Market Size
Global Animal Feed Market reached USD million in 2023 and is projected to witness lucrative growth by reaching up to USD million by 2031. The market is growing at a CAGR of 3.45% during the forecast period (2024-2031). Animals require nutrients for their growth and live hood.
Animal feed is any product which may be processed, partially processed or unprocessed considered to be used by the animal as feed to give a source of nutrients in the diet. Animal feed is produced by the blending of high nutritional ingredients such as silage, straw, legumes, hay, sprouted grains etc. To increase the animal produce like milk, eggs and meat, these feeds should be loaded with proteins, fibers, minerals, antioxidants, carbohydrates etc. Animal feed is an important ingredient for ensuring their safe, abundant and affordable proteins. The animal feed industry mainly includes various sectors such as cattle, aquaculture, poultry.
Market Scope
| Metrics | Details |
| CAGR | 3.45% |
| Size Available for Years | 2022-2031 |
| Forecast Period | 2024-2031 |
| Data Availability | Value (US$) |
| Segments Covered | Form, Species, Ingredient and Region |
| Regions Covered | North America, Europe, Asia-Pacific, South America and Middle East & Africa |
| Fastest Growing Region | Asia-Pacific |
| Largest Region | Asia-Pacific |
| Report Insights Covered | Competitive Landscape Analysis, Company Profile Analysis, Market Size, Share, Growth, Demand, Recent Developments, Mergers and Acquisitions, New Product Launches, Growth Strategies, Revenue Analysis, Porter’s Analysis, Pricing Analysis, Regulatory Analysis, Supply-Chain Analysis and Other key Insights. |
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Market Dynamics
Increasing awareness about animal health worldwide will lead to the growth of animal feed
With the rise in health consciousness of animal, the demand for nutrients in the form of the dairy and meat are increasing day by day. Animal feed like animal protein meals, bone meals, fish meals, feather meals, and other protein meals are the main reason for healthy growth of the animals. Animal feed promotes the physical growth of animals and increases the quality of egg, meat and milk production. Proteins present in the animal feed are rich in minerals like phosphorus, calcium, essential amino acids like methionine, lysine which promote livestock growth at each stages of life of an animal. Hence higher consumption of these types of animal feed improve the value of animal in marketSo the rising awareness towards the health benefits play a key role in the growth of animal feed market.
Advancements in technology of animal feed production will grow the animal feed market in the forecast period
A study The technology advancements have played a significant role in driving the animal feed market by improving the quality and efficiency of animal feed production. The use of precision nutrition has enabled the feed producers to develop feeds that are customized to the specific nutrition needs of different animal species, ages and production stages. Precision nutrition uses digital tools like software and sensors, to analyze data and create optimal feeding regimes. The use of biotechnology in animal feed production has resulted in the development of feed additives that improve the animal health, growth and productivity. Hence the advancements in technology of animal feed production will grow the animal feed market in the forecast period.
Market Segment Analysis
The global animal feed market is segmented based on form, species, ingredient and region.
Increasing use of pellet due to it’s nutritional is the cause to have highest share in the market of animal feed
On the basis of form the animal feed is segmented into pellets, crumbles, mash and others. In 2022, the pellets segment held the highest market share in the market. For animal owners, rise in production of meat, egg, milk, leather, fur, wool from animals like cattle, cows, pigs, and sheep is very important in animal farming. Many of these animals can be fed easily by the pellets as these have a great nutritional value and also economic value. These pellets are also very convenient for the animal owners to store and transport. Along with these, pellets are also easily conserved, digested and absorbed by the animals. Generally the livestock feed pellets are of 4 types including pure forage feed pellets, concentrated feed pellets, complete diet feed pellets and premix feed pellets.
Market Geographical Share
Rising animal based-food in Asia-Pacific leads the growth of the animal feed market
In 2021 the Asia-Pacific has highest share in the animal feed market. The huge population like India, China in Asia-Pacific region demands greater amount of meat, pork, beef, etc compared to the current productions. People in that region are mainly non vegeterians so they demand these animal-based products for their meals. These animal based products are also rich in nutrition and vitamins so they ned it in a greater quantity. So to fulfill this demand in the region, animal farming is considered in a serious way. People started animal farming now a days which is more economically benifitial to them because there are more consumers of animal based products. Hence the increasing animal based food will grow the animal feed market in Asia-Pacific region.
Market Companies
The major global players in the market include Neovia Group, ForFarmers N.V., Cargill Inc., Archer Daniels Midland, COFCO Limited, New Hope Group, Charoen Pokphand Group, Japfa Comfeed Indonesia Tbk, NUTRECO N.V., Land ‘O Lakes Inc.s
Key Developments
- In December 2021, BASF introduced Natupulse TS, a new enzyme product for animal feed.
- In October 2021, BASF and Cargill expanded the animal nutrition partnership and adding new R&D and innovation capabilities as well as new markets for their existing feed enzymes sale agreements.
- In March 2020, Altech announced its partnership with aqua feed nutrition company Corey Nutrition to enhance its feed products portfolio for the fish farmers across the North American region.
Why Purchase the Report?
- To visualize the global animal feed- market segmentation based on form, species, ingredients, and region, as well as understand key commercial assets and players.
- Identify commercial opportunities by analyzing trends and co-development.
- Excel data sheet with numerous data points of the animal feed market-level with all segments.
- PDF report consists of a comprehensive analysis after exhaustive qualitative interviews and an in-depth study.
- Product mapping available as excel consisting of key products of all the major players.
The global animal feed market report would provide approximately 61 tables, 58 figures, and 200 Pages.
Target Audience 2024
- Manufacturers/ Buyers
- Industry Investors/Investment Bankers
- Research Professionals
- Emerging Companies
