Global Eubiotics Market to Surpass Reach US$ 12 Bn by 2029
The global eubiotics market is projected to reach US$ 12.4 Bn by the end of 2029. The market was valued at a little above US$ 6 Bn in 2019. If these figures hold true, the market will exhibit a CAGR of 7.5% between 2019 and 2029. Regionally, Europe holds the leading share in the market, in terms of consumption.
However during the forecast period, Asia Pacific is expected to demonstrate a higher rate of growth. In terms of type, the market can be classified into probiotics, prebiotics, organic acid, and essential oil. Of these, probiotic dominated the global market in 2019. Rising awareness regarding the benefits of probiotics will support the growth of the segment.
Eubiotics Emerges as a Preferred Alternative to Antibiotics
Antibiotics is banned across several countries in the world. For instance, the use of antibiotics is banned in several developed economies, in turn paving way for the entry of eubiotics producers. Eubiotics is gaining popularity, primarily because they are natural digestive stimulants that help in improving the immune system. As a result of this, eubiotic sales is likely to surge in countries facing antibiotics ban.
Excessive coverage has made negative health effects of antibiotics a public concern, compelling governments to ban its usage. This in turn has benefitted the eubiotics market, giving tailwinds to its growth. As a result of this, the demand for different types of eubiotics, including probiotics, prebiotics, essential oil, and organic acid will rise in the coming years. Of these, probiotics is currently leading the global market.
Antibiotics Bans Creates Lucrative Growth Opportunities in Europe
Regionally, the global eubiotics market covers Europe, North America, Latin America, South Asia, East Asia, the MEA, and Oceania. Stringent regulations imposed, banning the use of antibiotics in Europe is a chief growth driver for the eubiotics market in the region. In addition to this, the demand for eubiotics is expected to remain high in Asia Pacific. Growth in this region is propelled by rising demand from countries such as India and China.
Rising Awareness about Health Benefits of Eubiotics will Stoke Growth Opportunities
The rising awareness among consumers about the health benefits of eubiotics will drive market. In addition to this, the market will benefit from their increasing applications in animal feed. A key point to note here is that the rising living standard of people and their increasing disposable income has led to increasing meat consumption. As consumers become more conscious regarding the quality and safety of food, they are more likely to opt for more sustainable alternatives such as eubiotics.
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FREQUENTLY ASKED QUESTIONS ABOUT GLOBAL EUBIOTICS MARKET
What drives the eubiotics market?
The rising demand for healthier alternative for antibiotics is the chief growth driver of the eubiotics market. According to the report by FMI, the demand for eubiotics is expected to surge in response to the rising meat consumption.
Which region will lead the global sales of eubiotics?
Europe currently holds the leading share in eubiotics market. The ban imposed on the use of antibiotics will boost sales of eubiotics in Europe.
Which type segment is witnessing highest demand in eubiotics market?
The demand for probiotics is high among various types of eubiotics available in the market. Probiotics also hold the leading share in the market.
Which segment based on form will record the highest growth?
The demand for solid form of eubiotics is likely to rise at a higher pace over the course of the forecast period.
What are the growth prospects for eubiotics market in emerging nations?
In emerging nations such as India and China, the demand for eubiotics is likely to remain considerably high. The rising living standards and disposable income of consumers have caused a surge in meat consumption in these countries. This in turn creates an environment conducive to the growth of the eubiotics market in emerging nations such as India and China.
The global Eubiotics is segmented in detail to cover every aspect of the market and present complete market intelligence to readers.
- Organic Acid
- Essential Oil
- Nutrition and Gut Health
- North America
- Latin America
- South Asia
- East Asia
- Middle East & Africa