Market Size of Thailand Compound Feed Industry
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| Market Size (2024) | USD 10.25 Billion |
| Market Size (2029) | USD 12.78 Billion |
| CAGR (2024 - 2029) | 4.50 % |
| Market Concentration | Medium |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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Thailand Animal Feed Market Analysis
The Thailand Compound Feed Market size is estimated at USD 10.25 billion in 2024, and is expected to reach USD 12.78 billion by 2029, growing at a CAGR of 4.5% during the forecast period (2024-2029).
- Animal-based agriculture has been witnessing robust demand for compound feed owing to an increase in animal-based food product consumption all over the world. The change in customer dietary habits toward the quality of dairy products and meat is expected to contribute to the growth of the market studied during the next five years. This supports increased industrialized animal husbandry, contributing to the growth in the Thailand compound feed market.
- The Thai Feed Mill Association plays a role in centralizing animal feed manufacturers in the country and communicating key information to domestic and international members. 70% of the Thai meat produced is used for local consumption and 30% is exported. The major producers and exporters of chicken products are Saha Farms, Charoen Pokphand Foods, and Betagro. In pigs and pork, Charoen Pokphand Foods, Betagro, Kanchana Fresh, Laemthong Group, Mittraphap Group, Freshmeat Food, and Belucky are the main players. All these companies operate integrated livestock and meat product production facilities.
- In January 2020, the Thai government allocated a budget of USD 5.03 million under the Free Trade Agreement Fund for the Department of Livestock Development, to help cattle farmers increase their product quality and compete globally. This is boosting the usage of compound feed in the production of quality products.
