The global eubiotics market size is expected to reach US$ 12.4 Bn by the end of 2029. According to a study by Future Market Insights (FMI), the market will show a steady rise at 7.5% CAGR between 2019 and 2029. According to the report, the rising demand for healthier alternative to antibiotics will stoke growth in the market. The report offers a comprehensive overview of the market, covering key growth drivers, restraints, opportunities, and prevailing trends. It uses unique research methods to offer the most accurate analysis of the market.
However during the forecast period, Asia Pacific is expected to demonstrate a higher rate of growth. In terms of type, the market can be classified into probiotics, prebiotics, organic acid, and essential oil. Of these, probiotic dominated the global market in 2019. Rising awareness regarding the benefits of probiotics will support the growth of the segment.
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It includes in-depth insights into the eubiotics market. Some of these are:
- The estimated value of the market was at nearly US$ 6 Bn in 2019. Through the course of the report’s forecast period, the market is exhibited to show a steady pace of growth.
- Regionally, Europe emerged as a key market for eubiotics.
- Besides Europe, Asia Pacific is forecast to emerge as a lucrative market, backed by rising demand in India and China.
- In terms of type, probiotics is expected to hold the highest share in the global market.
- Key players are likely to focus on product innovations to stay relevant in developed markets.
“Rising meat consumption across the world, is expected to stoke growth opportunities for the eubiotics market,” said a lead analyst at FMI. “As a result of increased meat consumption, eubiotics will find lucrative markets across emerging economies such as India and China,” he added.
Ban on Antibiotics Creates Opportunities for Expansion
The use of antibiotics as means to promote growth has been banned in Europe and other regions. The scenario has created the demand for alternatives such as eubiotics. Antibiotics traced found in meat can have adverse impact on human health. This has become a topic concern among consumers, prompting governments across various nations to put a ban on the use of antibiotics. This has bode well for the eubiotics market, which is expected to show impressive growth in the forecast period.
Rising Demand for Probiotics to Create Growth Prospects
Among product types available in the market, probiotics is in high demand. As per the study, it constitute the leading share in the market among products. Probiotics such as Bacillus spp and Enterococcus faecium have more than just a few benefits to animal health. They help in immunity development and maintaining gut health in animal. Besides the rising awareness about probiotics, competitive strategies adopted by the market players are enabling growth in the segment.
Who is Winning?
Some of the leading players operating in the eubiotics market are Cargill, BASF SE, E.I. Dupont De Nemours and Company, Koninklijke DSM N.V., Chr. Hansen Holding A/S, Novozymes, Calpis Co., Ltd., Lesaffre Group, Kemin Industries, Inc., Lallemand, Inc., Addcon, Behn Meyer Group, Novus International, Inc., Advanced Bio Nutrition Corp, Beneo Group and others.
As a result of increasing competition, market players are focusing on expanding their product portfolio and improving sourcing process. Their expansion strategies are further aided by agreements between them and local players across emerging market. These companies are particularly focusing on catering to changing consumer preference through innovations.
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Get Valuable Insights into Eubiotics Market
Future Market Insights, in its new report, presents an unbiased analysis of the global eubiotics market, covering historical demand data and forecast figures for the period between 2019 and 2029. The study divulges compelling insights into growth witnessed in the market. In terms of type, the eubiotics market can be segmented into probiotics, prebiotics, essential oil, and organic acid. By function, the market covers yield, immunity, nutrition and gut health. On the basis of livestock, the market can be classified into swine, poultry, ruminant, and aquaculture. In terms of form, the market is bifurcated into dry and liquid. Regionally, the global eubiotics market covers North America, Latin America, South Asia, East Asia, Europe, Oceania, and the MEA.