Animal Feed Market Outlook
Animal feed is a type of food that is given to livestock, such as poultry, cattle, pigs, and fish. It is formulated to provide the essential nutrients that these animals need for their growth, development, and health. Animal feed can be made from a variety of ingredients, including grains, proteins, vitamins, and minerals Animal Feed Market Size was valued at USD 5,48,784.8 million in 2021. The animal feed market industry is projected to grow from USD 5,73,480.1 million in 2022 to USD 7,80,427.2 million by 2030, exhibiting a compound annual growth rate (CAGR) of 4.72% during the forecast period (2022 – 2030).
The animal feed market can be divided into two main segments: commercial feed and non-commercial feed. Commercial feed is produced and sold by commercial feed companies, while non-commercial feed is produced and consumed on-farm.
Trends in the animal feed market
A number of trends are shaping the animal feed market, including:
Growing demand for sustainable feed: Consumers are increasingly demanding food that is produced in a sustainable way. This is leading to a growing demand for sustainable animal feed.
Increasing use of technology: Technology is playing an increasingly important role in the animal feed industry. For example, companies are using technology to develop new feed formulations and delivery systems.
Rising demand for feed additives: Feed additives are used to improve the nutritional value, digestibility, performance, or health of animals. The demand for feed additives is growing due to the increasing awareness of the importance of animal welfare and nutrition.
Animal Feed Market Size was valued at USD 5,48,784.8 million in 2021. The animal feed market industry is projected to grow from USD 5,73,480.1 million in 2022 to USD 7,80,427.2 million by 2030, exhibiting a compound annual growth rate (CAGR) of 4.72% during the forecast period (2022 – 2030). During the forecast period, driven by the rising demand for animal protein, the increasing commercial livestock production, and the growing concerns about animal health and welfare.
The growing concerns about animal health and welfare are also contributing to the growth of the animal feed market Size. Consumers are increasingly demanding that animals be raised in a humane and sustainable manner. This is driving the demand for animal feeds that are formulated with high-quality ingredients and that do not contain harmful chemicals.
Key Companies in the animal feed market include
Neovia Group (France),Archer Daniels Midland (ADM) Company (U.S.),COFCO Limited (Hong Kong),New Hope Group (China),ForFarmers N.V. (The Netherlands),Charoen Pokphand Group (Thailand),Cargill Inc. (U.S.),Japfa Comfeed Indonesia Tbk (Indonesia),NUTRECO N.V. (The Netherlands), Land ‘O Lakes Inc. (U.S.), among others
The commercial feed segment is the larger of the two segments, accounting for over 80% of the global animal feed market. Commercial feed is typically produced in large factories and is sold to farmers and other livestock producers.
There are a variety of different types of commercial feed available, including:
Complete feed: Complete feed is a balanced diet that contains all of the nutrients that animals need to survive and thrive.
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Supplemental feed: Supplemental feed is used to supplement the nutrients that animals receive from their primary diet.
Specialty feed: Specialty feed is designed to meet the specific needs of certain types of animals, such as lactating cows or growing pigs.
The non-commercial feed segment consists of feed that is produced and consumed on-farm. This type of feed is typically made up of homegrown grains, forages, and other agricultural products.
The animal feed market is segmented by animal type, product type, and region. The animal type segment is further divided into poultry, ruminants, swine, aquaculture, and others. The poultry segment is the largest segment, accounting for most of the market share. This is due to the high demand for poultry meat, eggs, and feathers.
The product type segment is divided into medicated and non-medicated animal feed. The medicated animal feed segment is expected to grow at a faster rate during the forecast period, due to the increasing prevalence of diseases in livestock.
The regional segment includes North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. Asia Pacific is the largest market for animal feed, followed by North America and Europe. The growth of the Asia Pacific market is driven by the growing demand for animal protein in countries such as China, India, and Indonesia. The animal feed market is expected to continue to grow in the coming years, driven by the factors mentioned above. The market is expected to witness significant growth in the Asia Pacific region, due to the rising demand for animal protein in the region.
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