Asia-Pacific Feed Additives Market

Description

The Asia-Pacific Feed Additives market has been accounted for US$XX Million and is expected to grow to US$XX Million by 2022, at a CAGR of XX% during the forecast period. The region holds the largest market share in the global feed additives industry and its share is expected to grow rapidly in coming years. Tremendous population growth over the years, growing demand for proteins worldwide and growing awareness about animal health and nutrition has made this emerging segment of the animal feed industry an dynamic one. Apart from increasing the cost of the final product, feed additives also increase its shelf life and digestion of the animal.

Market Dynamics:

One of the major factors affecting the feed additives market is the increasing complexities of the farm to fork value-chain, mainly because of the inefficiency of distribution channels and storage facilities in the region. Increasing number of the meat-consuming population, growing industrialization in the meat production business and changing food habits of customers, creating demand for meat with specific texture and flavor has indirectly increased the sales of feed additives. Growing awareness against excessive usage of chemicals has caused governments to have stringent regulations, especially for imported foodstuff. This has restrained the export of feed additives from the region, especially to the European Union. However, this has provided an opportunity for innovating better and safer alternatives for conventional additives. Subsidies on meat exports given by countries like India have helped the meat business to grow, thus, indirectly fuelling the growth of animal feed and feed additives industry.

Market Segmentation:

The Feed additives market is divided into antioxidants, vitamins, minerals, amino acids and colorants. Antioxidants and acidifiers are the fastest growing segment, while amino acids have traditionally been the largest, in terms of the market share. Increasing awareness about the side-effects of the additives and governments’ regulations regarding the same, especially those imposed by the European Union has created a necessity for innovation, particularly in the colorants and acidifiers segment.

Geographical Analysis:

India and China have the largest market shares, followed by countries like Vietnam, South Korea Thailand. Thailand, Malaysia and Indonesia are relatively new markets for additives and show promising growth. In India and China, the growth rate is significant, yet steady.

Key Players

Key players in the industry include Kemira OJY, Cargill Inc., Elanco Animal Health Inc., Evonik Industries AG, Archer Daniels Midland Co., DSM Nutritional Products Inc., Pfizer Animal Health, nVivo NSA S.A., Chr. Hansen Inc., Biovet JSC and Lallemand Inc.