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Global Vietnam Animal Feed Additives Market 2015 Market
Share, Size, Industry Profile, Market Prize, Forecast and
Overview
Vietnam animal feed additives market is expected to reach USD 160.5 million by 2022. Increasing per
capita meat consumption is expected to be major factor driving Vietnam animal feed additives market
over the next seven years. With increasing meat consumption, domestic market for animal feed has
been experiencing significant growth since the last few years. Increasing requirements for high quality
feed from animal farmers is expected to drive demand for feed additives such as feed enzymes, feed
acidifiers, amino acids and antioxidants.
Antibiotics emerged as the leading product segment and accounted for over 36% of the total market
revenue in 2014. Nascent domestic probiotics production coupled with animal farmer's inclination
towards antibiotics as growth promoters has been instrumental in its growth. Increasing incidences of
microbial diseases among farm animals is expected to drive antibiotics demand over the forecast period.
Funding initiatives to develop probiotics domestically is expected to challenge antibiotics consumption
since most animal farmers prefer the latter owing to their easy availability and cheaper costs compared
to antibiotics.
Browse Detail Report With TOC @ Vietnam animal feed additives market
Further key findings from the study suggest: