(MENAFN Press) The continuously rising consumption of animal protein will further supplement the requirement for animal feed in China
Animal products such as meat, milk and eggs are an expensive source of food as compared to stable crops. Due to this, the consumption of animal protein in the developing nations is well below the world average. However, the transition in the economies of these countries has lead to growth in disposable income, purchasing power and the consequential rise in demand for animal protein. Food consumption level is now considered a clear indicator of the size of a country's population and the health of its economy. China is by far the best example to highlight the validity of this point.
China continues to develop and is rapidly becoming a stronger economy. The sophistication and rising standard of living of the population has resulted in a change in dietary patterns. China is the world's largest consumer of meat and is nearly self sufficient in meeting its requirements. Livestock production has been growing faster than any other agricultural sub-sector in China in recent decades, mainly due to the substantial growth of pig and poultry industries. To support its large number of livestock, the country requires animal feed in quantity and quality. This is the most important reason behind the growth of the animal feed industry in China
The 6 broad categories of animal species for which feed is specifically manufactured in China are pig, boiler poultry, layer poultry, aquatic animals, ruminant and feed for other animals such as horses and pets. Since China is the largest market in the world for pork, pig feed is the major segment within animal feed in the country. Furthermore, the consumption of chicken is increasing rapidly, thereby amplifying demand for boiler poultry
However, feed for aquatic species is the fastest growing segment owing to the booming aquaculture sector in China
"Due to the development of China's economy, the population is increasingly being able to afford animal protein and is constantly adding the same to their diets. Subsequently, animal feed is required both in quantity and in quality to support the livestock in the country."“ according to the research report 'China Animal Feed Industry Review to 2018- Thriving Aquaculture Sector to Accelerate Growth' by Ken Research.
The report provides detailed overview on compound feed, concentrate feed and premixes and additives, in addition to feed for specific animal species in China and helps readers in identifying the ongoing trends in the key segments of the industry and anticipated growth in future depending upon changing industry dynamics in coming years. The report will aid industry consultants, animal feed companies, marketing companies and other stakeholders to align their market centric strategies according to ongoing and expected trends in future
Contact Person: Ankur Gupt