DUBLIN--(BUSINESS WIRE)--The "Thailand Animal Feed Market - Forecasts from 2021 to 2026" report has been added to ResearchAndMarkets.com's offering.
The Thailand animal feed market is projected to witness a compound annual growth rate of 2.96% to grow to US$6.985 billion by 2026, from US$5.697 billion in 2019. A significant increase in the export of Thai chicken in recent years and it is anticipated that with the opening of a new export destination such as Japan and other European Union countries, the market for animal feed will grow exponentially in the coming years. For instance, according to the Thai Department of Customs, the country's chicken meat export has increased from nearly 546 thousand MT in 2014 to 950 thousand MT in 2019.
Growing consumption of meat and other livestock products
Animal feed is considered as the demand-led 'livestock revolution' which is taking place because of a rapidly growing population, income growth, and increasing urbanization. Growing consumption of meat and other end products such as milk, eggs across the different provinces is considered as one of the prime factors driving the market growth during the forecast period. In addition, a growing number of supermarkets, convenience stores, and quick restaurant services have impacted the demand for meat and other products which is further driving the growth of the market in the coming years. For instance, according to the United States Department of Agriculture (USDA), the number of convenience stores in Thailand has increased from 11,797 in 2015 to over 14,403 in 2019. In August 2021, according to European traders, a group of importers in Thailand had ordered and issued an international tender to buy and purchase up to 139,500 tones of animal feed wheat. The traders had stated that the shipments had to be completed by December 2021.
Cattle is projected to hold a notable share in the animal feed market
By Livestock, Thailand's animal feed market is divided into aquatic animals, cattle, poultry, and others. Cattle and poultry are expected to hold a significant share in the country's animal feed market. The prime factor driving the segment demand for animal feed is the growing number of cattle populations in the country. Thailand has the largest cattle population in the ASEAN region and is a significant exporter of beef and dairy products. A rising number of cattle heads and heard is expected to drive the market growth. Data from Medwin Publishers shows that the cattle population in the country has increased from 4.71 million heads in 2015 to 5.042 million heads in 2020. Furthermore, increasing consumption of feed by cattle is another key factor that is expected to drive the segment market demand for animal feed. Thai Feed Mill Association report on livestock animal feed consumption shows that feed consumption by cows in the country has grown from 0.62 million tons in 2016 to 1.07 million tons in 2021. Hence increasing consumption will drive significant market growth during the forecasted period.
Market Segmentation:
By Type
- Fodder & Forage
By Livestock
- Compound Feed
By LivestockBy Livestock
- Aquatic animals
- Cattle
- Poultry
- Others
By Form
- Dry
- Liquid
By Production System
- Integrated
- Commercial Mills
By Source
- Organic
- Conventional
By Raw Material
- Cereals & Grains
- Wheat
- Maize
- Barley
- Oilseeds
- Soybean
- Rapeseed
- Others
- Pulses
- Others
Key Topics Covered:
1. INTRODUCTION
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET DYNAMICS
4.1. Market Drivers
4.2. Market Restraints
4.3. Porter's Five Force Analysis
4.4. Industry Value Chain Analysis
5. THAILAND ANIMAL FEED MARKET BY TYPE
5.1. Introduction
5.2. Fodder & Forage
5.2.1. By Livestock
5.3. Compound Feed
5.3.1. By Livestock
6. THAILAND ANIMAL FEED MARKET BY LIVESTOCK
6.1. Introduction
6.2. Aquatic animals
6.3. Cattle
6.4. Poultry
6.5. Others
7. THAILAND ANIMAL FEED MARKET BY FORM
7.1. Introduction
7.2. Liquid
7.3. Dry
8. THAILAND ANIMAL FEED MARKET BY PRODUCTION SYSTEMS
8.1. Introduction
8.2. Integrated
8.3. Commercial Mills
9. THAILAND ANIMAL FEED MARKET BY SOURCE
9.1. Introduction
9.2. Organic
9.3. Conventional
10. THAILAND ANIMAL FEED MARKET BY RAW MATERIALS
10.1. Introduction
10.2. Cereals & Grains
10.2.1. Wheat
10.2.2. Maize
10.2.3. Barley
10.3. Oilseeds
10.3.1. Soybean
10.3.2. Rapeseed
10.3.3. Others
10.4. Pulses
10.5. Others
11. COMPETITIVE ENVIRONMENT AND ANALYSIS
11.1. Major Players and Strategy Analysis
11.2. Emerging Players and Market Lucrativeness
11.3. Mergers, Acquisitions, Agreements, and Collaborations
11.4. Vendor Competitiveness Matrix
12. COMPANY PROFILES
Companies Mentioned
- East Hope Group
- Kemin Industries Inc.
- Novus International
- BASF SE
- Novozymes
- Simplot Company
- Archer Daniels Midland Company
- Royal DSM N.V
- Charoen Pokphand Foods PCL
- Verde Tech
- Lee Pattana Product Public Company Ltd.
- Betag
For more information about this report visit https://www.researchandmarkets.com/r/z6tbm
