The market is poised to witness a CAGR of 3.9%, during the forecast period 2020-2025. Ruminant livestock is the second largest consumers of compound feed in the world. The demand for ruminant feed is high due to the industrialization of dairy and meat.
Key Market Trends
Growing Demand for Animal Protein
One of the highest growth for meat consumption is recorded in the Asia-Pacific region because of changing diet patterns, urbanization, rising population, and economic growth. In recent years there is an increasing awareness among the population, regarding the health benefits of protein intake. This brought several changes in dietary habits and consumption patterns, where the shift towards the increased consumption of meat and dairy products has been observed. Owing to this, the production quantity of ruminant meat has shown a positive growth rate of 8.3% from 2016 to 2019. Due to rising health consciousness among consumers, they are focusing on nutritious rich products, derived from cattle that are provided by enriched feed products. This increasing demand for various animal products is imposing a positive impact on the growth of the ruminant feed market in this region.
China Dominates the Market
The growing consumption of cattle feed in China is creating opportunities for cattle feed additives and organic feed. Manufacturers are developing innovative techniques to increase production capacity and reduce costs. Feeding bovine livestock is challenging in pacific countries like Australia as compared to India where substitute products for ruminants which are cheaper are widely available. Ruminant feeding has become an important part in developing countries like India as it reduces feed input cost for livestock producers in two ways: firstly, it improves the cattle’s digestive system by pH shift and metabolic modification, and secondly, it improves and maintains the growth of the animal by providing important nutrients, such as amino acids and vitamins. Furthermore, the growing population, increasing per capita consumption of meat, and the increasing adoption of intensive farming methods are the major factors driving the demand for ruminant feed in the region.
Competitive Landscape
The Asia-pacific ruminant feed market is consolidated with some feed manufacturers, while the rest of the market is divided among small companies. Major investments are done by companies in their domestic markets to cater to the local demand. Expansion is the second-most preferred growth strategy, followed by investment, in the ruminant feed market. In addition to this, various companies are also enhancing the production capacities of their existing plants across the world. Major companies in the region include Alltech, Cargill, Incorporated, Charoen Pokphand Foods PCL, ADM, and New Hope Group.
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Key Market Trends
Growing Demand for Animal Protein
One of the highest growth for meat consumption is recorded in the Asia-Pacific region because of changing diet patterns, urbanization, rising population, and economic growth. In recent years there is an increasing awareness among the population, regarding the health benefits of protein intake. This brought several changes in dietary habits and consumption patterns, where the shift towards the increased consumption of meat and dairy products has been observed. Owing to this, the production quantity of ruminant meat has shown a positive growth rate of 8.3% from 2016 to 2019. Due to rising health consciousness among consumers, they are focusing on nutritious rich products, derived from cattle that are provided by enriched feed products. This increasing demand for various animal products is imposing a positive impact on the growth of the ruminant feed market in this region.
China Dominates the Market
The growing consumption of cattle feed in China is creating opportunities for cattle feed additives and organic feed. Manufacturers are developing innovative techniques to increase production capacity and reduce costs. Feeding bovine livestock is challenging in pacific countries like Australia as compared to India where substitute products for ruminants which are cheaper are widely available. Ruminant feeding has become an important part in developing countries like India as it reduces feed input cost for livestock producers in two ways: firstly, it improves the cattle’s digestive system by pH shift and metabolic modification, and secondly, it improves and maintains the growth of the animal by providing important nutrients, such as amino acids and vitamins. Furthermore, the growing population, increasing per capita consumption of meat, and the increasing adoption of intensive farming methods are the major factors driving the demand for ruminant feed in the region.
Competitive Landscape
The Asia-pacific ruminant feed market is consolidated with some feed manufacturers, while the rest of the market is divided among small companies. Major investments are done by companies in their domestic markets to cater to the local demand. Expansion is the second-most preferred growth strategy, followed by investment, in the ruminant feed market. In addition to this, various companies are also enhancing the production capacities of their existing plants across the world. Major companies in the region include Alltech, Cargill, Incorporated, Charoen Pokphand Foods PCL, ADM, and New Hope Group.
Reasons to Purchase this report:
- The market estimate (ME) sheet in Excel format
- 3 months of analyst support
Table of Contents
1 INTRODUCTION
4 MARKET DYNAMICS
5 MARKET SEGMENTATION
6 COMPETITIVE LANDSCAPE
Companies Mentioned
A selection of companies mentioned in this report includes:
- Cargill, Incorporated
- Charoen Pokphand Foods PCL
- Alltech
- ADM
- New Hope Group
- Godrej Agrovet
- Land O Lakes, Inc.
- Adisseo
Methodology
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