The Business Research Company’s Animal Food Global Market Report 2021: COVID-19 Impact and Recovery to 2030
LONDON, GREATER LONDON, UK, January 21, 2021 /EINPresswire.com/ — New year, new updates! Our reports have been revised for market size, forecasts, and strategies to take on 2021 after the COVID-19 impact: https://www.thebusinessresearchcompany.com/global-market-reports
Growing awareness among cattle farmers and pet owners about the advantages of probiotics for animal health is leading to the increased use of probiotics in the animal feed for farm animals like cattle, horse, ruminants and poultry. According to the pet food market research report, increasing advancements in molecular biology and gene sequencing are allowing researchers to dig deep for finding new probiotic applications for animals, in feed and consumer packaged health products. The significant rise in adoption of probiotics in the animal feed for farm animals has shown beneficial results in terms of animal performance, digestion and immune system. For instance, the US based company, Bactana Animal Health has completed its first round of funding for developing a novel bacterial stain of Faecalibacterium prausnitzii for commercial livestock usage. Such pet food market trends drive the pet food industry as well.
The global animal food market is expected to grow from $233.79 billion in 2020 to $243.09 billion in 2021 at a compound annual growth rate (CAGR) of 4%. The growth is mainly due to the companies rearranging their operations and recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges. The pet food market size is expected to reach $316.04 billion in 2025 at a CAGR of 7%.
Here Is A List Of Similar Reports By The Business Research Company:
Pet Food Global Market Report 2021: COVID-19 Impact and Recovery to 2030
Animal Medicine Market – By Type Of Medicine (Veterinary Pharmaceuticals, Feed Additives), By Type Of Additive (Antibiotics, Amino Acids And Antioxidants, Vitamins, Acidifiers, Enzymes, Others), By Type Of Animal (Cattle (Dairy And Meat Purposes), Poultry, Other Farm Animals, Dogs And Cats, Other Companion Animals), By Drug Type (Branded, Generic), By Type Of Prescription (OTC, Prescription), By Route Of Administration (Oral, Intravenous, Subcutaneous, Others), By Distribution Channel (Vet Services, Online, Others), By Level Of Regulation (Highly Regulated Countries, Loosely Regulated Countries), And By Region, Opportunities And Strategies – Global Forecast To 2030
Veterinary Services Market – By Type (Animal Hospitals, Veterinary Clinics, Surgical Procedures, Laboratory Services And Pet Food), By Region, Opportunities And Strategies
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