Market Trends of Asia Pacific Silage Additives Industry
Increased Industrial Livestock Production
The demand for food derived from animals across the world has been increasing at a fast pace. The surge in this demand has been fulfilled by commercial livestock production and their associated food chains. In many developing countries like China, Japan, and India, livestock keeping has been a multifunctional activity. Growth in the demand for meat is expected to be driven by income and population growth, which has also led to the industrialization of livestock. According to the World Bank, industrialized meat production is growing 6 times faster than traditional meat production methods every year. With an increase in the mass production of meat, change is observed toward landless meat production facilities. The meat production industry is moving toward consolidation, especially in developing parts of the region, such as China and India, to increase meat production with reduced land usage. Hence the shift towards increased industrialized meat production in the region is driving the growth of the silage additives market.
Increasing Demand for High Value Animal Protein
The highest increase in meat consumption is expected from Asia-Pacific because of the changing diet patterns, urbanization, population, and economic growth. 20% of the human body is made up of protein. However, ingested protein is not stored and must constantly be replenished. Unlike the plant protein, the human body also needs animal protein like meat, egg and dairy products which are a high sources of protein. The level of income and consumption of animal protein are positively related. Therefore, rising incomes in developing nations and urbanization have led to a global surge in meat production. China is the leading meat consumer in the region, because of fast economic growth, changing food patterns, and increased meat production in the country. While the demand growth is seen as positive, end-user awareness and the conservative approach toward the feed sector is expected to remain a challenge for industry growth in Asia-Pacific. Countries like Vietnam and Thailand are estimated to be the fastest-growing consumer markets for meat-based products. India is the potential market, due to the increased intensive farming system.
