Animal Feed Market Insights, Potential Business Strategies, Mergers and Acquisitions, Revenue Analysis – 2020– 2028
animal feed market
Animal Feed Market Research Report, By Form (Pellet, Crumb, Mash, Other), By Type (Poultry, Ruminant, Pig, Aqua, Other) – Forecast To 2027
NEW YORK, NEW YORK, UNITED STATES, Jan. 13, 2022 /EINPresswire.com/ — The global pet food market is growing rapidly, primarily due to increasing demand for dairy and meat products as the world population increases. In order to meet this growing demand for livestock, operators must take optimal care of their cattle/poultry. They ensure their animals are fed the best possible nutrition and care, which as a result fuels market growth.
According to Market Research Future (MRFR), the global animal feed market is expected to grow to USD 617.61 billion by 2023. In its latest study report, MRFR also claims that the market would register a CAGR of 4.27% throughout the forecast period (2018 – 2023). The increasing prevalence of metabolic diseases in animals such as dairy cattle/goat/pigs etc. leads to a huge market demand.
As food is the dominant factor in the supply chain, the feed market is always in high demand. When adequately provided, animal feed leads to good milk and meat production. Feed for dairy cattle is increasing due to global demand for food. At the same time, the growing demand for dairy products such as chocolate, powdered milk and yoghurt is gradually boosting the global animal feed market.
It is also important to consider how animal feed affects animal health and therefore the health of the people who consume these animal products. For example; Chemical additives in feed can accumulate in animal tissues, which can expose consumers to chemicals such as veterinary drug residues and heavy metals.
Also, grain-based diets can cause serious and sometimes fatal digestive problems in animals like cows, goats, and sheep because their stomachs are adapted for digesting high-cellulose plants like grass. Such increasing concerns about the content of pet food are hampering the growth of the market.
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Global Animal Feed Market – Segments
The market is divided into three dynamics to increase understanding.
By shape: pellets, crumbles, porridge and others.
By species: poultry, ruminant, aqua, swine and others.
By regions: Europe, North America, Asia Pacific and the rest of the world.
Global Animal Feed Market – Regional Analysis
The feed market in Asia-Pacific is lively. APAC, with India as the largest contributor, is the world’s largest producer and consumer of milk, the rapidly growing demand for milk. In addition, the demand for meat production in the region is increasing too much. The APAC market continues to evolve to maintain the balance of supply and demand.
The animal feed market in the region is projected to grow from US$179.93 billion to US$226.91 billion by 2023, growing at a CAGR of 4.75% over the forecast period. While APAC production may increase in volume to 485.75 million tons by 2023, with a 4.20% increase over the assessment period.
The North American Animal Feed Market can register growth of up to USD 131.7 billion at a CAGR of 3.93% during the period. In terms of volume, the market can grow to 270.3 million tons by 2023, with a CAGR of 3.81%. The market forecast for the US, the largest market in the region, is estimated at $97 billion by 2023.
The European animal feed market is also growing significantly. The EU and Eastern Europe is the second largest market for dairy and meat products. As a result, the dairy cattle feed market is growing exponentially in these regions.
The European feed market may grow from $125.33 billion in 2018 to $155.39 billion by 2023, at a CAGR of 4.67% over the expected period. Spain is the largest market in the region, valued at $21.06 billion. The total production of animal feed in Europe is estimated at USD 335.89 million by 2023.
Global Animal Feed Market – Competitive Analysis
The animal feed market, characterized by the presence of many large and small companies, appears to be very competitive and fragmented. In order to gain a significantly larger market share, the players integrate strategic initiatives such as mergers and acquisitions, collaboration, expansion and product launch.
Strategic partnerships between manufacturers support the growth and expansion plans of these players. They invest heavily to drive these strategic initiatives and R&D to develop a new production technology. Manufacturers invest heavily in cutting-edge research and development to support the innovation pipeline. These players compete based on price, quality, reputation, and services.
Browse Full Report Details at https://www.marketresearchfuture.com/reports/animal-feed-market-1611
Leading players in the animal feed market include Archer Daniels Midland (ADM) Company (USA), Neovia Group (France), COFCO Limited (Hong Kong), ForFarmers NV (Netherlands), New Hope Group (China), Charoen Pokphand Group (Thailand) . ), Japfa Comfeed Indonesia Tbk (Indonesia), Cargill, Inc. (USA), Land’ O Lakes Inc. (USA) and NUTRECO NV (Netherlands).
Industry/ Innovation/ Related News:
08 October 2019 —- Nutreco NV (Netherlands), a pet food and aquatic feed manufacturer, announced the acquisition of Animal Nutrition and Health (South Africa), a premix company from Kaonne Investments. The acquired company will now be fully integrated into Trouw Nutrition South Africa.
The said deal is part of Nutreco’s strategy to expand its base in Africa. This step ensures that the company can bring its products to even more farms in the country. South Africa is the continent’s largest producer and feed market and acquiring such a stable company will undoubtedly help Nutreco to grow at a greater scale. As part of the acquisition, Kaonne and Trouw Nutrition will continue to work together.
NOTE: Our research team is studying Covid19 and its impact on various industry sectors and wherever required we will consider Covid19 footprints for better market and industry analysis. Warmly contact us for more details.
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January 13, 2022 at 07:23 GMT
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