The market is the largest and one of the fastest growing sub-markets of the global compound feed market. With a growth rate of almost XX %, the Asia-Pacific market is expected to reach USD XX billion in 2022, from USD 163.8 billion as recorded in 2016. The total production in 2016 was 366.6 million tons, which is more than 1/3rd of the global production of compound feed.
Asia-Pacific Compound Feed Market: Regional Mapping
China is the largest compound feed producing country and produced about 187 million metric tons in 2016. Moreover, China has the largest number of feed mills, 8000 in number, worldwide. Asia-Pacific countries such as Vietnam, Japan, India and Pakistan witnessed an increase in feed production. Further, Vietnam’s feed production increased by 21%, as compared to the previous year. The country was noted on the list of top 15 feed producing nations for the first time, owing to the increased production of poultry and pig feed. Asia-Pacific region is one of the most expensive locations in the world to raise farm animals. Furthermore, the Japan compound feed is the most expensive in the world and the China compound feed prices are twice than the 10 topmost compound feed producing countries.
Asia-Pacific Compound Feed Market: Analysis by Animal Type
The growth was observed in the swine compound feed sector in the Asia-Pacific region, particularly in countries like Vietnam and Indonesia that are now listed among the top 10 swine feed manufacturing countries. Moreover, China represents over a quarter of the world’s swine compound feed production, however over the past 3 years, sow numbers have decreased by almost 40%. The dairy feed production remained flat, globally, but India recorded a growth of 14% in this segment and is the second largest producer in this sector. China witnessed a growth in, both, beef and pet food production in 2016, as compared to 2015. About three-quarters of the world’s fish feed is estimated to be consumed in the Asia-Pacific region. The aquaculture sector in India has been growing steadily at a rate of 6-7%, for the past two decades, and the ranked as the second largest producer of farmed fish in the world, after China. Further, with a production value of 15.8 million, China is the global leader in the fish feed production.
Notable Market Developments
- ‘Seafood Business Ocean Stewardship’, an initiative taken up by eight global seafood companies, is expected to clear out IUU fisheries and inhumane working conditions. Maruha Nichiro Corporation, Nippon Suisan Kaisha, Thai Union Group are some of the companies taking part in this initiative.
- According to a survey conducted by Biomin, the risk of mycotoxin detoxifiers in animal feed was the highest in the Asia-Pacific region.
Our report on Asia Pacific Compound Feed Market covers:
- Asia-Pacific compound feed market trends & dynamics
- Latest News & developments
- Porter’s five force analysis
- Deep-dive insights- SWOT, ANSOFF analysis
