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The animal feed market size is projected to increase by USD 134.40 billion at a CAGR of 4.75% between 2023 and 2028. The market is experiencing significant growth, influenced by various factors. Key among these are increased investments and expanded production capacities for animal feed additives. The introduction of new products that meet changing consumer preferences and nutritional needs also supports market growth. Strategic partnerships and acquisitions play a crucial role, allowing companies to extend their reach and enhance their market presence. Together, these factors contribute to the advancement of the animal feed industry. The escalating production of meat, particularly beef, veal, and chicken, is a major driver, as companies increase output to satisfy the growing demand for animal feed vitamins. With the largest livestock population and the highest production and trade of meat products, the Asia-Pacific region is a critical market.
The market shows an accelerated CAGR during the forecast period.
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The animal feed market growth and trends report provides comprehensive data (region-wise segment analysis), with forecasts and estimates in "USD Billion" for the period 2024-2028, as well as historical data from 2018 - 2022 for the following segments.
The market share growth of the poultry segment will be significant during the forecast period. The increasing consumption of poultry meat is expected to drive demand for poultry feed throughout the forecast period. To satisfy the rising need for poultry meat, companies in the market are enhancing their poultry production efforts. Additionally, the introduction of innovative poultry feed products by these companies will contribute to the growth of the poultry feed segment during this time.
The poultry segment was valued at USD 183.80 billion in 2018.
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Poultry leads the market due to its lack of religious associations commonly linked with the consumption of beef and pork meat. Additionally, poultry is classified as white meat, which is generally perceived as a healthier option compared to red meat. Consequently, the rising demand for eggs and poultry products is expected to stimulate growth in the poultry segment throughout the forecast period. This trend is also anticipated to contribute to the expansion of the animal feed market during the same timeframe.
APAC is estimated to contribute 49% to the growth of the global market during the forecast period
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Analysts at Technavio have provided comprehensive insights into market forecasting, emphasizing regional growth and the trends that will shape the market's direction during the forecast period. In the Asia-Pacific (APAC) region, the increased production of beef, veal, and poultry is a key factor contributing to market growth. Companies in the meat sector are enhancing production capabilities to meet the rising demand for meat products. This growth in meat production will consequently drive the demand for animal products in APAC throughout the forecast period. APAC leads in the number of livestock and is a major player in the production and trade of meat products. Furthermore, the number of feed mills and feed production is on the rise, particularly in countries such as India.
These advancements highlight a contrast with the challenges faced by the North American poultry feed market, which heavily relies on imported ingredients and grapples with fluctuating prices of feed components. Nevertheless, innovations in feed additives and improved management practices are anticipated to support growth in the North American poultry feed market, aligning with regional demand trends and regulatory standards.
In livestock nutrition, the role of vitamins and antioxidants in animal feed is crucial for ensuring a nutritious diet and promoting overall health. This integration leads to significant growth and enhances the performance of animals, positively affecting the quality of swine and cattle feed. As concerns regarding meat consumption and global meat production rise, innovations in solid feed additives and molecular biology are improving feed quality while mitigating the risks of animal diseases. Data from the National Bureau of Statistics provide valuable insights into market dynamics, guiding the industry towards safer meat and dairy products and strengthening food safety practices in slaughterhouses worldwide.
Increasing investments and the expansion of production capabilities are pivotal factors driving market growth. The poultry segment, in particular, is experiencing significant advancements aimed at enhancing animal productivity through nutritious feed. Animal feed manufacturers are enhancing their production capabilities to meet this demand, with investments directed toward new facilities for vitamins, antioxidants, and trace minerals. Livestock nutrition remains a vital component of the industry, emphasizing feed quality and sustainability.
Moreover, feed manufacturing for swine, cattle, and aquaculture is subject to strict regulations to ensure animal welfare. Animal additives, including antioxidants and trace minerals, are essential for maintaining animal health and productivity. Global meat consumption is on the rise, with developing regions showing notable increases in beef and pork consumption. Soy-based diets for animals are gaining popularity due to their nutritional benefits. The market is projected to continue its favorable development, driven by evolving dietary patterns and a growing demand for sustainable protein sources. Slaughterhouses and livestock diets are fundamental elements of the meat production process, focusing on optimizing protein intake for improved animal health. Compound feed, composed of various ingredients, serves as a common solution for livestock. Additionally, rising disposable incomes and a shift toward animal-based protein diets are contributing to the growth of the animal feed market.
