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Animal Feed Market by Animal Type and Geography - Forecast and Analysis 2022-2026

  • Published: May 2022
  • Pages: 120
  • SKU: IRTNTR40063
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The animal feed market share is estimated to increase by USD 124.89 billion from 2021 to 2026, and the market’s growth momentum will accelerate at a CAGR of 4.79%.

This market research report extensively covers animal feed market segmentations by the following:

  • Animal type - Poultry, swine, ruminant, aquaculture, and others
  • Geography (APAC, Europe, North America, South America, and Middle East and Africa

This animal feed market research report provides valuable insights on the post COVID-19 impact on the market, which will help companies evaluate their business approaches. The animal feed market report offers information on several market vendors, including ADDCON GmbH, Ajooni Biotechnology Ltd., Alltech Inc., Anmol Feeds Pvt. Ltd., Anpario Plc, Archer Daniels Midland Co., Balchem Corp., BASF SE, Calysta Inc., Cargill Inc., Charoen Pokphand Foods PCL, Chr Hansen Holding AS, DuPont de Nemours Inc., Evonik Industries AG, ForFarmers NV, Guangdong Haid Group Co. Ltd., Land O Lakes Inc., New Hope Group Co. Ltd., Nutreco NV, and Perdue Farms Inc. among others.

What will the Animal Feed Market Size be During the Forecast Period?

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Animal Feed Market: Key Drivers, Trends, and Challenges

Based on our research output, there has been a positive impact on the market growth during and post COVID-19 era. The increasing investments and focus on expanding production capabilities is notably driving the animal feed market growth, although factors such as the high price of non-GMO animal feed may impede the market growth. Our research analysts have studied the historical data and deduced the key market drivers and the COVID-19 pandemic impact on the animal feed industry. The holistic analysis of the drivers will help in deducing end goals and refining marketing strategies to gain a competitive edge.

Key Animal Feed Market Driver

  • The increasing investments and focus on expanding production capabilities is one of the key drivers supporting the animal feed market growth.
  • Manufacturers focus on expanding their production capabilities to cater to the growing demand for animal feed products worldwide.
  • The increase in production capacity ensures that they are well-positioned to cater to customers growing needs across markets. 
  • For instance, in October 2021, De Heus, a subsidiary of Koudijs, opened a new feed additive plant in Khylchytsi in the Lviv region, Ukraine, for $9.2 million. 
  • In April 2020, Diamond V, a subsidiary of Cargill, expanded its animal nutrition facility in Cedar Rapids to accommodate the packaging and production of its entire product line of natural immune support products for animals. Such an increasing focus on expanding production capabilities will drive the animal feed market growth during the forecast period..

Key Animal Feed Market Trend

  • The rise in global meat consumption is one of the key animal feed market trends fueling the animal feed market growth.
  • According to the OECD, the global production of meat in 2021 was 340 million tons compared to nearly 248 million tons in 2018.
  • The rise in the population also drives the global meat market and increases the production capacity and supply.
  • People have become more conscious about their protein intake in their daily diet, which has led to an increase in the consumption of meat.
  • The majority of the global rise in meat production and consumption is from APAC and MEA. Significantly, the healthy economic growth in these regions has increased the production and consumption of meat. Thus, the rise in global meat consumption will further enhance the growth of the animal feed market during the forecast period. 

Key Animal Feed Market Challenge

  • The high price of non-GMO animal feed is one of the challenges hindering the animal feed market growth.
  • Non-GMO animal feed products such as soya are sold at a premium price globally.
  • Due to the increasing consumer expectations and demand for non-GMO feed, several vendors in Europe import non-GMO feed products from countries such as Brazil and sell them at premium prices to end-users.
  • Many livestock farmers depend on GMO animal feed products owing to their low cost and easy availability.
  • Small livestock farmers with low-profit margins do not prefer high-priced non-GMO feed. Such a shift in preference will limit the animal feed market growth during the forecast period.

This animal feed market analysis report also provides detailed information on other upcoming trends and challenges that will have a far-reaching effect on the market growth. The actionable insights on the trends and challenges will help companies evaluate and develop growth strategies for 2022-2026.

