Asia-Pacific Ruminant Feed Premix Market - Growth, Trends and Forecast (2020 - 2025)

The Asia- Pacific Ruminant Feed Premix market is estimated to register a CAGR of 3.5%, during the forecast period (2020-2025). The Asia Pacific is the fastest-growing market with China and India contributing major share. The factors which are making these countries contribute to the major market share in this region, are increasing income levels and rising per capita meat consumption. The common ruminant feed premixes are available in dried and liquid forms. The major drivers for this market include rising meat consumption, increasing awareness toward meat quality and safety, increasing mass production of meat, and disease outbreaks. Also, the declining feed conversion rates help in driving the demand for ruminant feed premix market in this region during the forecast period. The market is fairly consolidated with the major players, such as Cargill Inc., Godrej Agrovet Ltd., and ADM Animal Nutrition, occupying substantial share in the region. Product launches, and mergers and acquisitions, are some of the market strategies most adopted but he players for expanding customer base and strengthening foothold across the region.

Key Market Trends

Rising Demand for Animal Protein

The demand for the Ruminant feed premix market is majorly driven by the rising demands for high-value meat and dairy protein. With a rising population in the Asia Pacific region and increasing awareness among the people regarding health benefits of consuming protein sources, is creating a heavy demand for meat consumption. According to the Food and Agriculture Organization Corporate Statistical Database, the consumption of ruminant meat has shown a constant growth from the year 2016. The ruminant meat consumption has shown an increase of 3.5%, by 2018, over 2016. Moreover, the surging demand for environmentally safe and chemical-residue-free meat, meat products, milk & milk products, is emphasizing the need for increased productivity through feed premixes. Hence, these factors are further expected to drive the feed premixes market in Asia-Pacific, during the forecast period.

China Dominates the Market

The Asia-Pacific region will remain the fastest-growing market during the forecast period, with the growing demand for ruminant feed premix in China. With the consistent growth in the animal husbandry industry, farmers are moving towards the industrialized production of animals from systematic production. However, the farmers are also dependent on home-grown feed, especially for ruminants. With an increase in awareness about providing required nutrients to animals for increasing productivity as well as animal health, the demand for premixes is boosting in these traditional markets. With an increasing demand for animal proteins in the country, the demand for the Ruminant feed premix market is expected to show positive growth during the forecast period.

Competitive Landscape

Companies like BASF, Cargill Inc., Archer Daniels Midland Co. (ADM), and Godrej Agrovet Ltd., are some of the major players in the Asia-Pacific ruminant feed premix market. These companies focus on expanding their businesses, especially in developing countries like China, India, and Thailand. Moreover, they are increasing their investments in R&D activities either for launching new products with better, latest, and new features or for acquiring other players to occupy major market share. For instance, in February 2019, The Archer Daniels Midland Company (ADM) - an American global food processing and commodities trading corporation acquired Neovia Group, a leading player in the animal nutrition industry, to become a global leader in the animal feed industry.

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