Global swine feed demand is expected to increase over the forecast period on account of rise in pork production. Seventy to eighty per cent of pork production cost accounts for swine feed, thus creating opportunities for market participants. Feed additives are important as they enhance the nutrition value of feed and also help animals in digestion. Increasing awareness regarding animal nutrition and animal feed is expected to fuel the market growth over the forecast period. Types of feed additives used in swine feed are antioxidants, antimicrobials, enzymes and emulsifiers. Pork being a prominent meat choice among the global consumers, is ultimately expected to drive the global swine feed demand over the next seven years. Increasing demand for good quality pork is also expected to drive the market of swine feed. Good quality swine feed at lower costs help pork producers to earn significant amount of revenues. Increasing pork trade is in turn expected to fuel the swine feed market over the forecast period.
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Rising demand for safe pork is also expected to augment swine feed demand. Rising swine feed prices are also affecting pork manufacturers’ profitability, which is expected to pose a challenge for swine feed market.
Asia pacific region is expected to witness large demand of swine feed as Vietnam, Philippines and Thailand are major consumers of pork across the globe. China accounts for 50% of the world pork production and is expected to witness high demand for swine feed which in turn is expected to have a positive impact on the Asia Pacific market. Australia, New Zealand and North Korea also import large quantities of pork and is expected to impact the market positively. North America is another major producer of pork and is anticipated to witness huge swine feed demand over the forecast period. Europe is also expected to witness high swine feed demand on account of increasing pork consumption in the region and also on account of stringent local laws regarding animal and human health and safety.
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