Thailand Compound Feed Market Size (2024 - 2029)

Thailand Compound Feed Market Analysis

The Thailand Compound Feed Market size is estimated at USD 10.25 billion in 2024, and is expected to reach USD 12.78 billion by 2029, growing at a CAGR of 4.5% during the forecast period (2024-2029).

• The Thai animal feed industry is one of the largest in Southeast Asia. The industry caters not only to traditional livestock segments like poultry and swine but also to emerging segments such as aquaculture. The country is a major producer of shrimp and other aquaculture products, driving significant demand for specialized aquafeed. In addition to this, the nation witnessed a rise in animal-based food consumption, driven by factors like increasing incomes, urbanization, and evolving dietary habits. For instance, according to a survey conducted by the Madre Brava organization in Thailand, 76% of the respondents ate meat. The demand for meat, eggs, and dairy has been growing with rising incomes, urbanization, and changing dietary preferences. These developments are expected to contribute to the growth of the market studied during the next five years.
• Along with this, government support is bolstering animal production, propelling market growth. In February 2024, the Thai Cabinet allocated approximately THB 1 billion (USD 28 million) to enhance the nation's agriculture industry by bolstering animal feed collection and value addition. Such initiatives not only ensure ample animal feed for the expanding livestock production but also support market growth. Similarly, this supports industrialized animal husbandry, contributing to growth in the Thai animal feed market.
• Furthermore, feed manufacturers in Thailand have adopted the expansion of their production capacities to benefit the domestic market. In 2022, Cargill acquired a feed mill in Prachinburi province, Thailand, to enhance its animal feed and nutrition businesses. With this acquisition, the plant will produce poultry and swine feed for Cargill's customers in Thailand, supporting animal production in the country. Therefore, the rising meat consumption, growing government support, and increasing strategies adopted by major players are expected to drive market growth during the forecast period.

Thailand Compound Feed Industry Segmentation

Animal feed is a mixture of raw materials and supplements fed to the livestock, sourced from either plant, animal, organic or inorganic substances or industrial processing, whether or not containing additives. The Thai compound feed market is segmented by animal type (ruminants, poultry, swine, aquaculture, and other animal types) and ingredient (cereals, cakes and meals, by-products, and supplements). The report offers market sizes and forecasts in value (USD) for all the above segments.