Indonesia Animal Feed Market Is Projected To Grow At CAGR Of 4.01% During The Forecast Period To Reach A Market Size Of US$ 10.735 Billion In 2024

Posted by Gaurav Singh 10-09-2019 Press Releases

The recent study on the Indonesia animal feed market covers an in-depth analysis of the market on the basis of type, livestock, raw material, and production systems. The report also covers the country level analysis within the regions as well. Additionally, the report covers the key trends in the market along with drivers and restraint during the forecast period 2019-2024. According to the report titled “Indonesia animal feed Market”, the market is expected to increase from US$ 8.479 billion in 2018 to US$ 10.735 billion by 2024, at a CAGR of 4.01% during the projected period. The report has segmented the Indonesia animal feed market by type (fodder, forage, compound feed), by livestock (swine, aquatic animals, cattle, poultry, others), by raw material (soya, canola, rendered meal) and by production systems (integrated, commercial mill). Animal feed is products that are responsible for improving the health of animals. The feed is given in various doses depending on the animal. Animal health market is one of the emerging markets in the country which is driving the use of livestock feed in the coming years. Improving animal nutrient availability, digestibility and growing livestock population are some of the key drivers that are promoting the growth of animal feed during the forecast period. In addition, the rapidly growing population coupled with rising meat consumption is further expected to propel the market growth opportunities in the coming years.

Poultry Livestock Segment Is Expected To Account For A Significant Share In The Market

Poultry livestock segment in Indonesia animal feed market is estimated to have a significant share in terms of both value and volume in the global market and is further anticipated to grow during the forecast period on account of increasing consumption of poultry as the healthy source of protein in the country and rising poultry production. According to the Food and Agriculture Organization of the United Nation (FAO), chicken production in Indonesia has increased from 13496260 units in 2010 to 20533970 units in 2016. In addition, rapid urbanization and growing animal health awareness are further anticipated to boost the demand for poultry segment in the coming years.

Some of the major industry players profiled as part of the report are East Hope Group, Kemin Industries, Inc, Novus International, BASF SE, Novozymes, J.R. Simplot Company and Archer Daniels Midland Company among others.

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