Market Trends of Asia-Pacific Feed Prebiotics Industry
This section covers the major market trends shaping the APAC Feed Prebiotics Market according to our research experts:
Increased Meat and Seafood Consumption
The Asia-Pacific region is the leading compound feed producing and consuming region in the world, thereby inflicting a direct impact on the feed prebiotics market. Demographic change in the Asia-Pacific is primarily characterized by proliferating middle-income households and rising levels of income, which have led to changes in dietary preferences of the population, thereby, resulting in an increased per capita consumption of meat and seafood. With greater awareness among the population regarding the importance of protein-rich diets, an increase in the consumption of animal protein sources is expected. According to the Food and Agricultural Organization's (FAO) data for the period of 2010-17, fish production in the region increased from 16.02 million tons in 2010 to 17.9 million tons in 2017. To date, the production, solely from aquaculture, has continued to increase at a steady rate of 5% since 2016. Therefore, livestock and aquaculture yields are expected to improve by way of adoption of better feed management practices and increased use of feed additives such as feed prebiotics in the region, thereby driving the market during the forecast period.
Inulin Dominates the Market of Feed Prebiotics
The inulin segment of the market accounted for a share of 38.5%, in 2019. Inulin has been proven to be beneficial to aquaculture and it is extensively used as an additive in the feed for carp, shrimp, and tilapia. Through the process of fermentation, inulin becomes healthy intestinal microflora, bifidobacterium. The raw material for inulin, chicory root, is also used as raw materials for other lucrative businesses, like the coffee industry. Of the total inulin production, nearly 20% is utilized by the animal feed industry. Human consumption is a competing market, due to the availability of inulin for the feed industry. Although the R&D expenditure on inulin has remained high, the extensive usage of inulin in animal feed, due to its multiple positive effects on animal nutrition, has led to the sustained growth of the inulin segment of the global feed prebiotics market in the Asia Pacific region.
