Animal Feed Market Share, Size, Trends, Industry Analysis Report, By Form (Mash, Pellets, Crumbles, Others); By Livestock (Cattle, Poultry, Swine, Aquaculture, Others); By Region; Segment Forecast, 2021 - 2028
- Published Date:Sep-2021
- Pages: 101
- Format: PDF
- Report ID: PM1133
- Base Year: 2020
- Historical Data: 2016-2019
Report Summary
The global animal feed market size was valued at USD 424.9 billion in 2020 and is expected to grow at a CAGR of 4.6% during the forecast period. The animal feed provides a balanced Livestock of essential nutrients for poultry, cattle, swine, and aquaculture. Animal feed is developed from grains, minerals and vitamins, oil cakes, brans, and molasses. It provides support for growth, maintenance, and milk production. It also influences the reproductive efficiency and the fat content of milk.
Know more about this report: request for sample pages
The significant rise in demand for meat and animal-based food products across the globe is expected to fuel the growth of this market. Increasing population and growth in livestock industrialization further influences the market for animal feed.
Growing disposable income, changing lifestyles, and increasing awareness regarding health and nutrition have resulted in increased demand for high-quality meat and meat-based products. Increasing demand for eggs, dairy, and meat, more significant concerns regarding food safety, and economic growth in countries such as China, Japan, and India, boosts the demand for animal feed.
Increasing inclination towards the use of feed produced naturally and adopting effective livestock husbandry further supports market growth. New product launches and acquisitions by major players in the market are expected to offer numerous growth opportunities during the forecast period.
Industry Dynamics
Growth Drivers
Industry players are introducing new products with additional health benefits to cater to the growing consumer demands. Significant investments in research and development, growth in aquaculture, and technological advancements further accelerate the growth of the industry.
There has been stable demand for animal feed during the pandemic owing to greater concerns regarding the health of livestock and several rumors regarding coronavirus in the industry. The initial phase of the lockdown experienced intensified purchases panic buying behavior across the world.
The demand for animal feed and related products has been relatively stable during the pandemic. However, the supply has been impacted by operational challenges, transportation delays, and travel restrictions. The industry has been affected by supply chain disruption, port congestion, closure of restaurants, and workforce impairment.
Restrictions on imports of goods to curb the spread of the virus have further restricted the market growth. However, the economic growth, relaxation of restrictions, increased awareness, and reopening markets are expected to drive the growth post the pandemic.
Report Segmentation
The market is primarily segmented on the basis of livestock, form, and region.
|
By Livestock |
By Form |
By Region |
|
|
|
Know more about this report: request for sample pages
Insight by Livestock
Based on livestock, the market is segmented into cattle, poultry, swine, aquaculture, and others. The demand for poultry feed is expected to be high during the forecast period. Increasing disposable income and changing lifestyle has resulted in a growing demand for eggs and poultry-based products.
More significant concerns regarding animal health and increasing instances of bird flu support the growth of this segment. Easy availability and cost-effectiveness of poultry, coupled with increasing demand for protein-enriched diet, boost the need for animal feed from this segment.
Insight by Form
On the basis of form, the market is segmented into mash, pellets, crumbles, and others. The demand for pellets is expected to be high during the forecast period. Pellets are easier to handle, more palatable, and result in greater feeding results.
They are more digestible due to heat generated in the conditioning and pelleting process. The process of pelleting reduces waste during the eating process. Pellets result in a well-balanced diet by preventing the animal from picking and choosing between ingredients.
Geographic Overview
Asia-Pacific dominated the global animal feed market in 2020. Increasing urbanization, growing demand for animal-based products, and growing concerns regarding food safety are some factors attributed to the growth of this area.
Growing population, increasing inclination towards use of feed produced naturally, and rising number of animal farms boosts the market growth in the region. There has been the standardization of meat products in this region. Companies that are operating in the region are developing customized nutrition products for pets and farm animals.
Competitive Landscape
The leading players in the animal feed market include ADM Animal Nutrition, Agrifirm Group, Alltech, BRF S.A., Cargill, Incorporated, Charoen Pokphand Foods PCL, DaChan Food (Asia) Ltd., De Heus, East Hope Group, ForFarmers N.V., Haid Group, JA Zen-Noh, Kemin Industries, Inc., Kent Nutrition Group, New Hope Group, NongHyup Feed Inc., Nutreco N.V., Purina Animal Nutrition LLC., Shuangbaotai Group (Twins Group), Smithfield Foods, Tangrenshen Group (TRS), Tyson Foods, Wen's Food Group, Yuetai Group.
These players are expanding their presence across various geographies and entering new markets in developing regions to expand their customer base and strengthen placement in the market. The companies are also introducing new innovative products in the market to cater to the growing consumer demands.
Animal Feed Market Report Scope
|
Report Attributes |
Details |
|
Market size value in 2020 |
USD 424.9 billion |
|
Revenue forecast in 2028 |
USD 568.5 billion |
|
CAGR |
4.6% from 2021 - 2028 |
|
Base year |
2020 |
|
Historical data |
2016 - 2019 |
|
Forecast period |
2021 - 2028 |
|
Quantitative units |
Revenue in USD billion and CAGR from 2021 to 2028 |
|
Segments covered |
By Livestock, By Form, By Region |
|
Regional scope |
North America, Europe, Asia Pacific, Latin America, Middle East & Africa |
|
Key companies |
ADM Animal Nutrition, Agrifirm Group, Alltech, BRF S.A., Cargill, Incorporated, Charoen Pokphand Foods PCL, DaChan Food (Asia) Ltd., De Heus, East Hope Group, ForFarmers N.V., Haid Group, JA Zen-Noh, Kemin Industries, Inc., Kent Nutrition Group, New Hope Group, NongHyup Feed Inc., Nutreco N.V., Purina Animal Nutrition LLC., Shuangbaotai Group (Twins Group), Smithfield Foods, Tangrenshen Group (TRS), Tyson Foods, Wen's Food Group, Yuetai Group |
License and Pricing
Purchase Report Sections
- Regional analysis
- Segmentation analysis
- Industry outlook
- Competitive landscape
Connect with experts
Suggested Report
- Aircraft Electrical System Market Share, Size, Trends, Industry Analysis Report, 2021 - 2028
- Steam Turbine Market Share, Size, Trends, Industry Analysis Report, 2022 - 2030
- Battery Coating Market Share, Size, Trends, Industry Analysis Report, 2022 - 2030
- Well Testing Services Market Share, Size, Trends, Industry Analysis Report, 2022 - 2030
- Lawful Interception Market Share, Size, Trends, Industry Analysis Report, 2022 - 2030
© 2022 Polaris Market Research and Consulting. All rights reserved
