MarketStudyReport.com adds “GCC Compound Feed Market – Growth, Trends and Forecasts (2015 – 2020)” new report to its research database.
The GCC compound feed market was valued at over 5 Billion USD in 2015 and is expected to reach over 6.039 billion by 2020 growing at a CAGR of 3.6% during the forecast period. The GCC regions includes a group of six countries that share a common political and social structure, they include: Saudi Arabia, UAE, Kuwait, Bahrain, Qatar and Oman. The compound feed industry is an all-encompassing feed industry comprising of feed antibiotics, vitamins, antioxidants, amino acids, feed enzymes and feed acidifiers.
Compound feeds include the nutritional, supplementary and various other products given to enhance the performance of animals. They help in the industrial cultivation of livestock by helping the animal in some functionality. The major end-consumer is the livestock farmer and most products are tailor made to suit their preference.
The composites also find use in stealth functionality for their ability to absorb radar signals. Notable in The major raw material necessary for feed productions, such as grains, require a large amount of water, making their cultivation difficult in the region. This water scarcity coupled with a considerable presence of capital make the GCC an import dependent region in terms of compound feed market. The regional governments are accepting this fact as strategy but are also aggressively promoting local manufacturers in order to boost domestic production. The other important factors that are going to affect the market in the region are that of changing demographics and dietary patterns. To mitigate the risk of increasing obesity and diabetes risks the region is moving towards a protein based diet instead of the traditionally carbohydrate based one. The increasing incomes and the recent moves of economic diversification are also important factors that are positively impacting the compound feed market. The over-reliance on imports and relatively low per-capita consumption are the major constraints of the market in the region. Despite an overall move towards protein based diets, the region lags behind in per-capita meat consumption in comparison to other developing regions.
The market is segmented on the basis of animal type, supplements, ingredients and geography. On the basis of animal type, ruminants occupy a significant market share followed by poultry, fish and swine. On the basis of supplements, vitamins and amino acids are the leading categories. In terms of ingredients, cereals and cereal-by products are the most important segments as most feed products use cereal as their main ingredients. In terms of Geography Saudi Arabia is a market leader occupying a dominant market share, followed by UAE, Oman, Kuwait, Bahrain and Qatar. The dominance of KSA is attributed to its high per-capita incomes, larger size and superior economy. The political and social trends follow an almost uniform trend in the region.
Some of the major companies covered in the region include, ARASCO, Agthia, Trouw Nutrition, IFFCO, Fujairah, AL-Sayer, and EXCEED (National Feed).
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