Thailand Compound Feed Market - Growth, Trends and Forecasts (2020 - 2025)

The Thailand Compound Feed Market is segmented by Animal Type (Ruminants, Poultry, Swine, Aquaculture, and Others), By Ingredients (Cereal, Cakes & Meals, By-Products, and Supplements).

Market Snapshot

Study Period:

2016-2025

Base Year:

2019

CAGR:

4.2 %

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Market Overview

The Thailand compound feed market is projected to register a CAGR of 4.2% during the forecast period (2020-2025). Increasing consumer preference for animal-sourced foods is the major factor responsible for high growth. Demographic expansion and technological advancements have meant changes in the traditional roles of livestock and have led to accelerated consumption of livestock and related products. According to the Alltech feed survey, in the year 2019, the country’s commercial feed production stood at 20.2 million metric tons. Poultry is the largest contributor to domestic feed production garnering around 11.4 million metric tons in the same year. Charoen Pokphand Food PCL, Cargill, Incorporated, Altech Inc. and Archer Daniels Midland are some of the major companies in the studied market.

Scope of the report

Compound feed is a mixture of raw materials and supplements fed to the livestock, sourced from either plant, animal, organic or inorganic substances, or industrial processing, whether or not containing additives. While soybean, corn, barley, wheat, and sorghum are the most commonly used raw materials, vitamins, minerals, and amino acids are the most common additives blended to form compound feed.

Animal Type
Ruminants
Poultry
Swine
Aquaculture
Other Animal Types
Ingredient
Cereals
Cakes & Meals
By-products
Supplements

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Key Market Trends

Growing Inclination Towards Animal Sourced Products

The per capita consumption of red meat and poultry products around the world has increased rapidly, as it is actively considered as an important source of nutrition/protein by the consumers under different demographics, thus, resulting in increased production of meat products. According to a survey conducted by the Organisation for Economic Co-operation and Development (OECD), in 2019 per capita, pork meat consumption was 10 Kg which was 10.1Kg in 2016. Also, in 2019 per capita, poultry meat consumption was 8 Kg.​ In response to globalization and the rising demand for animal-sourced foods, the global livestock sector attained a strong growth in the past couple of years. In January 2020, the Thailand government has allocated a budget of USD 5.03 million under the Free Trade Agreement Fund for the Department of Livestock Development to help the beef cattle farmers increase their product quality and compete globally. This is boosting the growth of compound feed to the production of quality products.

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Industrialization of Livestock Sector

Growing meat consumption has led to the commercial production of livestock in the country. According to FAO, in 2016 cattle and buffaloes population was 5.66 million heads which increased to 5.91 million heads in 2018. The rising demand for animal products and commercial animal production has created an opportunity for feed manufacturers to enhance animal productivity. Thailand government has sanctioned a loan of USD 1.61 million to the Dairy Farming Promotion Organization of Thailand (DPO) from the agricultural products’ restructuring fund in 2019 to establish the Thai-Denmark Smart Dairy Farm and increase production capacity to compete with other countries. This, in turn, has paved a significant opportunity for the manufacturers to use compound feed, to optimize their livestock production sustainably and meet the burgeoning demand from both the meat and dairy industries. ​

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Competitive Landscape

Some of the players have been expanding their geographical presence by acquiring or merging with the manufacturers in the foreign market. The leading companies focused on the expansion of the business across regions and setting up a new plant for increasing production capacity as well as a product line. The companies are also increasing production capacities of their existing plants. Charoen Pokphand Food PCL, Cargill, Incorporated, Altech Inc. and Archer Daniels Midland are some of the major companies in the studied market.

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Table Of Contents

  1. 1. INTRODUCTION

    1. 1.1 Study Assumptions & Market definition

    2. 1.2 Scope of the Study

  2. 2. RESEARCH METHODOLOGY

  3. 3. EXECUTIVE SUMMARY

  4. 4. MARKET DYNAMICS

    1. 4.1 Market Overview

    2. 4.2 Market Drivers

    3. 4.3 Market Restraints

    4. 4.4 Porter's Five Force Analysis

      1. 4.4.1 Bargaining Power of Suppliers

      2. 4.4.2 Bargaining Power of Buyers/Consumers

      3. 4.4.3 Threat of New Entrants

      4. 4.4.4 Threat of Substitute Products

      5. 4.4.5 Intensity of Competitive Rivalry

  5. 5. MARKET SEGMENTATION

    1. 5.1 Animal Type

      1. 5.1.1 Ruminants

      2. 5.1.2 Poultry

      3. 5.1.3 Swine

      4. 5.1.4 Aquaculture

      5. 5.1.5 Other Animal Types

    2. 5.2 Ingredient

      1. 5.2.1 Cereals

      2. 5.2.2 Cakes & Meals

      3. 5.2.3 By-products

      4. 5.2.4 Supplements

  6. 6. COMPETITIVE LANDSCAPE

    1. 6.1 Most Adopted Competitor Strategies

    2. 6.2 Market Share Analysis

    3. 6.3 Company Profiles

      1. 6.3.1 Charoen Pokphand Foods PCL

      2. 6.3.2 Cargill Inc.

      3. 6.3.3 Alltech Inc.

      4. 6.3.4 Land O Lakes Purina

      5. 6.3.5 Archer Daniels Midland

      6. 6.3.6 New Hope Group

      7. 6.3.7 Kyodo Shiryo Company

      8. 6.3.8 Wens Group

      9. 6.3.9 DeKalb Feeds

      10. 6.3.10 Kent Feeds

      11. 6.3.11 Nutreco NV

  7. 7. MARKET OPPORTUNITIES AND FUTURE TRENDS

  8. 8. IMPACT OF COVID-19

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