Asia-Pacific Feed Minerals Market

Description

Increasing awareness about animal health and the proven effects of trace elements in the development and reproduction of animals have given the Feed Minerals Industry increased significance in the modern day animal feed industry. 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. The worldwide increasing demand for quality meat and meat products, increasing disposable incomes and changing food habits have shaped the market in the region, over recent years.

Market Dynamics:

The Meat, Poultry and Fishery industries in the region have lately realized the importance of cost optimization and the role of nutrition, especially in this particular segment of the food industry. Growing street food culture and tremendous expansion of fast food giants have generated demand for specific kinds of meat. Supplementary minerals in the diets of animals are safer than additives that are used to get the desired texture and shelf life of meat. Increasing awareness about the side-effects of the additives and governments’ regulations regarding the same, especially those imposed by the European Union have also contributed significantly in driving the industry. For maximum efficacy, the provision of supplements has to be done in a regulated manner. Increasing research is being done to find out the effect of various elements on growth and development of the animals and the perfect combination for optimum results. Often, two minerals, equally important cannot be given together, due to metabolism issues of the animal. Thus, the research in this industry only focuses on developing an efficient combination of supplementary minerals, but an overall- more wholesome feed with all the essential minerals.

Market Segmentation:

The feed mineral market is divided into macro and micro minerals. Macro minerals are divided into Calcium, Potassium, Magnesium and Phosphorus, while the micro minerals mainly consist of Zinc, Iron and Copper. The Macro minerals segment has the largest market share. On the basis of animal type, the market is segmented into Pork, Dairy, Fish and Poultry feed. The Poultry feed segment has always been dominant in terms of market share.

Geographical analysis:

China has the largest market shares in the Feed Minerals market. Other countries in the region with a significant market share include India, Japan, Taiwan, Vietnam and South Korea. Thailand, Malaysia and Indonesia are relatively new markets for additives and show promising growth. In India and China, the expected growth rate is significant, yet steady.

Key Players

Some of the key players in the industry include Phibro Animal Health Corp., QualiTech Corp., Ridley Inc., Biochem Lohne Germany, Cargill Inc., Davidsons Animal Feeds, Alltech Inc., Archer Daniels Midland Co., Bio Multimin Inc., Kemin Industries Inc., Mercer Milling Co. Inc., Novus International Inc., Nutreco NV, Pancosma SA, Royal DSM NV, Tanke Biosciences Corp., Vamso Biotec Pvt. Ltd. and Zinpro Corp.