Market Trends of australia feed additives Industry
The steady increase in the consumption of eggs and poultry industry is witnessing increase in export demand which is increasing the poultry production
- The Australian poultry market is currently experiencing a surge in demand due to its position as the most consumed meat in the country. In 2020, poultry meat production in Australia amounted to 1.2 million tons, valued at USD 2.9 billion. This represented an increase of 2.8% from the previous year, with production increasing by 10.1% between 2017 and 2022 to meet rising demand.
- Despite this growth, the Australian poultry industry faced challenges in 2020 due to the impact of diseases like Avian influenza on farming. However, the industry remained resilient and continued to expand to meet the rising demand. In 2022, per capita consumption of poultry meat reached 44.50 kg, up from 43.35 kg in 2017, indicating a steady increase in demand.
- The consumption of poultry eggs has also been on the rise in Australia, and the per capita consumption grew to 249 eggs in 2021, an increase of 7.8% compared to 2017. As a result, egg production in the country rose to 6.3 billion eggs in 2021, up from 5.521 billion eggs. This trend is expected to continue, with layer production projected to increase in the coming years to meet demand.
- The growth of poultry production in Australia is not limited to the domestic market, as the industry is also experiencing increasing export demand. In 2020, the total value of poultry exports reached USD 85 million, representing a 30% increase from the previous year, with Papua New Guinea as the largest export market in terms of volume and value. As a profitable sector, poultry farming is becoming increasingly popular among Australian farmers, with many shifting toward it to drive growth.
Understand The Key Trends Shaping This Market
Download PDF
Seafood consumption has been increasing which is increased fish production and the companies are increasing aqua feed production to meet the increased demand for feed consumption
- The aquaculture industry has been experiencing a steady growth within the Australian seafood sector. From 2002 to 2022, aquatic feed production increased by 53.2%, reaching 0.2 million metric tons. This growth was attributed to the rising demand for aquatic feed due to increased aquaculture production in the country. In 2022, aquaculture production in Australia surged by 13.7%, reaching 1.7 million metric tons.
- Fish feed production accounted for the largest share of the total aquaculture feed production in 2022, representing 57.9%. This production increased by 5% compared to the previous year, mainly due to the growing seafood consumption. As a result, producers are focusing on improving performance and increasing feed efficiency. Seafood consumption in Australia also increased to 14.5 kg per person during 2020-21 from 13.5 kg per person during 2019-20. Similarly, shrimp feed production increased by 27.5% from 2020 to 2022, driven by the growing shrimp production and expansion of shrimp aquaculture farming.
- As seafood forms a significant part of the Australian diet, the stress on producers is increasing tremendously to meet the growing demand for a nutritional diet, given the rising population. During 2020-21, exports of aquaculture products accounted for USD 2.14 billion, highlighting the critical role that the industry plays in the country's economy. Consequently, compound feed production is expected to increase to improve productivity and produce a quality product. Feed production is projected to increase from 183.6 thousand metric tons in 2023 to 195.7 thousand metric tons by 2029. This increase in feed production is expected to support the growth of the aquaculture industry and meet the increasing demand for seafood domestically and internationally.
Understand The Key Trends Shaping This Market
Download PDF
OTHER KEY INDUSTRY TRENDS COVERED IN THE REPORT
- Dairy industry is Australia's 3rd largest industry with cattle and buffalo production increased by 4.4% from 2021 to 2022 and is further increasing due to high demand for exporting meat and domestic consumption
- Increasing demand for chicken consumption in the country and international market has increased the poultry production. To meet the increased demand for poultry feed, the companies are increasing the poultry feed production
- Swine feed production is increasing to meet the demand for increased feed demand for the segment as there is an increase in consumption demand for pork as well as companies manufacturing premium compound feeds
- African Swine Fever (ASF) effected the swine production but it is increasing from 2020 due to high growth for pork meat products and increasing international trade
- Dairy cattle feed is one of the leading feed consumed due to high demand for dairy products and it has helped in increasing the demand for dairy cattle feed
