Asia Pacific Animal Feed Vitamin Market - Size
Base Year For Estimation
2023
Forecast Data Period
2024-2030
Historical Data Period
2018-2021
Source: Envision Intelligence Analysis & Experts Insights.
*Graph shown for illustrative purpose only, the final report will have the graph with actual data and data labels
Feed vitamins are food supplements which are given to farm animals as they are unable to get enough vitamins from the daily meals. Feed vitamins have been considered very essential for all livestock which drives the animal feed market. Vitamins become necessary sometime as deficiency of vitamin causes many diseases and also hinder the growth of animals. Increasing health concerns due to the disease outbreak in livestock and increase in demand for high-quality meat are driving the market.
APAC Animal Feed Vitamin Market Size & Growth:
In APAC region animal feed vitamin market was valued to be nearly $3.38 billion in 2017 and is projected to reach over $4.52 billion by the end of 2025 with a CAGR of almost 3.48% during forecasting period. Increasing number of the meat consuming population is driving the growth of the market. As growing industrialisation in the meat production business and changing food habits of customers, creating demand for meat with specific texture and flavour has indirectly increased the sales of feed vitamins. Increase in the share of poultry among the livestock has helped to raise the demand for the animal feed vitamins in the market. Growing awareness against the excessive use of chemicals has caused the government to have stringent regulations, especially for imported foodstuff. Demand for raw materials is rapidly growing; it is restricting the growth of animal feed vitamin market.
APAC Animal Feed Vitamin Market Share:
In APAC region animal feed vitamin market is classified by type, by livestock type, by formulation, by function, by geography. There are various factors which drive the market such as awareness regarding health, high income, the rise in demand for high-quality meat and many others. Majorly there are two vitamins, vitamin A and vitamin E which are included in the animal feed. In APAC region vitamin A mostly
Asia Pacific Animal Feed Vitamin Market - Growth
Source: Envision Intelligence Analysis & Experts Insights.
*Graph shown for illustrative purpose only, the final report will have the graph with actual data and data labels
lacks in the animals those are essential for growth, reproduction and milk production. Vitamin A helps to maintain the internal and external linings and is critical for a healthy reproductive tract. Vitamin A is not readily available in most of the feeds, and the lack of it affects the eyes of the livestock. Signs of a vitamin A deficiency include that of watery eyes, a rough hair coat, and most importantly reduction of the growth rate in the livestock. Vitamin E is necessary for the prevention of paralysis and also for hatching of eggs. A lack of vitamin E also causes failure in the reproductive system. An integration of vitamin E also helps to stabiles the oxidisation in the feed. Alfalfa is an excellent source of vitamin E.
Regarding livestock type in the APAC region, the swine and poultry play a vital role in the growth of the market. Feed vitamins play an essential role in poultry diets to improve growth efficiency and laying capacity. Improvement in nutritional management techniques along with development in technology for animal breeding should favour product demand for poultry production applications. Poultry is the largest and fastest growing segment due to the increase in population, and hence the demand for meat and egg is increased, which in turn has led the growth of the feed vitamins. In swine there is demand for high-quality pork, growing income of the middle-class population that need to meet the demand-supply gap has fuelled the growth of the feed vitamins market.
Concerning formulation in the APAC region, the market is divided into liquid, dry. The dry form of feed has more demand among animal producers as they are easy to mix with feed. The ease of storage & handling and transportation & cost advantages over liquid form are also some of
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Asia Pacific Animal Feed Vitamin Market - Porter's Five Force Analysis
Source: Envision Intelligence Analysis & Experts Insights.
*Graph shown for illustrative purpose only, the final report will have the graph with actual data and data labels
the factors that drive the demand for the dry form of feed vitamins. Thus, the dry segment is expected to continue its dominance during the forecast period.
Regarding geography, APAC is one of the dominant markets in animal feed vitamin market in 2017. Japan, India, and China are the prime consumers in the feed vitamins market in the APAC region. There are quality control issues with animal feed vitamins imported from China, mainly used in pet food. Also, the region has the significant feed industries in the world and consequently produces high demand for animal feed vitamin products. APAC is said to be the fastest growing market as well, regarding animal feed vitamin owing to the increasing demand for meat and feed vitamin in the region.
APAC Animal Feed Vitamin Market Trends:
- January 24th, 2018, Cargill opens first dedicated fish feed plant in India, tripling fish feed capacity for farmers by using animal feed vitamins.
- Jan 2018, Vitanox, the natural antioxidant to replace vitamin E in animal feeds came into the market.
APAC Animal Feed Vitamin Market Research Report:
- An executive summary condensing the whole report such that essential authority can rapidly twist up doubtlessly acquainted with brief overview and conclusion.
- To have a complete market analysis through industry value chain analysis, Porter’s five, PESTLE, SWOT analysis, and Y-o-Y analysis.
- Regional and global diversity is analysed with the major countries and the unions. Scrutinizing the revenue generation on Year–On–Year
- Identifying DROC in the current market and their impact on altering the market dynamics.
- Competitive landscape analysis to identify the merger and acquisition which will have a comparative financial analysis with significant competitors.
- Expertise investment opportunities by an analyst to the individual and organisation to have a better foothold in the market.
- Identify the latest developments, market shares and strategies that are employed by the major market players, such as
- Cargill
- Evonik Industries AG
- Adisseo France SAS
- CSPC Pharmaceutical Group Ltd
- BASF SE
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