Animal Feed Market Share, Size, Trends, Industry Analysis Report, By Type (Antibiotic, Antioxidants, Amino acids, Feed enzymes, Feed Acidifiers, Vitamin, Others), By Livestock, By Form, By Composition, By Region, Segments & Forecast, 2023 – 2032
- Published Date:Apr-2023
- Pages: 118
- Format: PDF
- Report ID: PM1133
- Base Year: 2022
- Historical Data: 2019-2021
Report Outlook
The global animal feed market was valued at USD 509.10 Billion in 2022 and is projected to grow at a CAGR of 4.3% in the forecast period. The demand for animal-derived food products such as meat, dairy, and eggs and the increasing focus on animal health and nutrition are the two key driving factors for the animal feed market. Further, various technological advancements in feed production, a growing number of feed mills, and consolidation of the industry are expected to support the market in the forecast period. The research further concluded that production growth is more in developing nations than in developed economies, which are more or less stable in the coming years.
The research study provides a comprehensive analysis of the industry, assessing the market on the basis of various segments and sub-segments. It sheds light on the competitive landscape and introduces Animal Feed Market key players from the perspective of market share, concentration ratio, etc. The study is a vital resource for understanding the growth drivers, opportunities, and challenges in the industry.
Know more about this report: Request for sample pages
Animal feed is a type of food given to animals to provide them with the nutrients they need for growth, health, and productivity. Animal feed can be made from various ingredients, including grains, protein meals, fats, and minerals. There are many different types of animal feed, each designed for a specific kind of animal and purpose. For example, poultry feed is formulated specifically for chickens and other poultry and contains the nutrients needed for egg production and growth. Cattle feed, on the other hand, is designed for cows and other ruminants and has high levels of fiber to aid in digestion.
Animal feed can be produced in different forms, including pellets, crumbles, and powders. Pelleted feed is one of the most common forms of animal feed, as it is easy to store, transport, and feed to animals. Crumbled feed is often used for young or small animals, as it is easier for them to consume. Powdered feed is used in some cases, such as for feeding young animals that cannot yet consume solid food.
For instance, as per International Feed Industry Federation, the annual global feed production is estimated to be more than one billion tons and generates an estimated annual turnover of over 400 billion USD. Further, the United Nations Food and Agriculture Organization (FAO) has also estimated that between 2010 and 2050, the production of animal proteins is estimated to grow by around 1.7% annually.
Growing disposable income, changing lifestyles, and increasing awareness regarding health and nutrition have resulted in increased demand for high-quality meat and meat-based products. Increasing demand for eggs, dairy, and meat, more significant concerns regarding food safety, and economic growth in countries such as China, Japan, and India boost the demand for animal feed. The increasing inclination towards using feed produced naturally and adopting effective livestock husbandry further supports market growth. New product launches and acquisitions by major players in the market are expected to offer numerous growth opportunities during the forecast period.
Rising concerns about the environmental impact of animal agriculture and fluctuating cost of ingredients used in animal feeds are limiting the market's growth. The environmental impact of animal agriculture, including greenhouse gas emissions and water use, is a growing concern for many consumers and policymakers. As a result, there may be increased pressure on the industry to adopt more sustainable practices, which could impact the demand for animal feed and its composition.
The cost of ingredients used in animal feed, such as corn and soybean meal, often fluctuates due to weather patterns, supply and demand, and other factors. These fluctuations can make it difficult for feed manufacturers to maintain stable pricing and margins and can impact the market's overall growth.
For Specific Research Requirements, Request for a Customized Report
Industry Dynamics
Growth Drivers
One of the primary factors driving the growth of the animal feed market is the increasing demand for animal-derived food products, such as meat, dairy, and eggs. As the global population grows, so does the need for protein-rich foods. It has led to a significant increase in livestock production, which has fueled demand for animal feed. In addition, rising disposable incomes in developing countries have led to a shift in dietary habits, with consumers increasingly opting for meat and dairy products.
For instance, the United Nations Food and Agriculture Organization (FAO) has also estimated that by 2050, the demand for food will grow by 60%, and between 2010 and 2050, meat production is projected to rise by 70%, dairy by 55%, and aquaculture by 90%.
Another key factor driving the growth is the increasing focus on animal health and nutrition. As consumers become more health conscious, they demand products free from antibiotics and other harmful chemicals. It has led to a growing trend towards natural and organic animal feed, perceived as healthier and safer for animals and humans.
Report Segmentation
The market is primarily segmented based on type, livestock, form, composition, and region
|
By Type |
By Livestock |
By Form |
By Composition |
By Region |
|
|
|
|
|
Know more about this report: Request for sample pages
The amino acids segment is projected to witness the quickest growth rate in the forecast period.
The growth of amino acid-type animal feed has been driven by several factors, including the increasing demand for meat and dairy products, the need to improve feed efficiency and reduce feed cost, and the growing focus on sustainability and environmental responsibility in animal agriculture.
As a result, many feed manufacturers are investing in research and development to create new and innovative amino acid-type animal feed products that can help to improve animal health, reduce feed costs, and minimize animal agriculture's environmental impact.
The poultry livestock segment accounted for a major market share in the forecast period.
The demand for poultry feed is expected to be high during the forecast period. One of the key drivers of growth in the poultry feed market has been the increasing demand for poultry meat and eggs. Poultry is a popular source of protein worldwide, and the global population is projected to continue growing in the coming decades. It has increased poultry farms and the amount of poultry feed produced.
