Animal Feed Market has shown an exceptional penetration in countries such as China, India and Japan. But, due to the increasing vegan population across the globe, the animal feed market has not created any head turning penetration in the developing countries.
According to Data Bridge Market Research the market for China in the Asia-Pacific animal feed market has the highest share followed by India and Japan. The market leader New Hope Group accounts an estimated market share of approximately 9% to 10% of market share in the Asia-Pacific. The animal feed sales revenue of New Hope Group has increased at a stagnant rate in 2019 as compared to 2018. The company has planned to expand their business of animal feed in the other parts of Asia-Pacific region, in order to gain traction of animal feed farmers. For instance, in October 2019, the market leader New Hope Group has signed an agreement to expand their business in Vietnam. With this effort, the company is expected to see a tremendous growth of approximately 27% to 30% in its overseas revenue. The expansion in the company’s animal feed mill will help them to grow their business internationally, thus helping them to set-up overseas poultry farms. Though the addition of pig farms in Vietnam could be risky, due to the outbreak of dangerous swine fever that has killed Vietnam’s swine herd in past. But, the investment made by the company is expected to take a positive turn in future, as there is an increased demand for animal feed throughout the Asia-Pacific region.
Trends Impacting the Market
Now the question is which other countries New Hope Group, BASF SE and AMBOS Stockfeeds are targeting? Data Bridge Market Research has forecasted a large growth in China animal feed market and the market leaders targeting Vietnam to be their next revenue pockets for 2020.
Animal feed market is becoming more competitive every year with companies including New Hope Group and BASF SE are the market leaders for animal feeds. The Data bridge market research new reports market.
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INVIVO NSA and Jeil Feed, a South Korean based animal feed manufacturer, have signed an agreement in order to develop innovative, efficient and sustainable solutions for animals in April 2015.
Charoen Pokphand Foods Public Company Limited, a subsidiary of Charoen Pokphand Foods PCL agreed to enter IFFO RS Improver Program to set up a manufacturing line of fishmeal sourcing with the international sources in August 2019
Kemin Industries, Inc. has opened a new innovation and technology center at their Zhuhai facility, which is based in China, in November 2019
Asia-Pacific animal feed market is segmented on the basis of countries into China, India, Japan, Australia, South Korea, Singapore, Indonesia, Thailand, Philippines, Malaysia and Rest of Asia-Pacific.
All country based analysis of the animal feed market is further analyzed based on maximum granularity into further segmentation. On the basis of type, the market is segmented into amino acid, minerals, vitamins, acidifiers, mycotoxin detoxifiers, enzymes, phosphate, carotenoids, antioxidants, flavors & sweeteners, antibiotics, non-protein nitrogen and others. On the basis of livestock, the market is segmented into swine, poultry, ruminants, aquatic animals and others. On the basis of form, the market is segmented into dry and liquid.
Major factor driving the growth of this market is the increasing consumption of meat and meat-based proteins especially in the developing countries of Asia-Pacific region thus driving the Asia-Pacific animal feed market in near future.
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Key Pointers Covered in the Animal Feed Market Industry Trends and Forecast to 2027
Key Market Competitors Covered in the report
Above are the key players covered in the report, to know about more and exhaustive list of animal feed companies, contact us https://www.databridgemarketresearch.com/toc/?dbmr=asia-pacific-animal-feed-market
Data collection and base year analysis is done using data collection modules with large sample sizes. The market data is analysed and forecasted using market statistical and coherent models. Also market share analysis and key trend analysis are the major success factors in the market report. To know more please request an analyst call or can drop down your enquiry.
The key research methodology used by DBMR research team is data triangulation which involves data mining, analysis of the impact of data variables on the market, and primary (industry expert) validation. Apart from this, data models include Vendor Positioning Grid, Market Time Line Analysis, Market Overview and Guide, Company Positioning Grid, Company Market Share Analysis, Standards of Measurement, Top to Bottom Analysis and Vendor Share Analysis. To know more about the research methodology, drop in an inquiry to speak to our industry experts.
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Animal Feed Market is Growing Due to the Increasing Consumption of Meat