Dublin, April 01, 2024 (GLOBE NEWSWIRE) -- The "Japan Animal Feed Market - Forecasts from 2023 to 2028" report has been added to ResearchAndMarkets.com's offering.
The Japan animal feed market is on a steady trajectory of growth, projected to expand at a compound annual growth rate of 2.15% from US$11.090 billion recorded in 2021 to an estimated US$12.868 billion by the year 2028. This growth is primarily fuelled by the sustained increase in meat and poultry consumption, technological advancements in feed production, and a pronounced shift in dietary preferences amongst Japanese consumers.
Industry Dynamics
The pivotal factors influencing the expansion of the animal feed market in Japan encompass legal frameworks, technological advancements, economic conditions, and evolving consumer demands. The sector navigates complex interactions among population trends, environmental parameters, and global trade policies that underscore its sustainability and responsiveness to the changing patterns in food production and consumption.
Meat Consumption Trends
The market is further propelled by a robust demand for beef and pork, while the poultry sector promises consistent growth. The stabilizing pork consumption and the modest increase in the demand for chicken and beef underline the need for quality feed products. Government measures to contain health issues in poultry are anticipated to instigate a positive outcome for the industry.
Farm Production Statistics
According to recent reports, there has been a significant rise in cattle production with stable output predictions for beef in the coming year. Concurrently, pork production and importation levels are expected to maintain their current trajectory. The poultry segment is also forecasted to experience growth, as evident from government agricultural reports indicating a year-on-year expansion in the broiler chicken population.
Market Enhancements and Segmentation
Recent developments include strategic collaborations and innovative product launches focusing on addressing the increasing demand for high-quality protein sources and enhancing overall feed efficacy and stability. The market can be segmented by type, including Compound Feed and Fodder & Forage; by livestock, such as Pork, Aquatic Animals, Cattle, Poultry, and Others; and by raw materials including Corn, Soy, Rendered Meal, and Others.
The upward trend in Japan's animal feed market underscores the country's commitment to advancing livestock nutrition and health, thereby supporting the sustainability and productivity of the agriculture sector. These efforts are expected to cement Japan's position as a key player in the global animal feed industry while satisfying domestic consumption demands.
Companies Featured
- Japan Nutrition Co., Ltd. (Itochu Corporation)
- Feedone Co., Ltd.
- Lallemand Inc.
- Chr. Hansen Holding A/S
- Alltech, Inc.
- Showa Sangyo Co., Ltd.
- Feed One Co., Ltd.
- Nestle Japan Ltd.
- Marubeni Nisshin Feed Co., Ltd.
- Nosan Corporation (Mitsubishi Corporation)
For more information about this report visit https://www.researchandmarkets.com/r/dxj3nv
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