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Eubiotics Market Growth Drivers, Opportunities, Share Report And Forecast To 2033
Eubiotics Market
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According to The Business Research Company's, The eubiotics market size has grown strongly in recent years. It will grow from $5.37 billion in 2023 to $5.85 billion in 2024 at a compound annual growth rate (CAGR) of 9.0%. The growth in the historic period can be attributed to rising consumer awareness of healthy diets, focus on livestock health and performance, antibiotic resistance concerns, increasing meat consumption, research and development investments.
The eubiotics market size is expected to see strong growth in the next few years. It will grow to $8.22 billion in 2028 at a compound annual growth rate (CAGR) of 8.9%. The growth in the forecast period can be attributed to emergence of eubiotic blends, growing trend of sustainable agriculture, expansion of dairy industry, application in horse nutrition, integration of prebiotics and postbiotics, rising demand for antibiotic-free products. Major trends in the forecast period include replacement of antibiotic growth promoters (agps), prebiotics and probiotics dominance, regulatory emphasis on antibiotic reduction, advancements in microbial solutions, sustainable and eco-friendly practices, expansion in aquaculture applications, collaborations and partnerships.
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Market Drivers and Trends:
The increasing demand for high-quality animal feeds is expected to propel the growth of eubiotics going forward. High-quality animal feeds are nutritionally balanced, contaminant-free formulations designed to meet the specific dietary needs of animals, promoting optimal health, growth, and reproduction. Eubiotics are an essential component of modern animal nutrition and are increasingly used to optimize animal health, reduce the need for antibiotics, and enhance the sustainability of livestock production systems. For instance, in March 2021, according to the American Feed Industry Association, a US-based not-for-profit organization that represents the feed industry, it was estimated that by 2025, animal food consumption could increase by 2.5% to 254.6 million tons worth roughly $48.8 billion, which was 248.4 million tons in previous year. Furthermore, it is estimated that animal feed consumption could reach 263.1 million tons by 2025. , Therefore, the increasing demand for high-quality animal feeds is driving the growth of the eubiotics market.
Product innovation is a key trend in the eubiotics market. Major players in the market are focusing on creating innovative products to increase the quality of feed additives in eubiotic products. High-quality nutrients, such as probiotics, are feed additives that improve animal performance by enhancing gut health. For instance, in May 2021, Chr. Hansen Holding A/S, a Denmark-based company that develops natural animal nutrients, launched a probiotic product known as Bacillus. This product is a probiotic that produces high-quality digestive enzymes to improve the gut health of animals.
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Major Key Players of the Market:
BASF SE, Koninklijke DSM NV, Lallemand Inc., Novus International Inc., Chr Hansen Holding A/S, Cargill Inc., E I du Pont de Nemours and Company, Calpis Co. Ltd., Lesaffre Group, Kemin Industries Inc., Evonik Industries AG, Archer Daniels Midland Company, Beneo GmbH, BioResource International Inc., Biomin Holding GmbH, Bluestar Adisseo Company, Dupont Nutrition & Biosciences, Nutreco NV, Pancosma SA, Provimi Holding BV, Synbio Tech Inc., Vetagro SpA, Wacker Chemie AG, Zinpro Corporation, Alltech Inc., Danisco Animal & Nutrition, Impextraco NV, Nuscience Group, Olmix Group
Eubiotics Market 2024 Key Insights:
• The eubiotics market size is expected to see strong growth in the next few years. It will grow to $8.22 billion in 2028 at a compound annual growth rate (CAGR) of 8.9%.
• Eubiotics Market To Thrive On The Surge In Livestock Population For Commercial Use
• High-Quality Feed Additives For Enhanced Animal Performance
• Europe was the largest region in the eubiotics market in 2023
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