June 12, 2017

Asia-Pacific feed additives market to reach US$9.263 billion by 2022

The Asia-Pacific feed additives market is projected to reach US$9.263 billion by 2022, increasing from US$6.528 billion in 2016, and growing at a CAGR of 6.01% during this period.

The outlook is obtained from Research and Market's "Asia Pacific Feed Additives Market - Forecasts from 2017 to 2022" report that part of its latest offering

Asia-Pacific is expected to be the fastest growing feed additive market due to rising populations and increase in per-capita meat consumption with respect to growth in middle-class spending capacity, especially in South Korea, China, and India.

Additionally, adoption and implementation of innovative animal husbandry practices further drives the feed additive market in this region.

The outbreak of disease coupled with rising health concern compelled regional governments to form regulation in order to standardise animal products which, in turn, create ample opportunities for future market growth.

Other factors, like the modernisation of retail trends, an increase in the number of fast food chains and favorable demographics, attract various players across the globe while augmenting the market growth.

The Indian feed additive market is expected to growth at the fastest rate followed by China given its high population base coupled with rising meat consumptions.

- Business Wire