Parent Market Analysis

Technavio categorizes the global animal feed market as a part of the global agricultural products market. Our research report has extensively covered external factors influencing the parent market growth potential in the coming years, which will determine the levels of growth of the animal feed market during the forecast period.

Who are the Major Animal Feed Market Vendors?

The report analyzes the market’s competitive landscape and offers information on several market vendors, including:

 

  • ADDCON GmbH
  • Ajooni Biotechnology Ltd.
  • Alltech Inc.
  • Anmol Feeds Pvt. Ltd.
  • Anpario Plc
  • Archer Daniels Midland Co.
  • Balchem Corp.
  • BASF SE
  • Calysta Inc.
  • Cargill Inc.
  • Charoen Pokphand Foods PCL
  • Chr Hansen Holding AS
  • DuPont de Nemours Inc.
  • Evonik Industries AG
  • ForFarmers NV
  • Guangdong Haid Group Co. Ltd.
  • Land O Lakes Inc.
  • New Hope Group Co. Ltd.
  • Nutreco NV
  • Perdue Farms Inc.

 

This statistical study of the animal feed market encompasses successful business strategies deployed by the key vendors. The animal feed market is fragmented and the vendors are deploying organic and inorganic growth strategies to compete in the market.

Product Insights and News

  • Adm.com - The company offers high-quality animal feed for all species, including beef, dairy, equine, swine, pets, layers, broilers, rabbits, and shrimp.
  • Cargill.com - The company offers high-quality animal feed, through its brands such as Diamond V, EWOS, Nutrena, and Purina.
  • Cpfworldwide.com - The company offers animal feed products such as swine feeds, chicken feeds, duck feeds, shrimp feeds and fish feed.

To make the most of the opportunities and recover from post COVID-19 impact, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.

The animal feed market forecast report offers in-depth insights into key vendor profiles. The profiles include information on the production, sustainability, and prospects of the leading companies.

Animal Feed Market Value Chain Analysis

Our report provides extensive information on the value chain analysis for the animal feed market, which vendors can leverage to gain a competitive advantage during the forecast period. The end-to-end understanding of the value chain is essential in profit margin optimization and evaluation of business strategies. The data available in our value chain analysis segment can help vendors drive costs and enhance customer services during the forecast period.

Which are the Key Regions for Animal Feed Market?

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47% of the market’s growth will originate from APAC during the forecast period. China and India are the key markets for the animal feed market in APAC. Market growth in this region will be faster than the growth of the market in other regions.

The increasing production of beef, veal, and chicken meat will facilitate the animal feed market growth in APAC over the forecast period. This market research report entails detailed information on the competitive intelligence, marketing gaps, and regional opportunities in store for vendors, which will assist in creating efficient business plans.

COVID Impact and Recovery Analysis

The outbreak of COVID-19 hampered the growth of the regional animal feed market in 2020. However, the market is expected to gain momentum during the forecast period due to the large consumption of meat products which would bolster the regional demand for meat and, consequently, animal feed in the region during the forecast period.

What are the Revenue-generating Animal Type Segments in the Animal Feed Market?

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The animal feed market share growth by the poultry segment will be significant during the forecast period. Poultry dominates the meat market worldwide as it is free from the religious implications that are normally associated with beef and pork. The important markets for poultry meat are the key emerging countries, such as China, Brazil, and India, that have a high population. In addition, poultry comes under the white meat category, which is considered healthier for consumption compared with red meat. Such health benefits of poultry will drive the animal feed market growth during the forecast period.

This report provides an accurate prediction of the contribution of all the segments to the growth of the animal feed market size and actionable market insights on post COVID-19 impact on each segment.

