Global Eubiotics Market to Reach USD 10.7 Billion by 2032, Growing at 8% CAGR Due to Increasing Demand for Meat Products and Concerns Over Antibiotic Use in Animal Feed
Eubiotics Market Overview:
The global eubiotics market was valued at USD 5.4 billion in 2022 and is projected to reach USD 10.7 billion by 2032, with a projected CAGR of 8% during the forecast period. This growth is attributed to the increasing demand for meat products and concerns regarding the use of antibiotics in animal feed. Eubiotics, which are feed additives, are utilized to improve animal performance, maintain gut health, and enhance nutrient utilization.
To address the global concern of antibiotic resistance in humans, eubiotics are utilized as a substitute for antibiotics in animal feed. Moreover, the use of eubiotics in animal feed is also beneficial in lowering greenhouse gas emissions and improving feed efficiency, thereby minimizing the negative environmental impact. With an anticipated world population of 9.7 billion by 2050, there is expected to be a surge in demand for meat-based products, thereby driving the need for eubiotics in animal feed.
The increasing demand for poultry meat and the stringent regulations pertaining to the use of antibiotics in animal feed are expected to significantly increase the utilization of eubiotics in poultry feed. Consequently, the demand for eubiotics in the animal feed industry is expected to contribute to the growth of the market.
Eubiotics Market Segments:
The global feed additives market is divided based on product outlook, form outlook, application outlook, and end-use outlook. Based on the product outlook, the market is segmented into probiotics, prebiotics, organic acids, phytogenic, and enzymes. Probiotics are further classified into lactobacilli, bifidobacterium, streptococcus, and others. Prebiotics are divided into fructo-oligosaccharides (FOS), inulin, galacto-oligosaccharides (GOS), mannan-oligosaccharides (MOS), and others. The organic acid segment is anticipated to witness substantial growth during the forecast period.
Based on form outlook, the global feed additives market is divided into liquid and solid. Liquid feed additives are expected to have a higher demand due to their ease of mixing, handling, and application.
On the basis of application outlook, the market is segmented into gut health, immunity, yield, and others. The gut health segment is projected to have the highest market revenue due to the increasing awareness about animal health and the use of feed additives to promote gut health in animals.
Based on the end-use outlook, the market is segmented into cattle feed, poultry feed, swine feed, aquatic feed, and others. The poultry feed segment is expected to dominate the market revenue share during the forecast period. This growth can be attributed to the increasing consumption of poultry meat and eggs, and rising demand for high-quality poultry feed to improve productivity and animal health.
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Eubiotics Market: Strategic Developments
The global eubiotics market is highly competitive, with several players operating in the market. These companies are focusing on strategies such as mergers and acquisitions, partnerships, and new product launches to expand their market share and strengthen their position in the industry.
Some of the major companies operating in the global eubiotics market are ADM Animal Nutrition, BASF SE, Cargill, Chr. Hansen Holding A/S, Danisco A/S, DSM, Evonik Industries AG, Kemin Industries, Koninklijke DSM N.V., Lallemand, Inc., Lesaffre Group, Novus International, Inc., Novozymes, Nutreco N.V., and Royal DSM.
In May 2021, DSM acquired First Choice Ingredients, a manufacturer of dairy-based concentrates and savory flavors for the food and beverage industries. The acquisition is expected to strengthen DSM’s position in the food and beverage industry, particularly in the North American market.
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Eubiotics Market: Competitive landscape
The global eubiotics market is a highly competitive landscape, with the presence of several major players. These companies are implementing various strategies, including mergers and acquisitions, strategic agreements and contracts, and new product launches, to stay ahead in the market. Cargill, Incorporated, Evonik Industries AG, and Kemin Industries, Inc. are some of the leading companies in the eubiotics market.
Cargill, Incorporated is a leading producer and marketer of food, agricultural, financial, and industrial products and services. The company operates in 70 countries and has more than 155,000 employees worldwide. Evonik Industries AG is a German specialty chemicals company that produces chemicals, polymers, and materials. The company’s products are used in a wide range of industries, including healthcare, agriculture, and automotive. Kemin Industries, Inc. is a global company that produces ingredients and solutions for the food, feed, and pet food industries. The company offers eubiotics products under the brand name, KemTRACE.