Animal feed applications provide essential nutrients for optimal growth, health, and performance in various livestock species. These feeds are carefully formulated to meet the specific nutritional needs of animals, promoting economic efficiency by optimizing feed conversion rates and reducing production costs. Beyond supporting growth and muscle development, well-balanced feeds contribute to disease prevention, reproductive health, and overall livestock well-being. The convenience of different feed forms, along with advancements in digestibility and sustainability, enhances farmers' ease of handling and administration. Ultimately, animal feed plays a pivotal role in modern animal husbandry, ensuring the provision of necessary nutrients and contributing to the productivity, health, and sustainability of livestock farming practices.
According to Data Bridge Market Research, the Global Animal Feed Market is expected to grow at a CAGR of 6.6% during the forecast period of 2023 to 2030.
"Rise in pets and domesticated animals boosts the market growth"
The global surge in pet ownership, the growing human population, and increased urbanization are significant drivers for the animal feed market. Pets such as dogs and cats are now integral family members, fostering a heightened demand for pet food. Simultaneously, the rise in human population and evolving dietary preferences drive the demand for meat, dairy, and egg products from livestock. Livestock production has intensified to meet this escalating demand, necessitating a higher volume of nutritious animal feed. The need for a balanced diet to ensure the health, growth, and productivity of both pets and livestock propels the demand for animal feed, making it a crucial driver for market growth on a global scale.
What restraints the growth of the global animal feed market?
“Low-quality counterfeit products hinder the market growth”
The widespread availability of low-quality counterfeit animal feed poses a critical challenge to the industry. These imitation products, often sold at lower prices, not only jeopardize livestock health, leading to increased toxicity and compromised immunity but also hinder overall efficiency in animal farming. The negative repercussions extend to diseases, reduced growth rates, and lower productivity, impacting the sustainability of the animal feed market. Legitimate manufacturers face obstacles in competing and growing amid cheap imitations.
Segmentation: Global Animal Feed Market
The global animal feed market is segmented into nine notable segments based on product, animal type, mode of delivery, form, source, nature, lifecycle, end user, and distribution channel.
- On the basis of product, the global animal feed market is segmented into cereal grains, protein meals, Milk Replacer, feed additives, and others
- On the basis of animal type, the global animal feed market is segmented into ruminants, swine, poultry, aquaculture, pets, equine, and others
- On the basis of mode of delivery, the global animal feed market is segmented into premixes, oral powder, and oral solutions
- On the basis of form, the global animal feed market is segmented into (liquid, dry, frozen, pellet, crumbles, and mash
- On the basis of source, the global animal feed market is segmented into animal-based and plant-based
- On the basis of nature, the global animal feed market is segmented into organic and conventional
- On the basis of lifecycle, the global animal feed market is segmented into grower feed, finisher feed, starter feed, and breeder feed
- On the basis of end-user, the global animal feed market is segmented into feed manufacturers, contract manufacturers, livestock producers, and others
- On the basis of distribution, the global animal feed market is segmented into indirect and direct
Regional Insights: Asia-Pacific is expected to dominate the Global Animal Feed Market
The Asia-Pacific region, China, is expected to dominate the global animal feed market due to increased research and development in animal nutrition. China's significant investments in this field, coupled with rising healthcare expenditure and a growing population of pets and domesticated animals, position it as a key player in shaping the industry's future.
In Europe, Russia is expected to dominate due to technology and reliable services due to its proactive adoption of cutting-edge technologies and a commitment to providing dependable solutions. This positions Russia as a leader in shaping the European technological landscape and service standards.
In the North America region, the U.S. is expected to dominate in aquaculture and livestock feed sectors due to its leadership in adopting advanced technologies and fostering industry growth. The country's commitment to modernization includes innovative practices such as precision agriculture and sustainable aquaculture, contributing to increased production efficiency and environmental sustainability.
To know more about the study visit, https://www.databridgemarketresearch.com/ko/reports/global-animal-feed-market
Recent Developments in Global Animal Feed Market
- In June 2023, Alltech unveiled Triad, a groundbreaking swine product designed to enhance farrowing success and improve pig livability
- In November 2022, Alltech, a prominent figure in the agriculture sector for over four decades, introduced Egalis, a cutting-edge series of premium silage inoculants. These innovations aim to optimize nutrient quality, enhance forage stability, and minimize dry matter loss, ultimately supporting peak animal performance
The Prominent Key Players Operating in the Global Animal Feed Market Include:
- Cargill, Incorporated (U.S.)
- ADM (Archer Daniels Midland Company) (U.S.)
- Charoen Pokphand Foods PCL (Thailand)
- BASF SE (Germany)
- De Heus Animal Nutrition (Netherlands)
- JAPFA LTD (Indonesia)
- Yara (Norway)
- Evonik Industries AG (Germany)
- DSM (Koninklijke DSM N.V.) (Netherlands)
- Phibro Animal Health Corporation (U.S.)
- NOVUS INTERNATIONAL, INC. (U.S.)
- Purina Animal Nutrition LLC (U.S.)
- Kemin Industries, Inc. (U.S.)
- Weston Stockfeed New Zealand (New Zealand)
- Kent Nutrition Group (U.S.)
- Biochem Zusatzstoffe Handels und Produktionsgesellschaft mbH (Germany)
- Perstorp (Sweden)
- Alltech (U.S.)
- nutrex.eu (Belgium)
- Henraajh Feeds India Pvt. Ltd. (India)
- Vetsfarma Ltd. (Israel)
- Nutreco (Netherlands)
Above are the key players covered in the report, to know about more and exhaustive list of global animal feed market companies contact, https://www.databridgemarketresearch.com/ko/contact
Research Methodology: Global Animal Feed Market
Data collection and base year analysis are done using data collection modules with large sample sizes. The market data is analyzed and estimated using market statistical and coherent models. In addition, market share analysis and key trend analysis are the major success factors in the market report. The key research methodology used by DBMR research team is data triangulation which involves data mining, analysis of the impact of data variables on the market, and primary (industry expert) validation. Apart from this, data models include Vendor Positioning Grid, Market Time Line Analysis, Market Overview and Guide, Company Positioning Grid, Company Market Share Analysis, Standards of Measurement, global vs Regional and Vendor Share Analysis. Please request analyst call in case of further inquiry.
