Animal feed is the food that is fed to domestic animals, particularly livestock, throughout the husbandry process. Raw and semi-processed foodstuffs are fed to cattle and poultry as animal feed. Today's animal feed is made by carefully choosing and combining components to guarantee that the animals are fed a high-quality, nutritious diet that will both preserve their health and improve the quality of the final products, such milk, meat, or eggs. Blended ingredients include silage, hay, sprouted grains, straws, beans, and oil. The protein, carbohydrates, minerals, fibres, and enzymes found in modern animal feed are enhanced. The animal meals have been enhanced by research, experimentation, and chemical analysis.
According to SPER market research, ‘Indonesia Animal Feed Market Size- By Type, By Livestock, By Source, By Production System, BY Form, By Raw Material- Regional Outlook, Competitive strategies and Segment Forecast to 2033’ state that the Animal Feed Market is predicted to reach USD 13.54 billion by 2033 with a CAGR of 5.01%.
The market for animal feed in Indonesia is primarily driven by the country's growing middle class and population. Since the market for animal feed is expanding due in large part to the growing demand for meat and dairy products. With people's lifestyles changing and their dietary choices evolving, there has been a noticeable increase in meat consumption, which will support market expansion. Growing urbanization and shifting dietary habits are also driving market expansion. Resources abound in Indonesia's agriculture sector, enabling the production of a wide range of feed ingredients, including soy, corn, and palm. Another important aspect is the growth of Indonesia's cattle farming industry, which is being pushed by both domestic and foreign demand. This makes it possible to produce various ingredients at a low cost and gives the local feed marketer the opportunity to grow their businesses.
However, there are certain challenges in expanding the animal feed sector in Indonesia. Price fluctuations for raw materials are a major problem that can have an impact on the expenses and profitability of making animal feed. Due to greenhouse gas emissions and water consumption associated with the livestock business, environmental concerns are also limiting the expansion of the animal feed market. Thus, the industry for animal feed is facing pressures from growing environmental concerns. A further significant aspect is the occurrence of disease outbreaks, which can lead to livestock losses, lower productivity, and an impact on the market for animal feed. It is crucial for eco-friendly activities.
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The COVID-19 pandemic has caused a global lockdown, which has disrupted the supply chain and reduced sales of animal feed. The need for protein has dropped as a result of the food services being stopped. The Indonesian government has put in place a number of measures, such as travel restrictions and social distance, to slow the spread of the virus in response to lockdowns and other restrictions.
Indonesia Animal Feed Market Key Players:
Because of its enormous and growing population, Asia Pacific accounted for the biggest revenue share geographically. The growth of the animal feed industry and the increasing number of important players in the Eastern Indonesian market are other factors in the expansion. In addition, BASF SE, Novozymes, East Hope Group, Kemin Industries, Inc., and Archer Daniels Midland Company are a few of the major industry participants.
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Indonesia Animal Feed Market Challenges
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