HealthTech

Eubiotics Market Size to Reach USD 10.89 Billion in 2028

By Biswas Debanjan

Posted on September 23, 2021

The global eubiotics market size is expected to reach USD 10.89 Billion by 2028 at a CAGR of 8.0% during the forecast period. A rapid rise in consumption of meat, including chicken, eggs, and milk, worldwide is attributable to rapidly increasing global population. Other factors include shift in dietary preferences, changes in food consumption patterns, increasing demand for manufactured feed, and rising awareness about the impact of feed quality on livestock health and wellness are some key factors projected to drive revenue growth of market during the forecast period. In addition, increasing incidence of poultry disease outbreaks has resulted in governments of various countries implementing more stringent regulations and norms, thereby prompting farmers to focus on livestock health and adopt healthy feeds and additives.

Several countries have banned the use of traditional antibiotic growth promoters used in animal farming owing to health challenges related to its use. The ban has led to a rapid shift towards eubiotics as an alternative to traditional antibiotics. Key manufacturers have introduced targeted solutions to enhance the immunity of livestock against viral and bacterial infections, improve levels of lactose tolerance, and boost digestive efficacy. The poultry segment is projected to register the highest revenue CAGR during the forecast period, attributable to increasing global consumption of meat and eggs. Key factors boosting revenue growth of the market are increasing global population and rising demand for superior quality meat. However, increasing usage of essential oils and organic acids in cosmetics and pharmaceutical and nutraceutical products has resulted in a shortage of supply of these ingredients for animal feed applications, which is expected to restrain market growth to a certain extent.

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Some Key Highlights in the Report:

The probiotics segment accounted for largest revenue share in 2020 attributable to rising use of probiotics in commercial livestock production facilities and growing need to ensure wellness of livestock. Probiotics confer numerous health benefits such as boosting immunity, improving gut health and microbial balance, and enhancing overall health of animals, which has significantly boosted demand for probiotics in the recent past.
The solid form segment is projected to register a steady CAGR during the forecast period due to the increasing use of solid form eubiotics in numerous feeds and products attributable to their low storage requirements, longer shelf life, and low costs associated with transportation.
Asia Pacific market revenue is expected to expand at a significantly high rate due to expanding population, rising demand for meat from APAC countries such as India, China, and Japan, and increasing industrialized livestock operations. In addition, development of alternatives to conventional antibiotic growth promoters to boost immunity in livestock in the region is expected to further fuel market growth going ahead.
Prominent players in the market include BASF SE, Novus International, Lallemand Inc., Cargill Inc., Koninklijke DSM NV, Kemin Industries, Lesaffre Group, Behn Mayer Group, Yara International ASA, and DuPont.
In 2019, Cargill’s European poultry business purchased Konspol, which is a Poland-based meat processor to offer value-added poultry products to a broad consumer base.

In December 2020, BASF and Adifo Software introduced a new digital solution specifically for the animal agriculture value chain. Incorporation of BASF’s sustainability analytics into BESTMIX formulation of Adifo will allow the consumers and animal agriculture value chain to efficiently manage and optimize feed formulation depending on nutrition and expenses with a focus on environmental sustainability.

For the purpose of this report, Emergen Research has segmented the global eubiotics market on the basis of product, form, application, end-use, and region:

Product Outlook (Revenue, USD Billion; 2018–2028)