Market Overview:
Global Animal Feed Market is valued at USD 565.89 Billion in 2022 and is anticipated to reach USD 786.45 Billion over the forecast period 2030, at a CAGR of 4.2%.
Feedthat reflects well-balanced nutrition is essential for the success of the animal feed industry. Today's agriculture can meet the nutritional requirements of a wide range of animals, including ruminants, poultry, swine, fish, and others, by using concentrated feed or only natural fodder grass. Aside from the nutrient content, numerous additional elements affect the nutritional quality of animal feed, including feed storage, hygienic practices, digestibility, and effects on intestinal health. Furthermore, the feed helps in increasing the animals’ abilities by providing enriched nutrients along with the feedstuffs, accelerating the animal growth, weight gain, and development of immunity, which leads to the growth of the animal feed market over the forecast period
Top Key Players Covered In The Animal Feed Market:
- Cargill Incorporated (US)
- BASF SE (Germany)
- SKM Animals Feeds and Foods India Ltd (India)
- Adisseo France S.A.S (China)
- Dupont Danisco Animal Nutrition (Denmark)
- Godrej Agrovet Ltd (India)
- Archer Daniel Midland (US)
- Elanco Animal Health (US)
- Novus International (US)
- Biomin (Austria), and Other Major Players.
Market Dynamics and Factors:
The market for animal feed will experience growth due to rising demand for products derived from animals, such as milk and its byproducts, meat, chicken, and chicken byproducts, pork, fish, and other items. The market for animal feed is stimulated by increasing farmer and general public awareness of animal health. Furthermore, increasing cattle farming and poultry farming as a business in various regions is likely to increase animal feed demand also benefits associated with the use of feed additives to reduce disease decline have helped the need of the market. The increasing demand for animal-based products among humans can accelerate the animal feed market demand. Focusing a lot on animal health will drive market growth. Furthermore, the rising focus on animal health and the growing momentum of proponents of natural growth will also drive animal feed market growth
It is being developed to fortify animal feed with essential nutrients such as vitamins, minerals, and other nutrients to improve its quality and strength. The highest demand for finished items will support this trend. Additionally, businesses are encouraged to anticipate future market expansion by investing in research and development to improve the nutritional value of their products. the increasing popularity of meat and meat-related products, high investments in research and development (R&D) for improving food fortification processes, and the rise in the health problems in animals will create new opportunities for the animal feed market.
Animal Feed Market Report Highlight:
- By Type, the fodder segment is anticipated to lead the growth of the Animal Feed market in the forecasted timeframe. Fodder" refers particularly to food given to the animals (including plants cut and carried to them), rather than that which they forage for themselves. It includes hay, straw, silage, compressed and pelleted feeds, oils and mixed rations, and sprouted grains and legumes.
- By Form, the pellets segment is expected to have the highest share of the Animal Feed market over the projected period. The animals we raise for meat, leather, fur, milk, eggs, and wool are cattle, cows, pigs, camels, sheep, deer, rabbits, alpacas, etc. Many of these animals can be fed pellets since pellets have a higher nutritional density, a more comprehensive nutritional supply, and a higher economic value.
- By Species, the poultry segment dominated the animal feed market and is projected to be the faster-growing segment during the forecast period. In poultry feed, whole maize, maize germ, soybeans, cottonseed cake, sunflower, and fish meal are common ingredients. To ensure that chickens get enough micronutrients, minerals, and vitamins to meet their daily nutritional needs, farmers add several animal feed additives such as micronutrients, minerals, and vitamins.
- By Distribution Channels, the online segment is set to develop at the highest CAGR during the forecasted timeframe. The online segment is very convenient for all customers. Increasing the adoption of mobile and the internet is the main factor that drives the online segment.
- Asia Pacific region has strong economic growth in emerging economies such as India, China, Australia, Japan, and Indonesia, the region has experienced a high increase in demand for animal feed and dominate the market over the forecast period. Adequate demand for animal feed from highly populated nations such as China, and India leading the market.
Key Industry Developments
In July 2015, ADM (US) and Quality Liquid Feeds Inc take up the 50-50% joint venture for the manufacturing and sales of liquid-based feed supplements for animals.
In July 2015, Cargill Incorporated Inc launched new version product which is plant-based antioxidants Proviox, specially developed for breeder birds at the International Production and processing Expo.
Animal Feed Market Segmentation:
By Type
- Fodder
- Forage
- Compound Feed
By Form
- Crumbles
- Pellets
- Mash
- Others
By Species
- Ruminants
- Poultry
- Aqua
- Swine
- Others
By Distribution Channels
- Special Animal Medical Store
- Online
- Others
For this report, Introspective Market Research has segmented the Animal Feed Market based on region:
Regional Outlook (Revenue in USD Million; Volume in Units, 2023-2030)
- The U.S.
- Canada
- Mexico
- Russia
- Bulgaria
- The Czech Republic
- Hungary
- Poland
- Romania
- Rest of Eastern Europe
Western Europe
- Germany
- UK
- France
- Netherlands
- Italy
- Spain
- Rest of Western Europe
Asia Pacific
- China
- India
- Japan
- Singapore
- Australia
- New-Zealand
- Rest of APAC
Middle East & Africa
- Turkey
- Saudi Arabia
- Qatar
- UAE
- Israel
- South Africa
South America
- Brazil
- Argentina
- Rest of SA
