Thailand Animal Feed Market (2024-2030) | Industry, Forecast, Value, Growth, Trends, Share, Outlook, Companies, Analysis, Size & Revenue

Topics Covered in the Thailand Animal Feed Market

Thailand Animal Feed Market report thoroughly covers the market by form, by species, and by type. The market outlook report provides an unbiased and detailed analysis of the ongoing market trends, opportunities/high growth areas, and market drivers which would help the stakeholders to devise and align their market strategies according to the current and future market dynamics.

Thailand Animal Feed Market Synopsis

Thailand Animal Feed Market constitutes a significant part of its agricultural sector. It is one of the fastest-growing markets in the world, with promising growth prospects due to its strong export potential. The animal feed sector in Thailand is supported by a robust livestock industry, which is consistently expanding, driven by growing consumer demand for meat products.

According to 6Wresearch, the Thailand Animal Feed Market Size is likely to grow at a CAGR of 5.8% during the forecast period of 2024-2030. The Thai animal feed market is driven primarily by the growth in the country's livestock industry. The demand for protein-rich food, such as meat and dairy products, is on the rise due to an increase in the population and rising income levels. This growth in demand for meat and milk products has led to an increase in the demand for animal feed. Additionally, the government's initiatives to support animal husbandry and increase the productivity of animal products have fueled Thailand animal feed market growth further. One of the significant challenges faced by the Thailand animal feed market is the fluctuation of raw material prices. The prices of raw materials such as corn, soybean meal, and wheat fluctuate periodically, impacting the cost of animal feed production. This instability in raw material prices puts pressure on the manufacturers to maintain the profitability of their businesses. Therefore, feed manufacturers must constantly monitor the global commodity markets to predict any price volatilities and plan their procurement and production strategies accordingly. The Thailand animal feed market has been experiencing several trends, with the most crucial one being that of sustainable and organic feed. Consumers are becoming increasingly conscious about the quality of meat products they consume, exposing the reality of the poor quality of animal feed stocked with antibiotics and hormones. Therefore, there is a growing demand for organic and sustainable feed for farm animals. The Thailand animal feed market provides a plethora of opportunities for feed manufacturers to invest in research and development and come up with new and improved animal feed products. There is a growing trend of high-quality animal feed supplemented with probiotics, enzymes, and other nutritional additives that improve animal growth rates, immune function, and overall health.

Government policies and schemes introduced in the Thailand Animal Feed Market

The Thailand animal feed industry is expected to witness significant growth in the coming years due to the numerous government policies and schemes introduced to boost the sector. One of the significant policies introduced by the Thai government is the Agricultural Expansion Policy. This policy aims to increase animal production by providing better access to technology, improving animal genetics, and increasing feed formulation efficiency. This initiative has positively impacted the animal feed sector since efficient feed formulation is crucial for animal growth, and it ensures optimum production while also reducing feed costs. Another policy that has had a considerable impact on the animal feed sector is the Livestock Export Promotion Policy, which helps promote Thai animal products globally. This policy prioritizes exports through the implementation of sanitary and phytosanitary standards to ensure product quality and safety. This has helped increase the demand for animal feed, particularly in international markets, and brought attention to the quality of animal feed manufactured in Thailand.

Leading players in the Thailand Animal Feed Market

Leading players in the Thailand Animal Feed Market include global manufacturers such as Charoen Pokphand Foods PLC (CPF) and Betagro, and local players like Thai Foods Group. CPF is the largest animal feed manufacturer in Thailand, with a total production capacity of ten million metric tons per annum.

Market analysis by Form

By Form, pellets are considered the most popular form as they are easily digestible, save storage space, are easy to transport and come in standardized sizes that facilitate mixing with other ingredients. The crumbles form is also widely used in the market as they are suitable for small animals and are much easier to digest. While the mash and other forms are less common in the domestic market, certain poultry feed formulations are mixed with mash to increase their acceptability amongst birds. In terms of the only growing segment, pellets dominate the Thailand Animal Feed Market Share due to their popularity and ease of use.

Market Analysis by Species

According to Shivankar, Research Manager, 6Wresearch, poultry feed holds the largest share due to the growing population of chickens and ducks in Thailand. Ruminants such as cattle, buffaloes, goats, and sheep hold the second place and are primarily reared for meat and milk production. Aqua feed is primarily used for cultured fish farming in the aquaculture industry, while swine feed is used for rearing pigs.

