Market Forecast By Form (Pellets, Crumbles, Mash, Others), By Species (Poultry, Ruminants, Aqua, Swine, Others), By Type (Acidifiers, Probiotics, Enzyme, Antioxidants, Antibiotics, Vitamins, Minerals, Others) And Competitive Landscape
Product Code: ETC018465 | Publication Date: Nov 2023 | Updated Date: Apr 2024 | Product Type: Report | |
Publisher: 6Wresearch | No. of Pages: 70 | No. of Figures: 35 | No. of Tables: 5 | |
Thailand Animal Feed Market report thoroughly covers the market by form, by species, and by type. The market outlook report provides an unbiased and detailed analysis of the ongoing market trends, opportunities/high growth areas, and market drivers which would help the stakeholders to devise and align their market strategies according to the current and future market dynamics.
Thailand Animal Feed Market constitutes a significant part of its agricultural sector. It is one of the fastest-growing markets in the world, with promising growth prospects due to its strong export potential. The animal feed sector in Thailand is supported by a robust livestock industry, which is consistently expanding, driven by growing consumer demand for meat products.
According to 6Wresearch, the Thailand Animal Feed Market Size is likely to grow at a CAGR of 5.8% during the forecast period of 2024-2030. The Thai animal feed market is driven primarily by the growth in the country's livestock industry. The demand for protein-rich food, such as meat and dairy products, is on the rise due to an increase in the population and rising income levels. This growth in demand for meat and milk products has led to an increase in the demand for animal feed. Additionally, the government's initiatives to support animal husbandry and increase the productivity of animal products have fueled Thailand animal feed market growth further. One of the significant challenges faced by the Thailand animal feed market is the fluctuation of raw material prices. The prices of raw materials such as corn, soybean meal, and wheat fluctuate periodically, impacting the cost of animal feed production. This instability in raw material prices puts pressure on the manufacturers to maintain the profitability of their businesses. Therefore, feed manufacturers must constantly monitor the global commodity markets to predict any price volatilities and plan their procurement and production strategies accordingly. The Thailand animal feed market has been experiencing several trends, with the most crucial one being that of sustainable and organic feed. Consumers are becoming increasingly conscious about the quality of meat products they consume, exposing the reality of the poor quality of animal feed stocked with antibiotics and hormones. Therefore, there is a growing demand for organic and sustainable feed for farm animals. The Thailand animal feed market provides a plethora of opportunities for feed manufacturers to invest in research and development and come up with new and improved animal feed products. There is a growing trend of high-quality animal feed supplemented with probiotics, enzymes, and other nutritional additives that improve animal growth rates, immune function, and overall health.
The Thailand animal feed industry is expected to witness significant growth in the coming years due to the numerous government policies and schemes introduced to boost the sector. One of the significant policies introduced by the Thai government is the Agricultural Expansion Policy. This policy aims to increase animal production by providing better access to technology, improving animal genetics, and increasing feed formulation efficiency. This initiative has positively impacted the animal feed sector since efficient feed formulation is crucial for animal growth, and it ensures optimum production while also reducing feed costs. Another policy that has had a considerable impact on the animal feed sector is the Livestock Export Promotion Policy, which helps promote Thai animal products globally. This policy prioritizes exports through the implementation of sanitary and phytosanitary standards to ensure product quality and safety. This has helped increase the demand for animal feed, particularly in international markets, and brought attention to the quality of animal feed manufactured in Thailand.
Leading players in the Thailand Animal Feed Market include global manufacturers such as Charoen Pokphand Foods PLC (CPF) and Betagro, and local players like Thai Foods Group. CPF is the largest animal feed manufacturer in Thailand, with a total production capacity of ten million metric tons per annum.
By Form, pellets are considered the most popular form as they are easily digestible, save storage space, are easy to transport and come in standardized sizes that facilitate mixing with other ingredients. The crumbles form is also widely used in the market as they are suitable for small animals and are much easier to digest. While the mash and other forms are less common in the domestic market, certain poultry feed formulations are mixed with mash to increase their acceptability amongst birds. In terms of the only growing segment, pellets dominate the Thailand Animal Feed Market Share due to their popularity and ease of use.
According to Shivankar, Research Manager, 6Wresearch, poultry feed holds the largest share due to the growing population of chickens and ducks in Thailand. Ruminants such as cattle, buffaloes, goats, and sheep hold the second place and are primarily reared for meat and milk production. Aqua feed is primarily used for cultured fish farming in the aquaculture industry, while swine feed is used for rearing pigs.
