Vietnam Animal Feed Additives Market Growth & Trends
The Vietnam animal feed additives market size is expected to reach USD 816.4 million by 2025, as per a new report by Grand View Research Inc. expanding at a CAGR of 3.7% over the forecast period. Factors such as the easing of FDI norms and evolving trade agreements with partnering nations (ASEAN) in Vietnam are expected to provide investment opportunities to overseas animal feed additive producers
The consumption of animal feed additives in poultry feed is expected to provide significant growth opportunities to the market participants. Unlike other Southeast Asian countries where poultry consumption is dominant, Vietnam meat consumption has traditionally been dependent on pork along with poultry consumption at 5 kg per capita. However, changing lifestyle and growing processed food industry are expected to drive meat consumption shift towards white meat products such as poultry and fish.
Vietnam animal feed additives market is equally shared by domestic and multinational players. Foreign industry players are expected to dominate the Vietnam animal feed additives market over the forecast period on account of price competition and heavy investments by these players.
Foreign industry players are expected to dominate the Vietnam animal feed additives market over the forecast period on account of price competition and heavy investments by these players. In addition, foreign companies are investing in R&D activities and in contract farming for gaining maximum profit in the long run.
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Vietnam Animal Feed Additives Market Report Highlights
- In October 2017, Olmix opened its first animal feed additive production site in Vietnam in order to enter into Asian and gain foothold in the market, which has upheld the prominence of the company
- Changing lifestyle and growing processed food industry are expected to drive meat consumption shift towards white meat products such as poultry and fish, which is eventually driving the growth of the Vietnam animal feed additives market
- Unlike other Southeast Asian nations where poultry consumption is dominant, Vietnam meat consumption has traditionally been dependent on pork, with poultry consumption at mere 5kg per capita
- There is a high degree of forward integration by antibiotic, vitamin, and feed acidifier manufacturers to further develop the feed additives and enables raw material suppliers to operate in diverse markets and increase their scope of business
- Major end-use industries of animal feed additives include Audirect, Bigt, Natatechco Ltd., and Zesfa International Co., Ltd., as they indulge in pork, poultry, cattle, and aquafeed businesses
Vietnam Animal Feed Additives Market Segmentation
Grand View Research has segmented the Vietnam Animal Feed Additives market on the basis of product and application:
Vietnam Animal Feed Additives Product Outlook (Volume, Kilotons; Revenue, USD Million; 2014 - 2025)
- Antibiotics
- Vitamins
- Antioxidants
- Amino Acids
- Feed Enzymes
- Feed Acidifiers
- Others
Vietnam Animal Feed Additives Application Outlook (Volume, Kilotons; Revenue, USD Million; 2014 - 2025)
- Pork/Swine
- Poultry
- Cattle
- Aquaculture
- Others
About Grand View Research
Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and healthcare.
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