The global eubiotics market is projected to grow from USD 4.84 billion in 2016 and reach USD 7.48 billion by 2022, at a CAGR of 7.51% from 2016 to 2022. The growth of the eubiotics market is primarily attributed to the increasing awareness about feed quality and safety, rise in demand for manufactured feed, growth in demand for animal high protein, change in farming practices and technology, and replacing antibiotic growth promoters (AGPs) with eubiotics. In addition, the rise in the population leads to an increase in the demand for food such as milk and meat, which in turn, contributes to the growth of the eubiotics market.
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Probiotics are gaining high popularity in the eubiotics market across the world, the demand for probiotics used in feed for animal health and nutrition have been contributing to the growth in the market. Rapidly increasing demand for quality animal products is anticipated to drive the market for probiotics in animal feed during the projected period. Probiotics are more convenient to use, owing to their ease in application. Probiotics are the most widely used eubiotics and hence, are projected to be the fastest-growing for the next six years.
Eubiotics have tremendous market opportunities in the animal feed industry around the world. The animal feed industry in the European and Asia-Pacific regions is significantly influenced by the demand for animal feed additives, increase in concerns toward disease outbreak in livestock, and rise in demand for milk and meat products. The demand for eubiotics-based products in animal feed is continuously increasing in the Asia-Pacific region. Increase in awareness about the health benefits derived from eubiotics is also the prime factor driving the demand for eubiotics-based animal feed in this region.
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Europe accounted for the largest market share in the eubiotics market, followed by Asia-Pacific, and North America. France and Germany constituted the largest country-level markets in Europe in 2015. Increasing awareness about the benefits of eubiotics among the cultivators and rising population across regions are driving the growth of the market in this region. The eubiotics market in the Asia-Pacific is projected to grow due to the increased investments from several multinational manufacturers, advancements in agricultural technologies, and exports of key products in feed. Moreover, extensive R&D initiatives were undertaken for exploring the new varieties of eubiotics for use in the feed industry.
Key players in the market are Cargill (US), BASF SE (Germany), E. I. du Pont de Nemours and Company (US), Koninklijke DSM N. V. (Netherlands), Chr. Hansen A/S (Denmark), Novozymes (Denmark), Calpis Co., Ltd. (Japan), Lesaffre Group (France), Kemin Industries, Inc. (US), Lallemand Inc. (Canada), ADDCON (Germany), Behn Meyer (Malaysia), Novus International Inc. (US), and Advanced BioNutrition Corporation (US). These players are focusing on undertaking expansions & investments, mergers & acquisitions, new product launches, and agreements, partnerships, collaborations, and joint ventures to pace ahead in the market.
