Global Animal Feed Market Insights Forecasts to 2032.
- The Global Animal Feed Market Size was valued at USD 501.9 Billion in 2022.
- The Market is Growing at a CAGR of 5.6% from 2022 to 2032.
- The Worldwide Global Animal Feed Market size is expected to reach USD 872.1 Billion by 2032.
- North America is expected to grow the fastest during the forecast period.
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The Global Animal Feed Market Size is expected to reach USD 872.1 Billion by 2032, at a CAGR of 5.6% during the forecast period 2022 to 2032.
To provide animals with the nutrition they require for development, health, and production, we give them what is known as animal feed. Grain, protein-rich meals, lipids, and minerals can all be used to make animal feed. There are numerous varieties of animal feed, each one intended for a particular animal species and use. For instance, chicken and other poultry-specific feed are designed to provide the nutrients necessary for egg production and growth in chickens and other fowl. Contrarily, cattle feed is made specifically for cows and other ruminants and contains a lot of fiber to help with digestion. Additionally, animal feed plays a significant role in the production of food globally since it makes it possible to produce animal additives profitably. The main source of nutrients that animals consume to maintain better immunity, faster growth, and good health is animal feed.
This research report categorizes the global Animal Feed market based on various segments and regions forecasts revenue growth and analyses trends in each submarket. The report analyses the key growth drivers, opportunities, and challenges influencing the global Animal Feed market. Recent market developments and competitive strategies such as expansion, product launch, and development, partnership, merger, and acquisition have been included to draw the competitive landscape in the market. The report strategically identifies and profiles the key market players and analyses their core competencies in each sub-segment of the global Animal Feed market. Technological innovation and advancement will further optimize the performance of the product, enabling it to acquire a wider range of applications in the downstream market.
Global Animal Feed Market Report Coverage
|Market Size in 2022:||501.9 Billion|
|Forecast Period 2022-2032 CAGR:||5.6%|
|2032 Value Projection:||872.1 Billion|
|Historical Data for:||2018-2021|
|No. of Pages:||200|
|Tables, Charts & Figures:||120|
|Segments covered:||By Type, By Form, By Livestock, By Region, and COVID-19 Impact Analysis.|
|Companies Covered:||Adisseo, Ajinomoto Co., Inc., ADM, BASF SE, BIOMIN Holding GmbH, Cargill, Incorporated, Chr. Hansen Holding A/S, DuPont, DSM, Elanco, Evonik Industries AG, Kemin Industries, Inc., Novozymes, NOVUS INTERNATIONAL, INC., Nutreco, Amco Protiens, Prinova Group LLC. and other key venders.|
|Pitfalls & Challenges:||COVID-19 Empact, Challenge, Future, Growth, & Analysis|
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Increased demand for meat and products derived from animals, as well as an increase in commercial livestock production, are the main reasons fueling industry expansion. Growing consumer health consciousness has led to an increase in the demand for dairy and meat products as sources of different nutrients, which is positively affecting the market for animal feed. Furthermore, rising public awareness of the health benefits of algae-based ingredients in animal feed is a major driver of market expansion. During the early phases of bovine development, microalgae play a crucial role in delivering nutrients to animal feed. Moreover, the transition to more intensive agricultural practices is another element promoting growth in the chicken feed market. The nutritional requirements of the birds must be addressed by high-quality feed when using intensive farming techniques like broiler and layer operations. Because of this, the need for specialist poultry feed has grown recently.
The expansion of this industry is anticipated to be severely hampered by fluctuating raw material prices. The hefty capital expenditures required for extraction will also hinder the market's expansion. Companies like Alltech and Charoen Pokphand (CP) are integrating backward to produce raw materials (feed grains), as well as animal, feed end-products to lower raw material prices.
- In 2022, the amino acids segment is influencing the largest market share during the forecast period.
Based on type, the global animal feed market is bifurcated into different segments such as antibiotics, antioxidants, amino acids, feed enzymes, feed acidifiers, vitamins, & others. Among these segments, the amino acids segment is expected to have significant development potential during the forecast period due to the rising demand for meat and dairy products, the need to cut feed costs and increase feed efficiency, and the increased attention being paid to animal agriculture to sustainability and environmental responsibility. As a result, numerous feed producers are investing in R&D to develop novel, innovative amino acid-type animal feed solutions that can help to enhance animal health, lower feed costs, and lessen the environmental effects of animal agriculture.
