Market Trends of feed amino acids Industry
High demand for animal protein and poultry products such as eggs with increasing investment in poultry sector is increasing poultry population
- The poultry population witnessed a significant increase in recent years, primarily due to the growing demand for chicken meat and eggs in daily diets. The shift toward poultry products has been driven by the increasing prices of other meat, such as pork, in the United States. For instance, the consumption of eggs in Europe increased by 4.6% between 2017 and 2021, accounting for 6,135 metric tons in 2021.
- Asia-Pacific is the largest producer of poultry birds, with an increase in production by 6.6% in 2022 compared to 2017. The rise in poultry production is due to the growing demand for animal protein following the outbreak of African Swine Fever, which reduced the pork meat supply. In China, which accounts for 40% of global production, the country has more than 900 million stock-laying hens, and the most prominent layer poultry farming center can hatch 60 million chicks per year.
- The Middle Eastern region is also expected to witness growth in poultry production during the forecasted period. Companies such as Almarai in Saudi Arabia invested heavily in the sector, with USD 1.12 billion spent on establishing new farms to expand production.
- The increasing demand for poultry products, coupled with rising investments in the poultry sector, is expected to strengthen feed production growth. This, in turn, is expected to drive the demand for feed additives in the global market during the forecasted period. Overall, the poultry industry is poised for significant growth in the coming years, driven by the shift toward poultry products and improved investments in the sector.
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The growing demand for seafood consumption in Asia-Pacific and South America, and government initiatives is increasing the feed production for aquaculture species
- The demand for feed is rapidly increasing due to the expansion of aquaculture, which is driving the growth of compound feed production. In 2022, compound feed production increased by 13.1% from the previous year, and fish feed production increased by 46.3% between 2017 and 2022. The rise in consumption of fish feed is driven by the need to maintain and improve the performance of aquatic animals and increase productivity to meet the growing demand for seafood.
- Fish feed accounted for 73.2% of the global market in 2022, as fish is highly consumed and produced in the Asia-Pacific region. Shrimp and other aquatic species follow fish in the global market, with shrimp being highly imported by countries in the European region and the United States. Countries are focusing on expanding aquaculture production to meet the growing demand for seafood. For instance, India increased its budget allocation to the department of fisheries from USD 114.1 million in 2020 to USD 168.8 million in 2021 to increase production, which is expected to boost the demand for feed during the forecast period.
- South America also experienced an increase in feed production, which rose by 46.4% in 2022 from 2017 to reach 5.1 million metric tons due to the expansion of aquaculture farming. The region is one of the major consumers of seafood. Thus, the increasing demand for seafood is driving the growth of aquaculture production.
- As aquaculture continues to develop to supply the demand, the development of the industry and a focus on its expansion are expected to fuel the growth of feed production. This increase in feed production for aquatic species is expected to aid in the growth of the aquatic segment during the forecast period.
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OTHER KEY INDUSTRY TRENDS COVERED IN THE REPORT
- Increased consumption of beef meat, growing food and beverage sector, and increasing number of farms are driving the global ruminants production
- Poultry feed production is increasing owing to high demand for poultry meat and increasing investments in emerging countries such as India and Saudi Arabia
- Asia-Pacific is largest producer of swine feed with high per capita consumption of pork meat and African Swine Fever (ASF) impacted the swine industries in Europe and Africa
- Swine population is increasing due to high pork consumption with Asia-Pacific and Europe being the significant producers of pork
- High demand for ruminants feed in Asia-Pacific and North America with the United States exported 80% of beef production and emergence of new milk providers in India