Key attractiveness of the report

• COVID-19 Impact on the Market.
• 10 Years Market Numbers.
• Historical Data Starting from 2020 to 2023.
• Base Year: 2023.
• Forecast Data until 2030.
• Key Performance Indicators Impacting the Market.
• Major Upcoming Developments and Projects.

Key Highlights of the Report:

• Thailand Animal Feed Market Outlook
• Market Size of Thailand Animal Feed Market, 2023
• Forecast of Thailand Animal Feed Market, 2030
• Historical Data and Forecast of Thailand Animal Feed Revenues & Volume for the Period 2020 - 2030
• Thailand Animal Feed Market Trend Evolution
• Thailand Animal Feed Market Drivers and Challenges
• Thailand Animal Feed Price Trends
• Thailand Animal Feed Porter's Five Forces
• Thailand Animal Feed Industry Life Cycle
• Historical Data and Forecast of Thailand Animal Feed Market Revenues & Volume By Form for the Period 2020 - 2030
• Historical Data and Forecast of Thailand Animal Feed Market Revenues & Volume By Pellets for the Period 2020 - 2030
• Historical Data and Forecast of Thailand Animal Feed Market Revenues & Volume By Crumbles for the Period 2020 - 2030
• Historical Data and Forecast of Thailand Animal Feed Market Revenues & Volume By Mash for the Period 2020 - 2030
• Historical Data and Forecast of Thailand Animal Feed Market Revenues & Volume By Others for the Period 2020 - 2030
• Historical Data and Forecast of Thailand Animal Feed Market Revenues & Volume By Species for the Period 2020 - 2030
• Historical Data and Forecast of Thailand Animal Feed Market Revenues & Volume By Poultry for the Period 2020 - 2030
• Historical Data and Forecast of Thailand Animal Feed Market Revenues & Volume By Ruminants for the Period 2020 - 2030
• Historical Data and Forecast of Thailand Animal Feed Market Revenues & Volume By Aqua for the Period 2020 - 2030
• Historical Data and Forecast of Thailand Animal Feed Market Revenues & Volume By Swine for the Period 2020 - 2030
• Historical Data and Forecast of Thailand Animal Feed Market Revenues & Volume By Others for the Period 2020 - 2030
• Historical Data and Forecast of Thailand Animal Feed Market Revenues & Volume By Type for the Period 2020 - 2030
• Historical Data and Forecast of Thailand Animal Feed Market Revenues & Volume By Acidifiers for the Period 2020 - 2030
• Historical Data and Forecast of Thailand Animal Feed Market Revenues & Volume By Probiotics for the Period 2020 - 2030
• Historical Data and Forecast of Thailand Animal Feed Market Revenues & Volume By Enzyme for the Period 2020 - 2030
• Historical Data and Forecast of Thailand Animal Feed Market Revenues & Volume By Antioxidants for the Period 2020 - 2030
• Historical Data and Forecast of Thailand Animal Feed Market Revenues & Volume By Antibiotics for the Period 2020 - 2030
• Historical Data and Forecast of Thailand Animal Feed Market Revenues & Volume By Vitamins for the Period 2020 - 2030
• Historical Data and Forecast of Thailand Animal Feed Market Revenues & Volume By Minerals for the Period 2020 - 2030
• Historical Data and Forecast of Thailand Animal Feed Market Revenues & Volume By Others for the Period 2020 - 2030
• Thailand Animal Feed Import Export Trade Statistics
• Market Opportunity Assessment By Form
• Market Opportunity Assessment By Species
• Market Opportunity Assessment By Type
• Thailand Animal Feed Top Companies Market Share
• Thailand Animal Feed Competitive Benchmarking By Technical and Operational Parameters
• Thailand Animal Feed Company Profiles
• Thailand Animal Feed Key Strategic Recommendations

Market Covered

The report offers a comprehensive study of the subsequent market segments:

By Form

• Pellets
• Crumbles
• Mash
• Others

By Species

• Poultry
• Ruminants
• Aqua
• Swine
• Others

By Type

• Acidifiers
• Probiotics
• Enzyme
• Antioxidants
• Antibiotics
• Vitamins
• Minerals
• Others

Frequently Asked Questions About the Market Study (FAQs):