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The animal feed market size is estimated to grow at a CAGR of 5.34% between 2022 and 2027. The market size is forecast to increase by USD 146.56 billion. The growth of the market depends on several factors, including increasing investments and expansion of production capabilities, new product launches, and a growing number of strategic partnerships and acquisitions.
This animal feed market report extensively covers market segmentation by type (poultry, swine, ruminant, aquaculture, and others), product (pellets, mash, and crumbles), and geography (APAC, Europe, North America, South America, and Middle East and Africa). It also includes an in-depth analysis of drivers, trends, and challenges. Furthermore, the report includes historic market data from 2017 to 2021.
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The increasing investments and expansion of production capabilities are notably driving the market growth, although the development of clean meat products may impede the market growth. Our researchers analyzed the data with 2022 as the base year, along with the key drivers, trends, and challenges. A holistic analysis of drivers will help companies refine their marketing strategies to gain a competitive advantage.
Increasing investments and expansion of production capabilities are notably driving the animal feed market growth. Manufacturers are focusing on expanding production capacity to meet the growing global demand for animal feed products. They are also finding tremendous growth opportunities in all global markets due to the increasing demand for meat products. The increased capacity will enable market providers to meet growing customer demand in all markets around the world.
In October 2021, Koudijs subsidiary De Heus opened a new feed additive plant in Kirchtsi, Lviv Oblast, Ukraine for USD 9.2 million. In April 2020, Cargill subsidiary Diamond V expanded its pet nutrition manufacturing facility in Cedar Rapids, USA, to package and produce a full line of natural animal immune support products. The expansion of the product line was fueled by his USD 29.1 million investment in adding 100,000 square feet of space to the company's south facility. Therefore, increased investment and focus by market vendors on expanding production capacity will drive the growth of the market during the forecast period.
Growth in aquaculture is a key trend influencing the animal feed market growth. The market is witnessing a significant growth trend in aquaculture. Aquaculture is the farming of aquatic organisms such as fish, crustaceans, and algae and requires the use of high-quality feed to ensure the optimal growth and health of these aquatic organisms. The growth of aquaculture is driven by factors such as increasing demand for seafood, growing consumer awareness of the nutritional benefits of seafood, and the development of new and innovative aquaculture feed products.
Additionally, the increasing popularity of aquaponics, a system that combines aquaculture and hydroponics to grow fish and plants in a symbiotic environment, is also contributing to the growth of the market. Aquaponics systems require high-quality feed for fish, creating demand for specialized aquaculture feed products. Overall, growth in aquaculture is expected to further drive the growth of the market during the forecast period.
The development of clean meat products is challenging the animal feed market growth. Increasing consumer demand for clean meat products is one of the factors that may adversely affect the growth of the market during the forecast period. Pure meat products are developed in laboratories using cellular technology. Therefore, the development process does not include animal slaughter. This factor may adversely affect sales of pet food products during the forecast period. The number of suppliers of clean meat products is increasing worldwide.
In January 2021, New Wave Foods announced the official launch of its plant-based shrimp product. Therefore, initiatives by vendors to develop clean meat products are likely to hamper the growth of the market during the forecast period.
The report includes the adoption lifecycle of the market, covering from the innovator’s stage to the laggard’s stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their growth strategies.
Global Animal Feed Market Customer Landscape
Vendors are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market.
Alltech Inc: The company offers different types of animal nutrition products for cows, poultry, aquaculture, pig, equine, and pet.
The report also includes detailed analyses of the competitive landscape of the market and information about 15 market vendors, including:
Qualitative and quantitative analysis of vendors has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize vendors as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize vendors as dominant, leading, strong, tentative, and weak.
The market share growth by the poultry segment will be significant during the forecast period. Rising consumption of poultry meat will boost the demand for poultry feed products during the forecast period. To meet the growing demand for poultry meat, market vendors are ramping up poultry production. The introduction of new poultry feed products by market vendors will also drive the growth of the poultry feed segment during the forecast period.
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The poultry segment was valued at USD 178.48 billion in 2017 and continued to grow until 2021. Poultry dominates the market because it does not have the religious connotations normally associated with eating beef or pork. Moreover, poultry falls into the white meat category, which is considered healthier for humans than red meat. Therefore, increasing demand for eggs and poultry meat will drive the growth of the poultry segment during the forecast period. It is also expected to boost the growth of the market during the forecast period.
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APAC is estimated to contribute 46% to the growth of the global animal feed market during the forecast period. Technavio’s analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period.
The rising production of beef, veal, and poultry in APAC is one of the factors driving the growth of the market during the forecast period. Meat market vendors are ramping up production to meet the growing demand for meat products. In turn, increased meat production will increase the demand for animal products in APAC during the forecast period. APAC has the largest number of livestock and is responsible for the largest production and trade of meat products. Additionally, the number of feed mills and feed production is increasing, especially in countries like India.
Moreover, the COVID-19 outbreak hampered the growth of the market in 2020. Partial or full lockdowns due to the pandemic affected various countries across the world. All end-user industries such as consumer goods, pharmaceuticals, personal care, and chemicals were severely impacted as manufacturing facilities got closed or shut down. However, the market is expected to gain momentum during the forecast period due to the increased consumption of meat products.
The animal feed market report forecasts market growth by revenue at global, regional & country levels and provides an analysis of the latest trends and growth opportunities from 2017 to 2027.
Technavio categorizes the global animal feed market as a part of the global packaged foods and meats market under the global food products segment of the global food, beverage, and tobacco market. The global packaged foods and meats market includes food processing manufacturers or suppliers involved in food processing to eliminate microorganisms and extend shelf life. Technavio calculates the global packaged foods and meat market size based on the total revenue of the vendors operating in the market. The market does not include manufacturers of food processing equipment.
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Animal Feed Market Scope |
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Report Coverage |
Details |
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Page number |
171 |
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Base year |
2022 |
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Historic period |
2017-2021 |
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Forecast period |
2023-2027 |
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Growth momentum & CAGR |
Accelerate at a CAGR of 5.34% |
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Market growth 2023-2027 |
USD 146.56 billion |
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Market structure |
Fragmented |
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YoY growth 2022-2023(%) |
4.33 |
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Regional analysis |
APAC, Europe, North America, South America, and Middle East and Africa |
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Performing market contribution |
APAC at 46% |
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Key countries |
US, China, Russia, Spain, and Brazil |
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Competitive landscape |
Leading vendors, market positioning of vendors, competitive strategies, and industry risks |
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Key companies profiled |
Alltech Inc., Archer Daniels Midland Co., Associated British Foods Plc, BASF SE, Biochem additives and product mbH, Bluestar Adisseo Co., BRF SA, Cargill Inc., Charoen Pokphand Foods PCL, Chr Hansen Holding AS, Corbion nv, Evonik Industries AG, International Flavors and Fragrances Inc., Jefo, Kemin Industries Inc., Kent Nutrition Group Inc., Land O Lakes Inc., New Hope Group Co. Ltd., Trouw Nutrition, and Tyson Foods Inc. |
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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 |
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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. |
We can help! Our analysts can customize this market research report to meet your requirements. Get in touch
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by Type
7 Market Segmentation by Product
8 Customer Landscape
9 Geographic Landscape
10 Drivers, Challenges, and Trends
11 Vendor Landscape
12 Vendor Analysis
13 Appendix
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.
INFORMATION SOURCES
Primary sources
Secondary sources
DATA ANALYSIS
Data Synthesis
Data Validation
REPORT WRITING
Qualitative
Quantitative
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