Asia-Pacific Ruminant Feed Market Size
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| Market Size (2024) | USD 223.32 Million |
| Market Size (2029) | USD 278.07 Million |
| CAGR (2024 - 2029) | 4.50 % |
| Market Concentration | High |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Asia-Pacific Ruminant Feed Market Analysis
The Asia-Pacific Ruminant Feed Market size is estimated at USD 213.70 million in 2023, and is expected to reach USD 266.10 million by 2028, growing at a CAGR of 4.5% during the forecast period (2023-2028).
The ruminant feed market is experiencing growth due to increasing demand for dairy products, rising preference for animal-based food, and heightened feed requirements across regions. Ruminant feed plays a crucial role in maintaining cattle health, thereby enhancing the quality of end products such as milk and meat.
According to the USDA, India's total cattle population increased from 306.7 million heads in 2022 to 307.5 million heads in 2023, driving up the demand for ruminant feed to provide high nutritional value for milk production. Furthermore, the Alltech Agri-Food Outlook 2024 reports that beef feed production rose from 15.78 million metric tons in 2022 to 16.08 million metric tons in 2023 in the Asia-Pacific region, representing a 2% growth. This increase reflects the significant expansion of the concentrate feed market in Asian countries. In China, the demand for ruminant animal feed is improving, supported by national government policies. The ruminant breeding market has shown progress, with a strong inclination towards expanding production capacity.
The ruminant population is anticipated to grow at a higher rate due to the changing dynamics of industrialization in the meat and milk industries. This trend is likely to drive the growth of the ruminant feed market over the forecast period.
Asia-Pacific Ruminant Feed Market Trends
Beef Cattle Dominates the Market
The livestock industry in Asia has experienced significant growth over the past few decades, becoming a crucial component of agricultural development. Large-scale ruminant production has emerged to meet the increasing demand for animal products, particularly beef and veal. Farm animals such as buffalo and cattle also play vital economic and social roles in Asian countries. Rapid economic growth has led to a substantial increase in the demand for ruminant meat protein across Asia. According to FAOSTAT, Asia's meat of cattle with bone production reached 15.7 million metric tons in 2022, representing a 2.6% increase from the previous year's volume of 15.3 million metric tons.
Recent decades have seen an uptick in beef consumption, driven by perceived health benefits and its role as a protein source. The OECD-FAO Agricultural Outlook Report 2023 projects that per capita beef consumption in the Asia-Pacific region will increase by 0.4 kg/year over the next decade (2023-2032). The Australian Bureau of Statistics reports that in 2023, red meat production increased by 3.8%. Specifically, cattle slaughtered in the June 2023 quarter rose by 0.9% to 1.7 million metric tons, while beef production in the same quarter increased by 1.9% to 534,207 metric tons. These trends are anticipated to further boost demand in the beef cattle segment of the market in coming years. Increasing awareness among cattle farmers about livestock nutritional requirements has led to high demand for ruminant feed in Asian countries. This trend aligns with the overall growth in ruminant production and consumption across the region.
China Dominates the Market
Ruminant feeding has become crucial in China, offering significant benefits to livestock producers. It enhances cattle's digestive efficiency through pH adjustment and metabolic changes while providing essential nutrients like amino acids and vitamins for optimal growth. At a broader level, population growth, rising per capita meat consumption, and the adoption of intensive farming practices are driving the demand for ruminant feed in the market.
The China Feed Industry Association (CFIA) reported that the country's industrial feed production reached 302.2 million metric tons in 2022, a 3% increase year-on-year. Feed mills increased corn usage in their rations by 30% compared to 2021. While wheat and barley use decreased, the utilization of sorghum, wheat bran, rice bran, and domestically produced DDGs saw significant growth in ruminant feeds. Notably, annual ruminant feed production rose by 9.3%, outpacing swine, and broiler feed growth, indicating potential market expansion in the coming years.
China is experiencing an increasing demand for beef, valued for its high-quality protein content. FAOSTAT data shows beef production in 2022 reached 7.2 million metric tons, up from 6.9 million metric tons in the previous year. This production increase reflects the growing beef demand in the country. In a significant development, the World Wild Fund for Nature (WWF) Beijing Office and the China Meat Association (CMA) launched the "China Sustainable Meat Supply Chain Promotion Plan" in May 2023. This initiative addresses key issues such as forest and land conversion, and greenhouse gas emissions, and provides tools and standards for the sustainable development of China's meat industry. Notably, the growing demand for beef and dairy products is anticipated to drive the ruminant feed market in China during the forecast period.
Asia-Pacific Ruminant Feed Industry Overview
The Asia-Pacific ruminant feed market is highly consolidated, with a few major players holding significant market share. Key companies operating in the region include Alltech Inc., Cargill Inc., Charoen Pokphand Foods, Archer Daniels Midland, and New Hope Group. These companies have primarily adopted strategies such as partnerships, new product launches, and manufacturing expansion investments to strengthen their market positions. Some players have focused on expanding their geographical presence through acquisitions or mergers with foreign manufacturers. Companies have also made substantial investments in their domestic markets to meet local demand. In the forecast period, investment is expected to be the preferred growth strategy, followed by mergers and acquisitions in the ruminant feed market.
