Market Trends of Asia Pacific Feed Yeast Industry
This section covers the major market trends shaping the APAC Feed Yeast Market according to our research experts:
Increased Production of Compound Feed
According to the AllTech feed survey in the year 2019, The Asia pacific compound feed industry has approx 6,986 production sites, often in rural areas, which offer few other employment opportunities in the region. There has been increased emphasis on industrialization of livestock production in the Asia-Pacific region, as a result of the increasing demand for meat and meat products. There has also been increased awareness among farmers about providing optimum nutrition to farm animals. This has led to an increased usage of feed additives such as yeast for improving the productivity and health of animals. China is the largest producer of feed yeast in the region with an average annual production of 168 metric tons in 2019 as per the statistics provided by Alltech. Considering the large production base and the increased application in young animal diets, China's Ministry of Agriculture has changed the nomenclature of feed yeast as a "feedstuff" from the earlier designated nomenclature of "feed additive". With increased R&D expenditure by companies and governments, the market for feed yeast is expected to grow at a robust pace in the Asia-Pacific region, over the forecast period.
Increased Consumption of Meat and Meat Products
The rise in population, increase in disposable incomes and rapid growth of urbanization in Asia-Pacific has spurred the growth of animal protein food. The demand for high-quality meat and milk has led to increased consumption of compound feed in the region. Apart from feed amino acids, enzymes, prebiotics, and others, feed yeast is also on-demand, due to its functional properties such as balancing pH and enhancing fiber digestion. Due to the rise in the high demand for animal meat, Asian farmers are adopting various techniques in the production of livestock such as shifting towards shorter-cycle species (pig and poultry), accelerating production cycles, and increasing livestock numbers. Apart from poultry and cattle, aquaculture is also growing as a rich source of proteins. Increasing awareness of consumers on animal protein is driving the feed yeast market. The rising demand for animal meat and dairy products is expected to boost the production of compound feed in the region, thereby acting as a catalyst for the feed yeast market during the forecast period.
