Moderate Growth Rate Predicted for the Probiotics Market by 2024

Nowadays there is a trend amongst companies responsible for developing probiotics to invest a lot of resources in the innovative research in this domain. A good example is OptiBiotix, who agreed a deal with IPA (International Probiotics Association) to get access to the recent developments and upcoming advances when it comes to probiotics. Moreover, they also plan to expand their activities by forming a strategic partnership with various pharmaceutical companies. It is expected that the key role in the development of the market will be played by probiotics integrated with animal feed, which has been proved to be highly effective in supporting the healthy growth of livestock.

The probiotics market is expected to reach USD 67 billion by 2024

According to a recent study, which was conducted by Global Market Insights Inc., the market of probiotics will generate more than USD 67 billion by 2024. A big part of it will come as a result of an increased use of animal feed applications, which are gradually replacing antibiotics in the animal sector.

Ban on the use of antibiotics in the animal sector

For years, many food companies and farmers were using antibiotics as a means of supporting the health growth of animals, which led to the development of resistance in some types of bacteria. This, however, has come to an end, as many regulatory organizations, including WHO, enforced bans on the use of antibiotics for animals. In addition to that, there is a high demand on meat free of antibiotics, forcing some food chains to stop using meat that was produced with the help of antibiotics.

Instead, various health organizations promote the use of probiotics for livestock, which is seen as the best alternative that ensures that both the producer and customer are satisfied. This major shift will result in a great increase in the probiotics market over the period of 2018-2024, estimated to reach 8% by experts.