- In 2022, the pellets segment is dominating the market with the largest market share during the forecast period.
Based on the form, the global animal feed market is segmented into various types such as pellets, crumbles, mash, & others. Among these segments, the pellets segment is dominating the market with the largest revenue share during the forecast period due to the increasing need for more effective and convenient feed choices has been the main driver of growth in the pellets form segment of the market. Feed that has been pelleted is simpler to handle, and store and is less prone to spoil or draw pests than loose feed. It makes it a desirable alternative for farmers and feed producers trying to increase the effectiveness of their business operations.
- In 2022, the poultry segment is influencing the market with the largest market share during the forecast period.
Based on livestock, the global animal feed market is segmented into various types such as poultry, ruminants, swine, aquaculture, & others. Among these segments, the poultry segment is dominating the market with the largest revenue share during the forecast period due to The rising demand for chicken meat and eggs has been one of the main factors driving expansion in the poultry feed market. Because of the predicted continued growth of the world's population, poultry is a well-liked source of protein. Both the number of poultry farms and the output of chicken feed have increased. Also, the transition to more intensive agricultural practices is a further factor fueling market expansion for chicken feed. To meet the nutritional requirements of the birds, high-quality feed must be used in intensive farming techniques like broiler and layer operations. Since then, there has been an upsurge in demand for specialty poultry feed.
Regional Segment Analysis of the Animal Feed Market
- North America (U.S., Canada, Mexico)
- Europe (Germany, France, U.K., Italy, Spain, Rest of Europe)
- Asia-Pacific (China, Japan, India, Rest of APAC)
- South America (Brazil and the Rest of South America)
- The Middle East and Africa (UAE, South Africa, Rest of MEA)
Asia Pacific influenced the market with the largest market share during the forecast period
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Asia Pacific is influencing significant market growth over the forecast period due to the expansion of the animal feed sector, the rising output of meat, milk, and eggs in the area, high nutritional profiles of feed additives, and rising consumption of animal protein are all credited with accounting for the majority of this regional market. The demand for animal feed in Asia-Pacific is being driven by factors including rising consumer awareness among feed consumers and the industrialization of the livestock industry.
The North American region is predicted to have the highest CAGR due to rising consumer knowledge of the advantages of employing feed additives. Additionally, the quantity of raw materials, including dextrose and maize, is likely to drive the market throughout the projection period.
The report offers the appropriate analysis of the key organizations/companies involved within the global animal feed market along with a comparative evaluation primarily based on their product offering, business overviews, geographic presence, enterprise strategies, segment market share, and SWOT analysis. The report also provides an elaborative analysis focusing on the current news and developments of the companies, which includes product development, innovations, joint ventures, partnerships, mergers & acquisitions, strategic alliances, and others. This allows for the evaluation of the overall competition within the market.
List of Key Companies
- Ajinomoto Co., Inc.
- BASF SE
- BIOMIN Holding GmbH
- Cargill, Incorporated
- Chr. Hansen Holding A/S
- Evonik Industries AG
- Kemin Industries, Inc.
- NOVUS INTERNATIONAL, INC.
- Amco Protiens
- Prinova Group LLC.
Key Target Audience
- Market Players
- Government Authorities
- Consulting And Research Firm
- Venture capitalists
- Value-Added Resellers (VARs)
- In January 2023, the development and distribution agreement for feed enzymes between BASF SE and Cargill, Inc. was expanded in the US. The decision has committed to offering high-performance enzyme solutions to clients who purchase animal feed in the United States.
- February 2021, A collaborative venture between Alltech and DLG Group (DLG) has been announced to supply sophisticated animal nutrition to the Scandinavian market.
This study forecasts revenue at global, regional, and country levels from 2022 to 2032. Spherical Insights has segmented the Global Animal Feed Market based on the below-mentioned segments:
Global Animal Feed Market, By Type
- Amino acids
- Feed enzymes
- Feed Acidifiers
Global Animal Feed Market, By Form
Global Animal Feed Market, By Livestock
Animal Feed Market, By Regional Analysis
- North America
- Rest of Europe
- Asia Pacific
- South Korea
- Rest of Asia Pacific
- South America
- Rest of South America
- Middle East & Africa
- Saudi Arabia
- South Africa
- Rest of the Middle East & Africa
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