Animal Feed Additives Market is Estimated to Progress at a CAGR of 4.6% during the Forecast till 2029
Asia-Pacific Animal Feed Market – Industry Trends and Forecast to 2029
PUNE, MAHARASHTRA, INDIA, September 6, 2022 /EINPresswire.com/ -- The latest market analysis report titled Animal Feed Market by Animal Type and Geography - Forecast and Analysis 2022-2029. The report predicts the market to witness an accelerating growth momentum at a CAGR of 4.6%. Our report provides extensive information on the value chain analysis for the animal feed market, which vendors can leverage to gain a competitive advantage during the forecast period. The data available in our value chain analysis segment can help vendors drive costs and enhance customer services during the forecast period.
For more insights on the scope and value chain analysis, https://www.databridgemarketresearch.com/reports/asia-pacific-animal-feed-market
Top 5 Animal Feed Market Players
Archer Daniels Midland Co.
The company offers high-quality animal feed for all species, including beef, dairy, equine, swine, pets, layers, broilers, rabbits, and shrimp.
Cargill Inc.
The company offers high-quality animal feed, through its brands such as Diamond V, EWOS, Nutrena, and Purina.
Charoen Pokphand Foods PCL
The company offers animal feed products such as swine feeds, chicken feeds, duck feeds, shrimp feeds, and fish feed.
Evonik Industries AG
The company offers animal feed for all species, such as poultry, swine, and aquatic animals.
ForFarmers NV
The company offers animal feed solutions such as compound feed, young animal feed, and specialised feed.
Animal feed is a nutritious food with high levels of proteins, minerals, and vitamins that is given to livestock, farm, and aquatic animals. It is primarily consumed by domestic animals in the form of fodder, hay, silage, pelleted feeds, oilseeds, sprouted grains, and forage, among other things. Animal feed is an important component of animal rearing, and it varies depending on whether the animals are raised for meat, eggs, or milk.
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Animal Feed Market Segmentation Highlights
Animal Type
Poultry: The animal feed market share growth in the poultry segment will be significant during the forecast period. Poultry dominates the meat market worldwide as it is free from the religious implications that are normally associated with beef and pork. The important markets for poultry meat are the key emerging countries, such as China, Brazil, and India, that have a high population. In addition, poultry comes under the white meat category, which is considered healthier for consumption compared with red meat. Such health benefits of poultry will drive the animal feed market growth during the forecast period.
Swine
Ruminant
Aquaculture
Others
Geography
APAC: 47% of the market's growth will originate from APAC during the forecast period. China and India are the key markets for the animal feed market in APAC. Market growth in this region will be faster than the growth of the market in other regions. The increasing production of beef, veal, and chicken meat will facilitate the animal feed market growth in APAC over the forecast period.
Europe
North America
South America
MEA
The increasing investments and focus on expanding production capabilities is one of the key drivers supporting the animal feed market growth. Manufacturers focus on expanding their production capabilities to cater to the growing demand for animal feed products worldwide. The increase in production capacity ensures that they are well-positioned to cater to customers growing needs across markets. In addition, the rise in global meat consumption is one of the key animal feed market trends fueling the animal feed market growth. The rise in the population also drives the global meat market and increases the production capacity and supply. People have become more conscious about their protein intake in their daily diet, which has led to an increase in the consumption of meat. The majority of the global rise in meat production and consumption is from APAC and MEA, further, influencing the market growth positively during the forecast period.
However, the high price of non-GMO animal feed is one of the challenges hindering the animal feed market growth. Due to the increasing consumer expectations and demand for non-GMO feed, several vendors in Europe import non-GMO feed products from countries such as Brazil and sell them at premium prices to end-users. Many livestock farmers depend on GMO animal feed products owing to their low cost and easy availability. Small livestock farmers with low-profit margins do not prefer high-priced non-GMO feed. Such a shift in preference will limit the animal feed market growth during the forecast period.
Key Considerations for Market Forecast:
Impact of lockdowns, supply chain disruptions, demand destruction, and change in customer behavior
Optimistic, probable, and pessimistic scenarios for all markets as the impact of the pandemic unfolds
Pre- as well as post-COVID-19 market estimates
Quarterly impact analysis and updates on market estimates
Global Animal Feed Market: Growth Drivers
Animals are cared for by livestock farmers who provide them with a food that is high in nutrients. Due to the valuable proteins, minerals, and other nutrients these medicated feed additives provide, they are crucial for the development and growth of livestock animals. In the animal feed business, feed additives are being used more and more to generate the best output possible.
The continuous R&D in animal nutrition is one of the key reasons likely to influence the rising demand for animal feed additives. Farmers are spending on animal feed additives to develop revenue possibilities as consumer demand for high-quality milk, meat, eggs, and milk-based products increases due to their nutritional advantages.
Click to view the full report Table of Contents @ https://www.databridgemarketresearch.com/toc/?dbmr=asia-pacific-animal-feed-market
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