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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). Our report examines historic data from 2017 to 2021, besides analyzing the current market scenario.
Manufacturers are actively expanding their production capabilities to meet the rising global demand for animal feed products, capitalizing on growth opportunities driven by increasing meat product consumption worldwide. This expansion in production capacity positions market vendors to effectively address the growing customer needs across global markets. In October 2021, De Heus, a subsidiary of Koudijs, inaugurated a new USD 9.2 million feed additive plant in Khylchytsi, Ukraine, enhancing its production capacity. Similarly, in April 2020, Diamond V, a subsidiary of Cargill, expanded its animal nutrition manufacturing facility in Cedar Rapids, US, with a USD 29.1 million investment. This expansion enabled the packaging and production of the entire line of natural immune support products for animals and added 100,000 sq. ft. of space to the southern facility. Consequently, increased investments and the focus on expanding production capabilities by market vendors are poised to drive market growth during the forecast period.
The Animal Feed Market shows an accelerated CAGR during the forecast period.
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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 companies to develop clean meat products are likely to hamper the growth of the market during the forecast period.
Pellets are compact, easily handled animal feed made from various ingredients, serving producers and users efficiently. They offer uniformity, higher density, longer shelf life, and efficient consumption, making them a preferred choice. The global animal feed market expects their continued growth.
Mash, a cost-effective blend of ground grains, proteins, minerals, and vitamins, is suitable for poultry, swine, and some ruminants. It's easily digested and adaptable in various forms, including a porridge-like feed for young animals. In the global animal feed market, the mash feed segment is poised for steady growth.
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 companies are ramping up poultry production. The introduction of new poultry feed products by market companies will also drive the growth of the poultry feed segment during the forecast period.
The Poultry segment was valued at USD 178.48 billion in 2017 and continued to grow until 2021.
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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.
APAC is estimated to contribute 46% to the growth of the global market during the forecast period
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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 companies 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.
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.
The animal feed market report also includes detailed analyses of the competitive landscape of the market and information about 15 market companies, including:
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.
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.
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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 |
USD 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 Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks |
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Key companies profiled |
Alltech Inc., Archer Daniels Midland Co., Associated British Foods Plc, BASF SE, 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, Tyson Foods Inc., Biochem additives and product mbH, and |
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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. |
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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 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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