Animal Nutrition & Feed TechnologySilver report

Published May 2026Insight Research20 min read2026 Edition16 sources, 16 primary-gradeVery high source depth

Thailand Animal Nutrition & Feed Technology Market Intelligence

Thai commercial feed industry ~THB 430-450B FY2024. CP Foods leads with ~25% share; Betagro, TFG, GFPT, Thai Union Feedmill, Cargill Provimi, Nutreco anchor a feedstock chain built on cassava, corn, soymeal imports.

Key takeaways

1
Thai commercial feed industry generated approximately in FY2024, sitting on roughly 23-24 million tonnes of formulated feed across poultry, swine, aquafeed, ruminant and pet-food channels.
2
Species mix is poultry-dominant (~ by value), with swine (~), aquafeed (~), pet food (~), ruminant (~) and specialty (~). Pet food and aquafeed grow fastest; ruminant is structurally small.
3
CP Foods (CPF) leads with an estimated share of integrated feed manufacture. Betagro (SET: BTG), Thai Foods Group (SET: TFG), GFPT, Laemthong and Thai Union Feedmill complete the integrated tier; together they control roughly of branded commercial output.
4
Cargill Provimi and Nutreco/Trouw Nutrition anchor the third-party premix and specialty-nutrition layer (Saraburi mill, Bang Pakong feed). Inter-Pacific Group, ICC International distribute pet brands; ICEA and EntoBites pioneer insect-protein feed for aquafeed and pet adjacencies.
5
Feedstock economics are import-exposed: Thailand imports ~3 Mt soybean meal annually (mostly from Brazil, Argentina, USA) and supplements domestic corn with 1-1.5 Mt of imports; cassava chip is the local carbohydrate counterweight. DLD regulates feed-mill licensing, Thai FDA registers feed additives.

Executive summary

Thailand's commercial animal-feed industry generated approximately in FY2024 revenue (TFMA, listed 56-1, SCB EIC triangulation), processing an estimated 23-24 million tonnes of formulated feed. The industry is structurally tied to four protein production chains (broiler, layer, swine, shrimp/fish aquaculture) and an increasingly weighted pet-food channel. By value, poultry feed represents approximately of output, swine , aquafeed , pet food , ruminant and specialty channels .^{[, , ]}

Operator concentration is high. CP Foods (SET: CPF) anchors the chain with an estimated share of integrated feed manufacture, supplying its own captive demand for poultry, swine, aquaculture and a growing pet-food division. Betagro (SET: BTG), Thai Foods Group (SET: TFG), GFPT (SET: GFPT), Laemthong Corporation and Thai Union Feedmill (SET: TU group) complete the integrated tier, which together controls roughly of branded commercial output. The third-party premix and specialty-nutrition layer is led by Cargill Provimi (Saraburi) and Nutreco/Trouw Nutrition; Skretting (Nutreco) supplies aquafeed specialty input. Charoen Pokphand Group is the controlling parent of CPF and overlaps with feed via CP Crop Integration.^{[, , , , , , ]}

Feedstock economics are import-exposed and policy-shaped. Thailand imports roughly 3 million tonnes of soybean meal annually (mostly Brazil, Argentina, USA) plus 1-1.5 million tonnes of corn that supplements domestic crop; cassava chip is the local carbohydrate counterweight, with direct linkages into the Cassava and Tapioca chain. Fishmeal supply from Thai trawl by-catch is constrained by EU IUU enforcement and a structural pivot toward insect-protein and single-cell substitutes. DLD (Department of Livestock Development) regulates feed-mill licensing and feed-quality registration; Thai FDA controls veterinary-drug and feed-additive registration. BOI Category 1 (agri-food) extends tax holidays to qualifying feed mills, premix manufacture and alternative-protein lines.^{[, , , , ]}

TFMA, listed 56-1, UN Comtrade, DLD, FDA, BOI

Data as of: FY2024

Thai commercial feed industry revenue (THB billion, 2020-2024)

2020

Revenue (THB B)

360

Context

ASF disruption to swine; COVID demand softness

2021

Revenue (THB B)

385

Context

Swine rebuild, broiler export recovery

2022

Revenue (THB B)

405

Context

Feed-grain price spike post-Ukraine war; pass-through

2023

Revenue (THB B)

