The global compound feed market size was USD 490.13 billion in 2020. The market is projected to grow from USD 510.42 billion in 2021 to USD 881.18 billion in 2032 at a CAGR of 5.30% in the 2024-2032 period. This information is provided by Fortune Business Insights, in its report, titled, “Compound Feed Market, 2024-2032.”
Our knowledgeable analysts state that several nations produce animals for a range of uses, such as meat, milk, and eggs. Feed is a nutrient-rich blend of animal and plant parts given to farm animals. Consequently, feed manufacturers focus on producing balanced feed that satisfies farm animals’ physiological needs and enhances their performance, enabling livestock production that is both profitable and safe. In addition, rising animal productivity, expanding consumption of meat and dairy products, and an increasing emphasis on animal nutrition and health are driving the global market.
Information Source: https://www.fortunebusinessinsights.com/industry-reports/compound-feed-market-100525
COVID-19 Impacts:
Supply Chain Uncertainty to Affect Market Dynamics
The COVID-19 epidemic has limited product transportation and disrupted supply chains, contributing to the increased need for compound feed globally. The livestock business was badly hit by the COVID-19 outbreak, especially the feed sector. Feed production has been hindered, which can be attributed to the abrupt closure of manufacturing facilities and transit restrictions. Furthermore, the introduction of border regulations affected the movement of feed between nations. Additionally, the research provides an expected market size, share, and growth for compound feed.
Segments:
Ingredient, Form, Animal Type, and Region are Studied
Based on ingredient, the market is segmented into feed cereals, cakes & meals, animal by-products, and others.
On the basis of form, the market is segregated into solid and liquid.
On the basis of animal type, the market is fragmented into cattle, swine, poultry, aquaculture, and others.
Finally, by geography, the market is divided into North America, Europe, Asia Pacific, South America, and the Middle East & Africa.
Report Coverage:
An examination of current market trends and the top sectors is covered in this report. The influence of COVID-19 and the motivating and limiting variables are covered methodically. The market estimations in the report are derived from expert internal studies as well as secondary and primary research. The most profitable sets and the most current innovations are examined in the report. It monitors regional trends and the strategies of the major companies. It enables readers to get knowledgeable about the crucial strategies that foster industry expansion.
Drivers and Restraints:
Increasing Focus on Animal Health to Stimulate Growth
Since healthy farm animals are linked to reduced hunger, sustained food production, and human health, livestock farmers in both developed and developing nations are working hard to improve the health of their animals. Not only can animal products serve as food, but many small farmers and animal owners in poor nations also use them as a source of income. Furthermore, supplying the domestic market with safe and superior animal-derived goods depends heavily on the quality and safety of animal feed. In the livestock industry, animal nutrition is crucial since it results in livestock that are nutrient-efficient. Additionally, by enhancing the health and welfare of farm animals, it advances the safety and nutritional value of animal products for human consumption.
Regional Insights:
With the largest market share for compound feed, Asia Pacific is expected to maintain its position as the top feed consumer in the years to come. Due to increased wealth, the region’s dominance can be attributed to its high levels of animal production and meat consumption. China, India, and Indonesia are the biggest consumers of feed in the region. Consumption of meat, fish, and dairy products increased significantly as a result of the high affluence associated with the rapidly expanding economy and the robust demand for these foods.
North America and Europe are predicted to lag Asia Pacific in terms of market share. Because of the high demand from livestock and poultry, the United States has the largest feed market in North America. The nation’s high meat production and demand, along with substantial animal production, are the main drivers of the feed market.
Competitive Landscape:
Companies Adopt Technologically Advanced Production Techniques to Improve Market Position
Prominent companies are focusing their efforts on acquiring minor manufacturing companies and feed mills in order to grow their businesses in both local and foreign markets. Certain players have been expanding their geographic reach by means of acquisitions or mergers with overseas producers. The major companies focused on building a new plant and expanding regionally in order to boost their product line and manufacturing capability. Furthermore, companies are increasing the capacity of their existing plants.
Industry Development:
- October 2019: Nutreco, a Dutch company, has agreed to buy Cargill’s compound feed business in Portugal from the American corporation Cargill, Inc.
List of Key Players Mentioned in the Report:
- Charoen Pokphand Foods PCL – (Bangkok, Thailand)
- New Hope Group – (Chengdu, China)
- Cargill, Inc. – (Minnesota, U.S.)
- Land O’ Lakes – (Minnesota, U.S.)
- Guangdong HAID Group Co., Ltd – (Guangzhou, China)
- BRF – (Sao Paulo, Brazil)
- Tyson Foods, Inc – (Arkansas, U.S.)
- Nutreco – (Amersfoot, Netherlands)
- De Heus Animal Nutrition – (Ede, Netherlands)
- ForFarmers– (Lochem, Netherlands)
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