Asia - Pacific Feed Additives Market - Analysis of Growth, Trends, and Forecast (2019 - 2024)

Market Overview

The Asia – Pacific feed additives market was valued at USD 10.21 billion in 2018 and is projected to register a robust CAGR of 4.69%, over the forecast period of 2019-2024. The increasing consumption of meat and animal byproducts worldwide and the growth of the meat industry, especially in the emerging economies of Asia-Pacific, such as China and India, are the major drivers of the market studied.

Scope of the Report

A feed additive is a supplement that is added to the animal feed to supply necessary nutrients that animals might miss out on from regular meals. Vitamins, amino acids, fatty acids, and minerals are some common feed additives in use.

The end consumers of feed additives are compound feed manufacturers, integrators, farmers, home-mixers, livestock, and the aquaculture industry. Growth in the industrial production of livestock and the processed meat industry is driving the demand for the feed additives market in Asia-Pacific. Issues regarding livestock disease outbreak further necessitate the application of various additives to manage and maintain animal health and wellness.

Key Market Trends

Changing Demographics in the Asia – Pacific Region

The demand for meat-based food products is increasing in the Asia-Pacific region, especially in China and India, with rapid population growth and economic growth in these regions. This increased demand for meat protein has triggered increased uptake of feed additives and feed enzymes. Apart from improving nutritional value, feed enzymes are gaining importance for their role in meat quality improvement with concern over the environment.

The increase in demand can be attributed to the continuous economic growth of countries in these regions that has led to a change in demographics, food habits, and lifestyle. The impact of globalization and urbanization tend to change the mindset of people in the region, where consumers experiment with their food habits. The food habits and eating patterns have shifted from cereal and vegetable-based to more meat protein based, currently.

China Leads the Asia – Pacific Market

The Chinese feed additives market was valued at USD 5,162.7 million in 2018 and is expected to reach USD 6,848.8 million by 2024, registering a CAGR of 4.85%, during the forecast period.

Chinese animal feed additive industry is heavily influenced by the governmental initiatives (the country’s efforts to modernize and find efficiencies in its structure and practices). Increasing demand for meat and animal products to meet the protein needs of the growing population of 1.38 billion is considered as the major driver for the Chinese animal feed additive market.

Competitive Landscape

The Asia-Pacific feed additives market is highly concentrated, with the top ten companies accounting for more than 50.0% of the market share. The leading players in the market are focused on business expansion and are targeting emerging communities like Vietnam, Philippines, etc., by either investing in a new production unit or acquiring established small players in the region. Investment in the R&D activities to introduce new useful products is another strategy adopted by manufacturers to stay ahead of the competition in the matured markets of North America and Europe.

Key players like BASF, Bio-Vet JSC, Cargill Inc., Kemin Industries, Novozymes, and Alltech occupying 92% of the market. These companies majorly focus on expanding their business, primarily in developing countries like India and Thailand. Moreover, there is an increase in their investment in R&D activities for launching new products with better, latest, and new features

