Published on: May 10, 2024
The animal feed market size is estimated to grow at a CAGR of 5.34% between 2022 and 2027. The market size is forecast to increase by USD 146.56 billion. The growth of the market depends on several factors, including increasing urbanization, rising middle-class income, and growing meat consumption globally. Technological advancements in feed formulation and production methods are also expected to contribute to the market’s growth.
The animal feed market is essential to the global livestock industry, providing nutrition to various species such as poultry, cattle, swine, and aquatic animals. It encompasses a diverse range of products, including compounds, concentrates, premixes, and raw materials.
Aquafeed and Aquaculture Additive Market
As the global population grows and demand for food of all kinds rises, aquafeed and aquaculture additives are of growing importance. These feed ingredients can improve the growth and health of fish, helping to ensure a reliable supply of seafood products. Feed additives help provide fish with a balanced, nutritious diet that includes amino acids, vitamins and minerals, antibiotics, and other supplements.
Consumers are increasingly demanding natural and organic products, which is driving demand for natural and organic feed products as well. Manufacturers are therefore using more natural ingredients as supplements in insect protein and plant-based protein feeds.
This report consists of a comprehensive analysis including market size, forecast, drivers, trends, competitive landscape, and other key industry dynamics.
Key drivers the animal feed market include a rising demand for animal-derived protein, particularly in emerging economies, and the expansion of the livestock industry to meet growing meat and dairy consumption.
The animal feed market also faces challenges such as regulatory constraints around the use of additives and antibiotics, as well as the environmental concerns associated with livestock production. Regulatory frameworks vary by region and typically address issues such as feed safety, labeling requirements, and the use of additives. Manufacturers must also address issues such as nutritional density, feed wastage, and the practicality of feed storage and transportation.
There are many opportunities in the animal feed market as well. Developing innovative feed formulations tailored to specific animal dietary requirements and production goals is one way for manufacturers to build a niche for themselves. Technological advancements, such as pelletization techniques and customized nutrition solutions, enable feed producers to enhance feed efficiency, digestibility, and animal performance.
APAC is projected to account for 46% of the market’s growth by 2027. Technavio’s analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period.
The rising production of beef, veal, and poultry in APAC is one of the factors driving the growth of the market during the forecast period. Meat market companies are ramping up production to meet the growing demand for meat products. In turn, increased meat production will increase the demand for animal products in APAC during the forecast period.
Technavio's animal feed industry reports monitor the leading players in the global market along with their current and forecasted market share. Our analysis covers regional and global companies. Some of the top companies covered in our animal feed market reports include:
In order to provide you with a comprehensive view of the animal feed industry, our experts analyze the market from many different perspectives. Our reports help identify opportunities, risks, key competitors, and more, helping you make timely, informed decisions to optimize your position in the market.
Technavio reports insights include:
Technavio’s market research reports provide an analysis of current trends and how they are affecting the market. We also identify market drivers and challenges to help you discover opportunities and avoid pitfalls.
Every Technavio report includes detailed segmentation insights, breaking down the market in terms of product type, geography, sales channels, and more. And if you’re looking for something a little more specific, our Custom Research Solutions can tailor any report to meet your unique needs.
We provide detailed profiles on the biggest competitors in the market, including data such as business divisions, product offerings, and news. Our reports also include an overview of the competitive landscape as a whole, including the risks and opportunities that it presents.
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