Thailand Animal Feed Market Size Analysis Report - Market Share, Forecast Trends and Outlook (2024-2032)

Thailand Animal Feed Market Growth

The animal feed market is poised for exponential growth owing to the increasing awareness regarding animal nutrition and developments in feed manufacturing technology. Animal nutrition plays a key role in boosting the health and productivity of the animal. As per Thailand animal feed market analysis, CP Foods recently implemented a compartment system for chickens to minimize the risk of diseases such as Avian Influenza (AI), and Newcastle disease through constant monitoring to increase yields and raise poultry standards. Additionally, the demand for protein-rich feed such as meat and poultry is on the surge due to an increase in income and population growth.

Moreover, feed manufacturing technology is being continuously improved in Thailand to meet domestic requirements. For instance, Full Circle Biotechnology- a nutrient recapture company that produces insect feed for shrimps and pigs has leveraged artificial intelligence (AI) to study data and maximize production at a lower cost to make insect feed more affordable than soybean meal.

Also, there is a rising demand for animal feed produced using sustainable methods, driven by a burgeoning focus on the safety of both the animal and the environment, aiding the Thailand animal feed industry. For instance, in March 2024, Alltech and Thai Wah entered into a partnership to reduce carbon footprint, enhance optimal health, and effectively utilize waste through a biogas project to promote sustainability practices along with animal feed production.

Key Trends and Recent Developments

Increased meat consumption, rising exports of poultry products, inclination towards organic feed consumption, and government subsidies are accelerating the Thailand animal feed market value.

March 2024

The Thai Feed Mill Association and the U.S. Soybean Export Council signed a Memorandum of Understanding (MoU) to establish a sustainable and reliable supply chain of soybean, soybean meal, and soy products for the Thai feed milling industry. The partnership aimed at knowledge sharing between the two organisations including sustainability standard protocols for feed quality, technical expertise, and best farming practices.

March 2023

Betagro PCL, a Thailand-based food company established its new feed mill in the country with a production capacity exceeding 600,000 tonnes. The mill was also equipped with advanced technologies such as Internet of Things (IoT) connectivity and automation for efficient farm, factory, and storage management as well as enhanced quality control. 

March 2023

Cargill, a leading producer of animal feed in Thailand signed an agreement with pork supplier VPF Group to enhance the supply of sustainable pork feed in the country. As part of the Agreement, Cargill received access to VPF’s swine feed manufacturing facility equipped with modern technologies and efficient quality controls to advance its overall production. On the other hand, VPF Group received the feed produced by Cargill to supply high-quality pork in the market. 

March 2023

The Thai cabinet approved a THB 716 million budget for the Corn Insurance Plan, covering the crop against damages from up to seven natural disasters between November 2022 and April 2024. Operated by the Bank for Agriculture and Agricultural Cooperatives (BAAC), the insurance guaranteed 30 rai of maize per household. The effort was aimed at supporting the reliable production and supply of maize feed in Thailand’s animal feed market. 

Increased Consumption of Meat Driving Animal Feed Demand Growth in Thailand

Thailand has witnessed increased meat consumption in recent years owing to the growing awareness of its health benefits and rising disposable income. According to the Organisation for Economic Co-operation and Development (OECD), the country recorded 1.2 kgs of per capita meat consumption during 2024 and has been predicted to raise it to 1.3 kgs by 2030. The rise in meat consumption is expected to propel the growth of animal farming in the country, thereby leading to a high demand for animal feed.

Export of Poultry Products Leading to a Growth in the Thailand Animal Feed Market Revenue

Thailand has been a major exporter of poultry products in the Asia Pacific region, with its major markets being Laos, Cambodia, Myanmar, and Vietnam. Together these countries accounted for USD 806,000 billion worth of the country’s total poultry exports in 2021. A further rise in these exports is expected during the coming years owing to a growth in poultry production and the development of efficient poultry farming methodologies. This will raise the consumption of animal feed in Thailand, leading to an overall growth of the market revenue.

Organic Animal Feed Production a Growing Trend of Thailand Animal Feed Market

Rising awareness of animal nutrition and inclination towards environmental sustainability is increasing the preference for organic animal feed production in Thailand. Key players are tapping into this new market potential with high investment and increased research. For instance, Thailand-based Tan-Khun organic poultry farm announced its plan to open a new organic feed mill for domestic consumption as well as supply to its distributors. A further rise in environmental concern among Thailand’s poultry farmers is expected to create new opportunities for organic feed production.

Government Support and Regulatory Framework Supporting Market Growth

The Thai government has initiated several efforts to promote the growth of Thailand animal feed market. For instance, on 14th March 2023, it announced a budget worth THB 1 billion for providing credit facilities to maize farmers. A part of the budget was meant to support animal feed producers to purchase maize from Thai farmers as well. Initiatives such as these, coupled with Thailand’s adherence to international food safety standards for its feed products have enhanced the overall productivity of the market.

Thailand Animal Feed Industry Segmentation

“Thailand Animal Feed Market Report and Forecast 2024-2032” offers a detailed analysis of the market based on the following segments:

Market Breakup by Type

• Fodder and Forage
• Compound Feed 

Market Breakup by Livestock

• Pork
• Aquatic Animal
• Cattle
• Poultry
• Others

Market Breakup by Raw Material

• Soy
• Corn
• Others

Thailand Animal Feed Market Share

Based on livestock, the market is segmented into pork, aquatic animals, cattle, and poultry, among others. Poultry holds a significant position in terms of market share as chickens and ducks are widely consumed throughout the country and exported on a large scale. For instance, animal feed companies such as CP Foods have implemented the compartment system to boost poultry production and help in disease prevention.

Leading Companies in Thailand Animal Feed Market

Market players are continuously investing in feed manufacturing technologies and promoting environmental sustainability.

• Alltech Inc.
• Nutreco N.V.
• Archer-Daniels-Midland Company
• Cargill, Incorporated
• Charoen Pokphand Foods PCL
• Intech Group
• SPM Animal Feed Company Limited
• Betagro Public Company Limited
• Thailuxe Enterprise (Thailand) Co., Ltd.
• Others