The Thailand feed additives market size was valued at USD 438.64 Million in 2022 and is projected to reach USD 716.28 Million by 2031, expanding at a CAGR of 5.6% during the forecast period 2023-2031. The growth of the market is attributed to the increasing expansion of the poultry business and growing demand for animal feed additives for improving animal health.
A feed additive is a type of food supplement primarily given to animals in addition to their normal diet to improve the overall growth conditions of animals. These feed & animal-derived foods increase the digestibility of feed materials and ensure required nutrition for healthy growth. Thailand is one of Southeast Asia's main markets for feed additives as the country witness a wide practice of animal husbandry as a profession for a large number of the population.
Some of the key factors such as rising demand for meat and cheap production costs are the principal drivers of the overall meat production growth. The increasing demand for meat can be attributed to rising number of health-conscious population and their tendency toward animal-sourced protein to maintain balance diet.
Regular intake of food nutrients, particularly protein, helps in building up strong physical and mental growth, which represent as a key aspect of the market expansion in the country. The COVID-19 epidemic has posed a major threat to the market due to prolonged shut down of feed manufacturing sectors and disruption of supply chain.
Thailand Feed Additives Market Trends, Drivers, Restraints, and Opportunities
-
Rising demand for livestock-based products such as dairy-based products, meat, and eggs is projected to drive the market during the targeted period.
-
Increasing population of the country and wide commercialization of meat-based products by a large number of the population are key drivers that boost the market.
-
High fluctuation of raw material prices and lack of strong supply chain for feed additives are major challenges that can hinder the market growth.
-
Issues concerning to growing incidences of virus spread from animal to human and several evidence of flu cases are projected to hamper the market expansion.
-
Availability of various basic feed items such as corn, wheat, and barley along with increasing awareness of several healthy feed products of animals present key factors that offer lucrative growth opportunities of the market.
Scope of Thailand Feed Additives Market Report
The report on the Thailand feed additives market includes an assessment of the market, trends, segments, and regional markets. Overview and dynamics have also been included in the report.
|
Attributes
|
Details
|
|
Report Title
|
Feed Additives Market - Thailand Industry Analysis, Growth, Share, Size, Trends, and Forecast
|
|
Base Year
|
2022
|
|
Historic Data
|
2016–2021
|
|
Forecast Period
|
2023–2031
|
|
Segmentation
|
Types (Enzymes, Antibiotics, Vitamins, Antioxidants, Minerals, Acidifiers, Mycotoxin Detoxifiers, Pigments, Amino Acids, Prebiotics, Probiotics, and Others) and Animal Types (Aquaculture, Swine, Poultry, Ruminants, and Others)
|
|
Country
|
Thailand
|
|
Report Coverage
|
Company Share, Market Analysis and Size, Competitive Landscape, Growth Factors, and Trends, and Revenue Forecast
|
|
Key Players Covered in the Report
|
BASF (Thai) Ltd.; Adisseo Trading (Thailand Ltd.); Cargill Siam Ltd.; DSM Nutritional Products (Thailand) Ltd. and Alltech Thailand
|
Thailand Feed Additives Market Segment Insights
Antibiotics segment is expected to grow at a rapid pace
Based on types, the Thailand feed additives market is divided into enzymes, antibiotics, vitamins, antioxidants, minerals, acidifiers, mycotoxin detoxifiers, pigments, amino acids, prebiotics, probiotics, and others. The antibiotic segment is expected to grow at a rapid pace during the forecast period as it is widely given to maintain proper growth by providing basic immune protection from diseases. Moreover, the wide availability of facilities for treating unwell animals clinically and wide incidence of infectious disease among domesticated animals are key drivers of the segment.
Poultry segment is anticipated to account for a major market share
On the basis of animal types, the market is segregated into aquaculture, swine, poultry, ruminants, and others. The poultry segment is anticipated to account for a major market share during the forecast period due to massive practice of poultry farming in the country. Increasing demand for chicken meat and eggs, impacted by the rising number of the population preferring to consume meat presents another key factor for the segment expansion.
On the other hand, the swine segment is projected to register a high CAGR during the forecast period owing to wide farming practice and high demand for pork-meat products. The expansion of the processed meat products of pork in the country play another key factor for the segment growth.
Segments
The Thailand feed additives market has been segmented on the basis of
Types
- Enzymes
- Antibiotics
- Vitamins
- Antioxidants
- Minerals
- Acidifiers
- Mycotoxin Detoxifiers
- Pigments
- Amino Acids
- Prebiotics
- Probiotics
- Others
Animal Types
- Aquaculture
- Swine
- Poultry
- Ruminants
- Others
Country
Key Players
Competitive Landscape
Key players competing in the Thailand feed additives market are BASF (Thai) Ltd.; Adisseo Trading (Thailand Ltd.); Cargill Siam Ltd.; DSM Nutritional Products (Thailand) Ltd. and Alltech Thailand. Some of these players are taping the market potential by using various market strategies such as acquisition of other companies, investing in their R&D programs, and launching new products to enhance their market share.
Request For Customization
Enquiry Before Buying
Speak With Analyst
