Key Findings
The Asia-Pacific animal nutrition market is set to register a CAGR of 6.46% during the forecast period, 2021-2028. The increased adoption rate of micronutrient-based premixes by meat producers and farmers due to surging meat consumption fuels market growth.
Market Insights
South Korea, Japan, China, Australia & New Zealand, Vietnam, India, Thailand, Indonesia, and Rest of Asia-Pacific, are evaluated for the Asia-Pacific animal nutrition market growth. In Japan, as per stats, the per capita meat consumption increased significantly in 2019. Poultry is a staple product of the meat market, which is in demand for its low-fat content. In addition, there is an increasing trend of meat consumption, given the growing household income and expenditure as per the Ministry of Internal Affairs and Communications survey.
In South Korea, there is a steady demand for healthy diets, innovative tastes, and diversified choices. However, the country is dependent on imports to sustain the overall demand, with domestic production meeting around 45% of food and agriculture needs. Also, the rising poultry population is one of the primary drivers of market growth. For instance, as per the FAO stats, chicken production in the country increased to 1701.470 thousand in 2017 from 1492 thousand in 2010. Further, the compound cattle feed production reached over six million tons in 2020. Moreover, the total volume of animal feed reached almost 21 million tons. As a result, the growing livestock production offers ample growth opportunities.
Competitive Insights
Some of the eminent market players include Tata Chemicals Ltd, Royal DSM, Novozymes, Nutrien, SHV NV (Nutreco), etc.
Our report offerings include:
- Explore key findings of the overall market
- Strategic breakdown of market dynamics (Drivers, Restraints, Opportunities, Challenges)
- Market forecasts for a minimum of 9 years, along with 3 years of historical data for all segments, sub-segments, and regions
- Market Segmentation cater to a thorough assessment of key segments with their market estimations
- Geographical Analysis: Assessments of the mentioned regions and country-level segments with their market share
- Key analytics: Porter’s Five Forces Analysis, Vendor Landscape, Opportunity Matrix, Key Buying Criteria, etc.
- Competitive landscape is the theoretical explanation of the key companies based on factors, market share, etc.
- Company profiling: A detailed company overview, product/services offered, SCOT analysis, and recent strategic developments