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Market InsightGlobal COVID-19 Impact on Eubiotics Market is growing continually, mainly due to the growing demand for quality animal feed products. Eubiotics improve the quality of animal nutrition and feeds, which help to improve gut health and immunity of livestock. Also, eubiotics work as digestive stimulants, which build a healthy balance of micro-flora in the gastrointestinal tract of animals. Growing health concerns in animals have increased a sizeable awareness about the benefits of eubiotics.
The increasing awareness regarding farm animal health escalates the growth of the eubiotics to furthered height. According to Market Research Future (MRFR), the global eubiotics market valuation is projected to scale-up exponentially by 2023. In its resent COVID-19 Analysis, MRFR also asserts that the market would register a phenomenal CAGR during the assessment period (2020-2023). Increasing product launches of eubiotics-based feed additives act as a major tailwind for the market growth.
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Although the eubiotic market had slowed considerably as a COVID-19 impact, it is gearing up significantly as the lockdown regulations gradually relax. Also, the growing demand for improved feed performance drives the growth of the market. Besides, augmenting demand for milk and meat products led by the rising consumption of these products among the ever-increasing population acts as a significant driving force for the market growth.
Competitive Analysis
Highly competitive, the COVID-19 Impact on Eubiotics Market appears fragmented due to the presence of several large and small players. To gain a larger competitive share, Industry players incorporate strategies such as mergers & acquisitions, collaborations, expansions, and product/technology launch. These players also invest substantially to drive R&D to develop a new product/technology and expand their global footprints.
Manufacturers significantly invest in the development of cutting-edge production techniques. Players compete based on pricing, quality, reputation, and services.
Players leading the Eubiotics Market include Koninklijke DSM NV (the Netherlands), E. I. du Pont de Nemours and Company (US), Cargill Inc. (US), Novozymes A/S (Denmark), BASF SE (Germany), CHR Hansen Holding A/S (Denmark), Kemin Industries, Inc. (US), Calpis Co., Ltd. (Japan), Lallemand Inc. (Canada), and Behn Meyer Holding AG (Germany), among others.
Industry/ Innovation/ Related News
April 17, 2020 - UMG Investments, an investment company in Ukrainian, announced the acquisition of a stake in animal fat and Eubiotics producer Feednova (Ukrainian). UMG focuses on the supply chain for processing sectors. Feednova would process raw materials from external suppliers to produce Eubiotics and animal fat for farm and domestic animals. It is implementing a project to build a plant to produce high protein Eubiotics and animal fat in Busk, Lviv region.
Market Segments
The report is segmented into five dynamics.
By Type : Prebiotics, Probiotics, and others.
By Form: Dry, Liquid, and others.
By Function: Gut & Digestive Health, General Health & Wellness, Immunity, and others.
By Livestock: Poultry, Swine, Ruminants, Aquatic, and others.
By Regions: Americas, Europe, Asia-Pacific, Middle East & Africa, and Rest-of-the-World.
Regional Analysis
Europe dominates the COVID-19 Impact on Eubiotics Market. The largest market share attributes to the growing consumption of eubiotics as an additive in animal feed industries in the region. Besides, factors such as the increasing awareness towards animal health and rising demand for quality animal feed increases the sale of the eubiotics market in the region. Moreover, the massive demand for dairy cattle feeds from the growing milk & meat products industries in the EU and Eastern European region drives the market growth. Also, advances in the manufacturing technologies and farming practices for poultry and swine animals are major growth drivers for the regional market. Germany accounts for the key contributor to the regional market growth, followed by France. The European Eubiotics market is expected to retain its leading position in the global market throughout the forecast period.
North America is another lucrative market for Eubiotics, globally. The market is driven by the rising demand for prebiotics and probiotics in animal feed products. Additionally, stringent regulations against the use of antibiotics in animal feed as a growth promoter have uplifted the market demand for eubiotics in the region, which boosts the growth of the market. Moreover, the presence of several large Eubiotics manufacturing companies in the region fosters market growth. The North American Eubiotics market is expected to create a substantial revenue pocket.
The Eubiotics market in the Asia Pacific region is growing continually. Factors such as the spurting rise in the livestock feed industry and the improving demand-supply ratio propel the growth of the market. Besides, the growing consumption of dairy & meat products and surging demand for livestock products push the growth of the regional market. Moreover, the rising demand for prebiotics and probiotics in animal feed products are a major growth catalyst for the market increase. The APAC Eubiotics market is estimated to grow at a phenomenal CAGR during the review period.
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NOTE: Our Team of Researchers are Studying Covid19 and its Impact on Various Industry Verticals and wherever required we will be considering Covid19 Footprints for Better Analysis of Market and Industries. Cordially get in Touch for More Details.
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