Vietnam Animal Feed Additives Market is anticipated to rise at a staggering CAGR during the forecast period. The shift in trend to consume poultry and cattle meat is gaining a high traction in Vietnam. In the past consumers largely depended on pork meat for nutritional needs. Rise in per capita income and modern methods of cattle rearing is likely to uplift the market conditions.
Rise in funding and research & development help in driving the production thereby adding sustainability in the regional market. Vietnam’s total market share in APAC is much higher as compared to India and China. In the recent years imports for animal feed have increased, which is normally routed through neighbouring countries.
Vietnam animal feed additives market is driven by rise in per capita meat consumption and significant growth in the last few years. Rising requirements for meat and meat products is likely to propel the market growth during the forecast period. Significant opportunities in the meat export is likely to propel the market scenario during the forecast period. Flexibility in trade agreements and regulatory policies have standardized feed additives quality aligned with U.N standards. Development of feeding applications for animal feeds is gaining a higher traction during the forecast period.
Product segmentation for Vietnam animal feed additives market entails vitamins, antioxidants, amino acids, feed enzymes, feed acidifiers and antibiotics. By application, the market segmentation comprises cattle, poultry and pork. Poultry and pork segments account for a higher CAGR for the estimated period. Commercial animal feed additives market comprise fodder and forage.
The key players profiled in the Vietnam animal feed additives industry report are Vedan Enterprises Co Ltd, EZ Nutrition Way Co, Hong Ha Nutrition JSC, Ajinomoto, BCargillInc, BASF SE, Anova, CP Group, Anthruc Co Ltd and DSM.
Vietnam Animal Feed Additives Product Outlook (Revenue, USD Million, 2012 - 2022)
• Amino Acids
• Feed Enzymes
• Feed Acidifiers
Vietnam Animal Feed Additives Application Outlook (Revenue, USD Million, 2012 - 2022)
Research Support Specialist, USA
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