BURNABY, Canada, January 20, 2015 /PRNewswire/ --
Rising meat consumption coupled with growing demand for milk and dairy products is driving Chinese animal feed market
China animal feed market is growing rapidly due to increasing demand for meat and meat products, especially pork. Over the last decade, the country's animal feed industry has been witnessing increasing consolidation, with the animal feed demand being catered by around 15,518 feed mills in 2005 and the number having declined to 10,843 in 2010. Nevertheless, the overall production capacity is anticipated to grow steadily over the forecast period. The country's animal feed market continues to be highly dependent on the prices of raw materials such as wheat, corn and soybean.
According to a recently published report by TechSci Research "China Animal Feed Market Forecast & Opportunities, 2019", the China animal feed market is projected to register a CAGR of more than 16% during 2014-19, in value terms. Growing demand for processed meat and protein diet due to rise in household income levels would continue to drive the demand for animal feed from various livestock and poultry farms. Swine feed segment is expected to maintain its dominance, while region wise, South China would be the leading revenue generator over the next five years.
"Continuing rise in the production cost of feed is making the companies to increase focus on enhancing their efficiency in feed production. This has resulted in various technological advancements to produce better feed at lower costs over the last decade. Various companies have also been looking for raw material substitutes that are relatively cheap. However, over the course of next decade, food safety issues are expected to take the center stage and significantly change the feed formulation process in the country.", said Mr.Karan Chechi, Research Director with TechSci Research, a research based global management consulting firm.
"China Animal Feed Market Forecast & Opportunities, 2019" has evaluated the future growth potential of China's animal feed market and provides statistics and information on market structure and consumer behavior trends. The report includes animal feed projections and demand forecasting. The report is intended to provide cutting-edge market intelligence and help decision makers take sound investment evaluation. Besides, the report also identifies and analyzes the emerging trends along with essential drivers, challenges and opportunities inanimal feed market in China.
About TechSci Research
TechSci Research is a global market research and consulting company with offices in Canada, UK and India. TechSci Research provides market research consulting services in six verticals - Information Technology, Chemicals, Water & Water Recycling, Consumer Goods & Retail, Automotive and Energy & Power. The company uses proprietary innovative business model that focuses on improved productivity that also ensure the creation of high-quality reports. With more than 100 client engagements with fortune 500 clients, TechSci Research enjoys the status of a premium market research services provider in the industry.
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SOURCE TechSci Research