420

Context

Soymeal moderation; aquafeed and pet-food expansion

2024

Revenue (THB B)

440

Context

Stable poultry demand, pet-food and aquafeed lead growth

Year	Revenue (THB B)	Context
2020	360	ASF disruption to swine; COVID demand softness
2021	385	Swine rebuild, broiler export recovery
2022	405	Feed-grain price spike post-Ukraine war; pass-through
2023	420	Soymeal moderation; aquafeed and pet-food expansion
2024	440	Stable poultry demand, pet-food and aquafeed lead growth

TFMA, listed 56-1, UN Comtrade

Data as of: 2024 full-year

Species mix of Thai feed output (% of FY2024 value)

Poultry feed (broiler, layer)

Share %

42%

Notes

CPF, Betagro, GFPT, Laemthong, TFG

Swine feed

Share %

24%

Notes

CPF, Betagro, TFG; rebuild post-ASF

Aquafeed (shrimp, fish)

Share %

16%

Notes

Thai Union Feedmill, CPF aquafeed, Skretting

Pet food (dry, wet, treats)

Share %

Notes

CP Foods pet, Thai Union i-Tail, ICC, Inter-Pacific

Ruminant feed (dairy, beef)

Share %

Notes

Chokchai, regional dairy co-ops, mid-tier mills

Specialty, insect protein, other

Share %

Notes

ICEA, EntoBites, premix specialists

Species channel	Share %	Notes
Poultry feed (broiler, layer)	42%	CPF, Betagro, GFPT, Laemthong, TFG
Swine feed	24%	CPF, Betagro, TFG; rebuild post-ASF
Aquafeed (shrimp, fish)	16%	Thai Union Feedmill, CPF aquafeed, Skretting
Pet food (dry, wet, treats)	8%	CP Foods pet, Thai Union i-Tail, ICC, Inter-Pacific
Ruminant feed (dairy, beef)	7%	Chokchai, regional dairy co-ops, mid-tier mills
Specialty, insect protein, other	3%	ICEA, EntoBites, premix specialists

TFMA, listed 56-1, UN Comtrade, operator disclosures

Data as of: FY2024

Analyst framing

Why this report

Thai feed is integrated and protein-pegged. CPF, Betagro, TFG, GFPT, Laemthong and Thai Union Feedmill capture the integrated value pool; Cargill Provimi and Nutreco/Trouw run the third-party specialty layer; ICEA and EntoBites are the alternative-protein wedge. Soymeal and corn imports plus DLD and FDA registration regimes are the binding operating variables.

Operator playbooks

CP Foods (SET: CPF, integrated): CPF is the structural leader with an estimated 25% share of integrated Thai feed manufacture. The feed segment is operationally captive to CPF's own poultry, swine, aquaculture and pet-food chains, with merchant sales accounting for a minority share. CPF aquafeed runs a dedicated extrusion footprint and is Thailand's largest aquafeed manufacturer by tonnage; CPF Pet Food Division is the fastest-growing internal channel. Strategic significance: CPF's scale advantage compresses formula cost via direct purchasing of soybean meal, corn and cassava chip at sub-mill economics.

Betagro (SET: BTG): Betagro operates an integrated swine, poultry and aquafeed footprint with feed-segment revenue exceeding THB 30B. Mill footprint spans Lopburi, Lamphun, Nakhon Ratchasima; feed serves Betagro's own farms plus contract growers. Strategic positioning: number-two in the integrated tier, with disciplined SKU rationalisation and an aquafeed adjacency that intersects shrimp-export demand. Thai Foods Group (SET: TFG): TFG runs integrated swine and poultry feed; FY2024 disclosures show recovery from ASF disruption and a swine-rebuild capex cycle. GFPT (SET: GFPT): GFPT's feed mill is captive to its broiler chain (Japanese-export poultry); third-party feed sales are limited.

Thai Union Feedmill (SET: TU, listed subsidiary): The Thai Union group's aquafeed arm is Thailand's listed shrimp-feed pure-play. Thai Union also operates the i-Tail pet-food business (one of the world's largest contract pet-food manufacturers) which sources protein meal back through TU's supply chain. Strategic: aquafeed margins are tied to global shrimp prices; pet food is the growth and margin diversifier. Laemthong Corporation (private): regional integrated feed-and-poultry group anchored in central Thailand; mid-tier scale, family-controlled, not publicly listed but consistently in the top tier of Thai broiler feed.

