The Asia Pacific compound feed market size is estimated to register a CAGR of 4.2% during the forecast period, 2021-2028. The growth of the market is attributed to increasing demand for dairy products and growing inclination towards animal-based food products.
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Compound feed is a type of fodder, which is prepared by blending several raw materials and additives. These are utilized feed to livestock and aquatic animals. Feed plays an important role in the growth and performance of the animals.
China and India are contributing a major share to the growing market. China is one of the prominent compound feed manufacturers in the world, accounting for about half of the production in the region. Compound feed maintains the health of animals, and thus help to increase the quality of end products, such as eggs, milk, meat, and fish.
Market Drivers, Restraints, Trends, and Opportunities
- Rising awareness about the benefits of providing compound feed instead of forage or silage feed among growers is driving the growth of the market.
- Increasing awareness about precision nutrition techniques and the growth of the organized livestock sector in developing countries are fueling the market growth.
- Reduced focus on the quality of the ingredients and feed can restrain the growth of the market in the projected timeline.
- Rising investment in the R&D activities to improve the feed quality is expected to positively influence the market growth.
Asia Pacific Compound Feed Market Segment Insights
Cereals segment to account a considerable market share
Based on ingredients, the market is divided as cereals, oilseeds, oil, molasses, supplements, and others. The cereals segment is projected to account for a considerable market share during the forecast period. The segment growth is owing to the rising use of cereals as compound feed for feeding farm animals, such as chickens. Wheat, rice, maize, oat, barley, millets are some of the cereals widely consumed by farm animals.
Vitamins segment to account a significant market share
On the basis of supplements, the market is segregated into vitamins, amino acids, antibiotics, enzymes, antioxidants, acidifiers, and probiotics & prebiotics. The vitamins segment is expected to account for a significant market share during the forecast period. The segment growth is attributed to the increasing demand for feed containing vitamins for the animals. To increase the nutritional value of the animal’s meals, vitamins are being incorporated in the feed. This is driving the growth of the vitamins segment.
Poultry segment to account a major market share
In terms of animal category, the market is classified as ruminant, swine, poultry, aquatic, and others. The poultry segment is projected to account for a major market share during the forecast period. The segment growth is attributed to the rising demand for high quality chicken and eggs in the region. Hence, to keep the chickens in the poultry farms healthy, their diet requires healthy feed.
The market in China to exhibit a high CAGR
On the basis of geography, the market is segregated as China, India, Thailand, Japan, South Korea, and Australia. The market in China is anticipated to exhibit a high CAGR during the forecast period. China is one of the largest producer of compound feed in the world. In the country, poultry accounts for nearly 90.5 million metric tons, followed by swine at 51.7 million metric tons, ruminants at 20.1 million metric tons and aquaculture at 16.5 million metric tons.
Compititive Landscape
Some of the major players in the market are Cargill Inc., Charoen Pokphand Foods, ADM Animal Nutrition, Alltech Inc., Nutreco, and Purina Animal Nutrition LLC.
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According to the IMARC Group Swine feed includes processed, semi-processed, and raw food items for pigs, generally made by combining natural corn, soybean, and wheat-based ingredients.
They help in improving the quality of pork and maintaining the health of pigs by reducing the risk of metabolic disorders, acidosis, and infections.Request for a free sample copy of this research report: https://www.imarcgroup.com/asia-pacific-swine-feed-market/requestsampleThe rising demand for pig meat across various countries, such as China, Vietnam, the Philippines, Thailand, etc., is primarily driving the growth of the Asia Pacific swine feed market.
Furthermore, numerous regional manufacturers are introducing vitamin supplements and several other nutrients in the swine feed to enhance the quality and texture of the pork.
Additionally, the growing awareness towards various nutritional benefits of swine feed has resulted in the rising number of swine feed mills across the Asia Pacific region.
In accordance with this, several pig farmers are shifting from conventional swine feed towards functional and premium variants that help in boosting the immunity of the animals against enzootic diseases.
Besides this, the increasing demand for organic pig meat is anticipated to further propel the market for swine feed in the Asia Pacific region over the forecasted period.
