The livestock industry is an essential part of agricultural development in Asia. In recent decades, it has grown remarkably, helping to meet the surging demand for livestock products. Farm animals, such as poultry, swine, and cattle, play an essential economic and social role in Asian countries. With rapid economic growth, the demand for meat protein has risen significantly in Asia, especially in India, Malaysia, China, and Thailand. This has led to a growing demand for animal feed, as it is the primary source of nutrition for livestock. The Asia-Pacific animal feed market is a growing opportunity for businesses that are able to meet the demand for high-quality, nutritious feed.
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Data Bridge Market Research analyses that the Asia-Pacific Animal Feed Market, valued at 140,744.14 million in 2021, is expected to reach the value of USD 201,689.74 million by 2029, by growing at a CAGR of 4.60% during the forecast period of 2022 to 2029. The region's supremacy is due to rising earnings, increased meat consumption, and increased meat production. China, Vietnam, Malaysia, India, and Indonesia are the region's top compound feed consumers. China and India are the region's largest markets, contributing significantly to rising demand. China is one of the world's leading compound feed makers, contributing for half of the region's output. The market is being driven by an increasing concern for animal welfare and government initiatives.
Growing demand for animal protein is expected to drive the market's growth rate
One of the main drivers of the Asia-Pacific animal feed market is the rising demand for animal protein. As incomes in the region continue to grow, people are eating more meat, poultry, and fish. This is driving demand for animal feed, as it is the primary source of nutrition for livestock. The population of Asia is expected to reach 5.3 billion by 2050, up from 4.5 billion in 2020. This growth in population will lead to an increased demand for food, including meat, poultry, and fish. There is a growing trend towards Western-style diets in Asia, which are typically higher in meat consumption. This is being driven by a number of factors, including urbanization, the increasing availability of processed foods, and the influence of Western media.
Report Scope and Market Segmentation
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Report Metric
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Details
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Forecast Period
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2022 to 2029
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Base Year
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2021
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Historic Years
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2020 (Customizable to 2014- 2019)
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Quantitative Units
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Revenue in USD Million, Volumes in Units, Pricing in USD
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Segments Covered
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Type (Amino Acid, Minerals, Vitamins, Acidifiers, Mycotoxin Detoxifiers, Enzymes, Phosphate, Carotenoids, Antioxidants, Flavors & Sweeteners, Antibiotics, Non-Protein Nitrogen and Others), Livestock (Swine, Poultry, Ruminants, Aquatic Animals and Others), Form (Dry and Liquid)
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Countries Covered
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Japan, China, India, South Korea, New Zealand, Vietnam, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in Asia-Pacific (APAC)
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Market Players Covered
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CHR. Hansen Holdings A/S (Denmark), Lallemand Inc. (Canada), Novus International (U.S.), DSM (Netherlands), BASF SE (Germany), Alltech (US), ADM (U.S.), Charoen Popkphand Foods PCL (Thailand), Associated British Foods Plc (U.K.), Cargill Incorporated (U.S.), Purina Animal Nutrition LLC (U.S.), Zinpro Corp (U.S.), Dallas Keith (U.K.), Balchem Inc., (U.S.), Kemin Industries, Inc. (U.S.)
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Data Points Covered in the Report
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In addition to the insights on market scenarios such as market value, growth rate, segmentation, geographical coverage, and major players, the market reports curated by the Data Bridge Market Research also include in-depth expert analysis, geographically represented company-wise production and capacity, network layouts of distributors and partners, detailed and updated price trend analysis and deficit analysis of supply chain and demand
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Segment Analysis:
The Asia-Pacific animal feed market is segmented into five notable segments based on type, livestock and form.
- On the basis of type, the Asia-Pacific animal feed market is segmented into amino acid, minerals, vitamins, Acidifiers, mycotoxin detoxifiers, enzymes, phosphate, Carotenoids, antioxidants, flavors & sweeteners, antibiotics, non-protein nitrogen, and others. The amino acid segment is expected to dominate the Asia-Pacific animal feed market with the largest market share of 30.92%. Amino acids are mainly responsible for building blocks of tissues and milk proteins in animals and any deficiency of amino acid breaks the immune response and reduces the production in animals.
- On the basis of livestock, the Asia-Pacific animal feed market is segmented into swine, poultry, ruminants, aquatic animals and others.
Swine is expected to dominate the Asia-Pacific animal feed market
The swine segment is expected to dominate the Asia-Pacific animal feed market with the largest market share of 35.83%. The increased demand and consumption of meat and meat based proteins in the Asia-Pacific countries makes the swine livestock the dominating livestock segment in the Asia-Pacific animal feed market.
- On the basis of form, the Asia-Pacific animal feed market is segmented into dry and liquid.
Dry segment is expected to dominate the Asia-Pacific animal feed market
The dry segment is expected to dominate the market with a market share of 75.96% due to largest livestock market with high GDP. However, the dominant segment in the form category can depend on factors such as ease of handling, stability of nutrients, and suitability for different feeding systems. Market dynamics, technological advancements, and specific product formulations play a crucial role in determining the dominant form segment in the Asia-Pacific animal feed market.
Major Players
Data Bridge Market Research recognizes the following companies as the major market players: CHR. Hansen Holdings A/S (Denmark), Lallemand Inc. (Canada), Novus International (U.S.), DSM (Netherlands), BASF SE (Germany), Alltech (US), ADM (U.S.), Charoen Popkphand Foods PCL (Thailand), Associated British Foods Plc (U.K.), Cargill Incorporated (U.S.), Purina Animal Nutrition LLC (U.S.), Zinpro Corp (U.S.), Dallas Keith (U.K.), Balchem Inc., (U.S.), Kemin Industries, Inc. (U.S.).
Asia-Pacific Animal Feed Market
Market Development
- In 2022, ADM Animal Nutrition, a global leader in animal nutrition, acquired South Sunrays Milling Corporation's feed mill in Polomolok, South Cotabato, in May. The addition represents a step forward in providing a diverse range of cutting-edge items to suit Asia's demand for innovative and high-quality animal feeding solutions.
- In 2021, ADM intensified its worldwide nutrition capabilities in October with the opening of ADM Food Technology (Pinghu), a cutting-edge, fully automated flavour production facility in Pinghu, Zhejiang Province, China. The new, cutting-edge flavour plant in Pinghu will serve as ADM's flavour supply hub in Asia-Pacific, allowing ADM to harness knowledge and cutting-edge technology to further meet client needs and further our growth goal.
Regional Analysis
Geographically, the countries covered in the market report are Japan, China, India, South Korea, New Zealand, Vietnam, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, and Rest of Asia-Pacific (APAC) in Asia-Pacific (APAC).
As per Data Bridge Market Research analysis:
China is the dominant region in the Asia-Pacific animal feed market during the forecast period 2022-2029
China is the largest market in Asia-Pacific animal feed market. China is the world's largest producer of animal feed, with a market share of over 30%. The Chinese animal feed market is driven by the country's large and growing population, as well as its rising affluence.
India is estimated to be the fastest growing region in the Asia-Pacific animal feed market in the forecast period 2022-2029
India will grow at the fastest rate. India is the second largest producer of animal feed in the world, with a market share of over 15%. The Indian government is promoting the growth of the livestock industry, as it is seen as a way to boost economic growth and create jobs.
For more detailed information about the Asia-Pacific animal feed market report, click here – https://www.databridgemarketresearch.com/reports/asia-pacific-animal-feed-market
