Market Trends of asia-pacific feed enzymes 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 and accounting for 42.4% of global poultry production in 2022. This increase in poultry consumption is driven by the rising popularity of poultry, rapid urbanization, and the growing disposable incomes in developing countries, such as India and Vietnam, which recorded a 37.3% increase in poultry population in 2021 compared to 2017.
- In 2021, China, Indonesia, and India held a significant share of the poultry market in the region, with market shares of 39.7%, 25.3%, and 5.7%, respectively. This growing demand for poultry products can be attributed to the increasing demand for eggs and meat and government schemes supporting the poultry industry. For instance, the Department of Animal Husbandry & Dairy in India is introducing capital fund schemes to support poultry businesses and educate farmers on how to improve their yield quality, which may further boost the market's growth.
- China is the largest producer of eggs in the world, with consumption and production accounting for over 40% of global production. With over 900 million stock-laying hens and the country's largest layer poultry farming center hatching 60 million chicks per year, the country's layer farming is recording significant growth.
- Broiler production in the region is also 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 compared to 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. This growth in poultry production may boost the 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 production market, with fish and shrimp being the primary products. In 2021, the region produced 37.6 million metric ton of aquaculture feed, which accounted for 8.7% of the region's total feed production. Several countries in the region are focusing on expanding and intensifying their aquaculture production through technological advancements and increased use of feed to meet the growing demand.
- For instance, India increased its budget allocation to the Department of Fisheries to boost production. Fish holds a significant share of aquaculture feed, accounting for 31.1 million metric ton in 2022, an increase of 66% compared to 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. It is expected to increase rapidly during the forecast period as some Asia-Pacific countries are implementing a self-sufficient aquaculture system through several government initiatives to increase the production of certified sustainable seafood.
- China dominated the aquafeed market in the Asia-Pacific region, accounting for 51.2% of the market 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, with an annual capacity of 240,000 ton. Factors such as increasing aquaculture production, expanding aqua farming, and rising feed consumption are expected to drive the growth of 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
