The global eubiotics market size is anticipated to reach USD 7.9 billion by 2028, expanding at a CAGR of 8.1%, according to a new report by Grand View Research, Inc. The growth in the market can be attributed to concerns over antibiotic traces in animal meat and their health hazards. Eubiotics also provides benefits such as increased feed conversion ratio, resistance to diseases, and better animal welfare. All these factors are expected to propel market growth over the forecast period.
Eubiotics are fast replacing antibiotics and there has been rising awareness pertaining to their usage across the globe. The shift in the trend toward the usage of antibiotic alternatives such as eubiotics is expected to benefit market growth. Additionally, favorable regulatory scenario banning the use of antibiotics as growth promoters has benefitted market growth in the recent past and is expected to do so in the near future.
The feed additives are manufactured and are distributed either through feed mills, pre-mixers, or specific distributors. The companies involved in manufacturing these feed additives either sell their products directly to their consumers or sell them to integrated feed producers. Either way, the eubiotic products reach the livestock producers.
Industry participants are using these products to obtain high yield and animal performance. The feed additives are used to alter the microflora of the animals, thus providing benefits such as increased immunity, better gut health, and increased yield. Growing meat consumption on account of factors such as rising population and rising disposable income is expected to contribute positively toward market growth.
Europe emerged as the largest regional segment and accounted for more than 40% share of the global revenue in 2020. Efforts taken by livestock producers to comply with the prevalent regulations and ban on usage of antibiotics are resulting in high product demand. The growth of the market for eubiotics in the region is characterized by the presence of strict laws and regulations discouraging the usage of antibiotics, which is expected to benefit the market for eubiotics. Strong awareness regarding the usage of eubiotics and their benefits, the presence of market players, and strong demand from countries such as Germany, the U.K., France, and Spain are factors driving the overall regional demand.
Germany is among the top producers of poultry in Europe. Also, the country has a significant presence of industry participants of other livestock such as swine and cattle. In addition, the presence of regional as well as international market participants in the U.K. is also benefitting market growth. The concerns raised by the political as well as the social fraternity regarding traces of antibiotics and awareness regarding the quality of meat in the country are also expected to aid regional growth over the forecast period.
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