Eubiotics Market Overview
The Eubiotics Market is showcasing evident potential in the mentioned forecasting period. Eubiotics play a vital role in providing medicinal benefits to livestock such as preclusion and prevent other diseases common in animals. Apart from this they also carry nutrition value with them. The increase in capability of producing Eubiotics and commercialization of farming has led the agriculture based industries to take interest in the market lately.
Eubiotics are generally used as feed additives for animals. They help in preventing various diseases in animals thus keeping them healthy and in turn increasing their productivity. It creates an appropriate balance of the micro flora in our gastrointestinal tract and helps in maintaining a hygienic living.
The ban on antibiotics has created an open window for Eubiotics to enter the agriculture industry and take their place. It had been one of the major reason for the recent growth of the Eubiotics Market. Other important factors driving the global eubiotics market growth include industrialization of livestock industry, rising demand for naturally derived products and increasing instances of livestock disease. These factors have been responsible for growth of the market lately, although some of the factors have resulted in being hurdles to the Eubiotics Market as well. Some of them are competition for raw materials from other industries, regulatory frame work and low awareness of product efficiency.
Eubiotics Market Forecast Report (2018-2023)
The Global Eubiotics Market was worth USD 5190.24 million in 2018 and estimated to be growing at a CAGR of 8.04%, to reach USD 7640.3 million by 2023.
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Eubiotics Market Segmentation
The Global Eubiotics Market is segmented on the basis of type and livestock. Based on type the Eubiotics Market is segmented into probiotics, prebiotics, organic acids and essential oils. Probiotics is further fragmented in lactobacilli, bifidobacteria and others. Prebiotics are segmented in inulin, fructo-oligosaccharides, galacto-oligosaccharides and others. Probiotics lead the market share under type segmentation because of its efficiency over other types. Based on livestock the segmentation is done into ruminant, poultry, swine, aquaculture, horses and others. The Eubiotics Market for poultry is expected to have the highest CAGR among all the sub segments of livestock, as Eubiotics help in increasing the growth rate of poultry and maintain their high nutrition value.
On the basis of geographical analysis, the global Eubiotics Market is segmented into various regions namely North America, Europe, Asia-Pacific and Rest of the World. The Eubiotics market was dominated by Europe. Europe was followed by Asia-Pacific and North America. Asia Pacific is predicted to grow at a rapid pace in the coming few years with the help of investments from several multinational manufacturers.
The major companies dominating this market for its products and services are
- Royal DSM,
- BASF SE,
- Hansen A/S, Kemin Industries Inc.,
- Cargill Incorporated,
- I. Du Pont De Nemours and Company,
- Novus International Inc.,
- Behn Meyer Group,
- Beneo Group.
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