USD 39.36 billion
Animal Feed Market Size, Share, Growth Analysis, By Species (Poultry, Cattle, Swine, Aqua, Pet), By Additives (Antibiotics, Vitamins, Antioxidants), By Region Industry Forecast 2024-2031
Report ID:
SQMIG30H2033 |
Region:
Global |
Published Date: June, 2024
Pages:
255
|Tables:
99
|Figures:
76
Animal Feed Market Insights
Global Animal Feed Market was valued at USD 551.21 billion in 2022 and is expected to rise from USD 570.5 billion in 2023 to reach a value of USD 751.24 billion by 2031, at a CAGR of 3.50% during the forecast period (2024–2031).
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.
Market Snapshot - 2024–2031
Global Market Size
Largest Segment
Pork/Swine
Fastest Growth
Pork/Swine
Growth Rate
3.5% CAGR
Global Animal Feed Market ($ Bn)
Country Share for Europe Region (%)
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Animal Feed Market Segmental Analysis
Global Animal Feed Market is segmented based on species, additives and region. Based on species the market is segmented into poultry, cattle, swine, aqua, and pet. Based on additives the market is segmented into antibiotics, vitamins, antioxidants, amino acids, feed acidifiers and others. Based on region the global Animal Feed Market is segmented into North America, Europe, Asia-Pacific, South America, and MEA.
Analysis by Species
The poultry segment dominated the industry, accounting for 37.00% of total sales. The segment's large share can be due to the region's consistent growth in grill output. Enzymes, antioxidants, vitamins, and acidifiers are some of the chicken feed additives available on the market, and they are used to improve efficiency and nutritional value. Consumption is rising in developing countries, where rising income and urbanization are causing consumers to diversify their diets. Due to their rising population and high meat consumption ratio, developing countries will continue to dominate the poultry feed industry.
The pet segment represents the fastest growth in the animal feed market. This growth is supported by the increasing percentage of pet ownership and growing expenditure on pet care. Pets are considered to be members of the family, and with this changing culture, there is a related and increased spending on premium and specialized pet foods that meet specific health needs and preferences. Humanization of pet center trends, wherein owners want to have feeds that are high in quality and even gourmet in nature, accelerate demand for pet feed. Further, formulation innovations, as well as product line expansions into organic and natural products, are giving a boost to the segment's higher growth.
Analysis by Additives
The amino acids product sector led the global industry, accounting for 34.70% of overall revenue. Its substantial proportion is due to its capacity to strengthen immunity and stimulate animal growth. It aids in the prevention of nail and skin issues in animals. Furthermore, it aids in the prevention of brain dysfunction, which can result in muscular incoordination in animals. As a result, amino acids are expected to be in high demand from the product business as a feed additive and a pet food ingredient. One of the key elements driving antibiotic market expansion is their potential to increase animal growth. Antibiotics also increase meat quality by increasing protein content and decreasing fat content.
Antibiotics segment is the fastest growing segment in the animal feed market by additives. The excessive use of antibiotics as growth promoters led to the local bacterial population developing antibiotic resistance. Antibiotic traces in meat can also be harmful to human health due to their overuse as growth promoters. Vitamins exist naturally, however, to ensure optimum nutrition, supplementary vitamin supplements are put into livestock feeds. Vitamin A, D, E, and K, and riboflavin, are commonly used vitamin additions given to feed as supplements to promote and maintain animal health. Vitamins are often provided to animals to help them reproduce. Furthermore, increased consumer awareness about the benefits of fat-soluble vitamins is expected to drive market demand.
Global Animal Feed Market By Livestock (%)
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Animal Feed Market Regional Insights
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.
Global Animal Feed Market By Geography
- Largest
- Fastest
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Animal Feed Market Dynamics
Animal Feed Market Driver
- Large-scale animal farming aids in supplying the major opportunity for livestock-derived products. Farm animals perform a significant economic and social function in addition to contributing to food production. Worldwide, a large number of small-scale farmers still rely on cattle for their livelihoods. The livestock industry supports the livelihoods of 1.3 billion people worldwide, according to the Food and Agricultural Organization (FAO), accounting for close to 40% of global agricultural output in rich countries and 20% in developing countries. Additionally, 34% of the world's supply of food protein comes from the animal industry.