 

Animal Feed Market Scope

Report Coverage

Details

Page number

120

Base year

2021

Forecast period

2022-2026

Growth momentum & CAGR

Accelerate at a CAGR of 4.79%

Market growth 2022-2026

$ 124.89 billion

Market structure

Fragmented

YoY growth (%)

4.07

Regional analysis

APAC, Europe, North America, South America, and Middle East and Africa

Performing market contribution

APAC at 47%

Key consumer countries

US, China, India, Russia, Spain, and Brazil

Competitive landscape

Leading companies, Competitive strategies, Consumer engagement scope

Key companies profiled

ADDCON GmbH, Ajooni Biotechnology Ltd., Alltech Inc., Anmol Feeds Pvt. Ltd., Anpario Plc, Archer Daniels Midland Co., Balchem Corp., BASF SE, Calysta Inc., Cargill Inc., Charoen Pokphand Foods PCL, Chr Hansen Holding AS, DuPont de Nemours Inc., Evonik Industries AG, ForFarmers NV, Guangdong Haid Group Co. Ltd., Land O Lakes Inc., New Hope Group Co. Ltd., Nutreco NV, and Perdue Farms Inc.

Market dynamics

Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID 19 impact and recovery analysis and future consumer dynamics, Market condition analysis for forecast period

Customization purview

If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized.

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What are the Key Data Covered in this Animal Feed Market Report?

  • CAGR of the market during the forecast period 2022-2026
  • Detailed information on factors that will drive animal feed market growth during the next five years
  • Precise estimation of the animal feed market size and its contribution to the parent market
  • Accurate predictions on upcoming trends and changes in consumer behavior
  • The growth of the animal feed industry across APAC, Europe, North America, South America, and Middle East and Africa
  • A thorough analysis of the market’s competitive landscape and detailed information on vendors
  • Comprehensive details of factors that will challenge the growth of animal feed market vendors

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1 Executive Summary

  • 1.1 Market overview
    • Exhibit 01: Executive Summary – Chart on Market Overview
    • Exhibit 02: Executive Summary – Data Table on Market Overview
    • Exhibit 03: Executive Summary – Chart on Global Market Characteristics
    • Exhibit 04: Executive Summary – Chart on Market by Geography
    • Exhibit 05: Executive Summary – Chart on Market Segmentation by Animal Type
    • Exhibit 06: Executive Summary – Chart on Incremental Growth
    • Exhibit 07: Executive Summary – Data Table on Incremental Growth
    • Exhibit 08: Executive Summary – Chart on Vendor Market Positioning

2 Market Landscape

  • 2.1 Market ecosystem
    • Exhibit 09: Parent market
    • Exhibit 10: Market Characteristics

3 Market Sizing

  • 3.1 Market definition
    • Exhibit 11: Offerings of vendors included in the market definition
  • 3.2 Market segment analysis
    • Exhibit 12: Market segments
  • 3.3 Market size 2021
    • 3.4 Market outlook: Forecast for 2021-2026
      • Exhibit 13: Chart on Global - Market size and forecast 2021-2026 ($ billion)
      • Exhibit 14: Data Table on Global - Market size and forecast 2021-2026 ($ billion)
      • Exhibit 15: Chart on Global Market: Year-over-year growth 2021-2026 (%)
      • Exhibit 16: Data Table on Global Market: Year-over-year growth 2021-2026 (%)

    4 Five Forces Analysis

    • 4.1 Five forces summary
      • Exhibit 17: Five forces analysis - Comparison between2021 and 2026
    • 4.2 Bargaining power of buyers
      • Exhibit 18: Chart on Bargaining power of buyers – Impact of key factors 2021 and 2026
    • 4.3 Bargaining power of suppliers
      • Exhibit 19: Bargaining power of suppliers – Impact of key factors in 2021 and 2026
    • 4.4 Threat of new entrants
      • Exhibit 20: Threat of new entrants – Impact of key factors in 2021 and 2026
    • 4.5 Threat of substitutes
      • Exhibit 21: Threat of substitutes – Impact of key factors in 2021 and 2026
    • 4.6 Threat of rivalry
      • Exhibit 22: Threat of rivalry – Impact of key factors in 2021 and 2026
    • 4.7 Market condition
      • Exhibit 23: Chart on Market condition - Five forces 2021 and 2026

