The Asia-Pacific feed vitamins market size is projected to expand at a significant CAGR during the forecast period, 2021-2028. The growth of the market is attributed to increasing preference for animal-sourced protein.
Feed vitamins provide essential vitamins, included in animal feeds in adequate amount for the complete growth and performance of the livestock. Vitamins are organic nutrients that are provided to farm animals to confer them with high nutrition level and better health and disease prevention. They do not provide energy but they are necessary in the use of energy. Feed vitamins are mainly used by dairy and poultry animals.
Market Trends, Drivers, Restraints, and Opportunities
- Increasing consumption of fortified food and supplements is anticipated to drive the market growth during the forecast period.
- Changing lifestyle is estimated to spur the market growth in the coming years.
- Growing risks of various diseases is projected to boost the market growth in the coming years.
- Rising demand for high-quality milk, eggs, and meat is anticipated to drive the market growth during the forecast period.
- High cost of raw materials and processing is projected to hamper the market growth.
- High cost encored with the natural vitamins is estimated to restrict the market growth.
- Many companies are advertising their products as a non-prescription product, which can be taken along with the OTC drugs, is estimated to create lucrative opportunities for the market.
Scope of the Report
The report on the Asia Pacific feed vitamins market includes an assessment of the market, trends, segments, and regional markets. Overview and dynamics have also been included in the report.
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Attributes
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Details
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Report Title
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Asia Pacific Feed Vitamins Market - Industry Analysis, Growth, Share, Size, Trends, and Forecast
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Base Year
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2020
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Historic Data
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2018–2019
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Forecast Period
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2021–2028
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Segmentation
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Types (Vitamin A, Vitamin B, Vitamin C, Vitamin E, and Others) and Animal Types (Ruminants, Poultry, Swine, Aquacultures, and Others)
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Geography
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China, India, Japan, Australia, and Rest of Asia Pacific
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Report Coverage
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Company Share, Market Analysis and Size, Competitive Landscape, Growth Factors, and Trends, and Revenue Forecast
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Key Players Covered in the Report
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BASF SE; Advanced Animal Nutrition Pty Ltd.; Kemin Industries Inc.; Pangoo Biotech; and China Vitamins LLC
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Asia-Pacific Feed Vitamins Market Segment Insights
Vitamins E segment to hold a significant market share
On the basis of types, the market is divided vitamin A, vitamin B, vitamin C, vitamin E, and others. The vitamin A segment is expected to hold a key share of the market in the coming years, as it help in regulating body function. However, the vitamin E segment is anticipated to expand at a rapid pace during the forecast period, as it promotes good health. Moreover, the lack of vitamin E causes failure in the reproductive system, which is increasing the adoption of vitamin C-rich food products.
Poultry segment is anticipated to hold a large market share
Based on animal types, the market is segmented into ruminants, poultry, swine, aquacultures, and others. The ruminants segment is projected to constitute a major market share during the forecast period, as it is high in fiber. Moreover, the reduction of ungradable fraction of ruminal starch and increasing efficiency of amyl lytic ruminal flora are driving the segment growth. On the other hand, the poultry segment is anticipated to expand at a rapid pace during the forecast period.
India is estimated to account a major market share
On the basis of geography, the market is classified as China, India, Japan, Australia, and Rest of Asia Pacific. China is expected to constitute a significant share of the market during the projected period owing to changing demographics and consumption of animal-sourced protein. Moreover, the consumption as well as production of natural vitamins is high in the country. However, the market in India is anticipated to expand at a rapid pace during the forecast period due to increasing consumption of nutrition rich products, high awareness, and rising population.
Segments
The Asia-Pacific feed vitamins market has been segmented on the basis of
Types
- Vitamin A
- Vitamin B
- Vitamin C
- Vitamin E
- Others
Animal Types
- Ruminants
- Poultry
- Swine
- Aquacultures
- Others
Geography
- China
- India
- Japan
- Australia
- Rest of Asia Pacific
Key Players
Competitive Landscape
Key players competing in the Asia-Pacific feed vitamins market includes BASF SE; Advanced Animal Nutrition Pty Ltd.; Kemin Industries Inc.; Pangoo Biotech; and China Vitamins LLC.
Some of these players are engaging in business strategies such as mergers, acquisitions, partnerships, collaborations, capacity expansion, and product launches to enhance their market share.
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