Market Research Report
China Feed Additives Market - Growth, Trends and Forecasts (2020 - 2025)
|Published by||Mordor Intelligence LLP||Product code||392154|
|Published||Content info||120 Pages
Delivery time: 2-3 business days
|China Feed Additives Market - Growth, Trends and Forecasts (2020 - 2025)|
|Published: June 1, 2020||Content info: 120 Pages||
The feed additives market in China is projected to register a CAGR of 5.9%, during the forecast period. Feed additives are essential for animal nutrition, as they improve the quality of feed, and thereby improve animals' performance and health. They also subsequently improve the yield and quality of food from animal origin. The industrialization of the livestock and meat sector is an important factor driving the demand for the market. The Chinese animal feed additive industry, currently, is heavily influenced by governmental initiatives. The country's efforts to modernize and find efficiencies in its structure and practices and the increasing demand for meat and animal products to meet the protein needs of the growing population are among the major factors driving the growth of the animal feed additives market.
Changing Demographics and Food Habits among Consumers
While considering a business-as-usual (BAU) scenario, the total meat and fish consumption in Asia-Pacific is projected to rise by 73%, by 2050, according to a report published by Asia Research & Engagement (ARE) and sponsored by ADM Capital. Rapid Urbanization and increased disposable income have brought in changes among the dietary preferences of the population, which has led to increased per capita consumption of meat and seafood. However, the Food and Agricultural Organization's (FAO) report on "Mapping Supply and Demand for Animal Produce to 2030" pegs growth in some countries like China at more than 300%. With greater awareness among the population regarding the importance of protein-rich diets, an increase in the consumption of animal protein sources is anticipated. This is expected to fuel the growth of feed additives market through its usage in compound feed in the industry. Population increase is another driving factor for the overall consumption of meat and seafood. Moreover, most of the largely populated countries, such as China, are not expected to be stable in population growth until 2030.
Increasing Compound Feed Production
With the increasing per capita income and growing population level, the demand for food crops and cash crops is also estimated to increase, along with an increase in food from animal origin, including meat, fish, milk, and eggs. According to sources studied, China is one of the top seven countries where the compound feed is produced. The animal feed additives market, including the imports, is highly regulated in China, with the presence of the Ministry of Agriculture and the General Administration of Quality Supervision, Inspection, and Quarantine of the People's Republic of China (AQSIQ). In 2018, AQSIQ made changes to the import policy of feed and feed additives, with feed additives and additive premix been targeted by a separated list. This has led to higher production of compound feed, which is, in turn, driving the market for feed additives in these regions. Thus, higher production of compound feed is anticipated to provide a ready market for feed additives in the near future.
The feed additives market is highly concentrated, with the top ten companies accounting for the majority of the market share. The leading players in the market studied are focused on business expansion. They are targeting countries in Asia-Pacific like China for business expansion, by either investing in new production units or acquiring established small players in the region.