|By PR Newswire||
|October 24, 2012 08:51 PM EDT||
SINGAPORE, Oct. 24, 2012 /PRNewswire/ -- Rising consumption patterns on the back of growing incomes and a burgeoning middle class is expected to double the demand for food ingredients in Asia. The higher affordability of food, especially poultry, has particularly improved the prospects of the animal feed ingredients market. Acknowledging the escalating demand, feed ingredients suppliers are striving to increase the production of efficient, cost-effective, fortified animal feed ingredients.
New analysis from Frost & Sullivan (http://www.food.frost.com), Analysis of the Asia-Pacific Animal Feed Ingredients Market, finds that the market earned revenues of over $1.65 billion in 2011 and estimates this to reach $2.38 billion in 2018.
Many companies have set up base in Asia Pacific, bringing innovative products and technological advancements to developing markets. Their state-of-the-art capabilities enable them to offer customized, efficient, cost-effective solutions with superior nutritional benefits to farmers in the region.
"These global participants' best practices have raised the standards and practices of the industry," said Frost & Sullivan Industry Analyst Anjaneya Reddy. "However, with the outlook for the Asia Pacific economy still dim, feed suppliers have had to cut costs to maintain their customer base."
Farmers also prefer fresh feed over fortified or supplemented fodder for animals, as they have access to fresh feed across seasons. Additionally, farmers prefer alternatives to fortified food because their higher prices tend to shrink their already thin margins.
Concrete measures by the industry and the government to market the efficacy benefits of feed ingredients to farmers will boost adoption and expand the market.
"Suppliers must focus on creating awareness of the benefits of feed fortification, such as its ability to extend shelf-life, keep animals in good health, and provide quality products like meat and eggs," noted Reddy. "Organizations and various associations could also customize ingredients to suit the needs of the farmers, as well as take advantage of the safe image of various feed ingredients for branding purposes."
If you are interested in more information on this research, please send an email to Jessie Loh, Corporate Communications, at email@example.com, with your full name, company name, title, telephone number, company email address, company Web site, city, state and country.
Analysis of the Asia-Pacific Animal Feed Ingredients Market is part of the Food and Beverage Ingredients Growth Partnership Services program, which also includes research in the following markets: Strategic Analysis of the European Animal Feed Ingredients Market, Strategic Analysis of Animal Feed Ingredients Market in North America. All research services included in subscriptions provide detailed market opportunities and industry trends that have been evaluated following extensive interviews with market participants.
About Frost & Sullivan
Frost & Sullivan, the Growth Partnership Company, works in collaboration with clients to leverage visionary innovation that addresses the global challenges and related growth opportunities that will make or break today's market participants.
Our "Growth Partnership" supports clients by addressing these opportunities and incorporating two key elements driving visionary innovation: The Integrated Value Proposition and The Partnership Infrastructure.
- The Integrated Value Proposition provides support to our clients throughout all phases of their journey to visionary innovation including: research, analysis, strategy, vision, innovation and implementation.
- The Partnership Infrastructure is entirely unique as it constructs the foundation upon which visionary innovation becomes possible. This includes our 360 degree research, comprehensive industry coverage, career best practices as well as our global footprint of more than 40 offices.
For more than 50 years, we have been developing growth strategies for the global 1000, emerging businesses, the public sector and the investment community. Is your organization prepared for the next profound wave of industry convergence, disruptive technologies, increasing competitive intensity, Mega Trends, breakthrough best practices, changing customer dynamics and emerging economies?
Corporate Communications – Asia Pacific
P: +61 (02) 8247 8927
F: +61 (02) 9252 8066
Corporate Communications – Asia Pacific
P: +65 6890 0942
F: +65 6890 0988
SOURCE Frost & Sullivan