BlueWeave Consulting, a leading strategic consulting and market research firm, in its recent study, estimated Asia-Pacific compound feed market size at USD 81.69 billion in 2022. During the forecast period between 2023 and 2029, BlueWeave expects the Asia-Pacific compound feed market size to grow at a CAGR of 4.22% reaching a value of USD 115.12 billion by 2029. The increasing demand for high-quality animal protein products as a result of population increase and rising disposable incomes is a major driver driving the growth of the Asia-Pacific compound feed industry. In addition, environmental and health concerns prompted a transition toward more sustainable and organic feed sources. In addition, technological advancements in feed formulations and production techniques improved nutritional content and feed efficiency. Adoption of novel ingredients and additions, together with the expansion of the livestock industry, contributed to the overall development of the Asia-Pacific Compound feed business.
Asia-Pacific Compound Feed Market – Overview
Compound feed, also known as manufactured feed, is a nutritionally balanced mixture of various ingredients designed to meet the dietary requirements of livestock and poultry. This ready-to-eat feed includes cereals, grains, protein-rich sources (e.g., soybean meal), vitamins, minerals, and additives. Produced through precise formulation and processing, compound feed ensures optimal growth, health, and productivity of animals, while reducing wastage and cost inefficiencies associated with individual ingredient feeding. It plays a crucial role in modern livestock farming, supporting efficient and sustainable meat, milk, and egg production. Properly balanced compound feed enhances animal welfare and fosters food security by supporting the livestock industry's growth and productivity.
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Impact of COVID-19 on Asia-Pacific Compound Feed Market
The COVID-19 pandemic significantly impacted Asia-Pacific compound feed market, causing disruptions across the region. The stringent lockdown measures and supply chain disruptions led to shortages of raw materials, increasing production costs for feed manufacturers. With movement restrictions affecting logistics, the distribution of feed products faced challenges, affecting livestock farmers. Also, reduced consumer purchasing power due to economic uncertainties impacted the demand for animal products, affecting the overall feed market. Despite these challenges, the industry witnessed a shift towards more resilient and sustainable practices to mitigate future risks posed by similar global crises.
Asia-Pacific Compound Feed Market – By Ingredient
Based on ingredients, Asia-Pacific compound feed market is divided into Cereals, Cakes & Meals, and Animal B-products segments. The largest segment in the Asia-Pacific Compound feed market is cereals, which encompasses various grains and cereals used in animal feed production. This segment is characterized by its significant market share and widespread use in the region. The other segments, cakes & meals and animal B-products are also important components of the market but do not match the dominance of the cereals segment. As demand for livestock and poultry products continues to grow in the region, the cereals segment is expected to maintain its leading position in the compound feed industry.
Competitive Landscape
Asia-Pacific compound feed market is fiercely competitive. Major companies in the market include Charoen Pokphand Foods, Cargill Inc., Land O Lakes Purina, Alltech Inc., Archer Daniels Midland, ForFarmers, DeKalb Feeds, Kent Feeds, Weston Milling Animal Nutrition, and Nutreco NV. These companies use various strategies, including increasing investments in their R&D activities, mergers, and acquisitions, joint ventures, collaborations, licensing agreements, and new product and service releases to further strengthen their position in Asia-Pacific Compound feed market.
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