The Asia-Pacific Animal Feed Market finds application across various sectors. It is primarily utilized in the livestock industry, including poultry, swine, cattle, and aquaculture. Animal feed is crucial for providing nutrients, vitamins, and minerals to support animal growth, health, and productivity. Additionally, it is used in specialty pet food formulations and for feeding companion animals. The market also caters to the needs of the burgeoning aquaculture industry, supplying feed for fish and shrimp farming. The diverse applications of the Asia-Pacific animal feed market highlight its significance in supporting the region's agricultural and food production systems.
According to Data Bridge Market Research, the Asia-Pacific animal feed market which was growing at a value of 1,40,744.14 million in 2021 and is expected to reach the value of USD 2,01,689.74 million by 2029, at a CAGR of 4.6% during the forecast period of 2022 to 2029.
“Rising focus on animal health facilitates market growth”
The growing focus on animal health is a significant driver of the Asia-Pacific animal feed market. There is an increasing recognition among farmers and livestock producers about the crucial role that animal nutrition plays in maintaining the health and well-being of animals. A well-balanced and nutritious diet is essential for preventing diseases, improving immune function, and maximizing productivity in livestock. As a result, there is a rising demand for high-quality animal feed that provides optimal nutrition and promotes animal health. This focus on animal health drives the market as farmers prioritize feed products that enhance their livestock's overall health, growth, and performance, leading to increased demand for animal feed in the Asia-Pacific region.
What restraints the growth of Asia-Pacific animal feed market?
“High prices of raw materials”
The high prices of raw materials serve as a significant restraint in the Asia-Pacific animal feed market. Raw materials, such as grains, soybean meal, and fishmeal, constitute a substantial portion of animal feed production costs. Fluctuations in commodity prices, limited availability, and increased demand can lead to significant cost variations, impacting the profitability of animal feed manufacturers. The high raw material prices not only increase production costs but also affect farmers' affordability of animal feed. This can hinder market growth as farmers may seek alternative and more cost-effective feeding options or reduce their livestock production, ultimately impacting the region's overall demand for animal feed.
Segmentation: Asia-Pacific Animal Feed Market
The animal feed market is segmented on the basis of type, livestock and form.
- On the basis of type, the Asia-Pacific Animal Feed Market is segmented amino acid, minerals, vitamins, Acidifiers, mycotoxin detoxifiers, enzymes, phosphate,
- Carotenoids, antioxidants, flavors and sweeteners, antibiotics, non-protein nitrogen, and others.
- On the basis of livestock, the Asia-Pacific animal feed market is segmented swine, poultry, ruminants, aquatic animals, and others.
- On the basis of form, the Asia-Pacific animal feed market is segmented dry and liquid.
Regional Insights: Asia-Pacific dominates the Asia-Pacific Animal Feed Market
Asia holds a significant position in the Asia-Pacific region, contributing to approximately half of its output and serving as the primary pork consumption and production market. The region's substantial appetite for pork meat drives the demand for animal feed products, making it the largest market. This high pork consumption in Asia-Pacific reflects the region's prominence in the global pork industry and highlights the importance of the market for animal feed suppliers and producers.
To know more about the study visit, https://www.databridgemarketresearch.com/ar/reports/asia-pacific-animal-feed-market
Recent Developments in Asia-Pacific Animal Feed Market
- In October 2021, Cargill and BASF partnered in the animal nutrition business, combining their research and development capabilities and expanding their reach in the feed enzymes market. This collaboration aimed to develop and market customer-focused enzyme products and solutions for animals, particularly in the swine sector.
- In July 2021, De Heus acquired Coppens Diervoeding, a Dutch feed manufacturing company specializing in pig farming. The acquisition allowed De Heus to double its production capacity and significantly increase its regional presence by adding 400k to its existing capabilities. This strategic move strengthened De Heus' position in the pig farming sector and expanded its market share in the feed industry.
The Prominent Key Players Operating in the Asia-Pacific Animal Feed Market Include:
- CHR. Hansen Holdings A/S (Denmark)
- Lallemand Inc. (Canada)
- Novus International (U.S.)
- DSM (Netherlands)
- BASF SE (Germany)
- Alltech (U.S.)
- 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.)
Above are the key players covered in the report, to know about more and exhaustive list of Asia-Pacific animal feed market companies contact, https://www.databridgemarketresearch.com/ar/contact
Research Methodology: Asia-Pacific Animal Feed Market
Data collection and base year analysis are done using data collection modules with large sample sizes. The market data is analyzed and estimated using market statistical and coherent models. In addition, market share analysis and key trend analysis are the major success factors in the market report. 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, global vs Regional and Vendor Share Analysis. Please request analyst call in case of further inquiry.
