Indonesia Feed Additives Market Share, Revenue, Trends Analysis, Growth Drivers, Challenges, Future Opportunities and Future Scope 2033: SPER Market Research
Animal feed plays a critical part in the global food supply chain by maintaining the health, growth, and productivity of animals. Animal feed is made from a variety of substances, such as vitamins, minerals, and oilseeds, and is designed to satisfy the unique dietary needs of various animals. This tailored feed guarantees healthy growth, productive reproduction, and resilience to disease in cattle, increasing the amount and quality of meat, dairy, and other products obtained from animals that are fit for human consumption. Improvements in feed formulation technology have made it possible to create balanced meals that meet the specific requirements of different animals, leading to an overall improvement in their quality of life.
According to SPER market research, ‘Indonesia Animal Feed Market Size- By Type, By Livestock, By Source, By Production Systems, By Form, By Raw Material- Regional Outlook, Competitive Strategies and Segment Forecast to 2033’ state that the Indonesia Animal Feed Market is predicted to reach 13.54 billion by 2033 with a CAGR of 5.01%.
The increasing demand for items derived from animals is a major factor driving the market’s expansion. Demand for meat, eggs, and dairy products is rising in tandem with the country’s population’s increasing prosperity and urbanization. The livestock business is under tremendous strain as a result of this growing demand, which calls for a corresponding rise in the production of premium animal feed. Moreover, the growing market is driven by consumers’ choice for organic alternatives to conventional poultry products. Customers are choosing naturally produced and organic meat and eggs as they become more conscious of their health and the sustainability of the environment. This changing desire calls for a change in cattle farming practices, with a focus on using organic animal feed. Farmers are now using organic farming methods in response to the growing demand for organic poultry products, necessitating the use of specialized animal feed that complies with strict organic regulations.
The cost of essential raw materials including cereals, oilseeds, and protein meals has an impact on the animal feed market. Commodity price fluctuations can hinder market expansion and have an effect on feed makers’ profitability. The livestock business has also drawn criticism for its effects on the environment, mainly with regard to water use and greenhouse gas emissions. Growing environmental concerns could result in legislative limitations and hinder the expansion of the animal feed industry. Furthermore, the livestock industry is exposed to serious hazards from animal illness outbreaks. The demand for animal feed may be impacted by disease outbreaks that cause livestock losses, decreased productivity, and higher expenses for disease control efforts.
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Impact of COVID-19 on Indonesia Animal Feed Market
The COVID-19 epidemic has hurt the chicken meat export industry’s projections, which has decreased consumer demand for animal protein. The demand for protein has been further suppressed by the closure of food and beverage outlets, particularly food services, as well as by a decline in travel and tourism. Global trade has been impacted by shipping disruptions as well, leading to bottlenecks at ports and a scarcity of containers. Following the identification of COVID-19 cases in Indonesia, the government has put in place a number of measures to slow the virus’s transmission, such as travel bans, social distance, and the banning of mass gatherings.
Indonesia Animal Feed Market Key Players:
Asia Pacific held the largest market share in 2022 and is expected to continue to lead the market during the forecast period. A number of factors, such as the rising demand for dairy and meat products, the region’s increasing population and urbanization, and the expansion of the animal husbandry industry in many nations, have all contributed to the market’s growth. Significant competitors in the market also include Novozymes, BASF SE, East Hope Group, Kemin Industries, Inc., and Archer Daniels Midland Company.
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Indonesia Animal Feed Market Size
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