South Korea Animal Feed Market Overview, 2027

South Korea's animal feed market is vital to the country's agricultural and livestock sectors, serving as a fundamental component in the production of safe and high-quality animal products. With a strong emphasis on food security and animal welfare, South Korea's animal feed sector has grown dramatically. A expanding population, rising meat consumption, and a thriving cattle sector all contribute to the market's resiliency. Animal feed is vital to the health, growth, and productivity of cattle, poultry, and aquaculture species. Evolving trends, such as the increased demand for specialised feed formulas adapted to certain species and phases of production, have an impact on the industry. This trend is being driven by breakthroughs in animal nutrition research and a better understanding of the nutritional needs of various animals. Furthermore, the market is seeing a transition towards ecologically friendly and sustainable feed production, with an emphasis on reducing waste, enhancing feed efficiency, and minimising environmental effect. As the South Korean animal feed market evolves, industry stakeholders must adapt to changing consumer preferences, embrace technological advancements, and collaborate with research institutions to meet the growing demand for safe, nutritious, and sustainable animal feed, ensuring the country's livestock and agricultural sectors' continued growth and development. According to the Overview ""South Korea Animal Feed Market Overview, 2027"" published by Bonafide Research, it is expected to grow, but at a very slow pace over the forecast period. Aqua feed farming is increasingly being commercialised with its demands, resulting in an increased demand for feed to raise them. On the other hand, cattle feed remains with more market share as it is the most demanded meat by consumers. Animal supplements are expected to be in demand over the forecast period as the animals are deprived of vitamins and minerals from the feed they are fed. Also, due to low feed quality and to improve their structural body composition, supplements are fed to animals. The pellet form of animal feed is expected to remain the main form of feed, but the crumbled form is also expected to be in demand during future years. Plant-based sources remain the main source of protein for animal feed as they provide a range of benefits for both the animals as well as feed manufacturers. The high prices of animal feed and their raw materials act as a hindrance as farmers do not want to invest a major chunk of their income in feeds. Demand for animal feed in the country is increasing with greater emphasis on animal health as well as rapid growth in animal farming, which are expected to increase its demands in the future.

Cereals by ingredient type are rich in starch content and are highly preferred to feed animals. Every grain or cereal varies in its nutritional content and digestive anatomy of the animal. Starch that is completely digested before the end of the small intestine (SI) provides the maximum amount of glucose from the grain to support growth. Barely, corn, oats, and rye are entirely used as animal feed and only small amounts are used for human consumption. These grains and cereals might be fed in whole or compound form, mixed with other bi-products or oils, minerals or vitamins to form a complete meal for animals. The produced cereals are stored after drying to reduce moisture levels and preserve them for the full year. Since some are seasonal grains, they need to be produced for the whole year and stored to meet the demands. Production is highly influenced by particular crop failures, droughts, or climatic conditions. Animal feed Pellets are made from corn, bean pulp, straw, rice husk, and other cereals and grains for different animals. They have comprehensive nutrition, improve digestibility of feed, decrease picky eaters of animals and are easy to store and transport. The pellets often contain grease as they provide oxidation and hydrolysis. Oxidation helps to convert unsaturated fats into saturated fats when the feed pellets have improper fats as it is easy to hydrolyse. The quality of pellets can be defined by the repeated handling, bagging, transportation, and storage feed lines without much damage or fine particles. However, the pellet quality and efficiency depend on the raw materials used, like corn and soy lack the ability to achieve good pellet quality, while that of wheat increases pellet durability because of high protein content and hemi-cellulose in contrast to corn and soy products. Additionally oats can increase pellet quality if mixed with corn. However, COVID-19 has caused some problems and changes in the feed industry, like many other industries, and the Canada feed industry is no exception. It had a negative impact due to disruptions in supply chain activities caused by global trade restrictions. A sharp drop in demand for restaurant meals and an increase in demand for grocery store food, combined with certain challenges in reorienting meat supply networks, resulted in a surge in retail meat prices and occasional grocery store stock-outs of specific meat products. Lower demand for cattle and supplies of beef and pork resulted from the drop in demand. Considered in this report: • Geography: South Korea • Base year: 2021 • Estimated year: 2022 • Forecast year: 2027

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Manmayi Raval

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Aspects covered in this report • Canada animal feed market with its value and forecast along with its segments • Various drivers and challenges • On-going trends and developments • Top profiled companies • Strategic recommendation By Ingredients in the report: • Cereals • By-Products • Cakes & Meals • Supplements By Livestock in the report: • Cattle Feeds • Poultry Feeds • Pig Feeds • Aqua Feeds

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By Form in the report: • Pellet • Mash • Crumbles • Cubes & Cakes By Source in the report: • Animal based • Plant-based The approach of the report: This report consists of a combined approach of primary as well as secondary research. Initially, secondary research was used to get an understanding of the market and listing out the companies that are present in the market. The secondary research consists of third party sources such as press releases, annual report of companies, analysing the government generated reports and databases. After gathering the data from secondary sources primary research was conducted by making telephonic interviews with the leading players about how the market is functioning and then conducted trade calls with dealers and distributors of the market. Post this we have started doing primary calls to consumers by equally segmenting consumers in regional aspects, tier aspects, age group, and gender. Once we have primary data with us we have started verifying the details obtained from secondary sources. Intended audience This report can be useful to industry consultants, manufacturers, suppliers, associations & organizations related to Animal Feed Industry, government bodies and other stakeholders to align their market-centric strategies. In addition to marketing & presentations, it will also increase competitive knowledge about the industry.