Market Research Report
Asia-pacific Eubiotics Market Forecast 2021-2028
|Asia-pacific Eubiotics Market Forecast 2021-2028|
Published: September 14, 2021
Content info: 152 Pages
Delivery time: 2-3 business days
The Asia-Pacific eubiotics market is forecasted to grow with a CAGR of 7.68% during the projected period of 2021 to 2028. The regional market's growth is attributable to key drivers like the ban on antibiotics, the increasing disposable incomes, the rise in meat consumption, and the population's changing lifestyles.
The Asia-Pacific eubiotics market growth study encompasses the assessment of Vietnam, Australia & New Zealand, India, South Korea, Japan, China, Thailand, Indonesia, and the rest of the Asia-Pacific. South Korea's government, in 2011, banned the use of antibiotics in animal feed. The country's amended laws constrained the use of one antimicrobial agent, in addition to eight kinds of antibiotics. As a result, the restriction generated a significant demand for antibiotic substitutes such as eubiotics in South Korea.
On the other hand, antibiotic resistance (ABR) is a growing concern in Thailand and subsequently puts severe strain on the country's economy and health. In this regard, the Thai government established numerous measures in order to battle antibiotic resistance. For instance, Thailand formulated a national strategy to tackle the problem using a one-health integrated approach. Furthermore, these government actions facilitate the development of antibiotic substitutes, thereby expanding the eubiotics sector. Hence, such factors are set to supplement the market growth in the Asia-Pacific during the forecasting years.
The top corporations operating in the market are: Neospark Drugs and Chemicals Private Limited, Behn Meyer Group, BASF SE, Calpis Co Ltd, etc.