    5 Market Segmentation by Animal Type

    • 5.1 Market segments
      • Exhibit 24: Chart on Animal Type - Market share 2021-2026 (%)
      • Exhibit 25: Data Table on Animal Type - Market share 2021-2026 (%)
    • 5.2 Comparison by Animal Type
      • Exhibit 26: Chart on Comparison by Animal Type
      • Exhibit 27: Data Table on Comparison by Animal Type
    • 5.3 Poultry - Market size and forecast 2021-2026
      • Exhibit 28: Chart on Poultry - Market size and forecast 2021-2026 ($ billion)
      • Exhibit 29: Data Table on Poultry - Market size and forecast 2021-2026 ($ billion)
      • Exhibit 30: Chart on Poultry - Year-over-year growth 2021-2026 (%)
      • Exhibit 31: Data Table on Poultry - Year-over-year growth 2021-2026 (%)
    • 5.4 Swine - Market size and forecast 2021-2026
      • Exhibit 32: Chart on Swine - Market size and forecast 2021-2026 ($ billion)
      • Exhibit 33: Data Table on Swine - Market size and forecast 2021-2026 ($ billion)
      • Exhibit 34: Chart on Swine - Year-over-year growth 2021-2026 (%)
      • Exhibit 35: Data Table on Swine - Year-over-year growth 2021-2026 (%)
    • 5.5 Ruminant - Market size and forecast 2021-2026
      • Exhibit 36: Chart on Ruminant - Market size and forecast 2021-2026 ($ billion)
      • Exhibit 37: Data Table on Ruminant - Market size and forecast 2021-2026 ($ billion)
      • Exhibit 38: Chart on Ruminant - Year-over-year growth 2021-2026 (%)
      • Exhibit 39: Data Table on Ruminant - Year-over-year growth 2021-2026 (%)
    • 5.6 Aquaculture - Market size and forecast 2021-2026
      • Exhibit 40: Chart on Aquaculture - Market size and forecast 2021-2026 ($ billion)
      • Exhibit 41: Data Table on Aquaculture - Market size and forecast 2021-2026 ($ billion)
      • Exhibit 42: Chart on Aquaculture - Year-over-year growth 2021-2026 (%)
      • Exhibit 43: Data Table on Aquaculture - Year-over-year growth 2021-2026 (%)
    • 5.7 Others - Market size and forecast 2021-2026
      • Exhibit 44: Chart on Others - Market size and forecast 2021-2026 ($ billion)
      • Exhibit 45: Data Table on Others - Market size and forecast 2021-2026 ($ billion)
      • Exhibit 46: Chart on Others - Year-over-year growth 2021-2026 (%)
      • Exhibit 47: Data Table on Others - Year-over-year growth 2021-2026 (%)
    • 5.8 Market opportunity by Animal Type
      • Exhibit 48: Market opportunity by Animal Type ($ billion)

    6 Customer Landscape

    • 6.1 Customer landscape overview
      • Exhibit 49: Analysis of price sensitivity, lifecycle, customer purchase basket, adoption rates, and purchase criteria

