The latest report by IMARC, titled “Asia Pacific Swine Feed Market: Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027”, finds that the Asia-Pacific swine feed market size reached US$ 48, 672 Million in 2021. Swine feed refers to a variety of processed, semi-processed, and raw food items for pigs that are prepared by combining numerous essential nutrients. It helps to maintain the well-being and health of pigs. The most common raw materials used in swine feed production are soybean, natural corn, and wheat-based ingredients. In recent years, swine feed has gained popularity among farmers in the Asia-Pacific region to promote growth and acid resistance in pigs and increase pork quality.
Asia-Pacific Swine Feed Market Trends:
One of the primary factors driving the market is the increasing consumption of pork in various countries, including Vietnam, China, Thailand, and the Philippines. Additionally, the rising awareness among farmers about the importance of maintaining a healthy pig diet is creating a positive market outlook. Other than this, the significant shift from regular swine feed to functional and premium variants is positively influencing the market growth. Besides this, swine feed protects the pigs against enzootic diseases and reduces the risk of metabolic disorders, injuries, infections, and acidosis. Besides this, the demand for organic pig meat from consumers is constantly rising, thereby propelling the market growth. Furthermore, the introduction of new animal-rearing practices and the maintenance of high farming standards is creating lucrative growth opportunities for key players operating in the industry. Moreover, the rising awareness about the nutritional benefits of swine feed among small-scale pig farmers has led to a rise in the number of swine feed mills, especially in nations like Japan and India. On account of these factors, IMARC Group expects the market value to reach US$ 59,163 Million by 2027, expanding at a CAGR of 3.3% during the forecast period (2022-2027).
- Based on the product type, the market has been divided into grower, starter, sow, and others.
- On the basis of the feed essence, the market has been segregated into vitamins, antioxidants, feed acidifiers, feed enzymes, amino acids, and others.
- Based on the feed additive type, the market has been segmented into zootechnical feed additives, sensory feed additives, and nutritional feed additives.
- Country-wise, the market has been classified into China, Japan, India, South Korea, Australia, Indonesia, and others.
- The competitive landscape of the market has also been analyzed, along with detailed profiles of the key players operating in the industry.
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