The Asia Pacific feed premix market was valued at US$ 4,448.96 million in 2022 and is expected to reach US$ 6,590.74 million by 2030; it is estimated to grow at a CAGR of 5.0% from 2022 to 2030.
Growing Demand for Feed Premix from Developing Countries Boosts Asia Pacific Feed Premix Market
According to the Alltech report 2022, layer feed production increased by 28% in the Philippines. Thus, the increasing meat consumption and the growing livestock industry in developing countries boost the demand for feed premixes. The main causes of the rising demand for feed premixes in developing countries have been population growth, urbanization, and a rise in wages in developing countries. According to the Feed Industry Federation (FIF), compound feed production has reached 1000 million tons annually. This growth in production rate is particularly higher in developing countries than developed countries. Modernizing livestock farms in developing regions to meet the growing demand for animal protein aids the Asia Pacific feed premix market. Thus, the rising demand for feed premixes from developing countries is expected to provide a huge opportunity for the market growth.
Asia Pacific Feed Premix Market Overview
The Asia Pacific feed premix market is expected to grow during the forecast period due to the rising animal feed production and the growing livestock industry. Asia Pacific is the largest producer of animal feed globally. According to Alltech Global, the region produced over 305 million metric tons of animal feed in 2020. Further, the region houses a few major animal stocks farming countries, accelerating the demand for animal feed ingredients such as feed premixes in the region. The region has witnessed increasing feed mills and feed production, particularly in Japan and India. India houses the largest livestock population. Thus, there is huge opportunity for feed premix in India market. Moreover, Asia Pacific accounts for the largest human population among all five regions and contains ~60% of the global population. Hence, the region is witnessing strong demand for meat and dairy products, boosting the requirement for livestock production and subsequently favoring the demand for animal feed. The mass consumption of animal feed in the region and growing practices of feeding nutritious feed to livestock drive the Asia Pacific feed premix market in the region. The manufacturers are making significant investments to cater to the increasing demand in the region. For instance, in May 2021, ADM, a global leader in animal nutrition, announced the launch of its premix and nutrition services with Wisium in China. The Wisium portfolio offers manufacturers access to innovative value-added nutrition programs for all livestock species and a strong international network of experts.
Asia Pacific Feed Premix Market Revenue and Forecast to 2030 (US$ Million)
Asia Pacific Feed Premix Market Segmentation
The Asia Pacific feed premix market is segmented based on type, form, livestock, and country.
Based on type, the Asia Pacific feed premix market is segmented into vitamins, minerals, amino acids, antibiotics, antioxidants, blends, and others. The blends segment held the largest share in 2022.
By form, the Asia Pacific feed premix market is bifurcated into dry and liquid. The dry segment held a larger share in 2022.
By livestock, the Asia Pacific feed premix market is categorized into research poultry, ruminants, swine, aquaculture, and others. The poultry segment held the largest share in 2022.
Based on country, the Asia Pacific feed premix market is segmented into China, Japan, India, Australia, South Korea, Philippines, Taiwan, Pakistan, Bangladesh, Kazakhstan, and the Rest of Asia Pacific. China dominated the Asia Pacific feed premix market in 2022.
Agrifirm Group BV, Archer-Daniels-Midland Co, Cargill Inc, De Heus Voeders BV, Kemin Industries Inc, Koninklijke DSM NV, and Nutreco NV are some of the leading companies operating in the Asia Pacific feed premix market.
| Report Attribute | Details |
|---|---|
| Market size in 2022 | US$ 4,448.96 Million |
| Market Size by 2030 | US$ 6,590.74 Million |
| CAGR (2022 - 2030) | 5.0% |
| Historical Data | 2020-2021 |
| Forecast period | 2023-2030 |
| Segments Covered |
By Type
|
| Regions and Countries Covered |
Asia-Pacific
|
| Market leaders and key company profiles |
|
1. Agrifirm Group BV
2. Archer-Daniels-Midland Co
3. Cargill Inc
4. De Heus Voeders BV
5. Kemin Industries Inc
6. Koninklijke DSM NV
7. Nutreco NV
The Asia Pacific Feed Premix Market is valued at US$ 4,448.96 Million in 2022, it is projected to reach US$ 6,590.74 Million by 2030.
As per our report Asia Pacific Feed Premix Market, the market size is valued at US$ 4,448.96 Million in 2022, projecting it to reach US$ 6,590.74 Million by 2030. This translates to a CAGR of approximately 5.0% during the forecast period.
The Asia Pacific Feed Premix Market report typically cover these key segments-
The historic period, base year, and forecast period can vary slightly depending on the specific market research report. However, for the Asia Pacific Feed Premix Market report:
The Asia Pacific Feed Premix Market is populated by several key players, each contributing to its growth and innovation. Some of the major players include:
The Asia Pacific Feed Premix Market report is valuable for diverse stakeholders, including:
Essentially, anyone involved in or considering involvement in the Asia Pacific Feed Premix Market value chain can benefit from the information contained in a comprehensive market report.
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