    7 Geographic Landscape

    • 7.1 Geographic segmentation
      • Exhibit 50: Chart on Market share by geography 2021-2026 (%)
      • Exhibit 51: Data Table on Market share by geography 2021-2026 (%)
    • 7.2 Geographic comparison
      • Exhibit 52: Chart on Geographic comparison
      • Exhibit 53: Data Table on Geographic comparison
    • 7.3 APAC - Market size and forecast 2021-2026
      • Exhibit 54: Chart on APAC - Market size and forecast 2021-2026 ($ billion)
      • Exhibit 55: Data Table on APAC - Market size and forecast 2021-2026 ($ billion)
      • Exhibit 56: Chart on APAC - Year-over-year growth 2021-2026 (%)
      • Exhibit 57: Data Table on APAC - Year-over-year growth 2021-2026 (%)
    • 7.4 Europe - Market size and forecast 2021-2026
      • Exhibit 58: Chart on Europe - Market size and forecast 2021-2026 ($ billion)
      • Exhibit 59: Data Table on Europe - Market size and forecast 2021-2026 ($ billion)
      • Exhibit 60: Chart on Europe - Year-over-year growth 2021-2026 (%)
      • Exhibit 61: Data Table on Europe - Year-over-year growth 2021-2026 (%)
    • 7.5 North America - Market size and forecast 2021-2026
      • Exhibit 62: Chart on North America - Market size and forecast 2021-2026 ($ billion)
      • Exhibit 63: Data Table on North America - Market size and forecast 2021-2026 ($ billion)
      • Exhibit 64: Chart on North America - Year-over-year growth 2021-2026 (%)
      • Exhibit 65: Data Table on North America - Year-over-year growth 2021-2026 (%)
    • 7.6 South America - Market size and forecast 2021-2026
      • Exhibit 66: Chart on South America - Market size and forecast 2021-2026 ($ billion)
      • Exhibit 67: Data Table on South America - Market size and forecast 2021-2026 ($ billion)
      • Exhibit 68: Chart on South America - Year-over-year growth 2021-2026 (%)
      • Exhibit 69: Data Table on South America - Year-over-year growth 2021-2026 (%)
    • 7.7 Middle East and Africa - Market size and forecast 2021-2026
      • Exhibit 70: Chart on Middle East and Africa - Market size and forecast 2021-2026 ($ billion)
      • Exhibit 71: Data Table on Middle East and Africa - Market size and forecast 2021-2026 ($ billion)
      • Exhibit 72: Chart on Middle East and Africa - Year-over-year growth 2021-2026 (%)
      • Exhibit 73: Data Table on Middle East and Africa - Year-over-year growth 2021-2026 (%)
    • 7.8 China - Market size and forecast 2021-2026
      • Exhibit 74: Chart on China - Market size and forecast 2021-2026 ($ billion)
      • Exhibit 75: Data Table on China - Market size and forecast 2021-2026 ($ billion)
      • Exhibit 76: Chart on China - Year-over-year growth 2021-2026 (%)
      • Exhibit 77: Data Table on China - Year-over-year growth 2021-2026 (%)
    • 7.9 US - Market size and forecast 2021-2026
      • Exhibit 78: Chart on US - Market size and forecast 2021-2026 ($ billion)
      • Exhibit 79: Data Table on US - Market size and forecast 2021-2026 ($ billion)
      • Exhibit 80: Chart on US - Year-over-year growth 2021-2026 (%)
      • Exhibit 81: Data Table on US - Year-over-year growth 2021-2026 (%)
    • 7.10 Brazil - Market size and forecast 2021-2026
      • Exhibit 82: Chart on Brazil - Market size and forecast 2021-2026 ($ billion)
      • Exhibit 83: Data Table on Brazil - Market size and forecast 2021-2026 ($ billion)
      • Exhibit 84: Chart on Brazil - Year-over-year growth 2021-2026 (%)
      • Exhibit 85: Data Table on Brazil - Year-over-year growth 2021-2026 (%)
    • 7.11 Russia - Market size and forecast 2021-2026
      • Exhibit 86: Chart on Russia - Market size and forecast 2021-2026 ($ billion)
      • Exhibit 87: Data Table on Russia - Market size and forecast 2021-2026 ($ billion)
      • Exhibit 88: Chart on Russia - Year-over-year growth 2021-2026 (%)
      • Exhibit 89: Data Table on Russia - Year-over-year growth 2021-2026 (%)
    • 7.12 Spain - Market size and forecast 2021-2026
      • Exhibit 90: Chart on Spain - Market size and forecast 2021-2026 ($ billion)
      • Exhibit 91: Data Table on Spain - Market size and forecast 2021-2026 ($ billion)
      • Exhibit 92: Chart on Spain - Year-over-year growth 2021-2026 (%)
      • Exhibit 93: Data Table on Spain - Year-over-year growth 2021-2026 (%)
    • 7.13 India - Market size and forecast 2021-2026
      • Exhibit 94: Chart on India - Market size and forecast 2021-2026 ($ billion)
      • Exhibit 95: Data Table on India - Market size and forecast 2021-2026 ($ billion)
      • Exhibit 96: Chart on India - Year-over-year growth 2021-2026 (%)
      • Exhibit 97: Data Table on India - Year-over-year growth 2021-2026 (%)
    • 7.14 Market opportunity by geography
      • Exhibit 98: Market opportunity by geography ($ billion)

