Asia Pacific Animal Feed Market – Industry Trends and Forecast to 2029
Pune, Maharashtra, India, 6 September 2022 /EINPresswire.com/ – Latest market analysis report titled animal feed Market by Animal Type and Geography – Forecast and Analysis 2022-2029. The report expects the market to witness accelerated growth with a compound annual growth rate of 4.6%. Our report provides comprehensive information on the value chain analysis of the Animal Feed market, which sellers can take advantage of to gain a competitive advantage during the forecast period. The data available in the value chain analysis segment can help vendors to increase costs and improve customer services during the forecast period.
For more ideas on scope and value chain analysis, https://www.databridgemarketresearch.com/reports/asia-pacific-animal-feed-market
Top 5 players in the animal feed market
Archer Daniels Midland Company
The company offers high quality animal feed for all species, including beef, dairy, horses, pigs, pets, layers, broilers, rabbits and shrimp.
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 pig feed, chicken feed, duck feed, shrimp feed and fish feed.
Evonik Industries AG
The company provides animal feed for all species such as poultry, pigs and aquatic animals.
The company offers animal feeding solutions such as compound feed, small animal feed and specialty feed.
Animal feed is a nutritious food containing high levels of proteins, minerals and vitamins that is given to livestock, farms and aquatic animals. It is mainly consumed by domestic animals in the form of fodder, hay, forage, pellet feed, oil seeds, sprout grains, and fodder, among others. Animal feed is an important component of animal husbandry, and it varies depending on whether the animals are raised for meat, eggs or milk.
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Poultry: The growth of animal feed market share in the poultry segment will be significant during the forecast period. Poultry dominates the meat market worldwide because it is free from the religious implications usually associated with beef and pork. Important markets for poultry meat are the major emerging countries, such as China, Brazil and India, which have large populations. In addition, poultry comes under the category of white meat, which is considered healthy for consumption compared to red meat. These poultry health benefits will drive the growth of the animal feed market during the forecast period.
Asia Pacific: 47% of the market growth will come from the Asia Pacific region during the forecast period. China and India are the major markets for animal feed market in the Asia Pacific region. The market growth in this region will be faster than the market growth in other regions. Increased production of beef, veal and chicken will facilitate the growth of the animal feed market in the Asia Pacific region during the forecast period.
Middle East Airlines
Increasing investments and focus on expanding production capacities are one of the main factors supporting the growth of the animal feed market. Manufacturers focus on expanding their production capacities to meet the increasing demand for animal feed products worldwide. The increase in production capacity ensures that they are well positioned to meet the growing needs of customers across markets. In addition, the rise in global consumption of meat is one of the major trends in the animal feed market that fuels the growth of the animal feed market. The rise in population also leads to the global meat market and increases production capacity and supply. People are becoming more conscious about their protein intake in their daily diet, which has led to an increase in meat consumption. The majority of the global increase in meat production and consumption comes from the Asia Pacific and Middle East and Africa regions, which will positively impact market growth during the forecast period.
However, the high prices of non-GMO animal feed is one of the challenges hampering the growth of the animal feed market. Due to growing consumer expectations and demand for non-GMO feed, many sellers in Europe import non-GMO feed products from countries like Brazil and sell them at premium prices to end users. Many livestock keepers rely on genetically modified animal feed products due to their low cost and ease of availability. Small-scale livestock farmers with low profit margins do not prefer expensive non-GMO feeds. Such a shift in preference will limit the growth of the animal feed market during the forecast period.
Key Considerations for Market Outlook:
Impact of shutdowns, supply chain disruptions, demand destruction, and change in customer behavior
Optimistic, probable and pessimistic scenarios for all markets as the impact of the epidemic emerges
Market estimates before and after COVID-19
Quarterly impact analysis and updates on market estimates
The animals are cared for by ranchers who provide them with nutrient-rich food. Due to the valuable proteins, minerals and other nutrients that these therapeutic feed additives provide, they are essential for the development and growth of livestock animals. In the field of animal feed, feed additives are being used more and more to generate the best possible output.
Continuous research and development in animal feed is one of the main reasons likely to influence the increasing demand for animal feed additives. Farmers spend on animal feed additives to develop revenue potential while increasing consumer demand for high quality milk, meat, eggs and dairy products due to their nutritional advantages.
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