The Asia Pacific animal feed market is expected to grow at a CAGR of 6.14% over the forecast period to reach a market size of US$214.546 billion in 2027 from US$141.349 billion in 2020.
Rapid urbanization and rising disposable income in the region are expected to be the prime drivers behind this growth during the forecast period. In countries like India, the livestock population especially cattle, are associated with the rising human population, with the changing technology and growing meat industry in the region the market is anticipated to grow significantly in the coming years. In addition, rising consumer health awareness is further expected to widen up growth opportunities for vendors and manufacturers in the region. Further, according to a study by the FAO, it has been predicted that livestock production in the APAC region is expected to rise by 14% between 2021 and 2030. The development and growth of livestock production across the region are expected to lead to significant demand for highly nutritious animal feed products. The rise in the industrial production of beef, pork, mutton, and poultry overgrazing and mixed farming is projected to boost the demand for high-grade animal feed products in the Asia Pacific.
Growing focus on animal health and increase in the demand for organic meat to propel market growth
A rising focus on animal health is also predicted to drive market expansion. Increased cattle farming is projected to drive demand for animal feed, due to the burgeoning demand for animal-based products by humans. Natural growth supporters are thus forecasted to be active in the market as their momentum grows further. Growing consumer awareness regarding the advantages of using feed additives to mitigate or even prevent harmful diseases is projected to increase market demand. Concerns about food safety are likely to augment the demand for high-quality animal feed to guarantee the safety of meat. Further, the growth of the animal feed market in the region is also growing due to the growing farm owners’ awareness of the importance of maintaining a healthy diet for the animals. As a result, they are shifting from using the standard animal feed to adopting functional and premium variants that would help improve enzootic disease immunity while also alleviating the risk of metabolic disorders, injuries, acidosis, and infections. Furthermore, a rise in the demand for organic meat from consumers across various countries in the region, as well as the undertaking of new animal-rearing practices and the maintenance of high farming standards, has projected a positive outlook for the market in the region.
During the COVID-19 pandemic, agriculture and food production were considered as critical sectors in Asia-Pacific. Consequently, farmers have always strived to provide high-quality nutrition to their farm animals in order to cater to a growing volume of Asia-Pacific consumer demographic. However, the supply chain got disrupted majorly during the pandemic due to social distancing measures and mandated lockdowns, which caused a stir in the production, as well as transportation of these products. However, China, which is a major producer and exporter of animal feed products, managed to stockpile sufficient products to counter supply for the next 2-3 months during the emergence of the pandemic while many businesses were closed for the Lunar New Year.
|Market Size Value in 2020||US$141.349 billion|
|Market Size Value in 2027||US$214.546 billion|
|Growth Rate||CAGR of 6.14% from 2020 to 2027|
|Forecast Unit (Value)||USD Billion|
|Segments Covered||Type, Livestock, Raw Materials, Production Systems, Distribution Channel, And Country|
|Regions Covered||China, Japan, India, South Korea, Australia, Indonesia, Vietnam, Thailand, Taiwan, Others|
|Companies Covered||NCargill, Incorporated, Kemin Industries, Inc., New Hope Liuhe Co., Ltd., Archer-Daniels-Midland Company, Weston Milling Animal Nutrition, De Heus Beheer B.V., Tyson Foods Inc., Alltech Inc., East Hope Group, Godrej Agrovet Limited|
|Customization Scope||Free report customization with purchase|
1.1. Market Overview
1.2. Covid-19 Scenario
1.3. Market Definition
1.4. Market Segmentation
2. RESEARCH METHODOLOGY
2.1. Research Data
3. EXECUTIVE SUMMARY
3.1. Research Highlights
4. MARKET DYNAMICS
4.1. Market Driver
4.2. Market Restraints
4.3. Porters Five Forces Analysis
4.3.1. Bargaining Power of End-Users
4.3.2. Bargaining Power of Buyers
4.3.3. Threat of New Entrants
4.3.4. Threat of Substitutes
4.3.5. Competitive Rivalry in the Industry
4.4. Industry Value Chain Analysis
5. ASIA PACIFIC ANIMAL FEED MARKET, BY TYPE
5.4. Compound Feed
6. ASIA PACIFIC ANIMAL FEED MARKET, BY LIVESTOCK
6.3. Aquatic Animals
7. ASIA PACIFIC ANIMAL FEED MARKET, BY RAW MATERIALS
7.4. Rendered Meal
8. ASIA PACIFIC ANIMAL FEED MARKET, BY PRODUCTION SYSTEMS
8.3. Commercial mills
9. ASIA PACIFIC ANIMAL FEED MARKET, BY DISTRIBUTION CHANNEL
9.2. Direct selling
10. ASIA PACIFIC ANIMAL FEED MARKET, BY COUNTRY
10.5. South Korea
11. COMPETITIVE ENVIRONMENT AND ANALYSIS
11.1. Major Players and Strategy Analysis
11.2. Emerging Players and Market Lucrativeness
11.3. Mergers, Acquisitions, Agreements, and Collaborations
11.4. Vendor Competitiveness Matrix
12. COMPANY PROFILES
12.1. Cargill, Incorporated
12.2. Kemin Industries, Inc.
12.3. New Hope Liuhe Co., Ltd.,
12.4. Archer-Daniels-Midland Company
12.5. Weston Milling Animal Nutrition
12.6. De Heus Beheer B.V.
12.7. Tyson Foods Inc.
12.8. Alltech Inc.
12.9. East Hope Group
12.10. Godrej Agrovet Limited
Kemin Industries, Inc.
New Hope Liuhe Co., Ltd.,
Weston Milling Animal Nutrition
Tyson Foods Inc.
East Hope Group
Godrej Agrovet Limited
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