    8 Drivers, Challenges, and Trends

    • 8.1 Market drivers
      • 8.2 Market challenges
        • 8.3 Impact of drivers and challenges
          • Exhibit 99: Impact of drivers and challenges in 2021 and 2026
        • 8.4 Market trends

          9 Vendor Landscape

          • 9.1 Overview
            • 9.2 Vendor landscape
              • Exhibit 100: Overview on Criticality of inputs and Factors of differentiation
            • 9.3 Landscape disruption
              • Exhibit 101: Overview on factors of disruption
            • 9.4 Industry risks
              • Exhibit 102: Impact of key risks on business

            10 Vendor Analysis

            • 10.1 Vendors covered
              • Exhibit 103: Vendors covered
            • 10.2 Market positioning of vendors
              • Exhibit 104: Matrix on vendor position and classification
            • 10.3 Archer Daniels Midland Co.
              • Exhibit 105: Archer Daniels Midland Co. - Overview
              • Exhibit 106: Archer Daniels Midland Co. - Business segments
              • Exhibit 107: Archer Daniels Midland Co. - Key offerings
              • Exhibit 108: Archer Daniels Midland Co. - Segment focus
            • 10.4 Cargill Inc.
              • Exhibit 109: Cargill Inc. - Overview
              • Exhibit 110: Cargill Inc. - Product / Service
              • Exhibit 111: Cargill Inc. - Key news
              • Exhibit 112: Cargill Inc. - Key offerings
            • 10.5 Charoen Pokphand Foods PCL
              • Exhibit 113: Charoen Pokphand Foods PCL - Overview
              • Exhibit 114: Charoen Pokphand Foods PCL - Business segments
              • Exhibit 115: Charoen Pokphand Foods PCL - Key offerings
              • Exhibit 116: Charoen Pokphand Foods PCL - Segment focus
            • 10.6 Evonik Industries AG
              • Exhibit 117: Evonik Industries AG - Overview
              • Exhibit 118: Evonik Industries AG - Business segments
              • Exhibit 119: Evonik Industries AG - Key news
              • Exhibit 120: Evonik Industries AG - Key offerings
              • Exhibit 121: Evonik Industries AG - Segment focus
            • 10.7 ForFarmers NV
              • Exhibit 122: ForFarmers NV - Overview
              • Exhibit 123: ForFarmers NV - Business segments
              • Exhibit 124: ForFarmers NV - Key offerings
              • Exhibit 125: ForFarmers NV - Segment focus
            • 10.8 Guangdong Haid Group Co. Ltd.
              • Exhibit 126: Guangdong Haid Group Co. Ltd. - Overview
              • Exhibit 127: Guangdong Haid Group Co. Ltd. - Business segments
              • Exhibit 128: Guangdong Haid Group Co. Ltd. - Key offerings
              • Exhibit 129: Guangdong Haid Group Co. Ltd. - Segment focus
            • 10.9 Land O Lakes Inc.
              • Exhibit 130: Land O Lakes Inc. - Overview
              • Exhibit 131: Land O Lakes Inc. - Product / Service
              • Exhibit 132: Land O Lakes Inc. - Key offerings
            • 10.10 New Hope Group Co. Ltd.
              • Exhibit 133: New Hope Group Co. Ltd. - Overview
              • Exhibit 134: New Hope Group Co. Ltd. - Product / Service
              • Exhibit 135: New Hope Group Co. Ltd. - Key offerings
            • 10.11 Nutreco NV
              • Exhibit 136: Nutreco NV - Overview
              • Exhibit 137: Nutreco NV - Product / Service
              • Exhibit 138: Nutreco NV - Key news
              • Exhibit 139: Nutreco NV - Key offerings
            • 10.12 Perdue Farms Inc.
              • Exhibit 140: Perdue Farms Inc. - Overview
              • Exhibit 141: Perdue Farms Inc. - Product / Service
              • Exhibit 142: Perdue Farms Inc. - Key offerings

