South Africa's animal feed market growing
The animal feed and additives segment is projected to experience the highest opportunity growth in the future, reaching nearly $660.0 mln by 2015, according to a new report from Frost & Sullivan: South African Market for Agriculture Chemicals.
The South African market for agriculture chemicals is currently facing numerous challenges due to the current economic recession. Nevertheless, there are a number of strategies that the agricultural industry can adopt in order to convert these challenges into opportunities, according to the report.
"The South African agriculture chemicals market is anticipated to grow in the long-term due to increasing pressure on farmers to boost the production of crops and livestock," notes the analyst of this research. "There is also a mounting trend in protein consumption and changing dietary patterns which are poised to promote demand for agriculture chemicals." These growth opportunities are set to have a positive long-term impact on the market.
The animal feeds and additives segment is projected to experience the highest opportunity growth in the future, reaching nearly $660.0 mln by 2015. The agricultural industry in South Africa is potentially in a good position to attract investors, since the new government has split the Agriculture and Land Affairs departments. This has been regarded as a positive step, particularly since the focus can be on improving primary agriculture as well as rural development.
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