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1 INTRODUCTION

1.1 Study Deliverables

1.2 Study Assumptions

1.3 Scope of the Study

2 RESEARCH METHODOLOGY

3 EXECUTIVE SUMMARY

4 MARKET DYNAMICS

4.1 Market Overview

4.2 Market Drivers

4.3 Market Restraints

4.4 Porter’s Five Forces Analysis

4.4.1 Bargaining Power of Suppliers

4.4.2 Bargaining Power of Buyers

4.4.3 Threat of New Entrants

4.4.4 Threat of Substitute Products

4.4.5 Intensity of Competitive Rivalry

5 MARKET SEGMENTATION

5.1 Additive Type

5.1.1 Antibiotics

5.1.1.1 Tetracycline

5.1.1.2 Penicillin

5.1.1.3 Sulfonamide

5.1.1.4 Macrolide

5.1.1.5 Aminoglycoside

5.1.1.6 Cephalosporin

5.1.1.7 Other Antibiotics

5.1.2 Vitamins

5.1.2.1 Vitamin A

5.1.2.2 Vitamin E

5.1.2.3 Vitamin B

5.1.2.4 Vitamin C

5.1.2.5 Other Vitamins

5.1.3 Antioxidants

5.1.3.1 BHA

5.1.3.2 BHT

5.1.3.3 Ethoxyquin

5.1.3.4 Other Antioxidants

5.1.4 Amino Acids

5.1.4.1 Tryptophan

5.1.4.2 Lysine

5.1.4.3 Methionine

5.1.4.4 Threonine

5.1.4.5 Other Amino Acids

5.1.5 Enzymes

5.1.5.1 Carbohydrase

5.1.5.2 Phytase

5.1.5.3 Other Enzymes

5.1.6 Acidifiers

5.1.6.1 Lactic Acid

5.1.6.2 Propionic Acid

5.1.6.3 Fumaric Acid

5.1.6.4 Other Acidifiers

5.1.7 Mycotoxin Detoxifiers

5.1.7.1 Binder

5.1.7.2 Biotransformer

5.1.8 Prebiotics

5.1.8.1 Insulin

5.1.8.2 Fructooligosaccharide

5.1.8.3 Galactooligosaccharide

5.1.8.4 Other Prebiotics

5.1.9 Probiotics

5.1.9.1 Lactobacilli

5.1.9.2 Bifidobacteria

5.1.9.3 Other Probiotics

5.1.10 Palatability Enhancers

5.1.10.1 Flavours

5.1.10.2 Sweeteners

5.1.11 Pigments

5.1.11.1 Carotenoids

5.1.11.2 Curcumin and Spirulina

5.1.12 Binders

5.1.12.1 Natural

5.1.12.2 Synthetic

5.1.13 Minerals

5.1.13.1 Macro Mineral

5.1.13.2 Micro Mineral

5.2 Animal Type

5.2.1 Swine

5.2.2 Poultry

5.2.3 Ruminant

5.2.4 Aquaculture

5.2.5 Other Animal Types

5.3 Geography

5.3.1 China

5.3.2 India

5.3.3 Japan

5.3.4 Thailand

5.3.5 Australia

5.3.6 Rest of Asia-Pacific

6 COMPETITIVE LANDSCAPE

6.1 Most Adopted Strategies

6.2 Market Share Analysis

6.3 Company Profiles

6.3.1 Adisseo France SaS

6.3.2 BASF SE

6.3.3 Danisco AS

6.3.4 Novozymes AS

6.3.5 Alltech Inc.

6.3.6 Archer Daniels Midland Co. (ADM)

6.3.7 Biovet JSC

6.3.8 Cargill Inc.

6.3.9 Chr. Hansen Inc.

6.3.10 DSM Nutritional Products Inc.

6.3.11 Elanco Animal Health Inc.

6.3.12 Evonik Industries AG

6.3.13 InVivo NSA SA

6.3.14 Kemin Industries Inc.

6.3.15 ADDCON Group

6.3.16 Novus International Inc.

6.3.17 Nutreco NV

6.3.18 Pfizer Animal Health

6.3.19 Phibro Animal Health Corp.

6.3.20 Provimi Holding BV

6.3.21 Tessenderlo Group

6.3.22 Balchem Corp.

6.3.23 Lallemand Inc.

6.3.24 Qualitech Inc.

6.3.25 Zinpro Corporation

6.3.26 Avebe UA

6.3.27 Beneo GmbH

6.3.28 Borregaard

6.3.29 CP Kelco

6.3.30 Ajinomoto Co. Inc.

6.3.31 Ingredion Incorporated

6.3.32 The Roquette Group

6.3.33 Uniscope Inc.

7 MARKET OPPORTUNITIES AND FUTURE TRENDS

8 DISCLAIMER

MARKET SEGMENTATION

Additive Type

Antibiotics

Tetracycline

Penicillin

Sulfonamide

Macrolide

Aminoglycoside

Cephalosporin

Other Antibiotics

Vitamins

Vitamin A

Vitamin E

Vitamin B

Vitamin C

Other Vitamins

Antioxidants

BHA

BHT

Ethoxyquin

Other Antioxidants

Amino Acids

Tryptophan

Lysine

Methionine

Threonine

Other Amino Acids

Enzymes

Carbohydrase

Phytase

Other Enzymes

Acidifiers

Lactic Acid

Propionic Acid

Fumaric Acid

Other Acidifiers

Mycotoxin Detoxifiers

Binder

Biotransformer

Prebiotics

Insulin

Fructooligosaccharide

Galactooligosaccharide

Other Prebiotics

Probiotics

Lactobacilli

Bifidobacteria

Other Probiotics

Palatability Enhancers

Flavours

Sweeteners

Pigments

Carotenoids

Curcumin and Spirulina

Binders

Natural

Synthetic

Minerals

Macro Mineral

Micro Mineral

Animal Type

Swine

Poultry

Ruminant

Aquaculture

Other Animal Types

Geography

China

India

Japan

Thailand

Australia

Rest of Asia-Pacific