Asia Pacific Direct-fed Microbials Market Forecast 2019-2028
The Asia Pacific direct-fed microbials market is slated to evolve at a CAGR of 7.79% during the forecast period, 2019-2028. Milk consumption rate has increased in countries like India and China, which is estimated to contribute to market growth. There is also a surging awareness about the side-effects of using antibiotics, which will result in the reduction of their use. Therefore, the use of animal probiotics is projected to increase at a rapid pace, thereby replacing the use of antibiotics.
Indonesia, Japan, China, India, South Korea, Vietnam, Thailand, Australia & New Zealand, and the rest of the Asia Pacific are analyzed for evaluating the Asia Pacific direct-fed microbials market growth. The market for farm animals has flourished in Japan over the years. It is also considered as the second-largest market for animal health products in the world. India is an agriculture-based country, where the maintenance of livestock is one of the major concerns. Animals play a vital role in the agricultural economy, and India houses a huge livestock population. The increasing epidemic in the livestock has resulted in poultry farmers infusing direct-fed microbials into animal feed. The importance of livestock animals and the awareness of the economic impact of diseases are influencing growth in the Indian market.
In Thailand, the growing livestock population and rising availability of products for farm animals fuel market growth. The country is also one of the world’s largest poultry industries. It was the fourth-largest exporter of chicken in 2003. South Korea saw an increase in the total raw milk production in 2016, where it accounted for 3.6% of the whole GDP of the agricultural sector. The Diary processing industry is the third-largest food processing industry in South Korea. Such aspects contribute to the overall market growth of the region.
Some of the well-established companies operating in the market include, Novozymes, Lallemand Inc, Koninklijke DSM N.V., Nutraferma, Novus International Inc, etc.
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