Market Trends of Asia-Pacific Feed Premix Industry
This section covers the major market trends shaping the APAC Feed Premix Market according to our research experts:
Increasing Demand for High Value Animal Protein
The rising demand for high-value meat and dairy protein from health-conscious consumers is driving the feed premix industry. Livestock production is one of the fastest-growing segments in the agriculture industry. The increasing demand for livestock products has been driving significant changes on the supply-side, aimed at improvements in livestock product yields. New capital-intensive technologies have raised the level of industrial production of cattle, poultry, and pig meat in production facilities across Asia-Pacific, especially in countries with land constraints. Moreover, the surging demand for environmentally safe and chemical-residue-free meat, meat products, milk & milk products, is emphasizing the need for increased productivity through feed premixes. Hence, these factors are further expected to drive the feed premixes market in Asia-Pacific, during the forecast period.
China Dominates the Market
China is one of the largest producers of feed premix in the world. However, owing to the African Swine Fever (ASF) outbreaks in China, the pig herds reduced significantly during 2018-19, thereby affecting the feed premix market adversely. Slow herd replenishment, especially in the swine fever affected regions are contributing to the near time shortfall and resulting in the shortfall of swine feed demand in the country. However, as per the China Feed Industry Association, the swine feed usage is likely to rebound by 5% in the year 2020, benefiting from the herd rebounding in the second half of the year. Thus, the outbreak of African Swine Fever is likely to act as a catalyst to foster the country's feed industry upgrades thereby accelerating the compound feed sales in the years to come.
