Market Dynamics
The animal feed additives market in Malaysia, one of the largest and most populous countries in Southeast Asia, is witnessing rapid growth due to the growing global animal feed demand. Rising population, rising income levels and increasing awareness about the health and nutrition of animals are the primary drivers for the animal feed additives market in the region. On the supply side, animal feed additives manufacturers in Malaysia are investing heavily in R&D to explore new sources of nutrition for animal food. These include the use of enzymes, amino acids, probiotics, vitamins and minerals in animal feed. Moreover, manufacturers are also producing functional and value-added feed additives to meet changing animal nutrition requirements. To meet the rising animal feed demand in the country, the Malaysian government has implemented several initiatives. These include modifications in feed regulations, increased support to the animal feed industry, and tax incentives to increase investments in the sector. This has resulted in increased investments and improved business conditions for animal feed additives manufacturers in Malaysia. In the near future, animal feed additives in Malaysia will be further driven by increasing urbanization and efforts to control diseases in farm animals.
Furthermore, the penetration of compound feed in major livestock production industries will also create new opportunities for animal feed additives manufacturers in the region. The Malaysian animal feed additives market is segmented into vitamins, minerals, enzymes, mycotoxin detoxifiers, probiotics and other feed additives. Vitamins and minerals are the most preferred feed additives, followed by enzymes, amino acids, probiotics and other feed additives. Growing demand for animal feed in the region is expected to drive growth in production and consumption of animal feed additives in Malaysia in the long-term. The Malaysian animal feed additives market is highly competitive and is dominated by multinational animal feed additives companies such as Cargill, Archer Daniels Midland, BASF, Royal DSM, and Alltech. Local animal feed additives manufacturers such as Unifauro Sdn Bhd, Nutricareplus Sdn Bhd, Dynagene Agro Sdn Bhd, and Bayland Sdn Bhd also have significant presence in the market. In conclusion, the animal feed additives market in Malaysia is growing at an impressive rate owing to a strong economic outlook and growing demand for animal feed in the region. With strong government support and innovative product offerings, the market is projected to witness robust growth during the forecast period 2018-2032.
