The Asia Pacific feed ingredients market size is expected to reach USD 22.51 billion in 2024 and reach USD 34.41 billion by 2029, growing at a CAGR of 8.84% from 2024 to 2029.
A feed ingredient is a single component or a mixture of different components added to the feed. The ingredients are selected for their nutritional value, non-toxic effects, and also based on their cost. The primary nutrients that are essential for animals and will definitely be a part of the feed are proteins, vitamins, and minerals. Along with these sources of starch and fiber content are also added.
The ingredients generally include cereals, by products from mills and any other nutritional sources. By products from plants and animals and those which are not suitable for human consumption also find their way into animal feed. Ingredients which make the animals consume more feed or those which make them take food voluntarily are also included in the feed. Micronutrients required for the animals are also being manufactured in recent years.
Increasing food safety concerns, especially regarding the quality of meat and animal products, is the major factor driving the growth of feed ingredients markets. Increasing demand for nutritional feed for animals, rising number of animal infections, the thriving trend of nurturing companion animals, and requirements of farmers to increase the production as well as the rate of production of meat are expected to propel the market. However, stringent regulations on meat and its products by international agencies and a lack of awareness among many farmers regarding the feed requirements of the animals are restraining the market growth.
Cereals hold the largest market share in this segment. This is because cereals have high protein content, starch content, and small amounts of minerals. Corn is dominantly used in animal feed in several countries. However, it also depends upon the availability and cost of that particular cereal in the country. Protein Meals are further categorized into Plant protein sources and Animal Protein Sources.
Vitamins and minerals are the most important supplements required for animals.
On the basis of region, the Asia Pacific al Feed Ingredients market is categorized into China, India, Japan, Australia and Japan. Asia Pacific leads the feed ingredients market. Asia Pacific is the largest poultry and cattle producer in the world. It has a huge demand for animal feed, which resulted in an increase in demand for feed ingredients. The increase in exports of feed ingredients from developing countries is also driving the market growth.
Some of the major players in the Feed Ingredients market are BASF, Adisseo, Bunge, Cargill, Ingredion Incorporated, DSM, Novus International Inc., Alltech, Archer Daniels Midland Company, and Yara.
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