Eubiotics Market Growth & Trends
The global eubiotics market is expected to reach USD 9.6 billion by 2030, as per the new report by Grand View Research, Inc. The growth is majorly driven by the increasing product usage in the meat industry due to rising concerns over antibiotic traces found in meat.
Furthermore, the future growth of eubiotics is dependent on the favoring regulator frameworks which ban the use of antibiotics. However, the coloring and flavoring agents to be used in eubiotics need to be approved by concerned regulatory agencies and have to acquire proper clearances such as Generally Recognized As Safe (GRAS) listings.
Eubiotics are effective tools for strengthening gut health. Selection of proper products is very important and depends upon genetics, animal diet, and application. The performance is directly linked to the raw materials used. Cultures such as those of probiotics and raw materials used for the manufacturing of essential oils need to be of high and consistent quality to ensure better performance. Sensing this attribute, companies impose strict quality checks on raw materials. Also, products must adhere to strict specifications as prescribed by these companies.
Due to the pandemic of COVID-19, the world saw a shutdown of various factories, production and manufacturing hubs, restaurants, hotels, etc. This resulted in a shortage of labor, disrupted the supply chain, and reduces the supply of raw materials as well as other ingredients. The animal feed industry was one of the highly impacted industries due to the pandemic. As the demand for meat declined so did the demand for animal feed additives. The early months of 2021, saw an increase in the demand from the meat industry and eventually increased demand eubiotics.
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Eubiotics Market Report
Eubiotics Market Report Highlights
- Probiotics products witnessed the highest growth rate of more than 8.9%, owing to rising awareness regarding the usage of probiotics and competitive strategies adopted by major market players to generalize the usage of probiotics in animal feed
- The solid form witnessed the highest growth rate of 8.7%, because of its easy availability and properties such as bioavailable and stable feed additive in the feed production
- The use of eubiotics for immunity application witnessed a high growth rate of 9.0%, owing to the properties of eubiotics as natural digestive stimulants, which creates a balance of microflora in the gastrointestinal tract, thus contributing to greater immunity in the animals.
- The Poultry end-use of eubiotics witnessed the fastest growth rate of more than 7.2%, due to rapid urbanization, improved lifestyle, and rising income levels in developing countries which in turn have generated high demand for chicken meat and eggs
- The Asia Pacific region witnessed the highest growth rate of nearly 9.0%, due to the growing consumption of animal products, increased consumer spending, and thriving animal feed industry. Also, increased manufacturing, as well as exports of feed additives from prominent countries such as China and Japan are anticipated to contribute to the market growth
