Asia-Pacific Compound Feed Market

Description

The Asia-Pacific region is the largest and the fastest growing market of Compound feed. The 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. In 2016, the region accounted for more than one-third of the global compound feed production. Cereals and Soybean form the backbone of the compound feed industry. The abundance of these ingredients in the local markets has helped the industry to thrive in the region. Supplements and raw materials are grounded together to cater a variety of species. Bulk ingredients in the supplement segment include vitamins, minerals, amino acids, antibiotics and colourants of the industry.

Market Dynamics:

Population explosion, increasing demand for proteins worldwide and the prominent present of poultry and animal meat in the local cuisines are some of the factors responsible for the growth of the industry in the region. Increased street food culture, changing food habits and increased fiscal stability of the middle class has also shaped the meat and seafood industry, thus affecting the compound feeds segment. The Recent outbreak of avian influenza in Europe and the hygiene concerns about poultry products had reduced poultry consumption in Europe and restrained the export of poultry feed from the Asian Markets. However, growing innovation in technology, increasing government regulations on imported foodstuffs have made the outlook of the consumers positive. Increased trend of street food and fast food chains expanding exponentially have contributed significantly to the growth of poultry feed industry. Growing demand for a specific type of poultry meats- on the basis of texture and protein content has shaped the poultry feed industry. Rising demand for organic meat has also created a huge demand for the organic feeds segment.

Market Segmentation:

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. On the basis of Ingredients, the Cereals form the largest segment. The market is also divided further on the basis of additives like antioxidants, vitamins, minerals, amino acids and colorants. Antioxidants are the largest growing segment, amongst the additives.

Geographical Analysis:

Major producers of compound feed in the region are India, China, Japan, Vietnam, Indonesia and Australia. Different countries lead in the production of compound feed for different species. China has the largest market share globally in the compound feed for fishes. The Dairy compound feeds sector is expected to grow fastest in India. Technological advancements have place countries like Vietnam and Indonesia in the list of top 10 compound feed producing countries globally, which also include the U.S., Mexico, Brazil, Russia, India, China, Japan, France and Germany. Two-thirds of all the compound feed produced globally is produced by these ten countries.

Key Players

Some of the key players in the industry include Kyodo Shiryo Company (Japan), Wens Group (China), Zheng DA International Group (China), Weston Milling Animal Nutrition (Australia), New Hope Group (China) and Cargill Inc.(U.S.)