Asia-Pacific Compound Feed Market was worth $213.42billion in 2021 and estimated to be growing at a CAGR of 1.8%, to reach $233.34 billion by 2026.
The Asia-Pacific Compound Feed market is developing at a significant rate due to the increase in the livestock population.Compound feed is a combination of raw materials and supplements, obtained from either plants or animals, supplied to the livestock orally. Most frequently used raw materials are soybean, corn, barley; wheat and sorghum. Regular additives which are used to form compound feed are, minerals, amino acids, antibiotics and colorants. Compound feed has become a vital part of the universally increasing livestock industry and meat production industry. The end customers of the compound feed are poultry, pig, ruminants, fish etc. Livestock producers in the Asia Pacific region are identifying new ways to stimulate production and deliver the same benefits provided by antibiotic growth promoters at an affordable price.
The growth of the Asia-Pacific Compound feed market is mainly driven by reasons such as the rise in the global meat consumption, rise in the mass production of meat, and recent livestock disease outbreaks. Increasing population in this part of the world is also supporting the growth of the Asia-Pacific meat market, ultimately increasing demand for compound feed. Volatile economies and growing cost of operations are the major restrictive factors for the Asia-Pacific market. And an up surge in the cost of raw materials is also a key challenge for the companies in the market.
The Asia-Pacific Compound Feed Market is segmented and sub-segmented into the following categories:
Poultry, pork, and cattle are the largest consumers of compound feed in this region accounting for the major share of the overall compound feed market. Cereals are the most widely used ingredients in compound feed whereas Vitamins are the most widely used additives, accounting for around 25% of the total feed additives market.
The Market is Geographically divided into:
This region offers substantial opportunities for the Compound feed market, with China and India being the most populous countries in this region contributing to the increasing demand. The Asia-Pacific region is expected to offer profitable growth prospects, owing to the substantial increase in feed production and growing awareness among the consumers about the quality of meat products and due to the rise in disposable incomes in developing economies, primarily in China and India. China is the major compound feed manufacturer in the world and accounts for around half the production of compound feed in Asia-Pacific region. Asia-Pacific region is the largest consumer of aqua feed and is also the largest consumer of molasses accounting for the major part of the global molasses consumption.
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