New York, Sept. 30, 2020 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Philippines Feed Additives Market รข€“ Growth, Trends, and Forecast (2020 - 2025)" - https://www.reportlinker.com/p05974127/?utm_source=GNW
The Philippines has been known as one of the top exporters of aquaculture yields in Asia. The intensified aquaculture competition in the production has led to the indiscriminate use of antibiotics for maintaining aquaculture health. One consequence of inflicting antibiotic selective pressure to fish-associated bacteria is the emergence of antibiotic-resistant bacterial strains, which can create an alarming consequence for human consumers
The Natural binders segment of the feed additives market in the Philippines is estimated to be the fasted growing segment in the binders product type. However, the synthetic binders segments were the largest market.
Key Market Trends
Increased Demand for High Value Animal Protein
The demand for the higher value and quality foods, such as meat, eggs, and milk, is increasing compared to plant-originated foods, such as cereals, owing to the rising demand for greater food varieties and protein intake. These changes in consumption, together with sizeable population growth, have led to large increases in the total demand for animal products in the country. Furthermore, this trend is expected to continue in the coming years.
According to the Food and Agriculture Organization, the poultry meat accounts for the highest production in the country with 1.37 million metric ton in 2018 while the beef meat accounted for 0.31 million metric ton and goat meat accounted for 0.06 million metric ton. Similarly, according to the Alltech Feed Survey, the poultry feed production in the country holds the major share with the production accounting 5.927 million metric ton in 2019. The beef segment of the feed production accounts for the minimal share among other animal types.
Meat products are growing rapidly in the country due to the increasing health concern, along with the growing disposable income. The rising demand for animal products and processed meat has created an opportunity for feed manufacturers to enhance animal productivity. An increase in demand for various animal products, such as milk, dairy products, meat products, eggs, and other non-food items, has led to the growth in the usage of feed additives, thereby, boosting the market for feed additives in the country.
Ruminants Segment Dominates the Market
The ruminants majorly consume readily fermentable carbohydrates in their diet in large amounts. This adversely affected the ruminant population with the ruminal acidosis. Researchers found that the ruminal pH drop can be prevented by consuming live yeast in their diet. This factor has driven the market for probiotics additive type. The consumption of probiotics in animal diets enhanced their digestibility and prevented the growth of pH in their bodies.
According to the Food and Agriculture Organization (FAO), the total number of livestock goats increased from 3.66 million in 2016 to 3.72 million in 2019 in the Philippines. Also, the cattle and buffaloes population in the country has increased from 5.42 million in 2017 to 5.43 million by 2018, which defines an increase in the use of ruminant feed additive in the region.
ADM is one of the major players in the Philippines feed additive market which provides tailor-made feed additive for the ruminant
Competitive Landscape
The Philippines feed additives market is highly fragmented. Archer Daniels Midland Company, BASF SE, and Shiv Holdings NV (Nutreco NV) are some of the players that dominate the market. These players are adopting product innovation as their most adopted strategy and are coming up with new innovative products that cater to the needs of animal needs in the country. For instance, In June 2019, Bluestar Addisseo Co Ltd launched Rovabio Advance Phy, a multi-enzymatic solution in order to expand its product portfolios, this improves overall digestibility in addition, irrespective of the type of feed.
Reasons to Purchase this report:
- The market estimate (ME) sheet in Excel format
- 3 months of analyst support
Read the full report: https://www.reportlinker.com/p05974127/?utm_source=GNW
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The Philippines Feed Additive Market is projected to register a CAGR of 6.4% during the forecast period (2020-2025 - GlobeNewswire
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