Thailand animal feed market has witnessed revenue growth, driven by the expansion of the livestock industry and agriculture sector, despite a slight decline in volume. For instance, in 2023, agricultural production was valued at $46.87 billion, with a market size of $21.5 billion and exports reaching $49.7 billion. This growth has been driven by the demand for key products such as tapioca, rubber, canned tuna, and pineapple in neighbouring countries. Additionally, there is a rising demand for animal feed in Thailand, along with an increasing population of live animals, which reached 58,849 in 2023. Moreover, the exports of meat have been significant. For example, Thailand is the leading exporter of prepared meats, with $3.12 billion in exports in 2023. Thailand also exported 1.6 million tonnes of seafood products in 2022, valued at $5.7 billion USD.
According to the research, Thailand Animal Feed Market is projected to grow at a CAGR of 5.8% during 2024-2030. The animal feed market in Thailand is poised for significant growth in the years ahead, driven by increasing dairy and meat consumption. In 2022, raw milk production in Thailand reached 1.42 million tonnes. CP-Meiji, a leading milk producer, buys 580-600 tons of raw milk daily from 6,000 dairy farmers and aims to increase milk consumption from 22 liters per person per year to 25 liters by 2027, which will positively impact the animal feed market. Additionally, the Ministry of Agriculture and Cooperatives' 20-year strategy (2017-2036) promotes smart farming techniques for more efficient livestock farming, further boosting the market. Moreover, the increasing pet adoption in Thailand is significant, with the nation’s pet industry being the second largest in Asia, behind China. As a result, the animal feed market in Thailand is anticipated to witness substantial growth during the forecast period.
Market Segmentation by Form
Pellets are expected to dominate the Thailand animal feed industry, primarily driven by their superior feed conversion efficiency. Additionally, they have a longer shelf life and greater stability. The pelleting process kills pathogens and reduces moisture, preventing mold growth and extending usability.
Market Segmentation by Species
In 2023, poultry held the highest revenue share due to the high demand for poultry meat, especially chicken, a staple in Thai diets with significant domestic and international consumption. Thailand, a leading poultry exporter, has a well-developed poultry industry supported by stringent quality standards and efficient practices and substantial market investments contribute to the dominant revenue share of poultry feed.
Market Segmentation by Type
Concentrate animal feed is anticipated to lead the market due to its high nutrient content, including proteins, vitamins, and minerals. It offers significant energy and protein, promoting livestock growth, milk production, and overall health.
Market Segmentation by Regions
The Central and North-eastern regions are projected to dominate the animal feed market due to their high concentration of commercial livestock farms. These regions benefit from advanced infrastructure and logistics networks, which ensure efficient feed distribution and accessibility.
Key Attractiveness of the Report
- 10 Years Market Numbers.
- Historical Data Starting from 2020 to 2023.
- Base Year: 2023
- Forecast Data until 2030.
- Key Performance Indicators Impacting the Market.
- Major Upcoming Developments and Projects.
Key Highlights of the Report
- Thailand Animal Feed Market Overview
- Thailand Animal Feed Market Outlook
- Thailand Animal Feed Market Forecast
- Thailand Animal Feed Market Porter’s Five forces Analysis
- Thailand Animal Feed Market Industry Life Cycle Analysis
- Historical Data and Forecast of Thailand Animal Feed Market Revenues, for the Period 2020-2030F
- Market Drivers and Restraints
- Historical Data and Forecast of Thailand Animal Feed Market Revenues, By Type, for the Period 2020-2030F
- Historical Data and Forecast of Thailand Animal Feed Market Revenues & Volumes, By Form, for the Period 2020-2030F
- Historical Data and Forecast of Thailand Animal Feed Market Revenues, By Spices, for the Period 2020-2030F
- Historical Data and Forecast of Thailand Animal Feed Market Revenues, By Region, for the Period 2020-2030F
- Import-Export Analysis
Key Performance Indicators
- Market Opportunity Assessment
- Competitive Benchmarking
- Company Profiles
- Key Strategic Recommendations
- Market Scope and Segmentation
The report provides a detailed analysis of the following market segments:
By Form
- Pellets
- Crumbles
- Mash
- Others
By Species
- Poultry
- Ruminants
- Aqua
- Others
By Type
Roughages
Concentrates
By Regions
- Northern
- North-Eastern
- Central
- Southern
Table of Contents
1 Executive Summary
Companies Mentioned
- Charoen Pokphand Foods (CPF)
- Cargill Incorporated
- Alltech Incorporated
- Betagro Public Co. Ltd.
- SPM Feed Mill Co. Ltd.
- Sun Feed Co. Ltd.
- Thai Luxe Enterprise PCL
- The Union Feed Co. Ltd. Public Co. Ltd.
- Laemthong Corporation Feed Co. Ltd.
- Inteqc Feed Co. Ltd.
