Asia Pacific Poultry Feed Market was worth $ 1.18 billion in 2021 and estimated to be growing at a CAGR of 7.92%, to reach $1.72 billion by 2026. This region in particular has seen an enormous increase in the Poultry Feed Market and this market is showing great potential in the forecast period. Poultry Feed is the food given to the farm animals mainly, chickens, turkeys, or any other animals which give meat. The objective of poultry feed is to make the farm animals healthier so that they can provide better meat or other products, like eggs.
For poultry feed to be healthy, it should contain lots of protein and carbohydrates, along with a sufficient amount of vitamins, minerals, and an adequate amount of water. With the increase in demand for meat and eggs, the market has also grown a lot. Hence, the research to make better poultry feed has increased and there have been many developments since the early 2000s. Critical relocation of feed demand from west to east in 2000s has benefitted this region the maximum in this market and is going to lead to increased outputs of formulated compound feeds.
Asia Pacific Poultry Feed Market Drivers:
With the increase in spending capabilities of people due to fastest growing per capita income , more urbanisation, mainly drivers moving to big cities, and population increasing at a huge rate, there has been a huge increase in demand of the animal protein, especially meat and eggs, hence triggering the increase in demand of poultry feed and additives. In addition, people’s increasing fondness of eating outside at fancy restaurants is also driving this market. There has also been an increase in poultry-related diseases in the recent past, so it is the factor that is concerning people and taking away from poultry products which affect the poultry feed market.
Feed acidifiers are leading the market among all other poultry additive segments in this region.
On the basis of geography, the Asia Pacific market is segmented into India, China, Japan, South Korea and Australia. With the shift in demand of poultry products from west to east, Asia-Pacific region is the fastest growing region by a huge margin with a CAGR of 7.92%, followed by Latin America with CAGR of 6.93%.
Some of the major companies dominating the market, by their products and services include CP Group (Thailand), Wen’s Food Group (China), Charoen Popkhand Foods (Thailand), East Hope Group (China) and New Hope Liuhe (China).