Growth in aquaculture significantly influences the animal feed market. The industry is experiencing a notable expansion as aquaculture, which involves the farming of aquatic organisms such as fish, crustaceans, and algae, relies on high-quality feed to support the health and optimal development of these species. This growth is propelled by factors such as the rising demand for seafood, increased consumer awareness regarding the nutritional advantages of seafood, and the introduction of innovative aquaculture feed products.
Moreover, the growing popularity of aquaponics - a system that integrates aquaculture and hydroponics to cultivate fish and plants in a mutually beneficial environment - is contributing to market development. Aquaponics systems necessitate high-quality feed for fish, leading to a demand for specialized aquaculture feed products. Overall, aquaculture is poised to further enhance the growth of the animal feed market in the upcoming years.
The growth of clean meat products presents challenges for market expansion. While consumer interest in clean meat products is rising, it may negatively impact market development during the forecast period. These products are created in laboratories using cellular technology, eliminating the need for animal slaughter. This aspect could also hinder sales of pet food during the same period. Additionally, the number of suppliers for clean meat products is on the rise globally.
In January 2021, New Wave Foods officially launched its plant-based shrimp product. As companies pursue the development of clean meat products, these initiatives may impede growth in the animal feed market throughout the forecast period.
Companies 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 forecasting growth and analysis.
The animal feed market growth and forecasting report also includes detailed analyses of the competitive landscape of the market and information about 10 market companies, including:
Adisseo Co., Alltech Inc., Archer Daniels Midland Co., Associated British Foods Plc, BASF SE, Biochem additives and product mbH, BRF, 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.
The market analysis and report of qualitative and quantitative analysis of companies 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 companies as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize companies as dominant, leading, strong, tentative, and weak.
In animal productivity and welfare, the importance of vitamins, trace minerals, and additives in animal feed is significant. Stringent regulations are influencing the feed manufacturing process, prompting industry players to innovate continuously. Developments in sustainable protein sources and feed ingredients are responding to changing livestock diets, particularly in developing areas where protein consumption is vital. Additionally, with the increase in beef and pork consumption, there is a growing interest in soy-based and nutritious animal feed premixes, reflecting evolving dietary preferences. As the industry engages in comprehensive market research and analysis, a clear picture of growth factors and market dynamics is emerging. Emphasizing animal-based protein diets, alongside considerations of digestibility and disease management, positions the market for advancement and ongoing growth in global meat consumption.
The animal feed market is experiencing significant growth, driven by the escalating global demand for meat and dairy products. The poultry sector is at the forefront of this growth, with poultry feed being essential for enhancing productivity. Cattle and swine feed also play a vital role in improving livestock nutrition and promoting overall health. The quality of feed is crucial for sustaining livestock diets, while antioxidants and effective feed additives enhance nutritional value, thus boosting meat production. Slaughterhouses depend on high-quality feed additives to comply with food safety regulations. Furthermore, advancements in molecular biology and animal nutrition support efforts in disease prevention. As global meat production increases, maintaining optimal nutrition and feed quality is essential for ensuring sustainable growth in meat consumption and the animal feed market.
Industry Scope |
|
Report Coverage |
Details |
Page number |
181 |
Base year |
2023 |
Historic period |
2018 - 2022 |
Forecast period |
2024-2028 |
Growth momentum & CAGR |
Accelerate at a CAGR of 4.75% |
Market growth 2024-2028 |
USD 134.4 billion |
Market structure |
USD Fragmented |
YoY growth 2023-2024(%) |
4.45 |
Regional analysis |
APAC, Europe, North America, South America, and Middle East and Africa |
Performing market contribution |
APAC at 49% |
Key countries |
China, US, Brazil, Russia, and Spain |
Competitive landscape |
Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks |
Key companies profiled |
Adisseo Co., Alltech Inc., Archer Daniels Midland Co., Associated British Foods Plc, BASF SE, Biochem additives and product mbH, BRF, 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. |
Market dynamics |
Parent market analysis, Market Forecasting, 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 the market forecast period |
Customization purview |
If our animal feed market forecasting 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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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 Opportunity/Restraints
11 Competitive Landscape
12 Competitive Analysis
13 Appendix
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