Thailand Animal Feed Market Size, Share, Opportunities, COVID-19 Impact, And Trends By Type (Fodder & Forage, Compound Feed), By Livestock (Aquatic Animals, Cattle, Poultry, Others), By Form (Dry, Liquid), By Production System (Integrated, Commercial Mills), By Source (Organic, Conventional), And By Raw Material (Cereals & Grains, Oilseeds, Pulses, Others) - Forecasts From 2021 To 2026

Published:  Jan 2022 Report Code: KSI061612390 Pages: 97

The Thailand animal feed market is projected to witness a compound annual growth rate of 2.96% to grow to US$6.985 billion by 2026, from US$5.697 billion in 2019. A significant increase in the export of Thai chicken in recent years and it is anticipated that with the opening of a new export destination such as Japan and other European Union countries, the market for animal feed will grow exponentially in the coming years. For instance, according to the Thai Department of Customs, the country’s chicken meat export has increased from nearly 546 thousand MT in 2014 to 950 thousand MT in 2019.

Growing consumption of meat and other livestock products.

Animal feed is considered as the demand-led 'livestock revolution' which is taking place because of a rapidly growing population, income growth, and increasing urbanization. Growing consumption of meat and other end products such as milk, eggs across the different provinces is considered as one of the prime factors driving the market growth during the forecast period. In addition, a growing number of supermarkets, convenience stores, and quick restaurant services have impacted the demand for meat and other products which is further driving the growth of the market in the coming years. For instance, according to the United States Department of Agriculture (USDA), the number of convenience stores in Thailand has increased from 11,797 in 2015 to over 14,403 in 2019. In August 2021, according to European traders, a group of importers in Thailand had ordered and issued an international tender to buy and purchase up to 139,500 tones of animal feed wheat. The traders had stated that the shipments had to be completed by December 2021.

Cattle is projected to hold a notable share in the animal feed market.

By Livestock, Thailand's animal feed market is divided into aquatic animals, cattle, poultry, and others. Cattle and poultry are expected to hold a significant share in the country’s animal feed market. The prime factor driving the segment demand for animal feed is the growing number of cattle populations in the country. Thailand has the largest cattle population in the ASEAN region and is a significant exporter of beef and dairy products. A rising number of cattle heads and heard is expected to drive the market growth. Data from Medwin Publishers shows that the cattle population in the country has increased from 4.71 million heads in 2015 to 5.042 million heads in 2020. Furthermore, increasing consumption of feed by cattle is another key factor that is expected to drive the segment market demand for animal feed. Thai Feed Mill Association report on livestock animal feed consumption shows that feed consumption by cows in the country has grown from 0.62 million tons in 2016 to 1.07 million tons in 2021. Hence increasing consumption will drive significant market growth during the forecasted period.

COVID-19 impact on Thailand animal feed market

The COVID-19 pandemic led to a decline in meat consumption in Thailand, which was a major factor for the decrease in the growth of the animal feed market in the year 2020. The decrease in the number of foreign tourists, a closedown of hotels and other hospitality businesses, and the government’s imposition of stringent measures on social distancing were some of the reasons behind low meat consumption in the country. According to USDA, foreign tourists in Thailand went from 39.9 million tourists prior to the pandemic to 6.7 million in 2020. Furthermore, the trade restrictions implemented by countries all over the world led to reduced feed imports from the other countries. However, the country increased its domestic production of feed materials such as corn which supported the growth of the market during the pandemic. Furthermore, an increase in the price for broken rice, which is used majorly as swine feed in the country, was seen in 2020.

Thailand Animal Feed Market Scope:

Report Metric Details
 Market size value in 2019  US$5.697 billion
 Market size value in 2026  US$6.985 billion
 Growth Rate  CAGR of 2.96% from 2019 to 2026
 Base year  2019
 Forecast period  2021–2026
 Forecast Unit (Value)  USD Billion
 Segments covered  Type, Livestock, Form, Production System, Source, And Raw Material
 Companies covered East Hope Group, Kemin Industries Inc., Novus International, BASF SE, Novozymes, Simplot Company, Archer Daniels Midland Company, Royal DSM N.V, Charoen Pokphand Foods PCL, Verde Tech, Lee Pattana Product Public Company Ltd., Betagro Public Company Ltd.
 Customization scope  Free report customization with purchase

Market Segmentation:

  • By Type
    • Fodder & Forage
      • By Livestock
    • Compound Feed
      • By Livestock
  • By Livestock
    • Aquatic animals
    • Cattle
    • Poultry
    • Others
  • By Form
    • Dry
    • Liquid
  • By Production System
    • Integrated
    • Commercial Mills
  • By Source
    • Organic
    • Conventional
  • By Raw Material
    • Cereals & Grains
      • Wheat
      • Maize
      • Barley
    • Oilseeds
      • Soybean
      • Rapeseed
      • Others
    • Pulses
    • Others
1. INTRODUCTION
1.1. Market Overview
1.2. Covid-19 Scenario
1.3. Market Definition
1.4. Market Segmentation

2. RESEARCH METHODOLOGY  
2.1. Research Data
2.2. Assumptions

3. EXECUTIVE SUMMARY
3.1. Research Highlights

4. MARKET DYNAMICS
4.1. Market Drivers
4.2. Market Restraints
4.3. Porter’s Five Force Analysis
4.3.1. Bargaining Power of Suppliers
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. THAILAND ANIMAL FEED MARKET BY TYPE 
5.1. Introduction
5.2. Fodder & Forage
5.2.1. By Livestock
5.3. Compound Feed
5.3.1. By Livestock

6. THAILAND ANIMAL FEED MARKET BY LIVESTOCK 
6.1. Introduction
6.2. Aquatic animals
6.3. Cattle
6.4. Poultry
6.5. Others

7. THAILAND ANIMAL FEED MARKET BY FORM 
7.1. Introduction
7.2. Liquid
7.3. Dry

8. THAILAND ANIMAL FEED MARKET BY PRODUCTION SYSTEMS 
8.1. Introduction
8.2. Integrated
8.3. Commercial Mills

9. THAILAND ANIMAL FEED MARKET BY SOURCE
9.1. Introduction
9.2. Organic
9.3. Conventional

10. THAILAND ANIMAL FEED MARKET BY RAW MATERIALS
10.1. Introduction
10.2. Cereals & Grains
10.2.1. Wheat
10.2.2. Maize
10.2.3. Barley
10.3. Oilseeds
10.3.1. Soybean
10.3.2. Rapeseed
10.3.3. Others
10.4. Pulses
10.5. Others

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. East Hope Group
12.2. Kemin Industries Inc.
12.3. Novus International
12.4. BASF SE
12.5. Novozymes
12.6. Simplot Company
12.7. Archer Daniels Midland Company
12.8. Royal DSM N.V
12.9. Charoen Pokphand Foods PCL
12.10. Verde Tech
12.11. Lee Pattana Product Public Company Ltd.
12.12. Betagro Public Company Ltd.

East Hope Group

Kemin Industries Inc.

Novus International

BASF SE

Novozymes

Simplot Company

Archer Daniels Midland Company

Royal DSM N.V

Charoen Pokphand Foods PCL

Verde Tech

Lee Pattana Product Public Company Ltd.

Betagro Public Company Ltd.

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