(Australia-NewsWire.Com, December 27, 2017 ) The Asia-Pacific Swine (Pig) Feed Market was worth $ 0.88 billion in 2016 and estimated to be growing at a CAGR of 7.29 %, to reach $ 1.24 billion by 2021. Pigs are farmed in many countries over the globe but most of the consumption is from Asian countries. Mainly this is due to the intercontinental and international trade in live and slaughtered pigs. In 2016, Asia-Pacific was the largest consumer in the swine feed additives market, consuming 43% of the total market. Even though china having the world's largest pig population, China is a net importer of pigs, and has been increasing its imports during its economic development of the country.
The rise in pork production and increasing certainties related to the quality of pork meat is driving the growth of the global swine feed market. The growing pig population is also injecting huge growth scope in swine feed market. In 2013, about 978 million pigs were present across the world, and these numbers are expected to cross 1.5 billion by the end of 2022. Out of 978 million pigs, around 485 million pigs are present in China, which accounts to about 50 percent of total world pig population.
In Asia-Pacific region, China is dominating over 80% of the Asia-Pacific swine feed market and over 39% of the Global swine feed market. The factors driving for the large Asia-Pacific market is rise in population, High return on investment and growing demand for pork meat, many corporate companys investment in the market and developing economies of the countries. However, occurrence of pathogenic diseases in the pork meat is hindering the growth of the global swine feed market. There are some challenges such as instability in feed prices which are expected to hamper the growth in the global swine feed market. The instability of price is influenced by fluctuation in the price of raw material and scarcity of raw material in the region.
Swine (Pig) Feed Market is categorised by Type, Additive and by Region. On the basis of Type, swine feed market is further segmented into Pig Starter feed, Grower feed, Sow feed and Others. On the basis of the feed additive types, the market is classified into Zootechnical feed additives, Sensory feed additives and Nutritional feed additives. Moreover, the market is also segmented on the basis of the feed essence, like Vitamins, Antioxidants, Antibiotics, Feed acidifiers, Feed enzymes, Amino acids and Others.
Asia-Pacific Swine (Pig) Feed Market Geographical Analysis China India Japan South Korea Australia
Asia Pacific is one of the most lucrative markets for the growth of swine feed market and it is projected to grow the highest during the forecast period. Factors such as growing demographics and emerging economies in countries such as India and China are anticipated to lead the growth of the market in this region. Asia-Pacific was the largest consumer in the swine feed additives market in 2016, consuming 43% of the total market. Despite having the world's largest pig population, China is a net importer of pigs, and has been increasing its imports during its economic development. Asia-pacific market was growing with a CAGR of 7.29% and market share of 16 % over the global market.
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