Market Research Report
Asia Pacific Feed Additives Market Forecast 2021-2028
|Published by||Inkwood Research||Product code||991388|
|Published||Content info||221 Pages
Delivery time: 2-3 business days
|Asia Pacific Feed Additives Market Forecast 2021-2028|
|Published: March 1, 2021||Content info: 221 Pages||
The Asia-Pacific feed additives market is anticipated to grow at a CAGR of 5.82% in terms of revenue and 5.51% in terms of volume during the forecast period, 2021-2028. The increasing culture of intensive farming systems and the growing number of local feed manufacturers are driving the market growth.
Japan, China, Vietnam, India, Australia & New Zealand, Thailand, South Korea, Indonesia, and Rest of Asia-Pacific, are evaluated for the Asia-Pacific feed additives market growth analysis. In India, end-product quality, supply chain efficiencies, and livestock farming and feeding practices, are key market growth drivers. The raw material prices majorly influence the compound feed prices. Also, the demand for processed feed is set to increase to improve animal productivity, so as to meet the rising demand for milk. Moreover, companies are increasing their R&D investment to sustain the increasing demand for animal protein in the country. Such factors are estimated to boost market growth.
In Indonesia, the COVID-19 impact is visible in the export forecasts of the beef and chicken meat trade. It has also hampered the animal protein demand, along with the widespread closure of food & beverage establishments. However, the surging fish consumption is driven by thriving domestic fish production. Fish is an essential source of protein in the country. The increased per-person consumption is indicated by small increases in income over time. Such aspects are set to drive market growth in Indonesia.
Some of the eminent companies in the market are Alphios Belgium SA, Elanco Animal Health, Phibro Animal Health Corp, Sumimoto Corporation, Bluestar Adisseo Co Ltd, Evonik Industries, etc.