Asia Pacific Swine Feed Market Outlook 2031
The Asia pacific swine feed market size was USD 65.45 Billion in 2022 and is projected to reach USD 89.20 Billion by 2031 register a robust CAGR 3.5% during the forecast period, 2023–2031. The growth of the market is attributed to increasing demand for pork meat.
Swine feed is a type of animal feed to improve fat gain. Swine feed is made with natural corn, soybean and wheat-based ingredients. This feed increases milk production and enhances the growth rate of piglet.
Pork is the most preferred and globally consumed meat owing to its cost-effectiveness. Different class of pigs have different nutrients intake individually. Normally, pork is considered to be high-protein, which in turn, increases the demand for high-quality of pork meat.
Asia Pacific Swine Feed Market Trends, Drivers, Restraints, and Opportunities
- Growing population and increasing disposable income are major factors driving the market growth.
- The introduction of innovative supplements to improve the quality of pork can foster the market growth.
- Occurrence of pathogenic diseases owing to pork meat consumption can hinder the growth of the market.
- The COVID-19 outbreak hampered the production of pork meat across the globe. However, the relaxation in trade activities is expected to help the market recover soon.
- Increasingly strict government regulations can potentially hamper the revenue of the market growth.
- Rising awareness of nutrients to farmers can create lucrative opportunity to the market growth.
Scope of The Asia Pacific Swine Feed Market Report
The report on the Asia Pacific swine feed 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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Swine Feed Market - Asia Pacific Industry Analysis, Growth, Share, Size, Trends, and Forecast
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Base Year
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2022
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Historic Data
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2016–2021
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Forecast Period
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2023–2031
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Segmentation
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Ingredients (Cereals, Cereal By-products, Oilseed Meal, Oils, Molasses, Supplements, and Others), Supplements (Antibiotics, Vitamins, Antioxidants, Amino Acids, Enzymes, and Acidifiers)
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Regional Scope
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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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Cargill, Incorprated.; ADM Animal Nutrition; Alltech; Charoen Pokphand Foods PCL; and New Hope Group.
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Asia Pacific Swine Feed Market Segment Insights
Cereal segment is expected to expand at a healthy CAGR
Based on ingredients, the market is divided into cereals, cereal by-products, oilseed meal, oils, molasses, supplements, and others. The cereal segment is expected to expand at a healthy CAGR during the forecast period owing to easy availability of cereal pellets for mass feeding production. However, the supplements segment is anticipated to hold a key share of the market in the coming years due to introduction of innovative supplements.
Supplements segment is projected to account a significant market share
On the basis of supplements, the market is segregated into antibiotics, vitamins, antioxidants, amino acids, enzymes, and acidifiers. The antibiotics segment is projected to account for a significant market share during the forecast period owing to its ability to elevate the growth-promoting levels. On the other hand, the vitamins segment is anticipated to account for a major market share during the forecast period. Rising demand for vitamin supplements for well-balanced diet is driving the segment growth.
China is anticipated to constitute a major market share
In terms of geography, the Asia Pacific swine feed market is classified as China, India, Japan, Australia, and Rest of Asia Pacific. The market in China is expected to constitute a major share of the market during the projected period owing to high pig farming. However, the market in Australia is anticipated to expand at a rapid pace during the forecast period owing to increasing export of pork to Australia.
Additionally, the outbreak of COVID-19 has reduced the demand for pork commercially. This, in turn, has negatively impacted the demand for swine feed. Thus, hampering the growth of the market in terms of value sales. However, the relaxation in restriction has improved the pork meat exports.
Segments
The Asia pacific swine feed market has been segmented on the basis of
Ingredients
- Cereals
- Cereal By-Products
- Oilseed Meal
- Oils
- Molasses
- Supplements
- Others
Supplements
- Antibiotics
- Vitamins
- Antioxidants
- Amino Acids
- Enzymes
- Acidifiers
Geography
- China
- India
- Japan
- Australia
- Rest of Asia-Pacific
Key Players
Competitive Landscape
Key players competing in the Asia pacific swine feed market are Cargill, Incorprated.; ADM Animal Nutrition; Alltech; Charoen Pokphand Foods PCL; and New Hope Group.
Industry players are engaging in creative meat packaging and innovative farming to create a competitive advantage in the market. In August 2021, Charoen Pokphand Foods announced that its swine farms have adopted renewable energy with installation of solar panels and biogas plant.
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