Market Trends of Asia-Pacific Feed Palatability Enhancers Industry
This section covers the major market trends shaping the APAC Feed Palatability Enhancers Market according to our research experts:
Increasing Meat Consumption Driving the Market
Consumer awareness about the meat quality and increasing consumption of meat has created the demand for quality feed. This rising protein-rich meat consumption makes the use of feed additives such as palatability enhancers inevitable to enhance the quality of the meat. According to the Organisation for Economic Co-operation and Development (OECD), in 2016, Chinese per capita poultry meat consumption was 11.6kg and it has seen a steady growth to reach 12.1Kg per capita consumption in 2019. Chinese pig meat consumption is declining due to the recent disease outbreak while poultry meat consumption is increasing. The pig meat consumption in 2019 declined to 29.3kg which was 30.4 kg in 2018. This will enhance the inclusion of feed additives which will, in turn, drive the market for palatability enhancers to increase the feed intake.
Increasing Feed Production
Growing consumption of meat and animal-sourced products has driven commercial livestock production. Significant enhancements in yields of animal products have been possible even with reducing or stagnant animal headcounts. For instance, in India, milk production increased to 83.6 metric tons in 2017 which was 78.1metric tons in 2016. while the cattle population reduced to 185.1 million in 2017 as against 186 million in 2016, according to FAO. The growing demand for livestock products has been driving significant changes on the supply side that are aimed at improving livestock product yields. According to Alltech Feed Survey, in 2018, India produced 38.7 million metric tons of feed as against 31.3 million metric tons in 2016. The unpleasant additives and supplements effects in livestock feed are masked with the help of palatability enhancers, thereby augmenting the feed intake in animals.