- Demand for animal products has increased as a result of changing diets, rising incomes, and expanding populations. Animal goods like milk, eggs, and meat have become more prevalent in recent years. According to FAO, North America consumed 97 kg of meat per person between 2018 and 2020, compared to the global average of 34 kg. The least meat-eating regions are Africa and Asia-Pacific, where per capita intake is 27 kg and 13 kg, respectively. In addition, although milk consumption in Australia and New Zealand was 99 kg and 109 kg, respectively, it was just 64 kg in the United States in 2020. Therefore, the increase in animal production is projected to increase the demand for compound feed and the huge demand for animal products.
Animal Feed Market Restraint
- The global rise in raw material prices and the stricter government requirements in industrialized nations have a significant impact on the expansion of the compound feed business. The kind and quantity of feed raw materials used in animal feed are heavily influenced by their cost and nutritional value. The production, nutrient content, and price of plant-based raw materials like corn, soybeans, and others are significantly impacted by changes in the weather. With every change in the production and consumption of animals and their products, respectively, the cost of meals made from animal byproducts also varies.
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Animal Feed Market Competitive Landscape
Companies are obtaining FDA approval for the use of stem cells to treat a range of illnesses and infections. For instance, the FDA authorized Stemedica Cell Technologies, Inc. in September 2020. Phase II trials using intravenously administered allogeneic MSCs in patients with covid-19 are permitted as an investigational new drug. Ischemic-tolerant MSCs exhibit a number of properties that make them a desirable candidate for biological therapy for COVID-19, including immunomodulatory effects, restricted immunogenicity, and the capacity to suppress excessive pro-inflammatory responses.
Animal Feed Market Top Players' Company Profiles
- BASF SE (Germany)
- Cargill, Inc. (US)
- Archer Daniels Midland Company (US)
- DuPont de Nemours, Inc. (US)
- Evonik Industries AG (Germany)
- Nutreco N.V. (Netherlands)
- DSM Nutritional Products AG (Switzerland)
- Adisseo France SAS (France)
- Land O Lakes Purina (US)
- Kemin Industries, Inc. (US)
- Ingevity Corporation (US)
- Alltech, Inc. (US)
- Biovet JSC (Russia)
- BIOMIN GmbH (Austria)
- Elanco Animal Health, Inc. (US)
- Zoetis Inc. (US)
- Balchem Corporation (US)
- Phibro Animal Health Corporation (US)
- Addcon Group GmbH (Germany)
- Chr. Hansen Holding (Denmark)
Animal Feed Market Recent Developments
- In April 2024, Wilbur-Ellis Nutrition and Bond Pet Foods announced their partnership to develop customized ingredients for pet food applications. The collaboration between Wilbur-Ellis Nutrition and Bond is the second strategic partnership with a global pet food industry player.
- In March 2024, Novus International, Inc. announced its acquisition of U.S.-based enzyme company BioResource International, Inc.(BRI). NOVUS has partnered with BRI since 2008 to manufacture its protease product, CIBENZA Enzyme Feed Additive.
- In January 2024, Belgian United Petfood signed a share purchase agreement on to acquire Vital Petfood Group (VPG). VPG is a Danish pet food manufacturer specialized in dry and semi-moist pet foods. The acquisition includes a plant in the Nordics, which is set up to support United Petfood’s growth strategy targeting the Nordics.
Animal Feed Key Market Trends
- Consumers are very concerned about the feed supply chain since the effects of various feed ingredients can range greatly depending on where they come from and how they are manufactured. Additionally, the environmental impact of the cattle business is becoming a significant problem, thus legislators and retailers are focusing on this industry. As a result, farmers and feed manufacturers work to keep feed prices as low as possible while lowering the environmental impact of both the feed and the finished protein. For instance, BASF and Adifo Software partnered to introduce Opteinics, a new digital solution, in December 2020. (with BESTMIX feed formulation software). This innovative approach would facilitate more sustainable animal protein production while assisting BASF in feed formulation optimization.
- Additionally, the popularity of high-protein diets is driving up the demand for animal protein on a global scale. The rising need for animal proteins suggests that the importance of feed will rise in the years to come. Additionally, feed is a crucial component of animal husbandry's sustained growth. As a result, increasing the production of animal protein would also raise the production of feed for sustainable animal production.
