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APAC Feed Phosphate Market revenue to cross $2.5 bn by 2028
Published Date: 2022-09-05
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APAC Feed Phosphate Market size is poised to reach USD 2.5 billion by 2028, according to a latest forecast report by Graphical Research.
Growing preference for meat and meat products across Thailand, India, Malaysia, and the Philippines will foster the market demand. While the consumption of pork and pork products have increased due to rising disposable incomes, chicken and poultry products are likely to register a stable growth in terms of sales. Regional governments are focusing on self-sufficiency to minimize dependence on imports.
As these ingredients enhance the quality of feed by adding to the nutritional value of animal feed when used in commercial formulations, fish farmers, livestock owners, and other end-users have been relying on them. The animal feed additives sector in Asia Pacific will see an upward curve due to the multiple product benefits such as buffer capacity, osmotic pressure, and acid-base balance offered by phosphates. The poultry industry in APAC is seeing a steady rise despite the outbreaks of the highly pathogenic avian influenza between November 2020 and March 2021.
According to the Livestock Statistics published by Japan’s Ministry of Agriculture, Forestry and Fisheries (MAFF), the average number of broiler products shipped annually rose by 2% between 2019 and 2021 in the country. Consistent rise in packaged food consumption and the robust trend for fast-food in the region will augment poultry production. Feed phosphate products can help to enhance overall output quality and volume for poultry farms.
The dicalcium phosphate segment will surpass USD 1 billion by 2028. Since these substances aid in strengthening animal bone structure as well as accelerating growth, the use of dicalcium phosphate (DCP) in poultry feed is increasing across countries such as India, Malaysia, and Japan. The regional governments have announced several policy measures for exporting poultry products to neighboring countries. In August 2022, for instance, Malaysia’s Minister of Agriculture and Food Industries announced that it will lift the export ban on chicken as it is in oversupply.
Browse detailed statistical insights from the report, “Asia Pacific Feed Phosphate Market Forecast 2028 By Livestock (Poultry, Cattle, Aquaculture, Swine, Pet), By Product (Monocalcium Diphosphate, Tricalcium Diphosphate, Dicalcium Phosphate, Ammonium Phosphate, Defluorinated Phosphate), Research Report, Country Outlook (China, Japan, India, South Korea, Australia, Thailand, Malaysia), COVID-19 Impact Statistics, Price Trends, Historic Data, Growth Prospects, Competitive Industry Share” along with the table of contents (ToC) @
The aquaculture segment will record a CAGR of 5.5% till 2028. Since inorganic feed phosphates offer advantages such as higher digestibility and higher solubility, the product demand is rising across fisheries. Favorable geographical factors, such as substantial number of rivers, canals, fishponds, reservoirs, and swamps, will ensure that the industry share from aquaculture applications in APAC continues to increase.
Feed phosphate demand in Thailand from aquaculture segment is anticipated to grow at a noteworthy pace over the next few years, thanks to the thriving fishing industry in the region. According to the NGO Ethical Trading Initiative (ETI), the nation’s total seafood export value exceeds USD 6.9 billion. As the regional authorities focus on improving their fisheries production, feed phosphate uses for cultured species of lobster, catfish, and tilapia.
The APAC feed phosphate market research report includes in-depth coverage of the industry with estimates & forecast in terms of volume in million tons and revenue in USD million from 2017 to 2028 for the following segments:
Asia Pacific Market, By Product
- Monocalcium Phosphate
- Tricalcium Phosphate
- Dicalcium Phosphate
- Ammonium Phosphate
- Defluorinated Phosphate
Asia Pacific Market, By Livestock
The above information has been provided for the following countries:
- Asia Pacific
- South Korea