Poultry Livestock to Continue Dominance in Asia-Pacific Animal Feed Additive Market until 2023
Rising
population, industrialization of livestock production and growing preference
for protein rich diet to boost demand for animal feed additives in Asia-Pacific
through 2023
According
to TechSci Research report, “Asia-Pacific Animal Feed Additive Market By Type, By Livestock, By Country, Competition
Forecast & Opportunities, 2013 – 2023’’, the Asia-Pacific animal feed
additive market is forecast to surpass $ 6.3 billion by 2023, owing to
increasing consumption of animal meat, which is leading to higher production of
livestock across the region. Increasing awareness among farmers is also driving
the demand for quality feed additives for the livestock. With rising population,
growing consumption of protein rich food is being witnessed across the region,
as people are becoming more focused towards their health and reducing risks of
diet-related diseases. The subsidies on meat exports in countries like India are
also driving various meat manufacturers to increase meat production. Consequently,
growing focus towards the dietary needs of animals is positively impacting the Asia-Pacific
animal feed additive market.
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Increasing
government regulations pertaining to food safety have coaxed the manufacturers
of feed additives to comply with the new regulations that analyze risk-based
preventive control for animal food manufacturing facilities. Demand for better
quality meat to ensure safety from various diseases that occur due to infected
meat is a major factor anticipated to continue to fuel the region’s animal feed
additive market. Amino acid type of feed additives is among the most popular
product categories in Asia-Pacific, as it meets the nutritional requirements of
animals and offers a cost-effective means of supplying protein. Poultry sector
generates the largest demand for animal feed additives, owing to huge
production of guinea, geese, chicken, pigeons and other domesticated birds
across the region, especially backed by the large-scale requirement of chicken
meat.
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“China
controls the largest share in Asia-Pacific animal feed additive market, mainly
due to higher livestock production compared to other Asian countries. As a
result of growing population in the country, demand for meat and milk products
would continue to grow in the coming years. The region witnesses higher adoption
of intensive farming, which in turn is anticipated to aid the country’s animal
feed additive market over the course of next five years.”, said Mr. Karan
Chechi, Research Director with TechSci Research, a research based global
management consulting firm.
“Asia-Pacific Animal Feed Additive Market By Type, By
Livestock, By Country, Competition Forecast & Opportunities, 2013 – 2023” has
evaluated the future growth potential of animal feed additive market and
provides statistics and information on market size, structure and future market
growth. The report intends to provide cutting-edge market intelligence and help
decision makers take sound investment decisions. Besides, the report also
identifies and analyzes the emerging trends along with essential drivers,
challenges and opportunities in the Asia-Pacific animal feed additive market.
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