Covid-19 Impact on Eubiotics Market Size to surge at 8.1% CAGR is expected to reach $11.1 Billion in 2027

January 2021 | Report Format: Electronic (PDF)

Eubiotics Market Growth & Trends

The global eubiotics market size is anticipated to reach USD 11.1 billion by 2027, 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.

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Eubiotics Market Report

Eubiotics Market Report Highlights

• Concerns over antibiotic traces found in meat are expected to result in a rise in the usage of product by meat industry participants
• Development of customized products to suit specific applications, such as gut health, is a major market characteristic
• The outbreak of COVID-19 disease in Wuhan, China, in December 2019 has negatively influenced the Chinese markets as well as the economy. Shutdown of factories, trade bans, and domestic lockdowns are estimated to hamper market growth in the country over a short period
• The further spread of pandemic to U.S., India, Italy, Germany, and U.K. has blocked the raw material supply. China and India are the most affected countries in Asia and the key players in the market, has observed a complete lockdown of manufacturing units in the countries, which is estimated to result in the supply-demand gap in the short run.