Global Eubiotics Market Size, Segments, Outlook, and Revenue Forecast Report 2022-2028: Rise in Demand for Animal Protein and Restriction on Antibiotics Bodes well for the Sector
DUBLIN, April 12, 2023 /PRNewswire/ -- The "Global Eubiotics Market Size, Segments, Outlook, and Revenue Forecast 2022-2028 by Product, By Form, Function, Livestock Region" report has been added to ResearchAndMarkets.com's offering.
Global Eubiotics Market was valued at ~US$ 3 billion in 2017. It is estimated to be ~US$ 5 billion by 2022 and is expected to reach a market size of ~US$ 8 billion by 2028 growing at a CAGR of ~8% during the forecast period (2022-2028).
Due to the rise in demand for animal protein, the rise in demand for produced feed, and the restriction on antibiotics, the market for animal Eubiotics will experience significant expansion.
The rising awareness of the quality and safety of feed additives is boosting the global market. Furthermore, it is thought that feed additives' significant health advantages will continue to drive the global market's rise. The Eubiotics industry is expanding significantly due to rising demand for animal protein, produced feed, and the replacement of antibiotic growth promoters (AGPs) with Eubiotics.
One of the biggest obstacles facing the Eubiotics market during the forecast period is the increasing illness outbreaks in cattle. Further, the growing cost of Eubiotics' raw materials may present difficulties for the global market.
The COVID-19 pandemic had a marginal effect on the Eubiotics market. The industry experienced a mixed response as a result of the social limitations in the key markets, which cost the company money. However, the pandemic led to more knowledge of the harmful effects of antibiotics on animals, which favorably impacted the market's expansion.
Recent Developments Related to Major Players
In July 2021, Koninklijke DSM N.V., a science-based global company in sustainable, nutrition, and healthy living acquired Midori USA, Inc., a biotechnology start-up and novel platform, to develop ground-breaking Eubiotics technologies that will improve the health and environmental impact of animals.
In May 2021, Chr. Hansen Holding A/S introduced 'Bovacillus,' a brand-new probiotic for dairy and meat cattle. Bacillus spores are a special kind of probiotic because they can withstand harsh conditions during the production, preparation, and use of feed as well as inside the gastrointestinal tract.
In January 2021, Novus International collaborated on research and development projects with the USA-based biotechnology firm Agrivida.
Conclusion
The global Eubiotics market is forecasted to continue the growth that is witnessed since 2017, Positive legislative scenarios that forbid the use of antibiotics and rising meat consumption around the world are expected to fuel demand for the product.
The market is highly competitive, with firms who have been there for a while taking the majority of the market. Though the market is highly competitive with ~150 players, few global players control the dominant market share and regional players also hold a significant market share.
Key Topics Covered in the Report
- Snapshot of the Global Eubiotics Market
- Industry Value Chain and Ecosystem Analysis
- Market size and Segmentation of the Global Eubiotics Market
- Historic Growth of the Overall Global Eubiotics Market and Segments
- Competition Scenario of the Market and Key Developments of Competitors
- Porter's 5 Forces Analysis of the Global Eubiotics Industry
- Overview, Product Offerings, and Strengths & Weaknesses of Key Competitors
- COVID-19 Impact on the Overall Global Eubiotics Market
- Future Market Forecast and Growth Rates of the Total Global Eubiotics Market and by Segments
- Market Size of Function Segments with Historical CAGR and Future Forecasts
- Analysis of Global Eubiotics in Major Regions
- Major Type/Supply and Consumption/Demand Hubs within Each Region
- Major Country-wise Historic and Future Market Growth Rates of the Total Market and Segments
- Overview of Notable Emerging Competitor Companies within Each Major Region
Major Players Mentioned in the report
- DSM
- Novus International, Inc
- Lallemand, Inc
- Behn Meyer
- Lesaffre Group
- Kemin Industries, Inc
- Novozymes
- Chr Hansen Holding A/S
- BASF SE
- Cargill, Incorporated
- Bluestar Adisseo Co
- Biomin
- Roquette Freres
- Associated British Foods plc
- Evonik Industries AG
Scope of the Report
By Product
- Probiotics
- Prebiotics
- Organic Acids
- Essential Oil
By Form
- Dry
- Liquid
By Function
- Nutrition & Gut Health
- Yield
- Immunity
- Production
By Livestock
- Cattle
- Poultry
- Swine
- Aquatic
- Others
By Geography
- North America (USA, Canada, Mexico)
- Europe (Germany, UK, France, Spain, Italy)
- Asia-Pacific (China, Japan, South Korea, India, Indonesia, Australia)
- LAMEA (Latin America, Middle East, Africa)
For more information about this report visit https://www.researchandmarkets.com/r/6zf81e
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