the direct-fed microbials (DFM) market.
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