            11 Appendix

            • 11.1 Scope of the report
              • 11.2 Inclusions and exclusions checklist
                • Exhibit 143: Inclusions checklist
                • Exhibit 144: Exclusions checklist
              • 11.3 Currency conversion rates for US$
                • Exhibit 145: Currency conversion rates for US$
              • 11.4 Research methodology
                • Exhibit 146: Research methodology
                • Exhibit 147: Validation techniques employed for market sizing
                • Exhibit 148: Information sources
              • 11.5 List of abbreviations
                • Exhibit 149: List of abbreviations
              • impact: The COVID-19 pandemic had a significant impact on the agricultural products market. The COVID-19 pandemic resulted in restrictions on the movement of workers who work in agricultural fields, changes in consumer demand, temporary closure of food production facilities, restricted trade in agricultural food products, and financial pressure on the overall agricultural products supply chain. Also, with a collapse in demand from restaurants, hotels, catering services, and the closure of open markets, the demand for agricultural products declined in 2020. However, as agricultural products are a basic necessity, the level of demand for agricultural products has been less affected by the COVID-19 pandemic when compared with other goods. The agricultural products market is expected to recover in 2021 and will grow at a moderate pace during the forecast period. The major reasons for the recovery of the agricultural products market are the relaxation of lockdown norms, the gradually reopening of the market in several countries, keeping social distancing norms in place, and the economic stimulus package announced by the governments of various countries.

                Research Framework

                Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. The analysts have presented the various facets of the market with a particular focus on identifying the key industry influencers. The data thus presented is comprehensive, reliable, and the result of extensive research, both primary and secondary.

                TechnavioINFORMATION SOURCES

                Primary sources

                • Manufacturers and suppliers
                • Channel partners
                • Industry experts
                • Strategic decision makers

                Secondary sources

                • Industry journals and periodicals
                • Government data
                • Financial reports of key industry players
                • Historical data
                • Press releases
                Technavio

                TechnavioDATA ANALYSIS

                Data Synthesis

                • Collation of data
                • Estimation of key figures
                • Analysis of derived insights

                Data Validation

                • Triangulation with data models
                • Reference against proprietary databases
                • Corroboration with industry experts
                Technavio

                TechnavioREPORT WRITING

                Qualitative

                • Market drivers
                • Market challenges
                • Market trends
                • Five forces analysis

                Quantitative

                • Market size and forecast
                • Market segmentation
                • Geographical insights
                • Competitive landscape
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                The animal feed market market growth will increase by $$ 124.89 bn during 2023-2026.
                The animal feed market market is expected to grow at a CAGR of 4.79% during 2023-2026.
                Technavio has segmented the animal feed market market by geography (APAC, Europe, North America, South America, Middle East and Africa, APAC, Europe, North America, South America, and Middle East and Africa) and geographic (APAC, Europe, North America, South America, and MEA).
                ADDCON GmbH, Ajooni Biotechnology Ltd., Alltech Inc., Anmol Feeds Pvt. Ltd., Anpario Plc, Archer Daniels Midland Co., Balchem Corp., BASF SE, Calysta Inc., Cargill Inc., Charoen Pokphand Foods PCL, Chr Hansen Holding AS, DuPont de Nemours Inc., Evonik Industries AG, ForFarmers NV, Guangdong Haid Group Co. Ltd., Land O Lakes Inc., New Hope Group Co. Ltd., Nutreco NV, Perdue Farms Inc. are a few of the key vendors in the animal feed market market.
                APAC will register the highest growth rate of 47% among the other regions. Therefore, the animal feed market market in APAC is expected to garner significant business opportunities for the vendors during the forecast period.
                • US
                • China
                • India
                • Russia
                • Spain
                • Brazil
                The key factors driving the animal feed market market growth are:
                The animal feed market market vendors should focus on grabbing business opportunities from the apac segment as it accounted for the largest market share in the base year.
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