USD 39.36 billion
Report ID: SQMIG30H2033 | Region: Global | Published Date: August, 2022 | Pages: 157 | Tables: 99 | Figures: 76
Animal Feed Market size was valued at USD 39.36 billion in 2021 and is poised to grow from USD 40.74 billion in 2022 to USD 53.7 billion by 2030, growing at a CAGR of 3.5% in the forecast period (2023-2030).
Animal feed is an important source of nutrients for animals. Similar to how humans require essential nutrients for growth and survival, animals likewise require these nutrients. The animal feed market value has increased as meat, dairy, and poultry products are consumed at higher rates. Animal feed products come in a variety of forms on the market, including protein-based meals, hay plants, mixed plant feeds, husks, pasture grasses, sugar beet pulp, and many others. The rules governing food safety closely adhere to the producers of animal feed. A medicated feed with FDA approval as well as animal pharmaceuticals intended to cure animals, prevent disease and promote animal growth has also been launched in the US. The farmers select the animal feed based on the animal's digestive system. Pigs eat different feeds than other animals do; on average, they eat 700–900 pounds of food each year. Increased demand for animal feed from farmers is the primary factor that drives the growth of the global animal feed market during the forecast period.
US Animal Feed Market is poised to grow at a sustainable CAGR for the next forecast year.
Global Market Size
USD 39.36 billion
Largest Segment
Poultry
Fastest Growth
Poultry
Growth Rate
3.5% CAGR
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The Global Animal Feed Market is segmented based on form, animal type, product type, and region. Based on the form, the market is segmented into pellets, crumbles, mash, and others. Based on animal type, the animal feed market is segmented into poultry, ruminants, swine, aquaculture, and others. Based on Product, the market is segmented into acidifiers, probiotics, enzymes, antioxidants, antibiotics, amino acids, vitamins, minerals, and others. Based on the region Animal Feed Market is categorized into North America, Europe, Asia-Pacific, South America, and MEA.
Animal Feed Market Analysis by Form
Based on form, the animal feed market is segregated into pellets, crumbles, mash, and others. Feed products in pellets form are widely preferred by livestock farmers as they are easily digestible by farm animals. Also, pellets feed is easy to carry and store; hence, the majority of feed manufacturers provide feed pellets. Many of the animals can be fed with pellets since they have a higher nutritional density, a more complete diet, and more economic advantages. In addition, these pallets are easier to store and carry than conventional roughage, and the animals can digest, assimilate, and conserve them better. Pure forage (grass) feed pellets, concentrated feed pellets, complete diet feed pellets, and premix feed pellets are the four main forms of animal feed pellets. Using a grinding device, feed pallets can be created by grinding maize and soya bean meal or other components into a fine powder, which can then be combined with wheat bran, bone meal, microelements, vitamins, and other basic materials to create the whole feed mesh. This is likely to drive the segmental growth of the market in the upcoming years.
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The Asia Pacific accounted for the largest animal feed market share and is expected to remain the leading consumer of animal feed in the coming years. The dominance of the region is a result of high levels of animal production and high levels of meat consumption brought on by high incomes. The top three feed users in the area are China, India, and Indonesia. The demand for meat, fish and dairy products is high due to the economy's rapid growth, and this has caused these goods' consumption to increase quickly. The local meat and dairy industries are expanding to keep up with the high growth rate in consumption, which causes feed consumption to rise very quickly.
North America and Europe are expected to follow the Asia Pacific in terms of compound feed market share. With a considerable demand for cattle and poultry, the United States has the largest feed market in North America. In 2017, American meat producers produced 42.2 billion chicken, 25.6 billion pork, and 26.3 billion pounds of beef, according to the North America Meat Institute (NAMI). The country's feed market is driven by high meat production, high demand, and high livestock production.
European cattle owners have a significant need for plant-based feed. The great majority of crops produced in Europe are utilized as animal feed. The region is overproducing meat and dairy, with EU production of chicken, pig, and beef being 8%, 16%, and 4% greater than consumption, respectively, and production of dairy being 14% higher than consumption, according to Eurostat's 2018-2019 report.
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Animal Feed Market Driver
Animal Feed Market Restraint
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Animal Feed Market Top Players' Company Profiles
Animal Feed Market Recent Developments
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Co-relates, and Analyses the Data collected by means of Primary Exploratory Research backed by robust Secondary Desk research.
As per our analysis, based on the form, the pellets form segment is projected to hold the most substantial share in the animal feed market. Based on animal type, the poultry segment market is projected to hold the most substantial share in the market. Based on Product, the amino acids segment is projected to hold the most substantial share in the market. Whereas, based on the region, the Asia-Pacific region is projected to hold the most substantial share in the market.
Report Metric | Details |
---|---|
Market size value in 2021 | USD 39.36 billion |
Market size value in 2030 | USD 40.74 billion |
Growth Rate | 3.5% |
Base year | 2021 |
Forecast period | 2023-2030 |
Forecast Unit (Value) | USD Billion |
Segments covered |
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Regions covered | North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA) |
Companies covered |
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Customization scope | Free report customization with purchase. Customization includes:-
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Executive Summary
Market overview
Parent Market Analysis
Market overview
Market size
KEY MARKET INSIGHTS
COVID IMPACT
MARKET DYNAMICS & OUTLOOK
Market Size by Region
KEY COMPANY PROFILES
For the Global Animal Feed Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Global Animal Feed Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
Customization Options
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Global Animal Feed Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
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Product ID: SQMIG30H2033