Asia-Pacific Ruminant Feed Market Leaders
-
New Hope Group
-
Charoen Pokphand Foods
-
Alltech Inc.
-
Cargill Inc.
-
Archer Daniels Midland
*Disclaimer: Major Players sorted in no particular order
Asia-Pacific Ruminant Feed Market News
- September 2023: Cargill introduced a new dairy feed product, 'Milkgen 10000', in Maharashtra, India. This feed aims to enhance dairy farmers' profitability by increasing milk production and improving milk components, including fat content and solids-not-fat.
- May 2023: Japfa Vietnam expanded its ruminant feed mill and slaughterhouse in Bình Phước Province to enhance the livestock industry's efficiency and sustainability, as well as ensure a reliable supply of high-quality animal feed, including ruminant feed.
Asia-Pacific Ruminant Feed Market Report - Table of Contents
1. INTRODUCTION
1.1 Study Assumptions and Market Definition
1.2 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET DYNAMICS
4.1 Market Overview
4.2 Market Drivers
4.2.1 Surge In Meat Production And Huge Demand For Meat Protein
4.2.2 Increasing Focus On Animal Health And Nutrition
4.2.3 Growing Government Initiiatives
4.3 Market Restraints
4.3.1 Increasing Cost Of Raw Material
4.3.2 Growing Shift Toward Vegan-Based Diet
4.4 Porters 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 Substitutes
4.4.5 Intensity of Competitive Rivalry
5. MARKET SEGMENTATION
5.1 Animal Type
5.1.1 Dairy Cattle
5.1.2 Beef Cattle
5.1.3 Other Animal Types
5.2 Ingredients
5.2.1 Cereals
5.2.2 Cakes and Meals
5.2.3 Other Ingredients
5.3 Geography
5.3.1 China
5.3.2 India
5.3.3 Japan
5.3.4 Vietnam
5.3.5 Australia
5.3.6 Rest of Asia-Pacific
6. COMPETITIVE LANDSCAPE
6.1 Market Share Analysis
6.2 Most Adopted Strategies
6.3 Company Profiles
6.3.1 Cargill Inc.
6.3.2 Charoen Pokphand Foods
6.3.3 Alltech Inc.
6.3.4 Archer Daniels Midland
6.3.5 New Hope Group
6.3.6 Godrej Agrovet
6.3.7 Trouw Nutrition
6.3.8 Adisseo SAS
6.3.9 Elanco Animal Health
6.3.10 Evonik Industries
6.3.11 Japfa
7. MARKET OPPORTUNITIES AND FUTURE TRENDS
Asia-Pacific Ruminant Feed Industry Segmentation
Ruminant feed is a blend of concentrated feed ingredients formulated to optimize milk and meat production in cattle. Common components include brans, protein meals/cakes, chunnis, grains, agro-industrial by-products, minerals, and vitamins. The Asia-Pacific ruminant feed market is segmented by animal type (dairy cattle, beef cattle, and other animal types), ingredients (cereals, cakes and meals, and other ingredients), and geography (China, India, Japan, Vietnam, Australia, and Rest of Asia-Pacific). The report provides market estimations and forecasts in USD for these segments.
| Animal Type | |
| Dairy Cattle | |
| Beef Cattle | |
| Other Animal Types |
| Ingredients | |
| Cereals | |
| Cakes and Meals | |
| Other Ingredients |
| Geography | |
| China | |
| India | |
| Japan | |
| Vietnam | |
| Australia | |
| Rest of Asia-Pacific |
Asia-Pacific Ruminant Feed Market Research FAQs
How big is the Asia-Pacific Ruminant Feed Market?
The Asia-Pacific Ruminant Feed Market size is expected to reach USD 223.32 million in 2024 and grow at a CAGR of 4.5% to reach USD 278.07 million by 2029.
What is the current Asia-Pacific Ruminant Feed Market size?
In 2024, the Asia-Pacific Ruminant Feed Market size is expected to reach USD 223.32 million.
Who are the key players in Asia-Pacific Ruminant Feed Market?
New Hope Group, Charoen Pokphand Foods, Alltech Inc., Cargill Inc. and Archer Daniels Midland are the major companies operating in the Asia-Pacific Ruminant Feed Market.
What years does this Asia-Pacific Ruminant Feed Market cover, and what was the market size in 2023?
In 2023, the Asia-Pacific Ruminant Feed Market size was estimated at USD 213.27 million. The report covers the Asia-Pacific Ruminant Feed Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the Asia-Pacific Ruminant Feed Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.
Asia-Pacific Ruminant Feed Industry Report
Statistics for the 2024 Asia-Pacific Ruminant Feed market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. Asia-Pacific Ruminant Feed analysis includes a market forecast outlook to 2029 and historical overview. Get a sample of this industry analysis as a free report PDF download.
Asia-Pacific Ruminant Feed Market Report Snapshots
