Japan Animal Feed Market Set for Steady Growth, Forecast to Reach US$12.86 Billion by 2028 [Yahoo! Finance]
ITOCHU CORP UNSP/ADR (ITOCY)
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Source: Yahoo! Finance
The Japan animal feed market is on a steady trajectory of growth, projected to expand at a compound annual growth rate of 2.15% from US$11.090 billion recorded in 2021 to an estimated US$12.868 billion by the year 2028. This growth is primarily fuelled by the sustained increase in meat and poultry consumption, technological advancements in feed production, and a pronounced shift in dietary preferences amongst Japanese consumers. Industry Dynamics The pivotal factors influencing the expansion of the animal feed market in Japan encompass legal frameworks, technological advancements, economic conditions, and evolving consumer demands. The sector navigates complex interactions among population trends, environmental parameters, and global trade policies that underscore its sustainability and responsiveness to the changing patterns in food production and consumption. Meat Consumption Trends The market is further propelled by a robust demand for beef and pork, while the poultry sect
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