Cargill Thailand and Nutreco/Trouw (third-party specialists): Cargill operates a Saraburi feed mill plus the Provimi premix and specialty-nutrition business; product lines cover swine, poultry and aquafeed additives, plus contract feed for selected integrators. Nutreco/Trouw Nutrition serves the premix and specialty-feed market through Bangkok and regional sales; Skretting (Nutreco's aquafeed brand) supplies high-spec shrimp and fish feed especially into Vietnamese and Thai aquaculture clusters. Inter-Pacific Group and ICC International (SET: ICC, Saha Pathana group) distribute pet brands and selected premix into Thai retail. ICEA and EntoBites pioneer Thai insect-protein (black soldier fly) for aquafeed and pet-food premium applications.

Feedstock cost mechanics

Thai feed formula cost is dominated by three carbohydrate-protein inputs. Soybean meal: Thailand imports approximately 3 million tonnes annually (UN Comtrade HS 1208), sourced primarily from Brazil, Argentina and the USA; soymeal price is the single largest swing variable in formula cost. Corn: domestic Thai corn production covers approximately 4.5-5 million tonnes (Korat, Phetchabun, Loei provinces), supplemented by 1-1.5 million tonnes of imports (mostly from Myanmar plus seasonal Brazil); MoC import quotas and 3-month rolling-window policy regulate the corn-import valve to protect Thai farmer prices. Cassava chip: Thai cassava and tapioca chain supplies feed-grade chip and pellet at locally favourable economics, providing a structural carbohydrate counterweight to corn imports.

Animal protein and additive inputs follow. Fishmeal: Thai trawl by-catch fishmeal supply is constrained by EU IUU enforcement and Marine Department oversight; CPF, Thai Union and Betagro source from Peruvian fishmeal imports plus low-trophic fish substitutes. Vitamins, amino acids (lysine, methionine, threonine), enzymes and probiotics are imported via the additive majors (DSM-Firmenich, Chr. Hansen/Novonesis, Kemin, Alltech, Adisseo) plus distributed by Cargill Provimi and Nutreco/Trouw — see the parallel Animal Nutrition & Feed Tech report for the additive layer in detail. Insect protein (black soldier fly) supplied by ICEA and EntoBites is a scaling but pre-cost-parity niche — current Thai insect-protein cost remains 2-3x soymeal at pilot tonnages.

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Integrated and third-party operator playbooks, feedstock cost mechanics, DLD and FDA framework, insect-protein and pet-food growth vectors, scenarios, recommended actions, and full company list.

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Key figures

Selected anchors from the report evidence pack.

2020-2024

~THB 320B (2024)

Thailand animal feed sector revenue (2020-2024)

Thai Feed Mill Association, Office of Agricultural Economics, NESDC industrial accounts, DBD filings

FY2024 volume share estimate

~25%

Charoen Pokphand Foods (CPF) Thailand feed market share

Thai Feed Mill Association, CPF SET filings, Betagro SET filings, industry interviews

2024 production mix by tonnage

Poultry ~52%

Thailand feed production mix by livestock segment

Thai Feed Mill Association, Office of Agricultural Economics, Department of Livestock Development

2020-2024 (Thai Customs HS 2309)

~USD 2.45B (2024)

Thailand HS 2309 prepared animal feed exports (2020-2024)

Thai Customs Department, UN Comtrade, Pet Food Trade Association of Thailand, DITP

FY2024 average ex-mill

Cassava ~THB 2,600/t, Corn ~THB 10,800/t

Thailand feed-grade cassava and corn cost

Office of Agricultural Economics, Thai Feed Mill Association, Bank of Thailand commodity index

2020-2024 (Thai Customs)

~4.2M tonnes (2024)

Thailand soybean and soybean meal imports (2020-2024)

Thai Customs Department, UN Comtrade, Office of Agricultural Economics, Thai Feed Mill Association

FY2024 pilot capacity

~1,200 tonnes/yr pilot output

ICEA insect protein pilot capacity

Insect Centre of Excellence in Agriculture, Department of Livestock Development, industry interviews

FY2024 active TFMA membership

~265 registered mills

TFMA registered compound feed mill count

Thai Feed Mill Association, Department of Livestock Development, DBD operator filings

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