The development trend of China's feed industry
With the rapid development of my country's breeding industry and the continuous expansion of breeding scale, my country's feed demand has gradually increased, and the domestic industrial feed output has also continued to grow. However, with the adjustment of the industrial structure of the industrial feed industry, under the background of increasingly strict market supervision , the industrial feed industry has entered a stage of integration and upgrading, and the growth rate of output has declined.
According to data from the China Feed Industry Association, the total national feed output in 2021 is 293 million tons, of which, the output of compound feed is 270.171 million tons, an increase of 17.1%; the output of concentrated feed is 15.511 million tons, an increase of 2.4%; the output of additive premixed feed is 6.631 million tons , an increase of 11.5%.
In terms of varieties, in 2021, the total sales volume of pig feed, poultry feed and aquatic product feed in my country will account for more than 90%. Among them, the output of pig feed was 130.765 million tons, an increase of 46.6%; the output of egg and poultry feed was 32.314 million tons, a decrease of 3.6%; the output of meat and poultry feed was 89.096 million tons, a decrease of 2.9%; the output of ruminant feed was 14.803 million tons, an increase of 12.2%; the output of aquatic feed The output was 22.930 million tons, an increase of 8.0%.
The concentration of the feed industry has increased, with 39 companies with an annual output of more than one million tons, of which 6 companies exceed 10 million tons
Since 2006, the overall number of feed enterprises in my country has shown a downward trend, and the industry concentration has gradually increased. According to data from the China Feed Industry Association, in 2021, there will be a total of 14 enterprises with an annual output of more than 500,000 tons. There are 39 feed enterprise groups with an annual output of more than one million tons, of which 6 enterprise groups have an annual output of more than 10 million tons, an increase of 3 over the previous year. From the perspective of variety categories, the integration trend of the aquatic feed industry is becoming more and more obvious, the development of large enterprises is accelerating, and the competitive advantages are obvious; there is a certain echelon gap between pig feed enterprises, but the competition pattern is not stable; although the market share of leading enterprises in poultry feed is relatively high, However, the competitive landscape of the industry is still fragmented.
Pig feed: leading companies have tried downstream farming
From the perspective of the competition pattern of the pig feed market, the industry concentration is not high, and the CR5 of the sales market in 2020 will be more than 25%. At this stage, in terms of sales volume, although there is a certain echelon gap between my country's pig feed production enterprises (from about 10 million tons to one million tons, or even 100,000 tons), because most companies have little difference in their products , and the change of business focus (feed companies are extending the industrial chain, especially extending to downstream breeding), the existing competition pattern in the pig feed industry is not stable, and most of the top sales companies do not have absolute advantages.
Poultry feed: there is still a lot of room for consolidation in the industry
From the perspective of the competition pattern of the poultry feed market, the market share of leading companies is relatively high, but the industry competition pattern is still fragmented. In 2020, the sales volume of New Hope poultry feed was 15.19 million tons, with a market share of 12.13%. Haid Group followed closely with a sales volume of 8.5374 million tons, accounting for 6.81% of the market share. Due to the high homogeneity of poultry feed products and fierce competition, except for the leading enterprises, most enterprises have a low market share (the market share is less than 5%), and the industry has more room for consolidation.
Aquatic Products: Industry Consolidation Trend Appears
From the perspective of the competition pattern of the aquatic feed market, the industry presents a "2+N" competition pattern. In 2020, Haid Group's aquatic feed market share is 18.20%, Tongwei shares 12.95%, New Hope 6.17%, Guangdong 4.57%, CR3 accounted for 37.09%. Driven by the intensified market competition and the integration of downstream aquaculture, the trend of integration in the aquatic feed industry has emerged, the development of large enterprises has been accelerated, some small-scale enterprises with backward technical management have been gradually eliminated, and the industry concentration has gradually increased.
Four major changes should be paid attention to in the future development of the feed industry
With the continuous improvement of the scale and specialization level of the breeding industry, the future development of the feed industry will face four major changes: first, the feed industry will enter a high-cost era; second, the industry will face the information revolution in an all-round way; third, in order to improve the ability to resist risks , more and more companies will continue to try to extend to the downstream of the industrial chain, and the industrial chain will become the mainstream choice for leading feed companies. Fourth, the tertiary industry of the feed industry will develop rapidly, which is the natural requirement of industrial development, and also the demonstration effect brought by the establishment of "guarantee companies" and "specialized breeding service companies" by pioneers such as Liuhe.