Animal Feed Market SkyQuest Analysis
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 2022 | USD 551.21 billion |
| Market size value in 2031 | USD 751.24 billion |
| Growth Rate | 3.50% |
| Base year | 2023 |
| Forecast period | 2024–2031 |
| Forecast Unit (Value) | USD Billion |
| Segments covered |
|
| 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 |
|
| Customization scope | Free report customization with purchase. Customization includes:-
|
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Table Of Content
Executive Summary
Market overview
- Exhibit: Executive Summary – Chart on Market Overview
- Exhibit: Executive Summary – Data Table on Market Overview
- Exhibit: Executive Summary – Chart on Animal Feed Market Characteristics
- Exhibit: Executive Summary – Chart on Market by Geography
- Exhibit: Executive Summary – Chart on Market Segmentation
- Exhibit: Executive Summary – Chart on Incremental Growth
- Exhibit: Executive Summary – Data Table on Incremental Growth
- Exhibit: Executive Summary – Chart on Vendor Market Positioning
Parent Market Analysis
Market overview
Market size
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- SWOT Analysis
KEY MARKET INSIGHTS
- Technology Analysis
- (Exhibit: Data Table: Name of technology and details)
- Pricing Analysis
- (Exhibit: Data Table: Name of technology and pricing details)
- Supply Chain Analysis
- (Exhibit: Detailed Supply Chain Presentation)
- Value Chain Analysis
- (Exhibit: Detailed Value Chain Presentation)
- Ecosystem Of the Market
- Exhibit: Parent Market Ecosystem Market Analysis
- Exhibit: Market Characteristics of Parent Market
- IP Analysis
- (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
- Trade Analysis
- (Exhibit: Data Table: Import and Export data details)
- Startup Analysis
- (Exhibit: Data Table: Emerging startups details)
- Raw Material Analysis
- (Exhibit: Data Table: Mapping of key raw materials)
- Innovation Matrix
- (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
- Pipeline product Analysis
- (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
- Macroeconomic Indicators
COVID IMPACT
- Introduction
- Impact On Economy—scenario Assessment
- Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
- Revised Market Size
- Exhibit: Data Table on Animal Feed Market size and forecast 2021-2027 ($ million)
- Impact Of COVID On Key Segments
- Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
- COVID Strategies By Company
- Exhibit: Analysis on key strategies adopted by companies
MARKET DYNAMICS & OUTLOOK
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- Regulatory Landscape
- Exhibit: Data Table on regulation from different region
- SWOT Analysis
- Porters Analysis
- Competitive rivalry
- Exhibit: Competitive rivalry Impact of key factors, 2021
- Threat of substitute products
- Exhibit: Threat of Substitute Products Impact of key factors, 2021
- Bargaining power of buyers
- Exhibit: buyers bargaining power Impact of key factors, 2021
- Threat of new entrants
- Exhibit: Threat of new entrants Impact of key factors, 2021
- Bargaining power of suppliers
- Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
- Competitive rivalry
- Skyquest special insights on future disruptions
- Political Impact
- Economic impact
- Social Impact
- Technical Impact
- Environmental Impact
- Legal Impact
Market Size by Region
- Chart on Market share by geography 2021-2027 (%)
- Data Table on Market share by geography 2021-2027(%)
- North America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- USA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Canada
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Europe
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Germany
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Spain
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- France
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- UK
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Europe
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Asia Pacific
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- China
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- India
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Japan
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Korea
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Asia Pacific
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Latin America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Brazil
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of South America
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Middle East & Africa (MEA)
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- GCC Countries
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Africa
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of MEA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
KEY COMPANY PROFILES
- Competitive Landscape
- Total number of companies covered
- Exhibit: companies covered in the report, 2021
- Top companies market positioning
- Exhibit: company positioning matrix, 2021
- Top companies market Share
- Exhibit: Pie chart analysis on company market share, 2021(%)
- Total number of companies covered
Methodology
For the 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 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.
Analyst Support
Customization Options
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Animal Feed Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the Animal Feed Market for additional countries.
Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.
Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.
Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.
Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.
Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.
Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.
Animal Feed Market Report Snapshots
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