The Asia-Pacific animal feed additives market size witnessed significant growth in the past and is expected to grow at a CAGR of around 4.0% during the forecast period (2023-2030)
Animal feed additives improve health and performance by adding chemicals. Antioxidants, enzymes, flavors, sweeteners, and probiotics will be needed to make feed easier to digest. Meat, milk, and farming come from livestock. Demand for broilers, turkeys, beef, and pigs should boost the region's markets.
Increasing Meat Consumption
Due to shifting dietary habits, urbanization, and rising economic levels, poultry consumption has increased significantly in China, the largest nation in the Asia-Pacific area. Due to the increase in demand for chicken products, there are now more options for feed additives that improve poultry production's productivity and quality. The Food and Agriculture Organization (FAO) reports that the Asia-Pacific area consumes the most beef worldwide. Due to population expansion, urbanization, and shifting dietary choices, meat consumption in the area is anticipated to increase. This suggests rising demand for animal feed supplements that promote effective and environmentally friendly meat production.
Strict guidelines have been established in China to register and approve feed additives. The registration and management of feed additives are supervised by the Ministry of Agriculture and Rural Affairs (MARA), ensuring the products' efficacy, safety, and regulatory compliance. Comprehensive assessments, testing, and paperwork are all part of the approval process, which can take time and money. The rigorous evaluation procedures in China can cause the approval times for feed additives to be extended. The testing and evaluation periods and documentation needs may impact the waiting times for approvals. This long timescale may impede the commercialization of innovative feed additives and stifle innovation.
Expansion of the Aquaculture Industry
The shrimp farming sector has grown significantly in the Asia-Pacific area, particularly in Southeast Asian nations. Aquaculture's vital shrimp farming industry offers chances for producers of specialist feed additives to offer additives that improve shrimp health, growth, and productivity. The Food and Agriculture Organization (FAO) estimates that Asia produced more than 90% of the world's shrimp in 2020, with China, India, Indonesia, Thailand, and Vietnam among the major producers. Shrimp farmers have many opportunities to create feed additives that enhance feed effectiveness, disease resistance, and overall performance, thanks to the rising demand for shrimp.
The Asia-Pacific animal feed additives market is segmented based on type, form, distribution, and country.
The market is further segmented by Type into Feed sanitizers, Antibiotic, Amino Acids, Vitamins, Minerals, Mycotoxin Binders, Feed Acidifiers, Functional Feed additives (Enzymes, Probiotics, Antioxidants, Vitamins), and Others.
The functional Feed additives segment dominates the market and is expected to grow at a CAGR of 4.3% during the forecast period.
Probiotics dominate the market among the functional feed additives type and are expected to grow at a CAGR of 3.9% during the forecast period.
The market is further segmented by form into dry and liquid.
Dry dominated the market and is expected to register a CAGR of 3.5% over the forecast period.
The market is further segmented by distribution channel into Poultry, cattle, pork, and Aquaculture.
The pork segment dominates the market and is expected to grow at a CAGR of 4.2% during the forecast period.
The market is analyzed by country in China, India, Japan, Australia, Korea, and the Rest of Asia-Pacific. China dominated the market and is expected to grow at a CAGR of 4.3% during the forecast period.
The Asia-Pacific market for animal feed additives is expected to grow quickly. This is mostly because the number of animals raised in the area is growing. In the Asia-Pacific region, rapid urbanization, more people eating processed foods, and more people eating chicken and pig as protein sources are expected to increase demand for animal feed additives over the next few years. Animal feed ingredients help keep animals healthy and make them eat more feed, so the market for them is expected to grow quickly in the coming years.
Even though many farmers in countries like China and India are still small and on edge, the livestock business, especially in the Asia-Pacific region, is becoming more industrial. There is a growing need for high-quality chemicals in animal feed to ensure that meat is safe. The animal feed supplement market is also growing because farm owners are becoming more aware of how important it is to feed their animals well. Because of this, businesses are moving away from traditional animal feed additives in favor of high-quality and useful options that reduce the risk of metabolic problems, acidosis, injuries, and infections while also making animals more resistant to diseases that spread from animals to humans. The business also has a bright future because people in industrialized countries are buying more organic meat, new ways of raising animals, and high farming standards are being kept.
|Report Coverage||Revenue Forecast, Competitive Landscape, Growth Factors, Environment & Regulatory Landscape and Trends|
"Find new revenue generation opportunities"