The “Market Entry-Feed Additives Industry in Phillipennes” report has been added to Research and Markets’ offering.
Amino acids and phosphates dominate the global feed additives market with 40% and 26% market share respectively. All the other segments (vitamins, non-protein nitrogen, carotenoids, and enzymes) combined contribute to the remaining 34% of the market. Growing preference for white meat, especially in India and China, is expected to drive poultry feed additive demand over the next six years.
However, the difference in regulations in various countries affects the global meat market adversely, especially in the developing and developed nations. The poultry industry in the Asia-Pacific region benefits from lenient feed related regulations. Swine and poultry feed sector is dominated by Asia-Pacific, as China claims the largest animal feed additives market, worth over USD 5.1 billion. Another leading player in this region is India, with its rich agro-technological advantage. Addiseo, BASF, Lonza and Novus International, are few international players holding a significant share in the market.
The Philippines is one of the largest markets in Southeast Asia with an estimated 103 million people and ruled by a presidential democratic republic. With the 12th largest population and the 30th largest economy, there is certainly scope for development, as it has grown from being an agriculture-based to services-based economy in the early 21st-century.
In comparison to its neighbors like Indonesia, Malaysia, and Thailand, Philippines have failed to meet expectations in terms of the volume of FDI. However, recent economic resurgence brought about by strong and consistent economic growth since 2010, new anti-corruption measures and credit rating upgrades have improved their international reputation and created a new impetus for attracting FDI’s into the country. The Aquino government helped with this by the passage of laws to liberalize the entry of foreign banks into the country, relaxing the Cabotage law allowing foreign vessels to ply import and export within the archipelago. The Customs Tariff and Modernization Act of 2016 to meet international standards, reflects efforts of the nation towards increasing FDI.
Key Topics Covered:
2. Market Dynamics
3. Market Demand Analysis
4. Market Size of Feed Additives Industry by Type (USD millions)
5. Market Entry
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