Increasing pork production is expected to remain a major factor driving the global swine feed market over the forecast period. Swine feed accounts for 70%-80% of the total pork production cost and is going to further enhance the opportunities for market players. Feed additives are important in animal nutrition as they increase digestibility and palatability of the feed. Commonly used feed additives in pork diet are antimicrobials, emulsifiers, antioxidants and enzymes. Growing importance for quality pork meat is expected to drive swine feed demand. Swine feed is a determining factor in profitability of pork production. Increased pork production will help uplift the pork industry. Rising pork trade and food safety demand is further expected to augment the market. Pork is a prominent choice of meat worldwide and is expected to benefit the swine feed market significantly. Increasing swine feed prices has been a concern as it reduces the profitability of the pork producers. The above stated factor is expected to challenge the swine feed market.
Asia Pacific region is characterized with high production and consumption of swine feed. It is expected to lead the global swine feed market owing to high swine feed demand in China and Southeast Asian markets such as Vietnam, Thailand and Philippines. The above mentioned markets are major pork consumers. China accounts for 50% of the world pork production and is expected to witness high demand for swine feed which in turn is expected to have a positive impact on the Asia Pacific market. Australia, New Zealand and North Korea also import large quantities of pork and is expected to impact the market positively. North America is expected to follow Asia Pacific in terms of market share and production of pork. North America is the largest pork exporter and is expected to register high swine feed demand over the forecast period. European market is expected to witness considerable growth over the forecast period on account of increasing pork consumption coupled with stringent regulations regarding meat production.
Global swine feed market is highly concentrated. Some key players involved in the market are Royal DSM N.V, Cargill Inc., Lallemand Inc., BASF, Altech Inc., ADM, Charoen Popkhand Foods, ABF Plc, Hansen Holdings.
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