Increasing Purchasing Power of Consumers Drives Animal Feed Ingredients Market in Asia Pacific, Finds Frost & Sullivan

Increasing Purchasing Power of Consumers Drives Animal Feed Ingredients Market in Asia Pacific, Finds Frost & Sullivan PR Newswire SINGAPORE, Oct. 26, 2012 - Customizing feed ingredients to suit the needs of the farmers is crucial to jumpstart the fortified feeds market SINGAPORE, Oct. 26, 2012 /PRNewswire/ -- Rising consumption patterns on the back of growing incomes and a burgeoning middle class is expected to double the demand for food ingredients in Asia. The higher affordability of food, especially poultry, has particularly improved the prospects of the animal feed ingredients market. Acknowledging the escalating demand, feed ingredients suppliers are striving to increase the production of efficient, cost-effective, fortified animal feed ingredients. New analysis from Frost & Sullivan (http://www.food.frost.com), Analysis of the Asia-Pacific Animal Feed Ingredients Market, finds that the market earned revenues of over $1.65 billion in 2011 and estimates this to reach $2.38 billion in 2018. Many companies have set up base in Asia Pacific, bringing innovative products and technological advancements to developing markets. Their state-of-the-art capabilities enable them to offer customized, efficient, cost-effective solutions with superior nutritional benefits to farmers in the region. "These global participants' best practices have raised the standards and practices of the industry," said Frost & Sullivan Industry Analyst Anjaneya Reddy.