The global eubiotics market is anticipated to register a CAGR of 7.11% over the forecasting period of 2021 to 2028. The market growth is attributable to factors such as the increasing awareness and concerns about animal health, the rising demand for manufactured seeds, and the growing meat consumption.
Eubiotics are feed additives constituting prebiotics, essential oils, probiotics, and organic acids. They can successfully help facilitate gut health with or without a significant reduction in the use of antibiotic growth promoters (AGPs). Moreover, the term eubiosis refers to an ideal balance of microflora in the gastrointestinal system.
Animal disease outbreaks on account of animal slaughter, trade halts, and subsequent disease eradication efforts can cost a nation millions of dollars. For instance, PRRSV, a virus that causes stillborn piglets, costs the United States’ farmers an annual $600 million. Animal disorders with human health implications can significantly affect aspects such as global trade, public health, as well as the stability of the economy’s agricultural segment. Furthermore, healthy animals are more likely to lead to safer food supplies, higher farm productivity, including elevated numbers of offspring, minimal environmental impact, and enhanced animal welfare.
The global eubiotics market growth is evaluated across the Asia-Pacific, Europe, North America, and the Rest of World. The Asia-Pacific is set to progress with the highest CAGR during the forecasting years, owing to factors such as income development in developing countries, the considerable rise in meat consumption, and notable lifestyle changes.
Companies with undistinguishable products and more extensive portfolios generate intense competition within the global eubiotics market. They also spend millions of dollars on expanding their product portfolios. In addition, several firms are introducing new products into the market, thus ensuring the availability of alternatives. As a result, industrial rivalry is high across the global eubiotics market.
Some of the top enterprises operating in the market are Cargill Inc, DuPont de Nemours Inc, Archer Daniels Midland Co (ADM), etc.
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