The report offers a comprehensive study of the subsequent market segments:
1 Executive Summary |
2 Introduction |
2.1 Key Highlights of the Report |
2.2 Report Description |
2.3 Market Scope & Segmentation |
2.4 Research Methodology |
2.5 Assumptions |
3 Thailand Animal Feed Market Overview |
3.1 Thailand Country Macro Economic Indicators |
3.2 Thailand Animal Feed Market Revenues & Volume, 2020 & 2030F |
3.3 Thailand Animal Feed Market - Industry Life Cycle |
3.4 Thailand Animal Feed Market - Porter's Five Forces |
3.5 Thailand Animal Feed Market Revenues & Volume Share, By Form, 2023 & 2030F |
3.6 Thailand Animal Feed Market Revenues & Volume Share, By Species, 2023 & 2030F |
3.7 Thailand Animal Feed Market Revenues & Volume Share, By Type, 2023 & 2030F |
4 Thailand Animal Feed Market Dynamics |
4.1 Impact Analysis |
4.2 Market Drivers |
4.3 Market Restraints |
5 Thailand Animal Feed Market Trends |
6 Thailand Animal Feed Market, By Types |
6.1 Thailand Animal Feed Market, By Form |
6.1.1 Overview and Analysis |
6.1.2 Thailand Animal Feed Market Revenues & Volume, By Form, 2020 & 2030F |
6.1.3 Thailand Animal Feed Market Revenues & Volume, By Pellets, 2020 & 2030F |
6.1.4 Thailand Animal Feed Market Revenues & Volume, By Crumbles, 2020 & 2030F |
6.1.5 Thailand Animal Feed Market Revenues & Volume, By Mash, 2020 & 2030F |
6.1.6 Thailand Animal Feed Market Revenues & Volume, By Others, 2020 & 2030F |
6.2 Thailand Animal Feed Market, By Species |
6.2.1 Overview and Analysis |
6.2.2 Thailand Animal Feed Market Revenues & Volume, By Poultry, 2020 & 2030F |
6.2.3 Thailand Animal Feed Market Revenues & Volume, By Ruminants, 2020 & 2030F |
6.2.4 Thailand Animal Feed Market Revenues & Volume, By Aqua, 2020 & 2030F |
6.2.5 Thailand Animal Feed Market Revenues & Volume, By Swine, 2020 & 2030F |
6.2.6 Thailand Animal Feed Market Revenues & Volume, By Others, 2020 & 2030F |
6.3 Thailand Animal Feed Market, By Type |
6.3.1 Overview and Analysis |
6.3.2 Thailand Animal Feed Market Revenues & Volume, By Acidifiers, 2020 & 2030F |
6.3.3 Thailand Animal Feed Market Revenues & Volume, By Probiotics, 2020 & 2030F |
6.3.4 Thailand Animal Feed Market Revenues & Volume, By Enzyme, 2020 & 2030F |
6.3.5 Thailand Animal Feed Market Revenues & Volume, By Antioxidants, 2020 & 2030F |
6.3.6 Thailand Animal Feed Market Revenues & Volume, By Antibiotics, 2020 & 2030F |
6.3.7 Thailand Animal Feed Market Revenues & Volume, By Vitamins, 2020 & 2030F |
6.3.8 Thailand Animal Feed Market Revenues & Volume, By Others, 2020 & 2030F |
6.3.9 Thailand Animal Feed Market Revenues & Volume, By Others, 2020 & 2030F |
7 Thailand Animal Feed Market Import-Export Trade Statistics |
7.1 Thailand Animal Feed Market Export to Major Countries |
7.2 Thailand Animal Feed Market Imports from Major Countries |
8 Thailand Animal Feed Market Key Performance Indicators |
9 Thailand Animal Feed Market - Opportunity Assessment |
9.1 Thailand Animal Feed Market Opportunity Assessment, By Form, 2023 & 2030F |
9.2 Thailand Animal Feed Market Opportunity Assessment, By Species, 2023 & 2030F |
9.3 Thailand Animal Feed Market Opportunity Assessment, By Type, 2023 & 2030F |
10 Thailand Animal Feed Market - Competitive Landscape |
10.1 Thailand Animal Feed Market Revenue Share, By Companies, 2023 |
10.2 Thailand Animal Feed Market Competitive Benchmarking, By Operating and Technical Parameters |
11 Company Profiles |
12 Recommendations |
13 Disclaimer |
Market Forecast By Form (Pellets, Crumbles, Mash, Others), By Species (Poultry, Ruminants, Aqua, Swine, Others), By Type (Acidifiers, Probiotics, Enzyme, Antioxidants, Antibiotics, Vitamins, Minerals, Others) And Competitive Landscape
Product Code: ETC018465 | Publication Date: Oct 2020 | Product Type: Report | |
Publisher: 6Wresearch | No. of Pages: 70 | No. of Figures: 35 | No. of Tables: 5 |
Thailand Animal Feed Market is projected to grow over the coming year. Thailand Animal Feed Market report is a part of our periodical regional publication Asia Pacific Animal Feed Market outlook report. 6W tracks Animal Feed market for over 60 countries with individual country-wise market opportunity assessment and publishes with the report titled Global Animal Feed Market outlook report annually.
Thailand Animal Feed Market report thoroughly covers market by Form, species and type. The market report provides an unbiased and detailed analysis of the on-going market trends, opportunities/high growth areas and market drivers which would help the stakeholders to devise and align their market strategies according to the current and future market dynamics.
Thailand Animal Feed Market Synopsis
Thailand Animal Feed Market is anticipated to gain momentum during the forthcoming period on account of increasing disposable income. The rising standard of living is driving the demand for high quality animal product further leading to the growth of the market. Moreover, the growing consumption of meat and animal based products triggers the potential growth of the Animal Feed Market in Thailand. Increasing number of super markets, restaurant and multiplex are boosting the demand for meat further propelling the growth of animal feed market in Thailand.
According to 6Wresearch, Thailand Animal Feed Market size is projected to register growth during 2020-2026. The growing awareness among consumer regarding the health benefits of consumption of sea food is fueling the growth of the market. The rising disease among animals due to the consumption of stale food is shifting the market towards animal food. However, the suffered a setback due to the COVID-19 restriction on movement of farmers. The restricted movement led to the late arrival of raw material further led to the negative growth of the market. The nationwide lockdown led to the disruption in supply further hampering the development of the animal feed market.
Market Analysis by Species
On the basis of species, Poultry segment is anticipated to dominate the market during the upcoming period on account of the increasing popularity of chicken among Thai consumers.
Key Attractiveness of the Report
Key Highlights of the Report:
Market Segmentation:
The report provides a detailed analysis of the following market segments: