Asia Pacific Poultry Feed Market - Growth, Trends, and Forecast (2018 - 2023)
The Asia Pacific poultry feed market is expected to reach around USD 2 Billion at the end of the forecasted period, 2023. With the rise in the income level in Asian region, the market is expected to boom in the near future.
The market is a very important part of the vast animal feed industry as poultry, unlike beef and pork, has limited impact on religious preferences particularly India. Modern feed for poultry consists largely of grain, protein supplements, mineral supplements, and vitamin supplements. The type of poultry feed required depends on the weight and age of the poultry, their rate of growth, rate of egg production, and the weather. This results in a wide variety of feed formulations and processes.
The Rising Income Levels
With the rise in income, the spending capabilities of people and the per capita income have increased. With urbanization, mainly rural people are moving to big cities, and the population is growing at a huge rate, therefore there has been a massive increase in the intake of the animal protein, especially poultry meat and eggs, hence triggering the rise in demand of poultry feed and additives. There has also been an increase in the poultry related diseases in the recent past e.g. bird flu (H5N1), becoming the factor affecting people and taking away market for poultry products, which affects the poultry feed market. With the cases of bird flu increasing in Asian countries particularly India and China, there’s a rapid requirement of improving the birds feed in the poultry farm, so as to reduce the effect.
Asia-Pacific is one the largest market, followed by North America. Increased consumption of meat and egg, buoyed by growing middle-class income in emerging economies, like China and India, widespread poultry diseases are the major driving factors of the poultry feed market in the region. Also, demand for quality chicken products by consumers has significantly contributed to the rising demand for poultry feed.
To gain market share, the poultry manufacturers are adopting numerous market strategies like innovative product development, partnerships, mergers & acquisitions, and expansion of existing facilities. The Indian government is giving subsidies and organizing various summits to poultry manufacturers so as to encourage them to set up their industries and improve in the development of Indian Poultry industry.
March 2018: Amlan, leader in poultry intestinal health products, to launch in-feed antibiotic alternatives at Asia-Pacific Poultry Conference
Major Players: BALANCE AGRI-NUTRIENTS, CHAROEN POKPHAND, NEW HOPE GROUP, WEN’S GROUP, KYODO SHIRYO COMPANY, amongst others.
Reasons to Purchase This Report
Provides latest insights into the Asia Pacific poultry feed market
Gives a detailed analysis of key competitors in the Asia Pacific poultry feed market
Analyzing various perspectives of the market with the help of Porter’s five forces analysis
Detailed analysis on the region that is expected to witness the highest growth
Identify the latest developments, market shares, and strategies employed by the major market players
3-month analyst support, along with the Market Estimate Sheet (in Excel)
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