Animal Feed Market Outlook
Animal feed represents the food items that are grown and manufactured for the consumption of ruminants, poultry, swine, aquatic animals, etc. It is generally prepared by blending products with high nutritional content, including silage, hay, straw, oils, sprouted grains, legumes, etc. Animal feed is rich in proteins, fibers, carbohydrates, enzymes, acidifiers, minerals, antibiotics, antioxidants, etc., that enrich animal produce, such as milk, eggs, meat, etc. In line with this, it also acts as a good source of energy to support life processes and muscular activity in animals.
What is the expected growth rate of the global animal feed market during 2022-2027?
Global animal feed market size reached US$ 482.1 Billion in 2021. Looking forward, IMARC Group expects the market to reach US$ 589.4 Billion by 2027, exhibiting a growth rate (CAGR) of 3.5% during 2022-2027.
What are the key factors driving the global animal feed market?
The escalating demand for meat-based products and the increasing commercial livestock production are primarily augmenting the animal feed market. Furthermore, the inflating need for dairy goods as a source of numerous nutrients, owing to the rising consumer health consciousness, is acting as another significant growth-inducing factor. Apart from this, various associated health benefits of the ingredients that are algae-based in animal feed are positively influencing the global market.
Moreover, the widespread adoption of microalgae that plays an essential role in enriching animal feed with nutrients for the early developmental stages of livestock and extensive investments in R&D activities by leading manufacturers are also bolstering the market growth. Besides this, the growing production of premium quality eggs, milk, meat, etc., is further catalyzing the global market.
Additionally, several vendors are incorporating non-genetically modified organisms (non-GMO) crops in these products to meet the user demand for all-natural food sources, which is expected to fuel the animal feed market in the coming years.
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Note: We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.
Competitive Landscape with Key Players:
The report has also analysed the competitive landscape of the market with some of the key players
- Archer-Daniels-Midland Company
- Cargill Incorporated
- Charoen Pokphand Group
- Dupont De Nemours Inc.
- Evonik Industries AG (RAG-Stiftung)
- ForFarmers N.V.
- Kemin Industries Inc.
- Nutreco N.V (SHV Holdings)
- Perdue Farms Inc.
- Tyson Foods Inc.
Key Market Segmentation:
The report has categorized the market based on form, animal type and ingredient.
Breakup by Form:
- Pellets
- Crumbles
- Mash
- Others
Breakup by Animal Type:
- Swine
- Starter
- Finisher
- Grower
- Ruminants
- Calves
- Dairy Cattle
- Beef Cattle
- Others
- Poultry
- Broilers
- Layers
- Turkeys
- Others
- Aquaculture
- Carps
- Crustaceans
- Mackeral
- Milkfish
- Mollusks
- Salmon
- Others
- Others
Breakup by Ingredient:
- Cereals
- Oilseed Meal
- Molasses
- Fish Oil and Fish Meal
- Additives
- Antibiotics
- Vitamins
- Antioxidants
- Amino Acids
- Feed Enzymes
- Feed Acidifiers
- Others
- Others
Breakup by Region:
- North America (United States, Canada)
- Europe (Germany, France, United Kingdom, Italy, Spain, Others)
- Asia Pacific (China, Japan, India, Australia, Indonesia, Korea, Others)
- Latin America (Brazil, Mexico, Others)
- Middle East and Africa (United Arab Emirates, Saudi Arabia, Qatar, Iraq, South Africa, Others)
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