Market Trends of Asia Pacific Eubiotics Industry
Rapid Growth of the Livestock and Aquaculture Industry
The growth of livestock and aquaculture industries in the Asia-Pacific region is increasing the demand for feed additives, including eubiotics. According to the 2023 World Organisation for Animal Health (WOAH) report on China's livestock census data, pigs constitute 51% of the total livestock population.
The region's aquaculture sector is experiencing rapid growth due to recent government policies. In India, the Ministry of Fisheries, Animal Husbandry, and Dairying implemented the Pradhan Mantri Matsya Sampada Yojana (PMMSY), providing financial assistance for fishing infrastructure and credit-linked subsidies to fish farmers. As a result, India's fish production has increased significantly. The Department of Fisheries reported that in FY 2022-23, the country produced 175.45 lakh metric tons of fish, ranking third globally in fish production.
The increasing meat consumption in the region is also contributing to market growth. According to the Australian Bureau of Statistics, the value of poultry slaughtered in 2023 reached USD 2.56 billion, a 7.6% increase from the previous year's value of USD 2.37 billion.
China to Dominate the Eubiotics Market
China holds a significant position in the global feed probiotics industry, accounting for approximately half of the revenue share in the Asia-Pacific market. The production of eubiotics, particularly probiotics for the aquaculture industry, is a flourishing sector in China. Lactobacillus is the predominant probiotic bacteria used in the Chinese aquafeed industry. The country's expanding meat production, driven by the need to feed its large domestic population, is a key factor propelling the market. In 2022, China's meat production reached around 90 million metric tons, marking the country's highest production level and representing one-quarter of the global total meat production.
China's population consumes pork more frequently than other meats, driving the demand for eubiotics in swine feed. In 2023, China achieved a record-breaking pork production of 57.94 million metric tons, a 4.6% increase from the previous year, according to the National Bureau of Statistics of China. Feed companies are expanding their eubiotics distribution in the country to meet this growing demand. For example, in 2023, Novus International, Inc. partnered with Co-Innova Animal Nutrition Technology (Shanghai) Co., Ltd. to distribute its products in China, including ACTIVATE DA, an organic acid-based nutritional feed additive for pigs.