Another factor driving growth in the poultry feed market is the shift towards more intensive farming methods. Intensive farming methods, such as broiler and layer operations, require high-quality feed specifically formulated to meet the birds' nutritional needs. As a result, the demand for specialized poultry feed has increased in recent years.
As per International Feed Industry Federation estimates, poultry livestock feed constitutes a share of 44% among other species and is expected to rise quickly due to the driving factors mentioned above.
The pellets form segment is expected to witness a significant CAGR in the forecast period.
The key driver of growth in the pellets form segment of the market has been the increasing demand for more efficient and convenient feed options. Pelleted feed is easier to handle and store than loose feed, less likely to spoil or attract pests. It makes it an attractive option for farmers and feed manufacturers looking to improve their operations' efficiency.
Pelleted feed also offers several benefits for animal health and performance. The pelleting process can improve the digestibility and bioavailability of nutrients in the feed, leading to better feed conversion rates and improved animal growth and development. The growing demand for pelleted feed has led to increased investment in pellet manufacturing technology and equipment. Feed manufacturers are developing new and innovative pellet formulations and processing techniques to meet the specific needs of different animal species and production systems.
Asia Pacific accounted for the largest market share in 2022 and is projected to dominate the market in the forecast period.
Several factors, including the increasing demand for meat and dairy products, the growing population and urbanization, and the development of the animal husbandry sector in many countries, have driven the growth.
One of the main drivers of growth in the Asia Pacific market is the increasing demand for meat and dairy products. As incomes rise and diets change, the region's consumers consume more animal protein, driving up demand for animal feed. In addition, the part is home to some of the largest meat producers in the world, such as China, India, and Indonesia, which are major consumers of animal feed.
Another factor driving growth in the Asia Pacific region is the growing population and urbanization in the region. As populations grow and people move into cities, the demand for animal protein will continue to rise. It also leads to increased demand for animal feed as farmers and feed manufacturers work to meet the needs of a growing population.
As per International Feed Industry Federation estimates, in 2020, China accounted for 240 million tons of feed production, followed by other Asian countries at 179.4 million tons. China, being the largest feed-producing country in the world, and growing demand from countries like India and Indonesia have been the major factors responsible for the region's dominant position.
Competitive Insight
Some of the prominent key players operating in the animal feed market space includes Cargill, Incorporated, Charoen Pokphand Foods PCL, ADM, Royal Agrifirm Group, Alltech, BRF, DaChan Food (Asia) Limited, De Heus Animal Nutrition, ForFarmers, Guangdong HAID Group Co., Ltd., Kent Nutrition Group, New Hope Liuhe Co., Ltd., Smithfield Foods, Inc, Purina Animal Nutrition LLC., Tyson Foods, Inc., Evonik Industries AG, BASF SE
Recent Developments
- January 2023: BASF SE and Cargill, Incorporated have expanded their feed enzymes development and distribution agreement in the United States. The move has committed to bringing high-performance enzyme solutions for animal feed customers in the U.S.
- February 2021: Alltech and DLG Group (DLG) have announced a joint venture agreement to provide advanced animal nutrition to the Scandinavian market.
Animal Feed Market Report Scope
|
Report Attributes |
Details |
|
Market size value in 2023 |
USD 524.93 Billion |
|
Revenue forecast in 2032 |
USD 767.30 Billion |
|
CAGR |
4.3% from 2023 - 2032 |
|
Base year |
2022 |
|
Historical data |
2018 - 2021 |
|
Forecast period |
2023 - 2032 |
|
Quantitative units |
Revenue in USD Billion and CAGR from 2023 to 2032 |
|
Segments covered |
By Type, By Livestock, By Form, By Composition, By Region |
|
Regional scope |
North America, Europe, Asia Pacific, Latin America, Middle East & Africa |
|
Key companies |
Cargill, Incorporated, Charoen Pokphand Foods PCL, ADM, Royal Agrifirm Group, Alltech, BRF, DaChan Food (Asia) Limited, De Heus Animal Nutrition, ForFarmers, Guangdong HAID Group Co., Ltd., Kent Nutrition Group, New Hope Liuhe Co., Ltd., Smithfield Foods, Inc, Purina Animal Nutrition LLC., Tyson Foods, Inc., Evonik Industries AG, BASF SE |
Explore the landscape of Animal Feed Market in 2023 through detailed market share, size, and revenue growth rate statistics meticulously organized by Polaris Market Research Industry Reports. This expansive analysis goes beyond the present, offering a forward-looking market forecast till 2032, coupled with a perceptive historical overview. Immerse yourself in the depth of this industry analysis by acquiring a complimentary PDF download of the sample report.
FAQ's
Key companies in animal feed market are Cargill, Incorporated, Charoen Pokphand Foods PCL, ADM, Royal Agrifirm Group, Alltech, BRF, DaChan Food (Asia) Limited, De Heus Animal Nutrition, ForFarmers.
The global animal feed market projected to grow at a CAGR of 4.3% in the forecast period.
The animal feed market report covering key segments are type, livestock, form, composition, and region.
Key driving factors in animal feed market are Increasing demand for animal-derived food products and rising focus on animal health and nutrition.
The global animal feed market size is expected to reach USD 767.30 Billion by 2032.
