USD 99.03 billion
Report ID: SQSG30C2027 | Region: Global | Published Date: November, 2022 | Pages: 165 | Tables: 92 | Figures: 76
Swine Feed Market size was valued at USD 99.03 billion in 2021 and is poised to grow from USD 103.35 billion in 2022 to USD 145.3 billion by 2030, growing at a CAGR of 4.5% in the forecast period (2023-2030).
The increasing demand for feed that includes additives and premixes developed via extensive research to improve swine health has resulted in an expanding global swine feed market. The global market is expected to rise as a result of the increased commercialization of feed products for pigs and the rising concern among farmers about swine health and productivity. Additionally, the industry is being shaped by the rising demand for premium pork in both developed and developing economies. Demand for pig meat is anticipated to be boosted by factors including the expanding global population and rising per capita meat consumption which will drive the demand for swine meat and will propel the swine feed market during the forecast period.
US Swine Feed Market is poised to grow at a sustainable CAGR for the next forecast year.
Global Market Size
USD 99.03 billion
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The global swine feed market is segmented on the basis of type, form, additives, and region. Based on type, the market is segmented into starter feed, sow feed, and grower feed. Based on form, the Swine Feed Market is segmented into pellets, mash, and crumbles. Based on additives, the Swine Feed Market is segmented into vitamins & minerals, amino acids, antibiotics, enzymes, and other additives. Based on region, the global Swine Feed market is segmented into North America, Europe, Asia-Pacific, South America, and MEA.
Swine Feed Market Analysis by Type
In 2021, the grower feed segment accounted for the largest market share in the swine feed market. The high consumption rate of piglets or newborn pigs is expected to keep the demand for grower feed strong during the forecast period. One of the primary reasons for grower feed's dominance in revenue of the swine feed market is the high cost of the product, which is justified by its function of promoting rapid growth in young pigs. One further major factor that is expected to contribute to the sector's expansion is the rapid rise in feed consumption by growing pigs. Since pregnant pigs need extra nourishment to have healthy piglets, the demand for high-quality sow feed is predicted to rise at a tremendous rate. Producers are likely to ramp up production of high-quality sow swine feed in response to rising sow swine disease rates which will drive the demand for the swine feed market during the analysis period.
Swine Feed Market Analysis by Additives
In 2021, the amino acid segment accounted for the largest market share in the global swine feed additive market. For swine to maintain an efficient metabolic rate, they need access to a specific set of amino acids. While pigs can produce some amino acids on their own, they need to consume them as part of their diet since they are unable to produce enough of the essential amino acids such as Valine, Lysine, Leucine, and Threonine. Protein synthesis, hormone metabolism, and the creation of digestive enzymes are just a few of the many important functions that amino acids serve in the body of a swine. In addition, the rising demand for high-quality pig meat is forecast to boost the market for a wide variety of swine feed additives during the analysis period.
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The Asia Pacific region accounted for the largest market share and dominated the global swine feed market during the year 2021. Countries such as China, Japan, South Korea, Malaysia, and others are expanding significantly in pig meat consumption, which is functioning as the main driver for the increased usage of swine feed across the region. China alone is responsible for a large share of pork production and export globally. Some of the most important elements driving the expansion of the market are the high profits associated with pork production in various economies, such as low farm costs, low labor costs, robust pork production, and a well-established distribution network. Market expansion is expected to be aided during the forecast period by factors including a growing urban population and high purchasing power among consumers in various Asian countries.
The rising demand for high-quality swine meat and other products across North America is expected to lead to significant growth in the region during the analysis period. The US is predicted to boost the market due to the presence of key industry players such as Archer Daniels Midland, Kent Nutrition, Cargill Incorporated, and others. The potential expansion of the quality swine feed sector in nations like the US and Canada is related, in part, to the significant profits made from pork exports. Due to a rapid expansion in swine headcount across the region, Brazil is expected to hold a significant share of the regional market. In the last decade, the country has become a major exporter of pork.
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Swine Feed Market Driver
Swine Feed Market Restraint
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The swine feed market is relatively fragmented, with a high level of competition. Few large players, like DSM N.V., BASF SE, and Kent Corporation, now control the market in terms of market share. These industry leaders are extending their customer base across several areas, and many corporations are creating strategic and collaborative initiatives with other start-up enterprises to enhance their market share and profitability.
Swine Feed Market Top Player’s Company Profiles
Swine 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 the robust Secondary Desk research.
According to our analysis, the swine feed market is expected to rise as a result of the increased commercialization of feed products for pigs and the rising concern among farmers about swine health. The industry is being shaped by the rising demand for premium pork in both developed and developing economies. Based on type, the market is segmented into starter feed, sow feed, and grower feed. Based on region, the global Swine Feed market is segmented into North America, Europe, Asia-Pacific, South America, and MEA. In 2021, the amino acid segment accounted for the largest market share in the global swine feed additive market. China alone is responsible for a large share of pork production and export globally. The rising demand for high-quality swine meat and other products across North America is expected to lead to significant growth in the region during the analysis period.
|Market size value in 2021||USD 99.03 billion|
|Market size value in 2030||USD 103.35 billion|
|Forecast Unit (Value)||USD Billion|
|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)|
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For the Global Swine 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 Swine 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.
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