Market Trends of asia-pacific feed additives Industry
The growing disposable income in developing countries of Asia-Pacific and government support schemes for poultry industry, and China is largest producer of eggs are helping in growth of poultry population in the region
- The Asia-Pacific region dominates the global agricultural sector, with poultry being the largest segment. The Asia-Pacific region accounted for 42.4% of global poultry production in 2022. The high share percentage was driven by a rise in population, rapid urbanization, and increasing disposable incomes in developing countries, such as India and Vietnam, which recorded a 37.3% increase in poultry population in 2021 from 2017.
- In 2021, China, Indonesia, and India held a significant share of the poultry market in the region, with 39.7%, 25.3%, and 5.7%, respectively. The increase in the demand for poultry products can be attributed to the increase in demand for eggs and meat and government schemes that support the poultry industry. The Department of Animal Husbandry & Dairy in India introduced capital fund schemes to support poultry businesses, educating farmers on how to improve their yield quality.
- China is the largest producer of eggs in the world, accounting for over 40% of global production. With over 900 million stock-laying hens and the largest layer poultry farming center hatching 60 million chicks annually, layer farming in the country has recorded significant growth.
- Broiler production in the region is rapidly growing due to the increased consumer demand for chicken meat. The Philippines, for instance, recorded a 2.2% increase in chicken meat production in 2021 from 2017. The region's poultry production is expected to increase further, driven by a shift in consumer preferences toward poultry meat and the rapid development of the poultry industry, which would lead to an increase in demand for feed additives.
Understand The Key Trends Shaping This Market
Download Sample
Improvement in fish farming technologies, expansion in number of feed mills and Indian government initiatives are helping in increasing the aquaculture feed production
- The Asia-Pacific region is a major player in the global aquaculture feed market, with fish and shrimp being the primary consumers. In 2021, the region produced 37.6 million metric tons of aquaculture feed, which accounted for 8.7% of the region's total aquaculture feed production. Several countries in the region are focusing on expanding and intensifying their aquaculture production through technological advancements and increasing the use of feed to meet the growing demand.
- India increased its budget allocation for the Department of Fisheries to boost production. Fish holds a significant share of the market for aquaculture feed, with production amounting to 31.1 million metric tons in 2022, increasing by 66% from 2017. This growth was due to the conversion of agricultural land to aquaculture ponds, the improvement of fish farming technologies, and the intensification of production.
- Shrimp feed production accounted for 4.2% of the aquafeed production in the region in 2022, and it is expected to increase rapidly during the forecast period. The growth is attributed to the implementation of a self-sufficient aquaculture system by some countries in the region through several government initiatives to increase the production of certified sustainable seafood.
- China dominates the aquafeed market in the Asia-Pacific region, accounting for a 51.2% share in 2022 due to an increase in the number of feed mills with higher capacities. For instance, AB Agri opened its ninth feed mill in China, a plant with an annual capacity of 240,000 tons. Factors such as an increase in aquaculture production, expansion of aquaculture farming, and rise in feed consumption are expected to increase aquafeed production in the region during the forecast period.
Understand The Key Trends Shaping This Market
Download Sample
OTHER KEY INDUSTRY TRENDS COVERED IN THE REPORT
- China has the largest sheep and goats in the region and Asia-Pacific region's ruminants population is growing owing to high profit margins in beef business and surge in demand for milk products
- The high demand for broiler feed, increase in Indonesia's poultry bird population and recovery from avian influenza are increasing the demand for poultry feed production
- Increase in large scale farms in China by 16,000, and introduction of new animal-rearing practices are increasing the swine feed production in the region
- Asia-Pacific is the leading producer of pork meat and changes in food consumption pattern of people with high consumption in South Korea and China are the factors driving the increase in the swine population
- High number of dairy cattle producers, demand for increasing milk yield and government schemes are increasing the demand for nutrient rich ruminant feed
