Market Trends of Asia-Pacific Ruminant Feed Premix Industry
This section covers the major market trends shaping the APAC Ruminant Feed Premix Market according to our research experts:
Rising Demand for Animal Protein
The demand for the Ruminant feed premix market is majorly driven by the rising demands for high-value meat and dairy protein. With a rising population in the Asia Pacific region and increasing awareness among the people regarding health benefits of consuming protein sources, is creating a heavy demand for meat consumption. According to the Food and Agriculture Organization Corporate Statistical Database, the consumption of ruminant meat has shown a constant growth from the year 2016. The ruminant meat consumption has shown an increase of 3.5%, by 2018, over 2016. 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
The Asia-Pacific region will remain the fastest-growing market during the forecast period, with the growing demand for ruminant feed premix in China. With the consistent growth in the animal husbandry industry, farmers are moving towards the industrialized production of animals from systematic production. However, the farmers are also dependent on home-grown feed, especially for ruminants. With an increase in awareness about providing required nutrients to animals for increasing productivity as well as animal health, the demand for premixes is boosting in these traditional markets. With an increasing demand for animal proteins in the country, the demand for the Ruminant feed premix market is expected to show positive growth during the forecast period.
