Animal Feed Industry To Grow Up Due To Rising Consumption Of Processed Aqua, Dairy And Poultry Products

 

Animal feed industry data book covers poultry feed, cattle feed, swine feed, aquafeed and pet food market.

The global animal feed industry was estimated at 1,179 million tons in 2022 and is anticipated to grow at a compound annual growth rate (CAGR) of 2.9% from 2023 to 2030.

Global animal feed sector data book is a collection of market sizing information & forecasts, trade data, pricing intelligence, competitive benchmarking analyses, macro-environmental analyses, and regulatory & technological framework studies. Within the purview of the database, such information is systematically analyzed and provided in the form of outlook reports (1 detailed sectoral outlook report) and summary presentations on individual areas of research along with a statistics e-book.

Poultry Feed Market Analysis & Forecast

The global poultry feed market size was valued at 555.9 million tons in 2022, growing at a CAGR of 2.6% from 2023 to 2030. The demand can primarily be attributed to the increasing poultry farming to cater to the rising demand for chicken meat and eggs globally. Poultry is considered as one of the most economical sources of protein owing to which poultry products such as egg and meat are consistently witnessing growth in demand. According to the United States Department of Agriculture (USDA), the global production of chicken meat, with a growth of 2%, is likely to reach 97.8 million tons in 2019.
Asia Pacific was the largest in 2018 with a market volume share of 34.8%. The presence of a huge population and increasing disposable incomes are likely to trigger the market growth at the fastest rate in Asia Pacific. In the U.S., nearly thirty-five companies (federally inspected) are engaged in raising and processing of chicken. The European poultry feed industry is driven by innovation and highly regulated.

Cattle Feed Market Analysis & Forecast

The global cattle feed market size was valued at 240.0 million tons in 2022 and is expected to grow at a compound annual growth rate (CAGR) of 2.9% from 2023 to 2030. The industrialization of cattle products like meat and dairy products, along with the growing population, has positively influenced the market globally. The increase in consumer awareness about the safety of meat and milk products, along with the nutritional content of the food, emerged as the key driver for market growth. Cattle can be segmented into young ruminants and mature ruminants. Based on the age of these ruminants, the additives include amino acids, vitamins, feed acidifiers, antibiotics, feed enzymes, antioxidants, and others. Vitamin A and mineral pack products like Availa-4, 20-10 Plus Mineral are widely used to improve immune function, reproduction, and vision and reduce cattle’s deficiencies.

North America led the market and accounted for over 34% share of the global revenue in 2019. Growing meat consumption, mainly in the U.S., coupled with stringent regulations regarding meat quality, is expected to drive the regional market over the forecast years. Spain and Germany emerged as significant markets in Europe. The presence of 330 feed mills in Germany will support market growth in Europe.

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Swine Feed Market Analysis & Forecast

The global swine feed market size was estimated at 310.1 million tons in 2022 and is expected to expand at a CAGR of 3.3% over the forecast period. Rising consumption of pork meat is expected to drive the product demand in the market. The product provides nutrition to swine and nurtures them. The additives are an important source of nutrition as they enhance as well as make the product more digestible. Enzymes, amino acids, antimicrobials, and antioxidants are the additives found in the diet of swine.

Asia Pacific witnessed remarkable growth and emerged as the largest market, both in terms of volume and revenue, in 2018. China accounted for nearly 50% percent of the global pork production in 2018 and is projected to witness increasing demand for swine feed, which, in turn, is expected to fuel the demand for the product in Asia Pacific. North America is the largest exporter of pork and is likely to see high demand for the product over the forecast period.

Aquafeed Market Analysis & Forecast

The global aquafeed market size was valued at 40.7 million tons in 2022 and is anticipated to grow at a compound annual growth rate (CAGR) of 3.5% from 2023 to 2030. The product demand is anticipated to be driven by its increasing consumption in the cultivation of various aquatic species, such as tilapia, carp, catfish, and salmon. The global industry is highly fragmented owing to the presence of many players, such as BioMar Group, Cargill, Inc., and Charoen Pokphand Foods PCL. These market players are focused on mergers & acquisitions, partnerships, portfolio expansions, and collaborations to strengthen their presence in the value chain. For instance, Cargill has recently launched a new line of plant-based aquafeed called “Ewos Naturligvis” in Norway. The product is made from sustainable ingredients, such as wheat, soy, and corn, and it is designed to provide optimal nutrition to fish while minimizing the environmental impact.

The Asia Pacific region dominated the global industry in 2022 and accounted for the largest share of more than 44.10% of the overall revenue. The North America regional market is also projected to have significant growth over the forecast years. The aquaculture sector in North America is estimated to witness rapid growth over the forecast period owing to the rising consumption of seafood, such as salmonids, mollusks, hard clams, oysters, and mussels.

Pet Food Market Analysis & Forecast

The global pet food market size was valued at 31.8 million tons in 2022 and is anticipated to exhibit a compound annual growth rate (CAGR) of 3.6% from 2023 to 2030. The demand for the product is anticipated to be driven by growing consumer inclination toward adoption of pets along with rising concerns regarding their health. Improvement in the overall digestion and performance of pet animals owing to the consumption of nutritious food is also likely to boost market growth in the forecast period. The pet food products which are available in the global market rarely vary. This, in turn, has prompted the manufacturers to include multi-functional and innovative ingredients in their products in order to curb such similarity bias.

North America dominated the market with a revenue share of 43.11% in 2022. This is attributed to the rising consumer awareness regarding the beneficial impact of the product on the health along with the increasing trend of humanization of pets. The U.S. dominated the North American market in 2022 owing to high percentage of pet ownership along with the presence of a well-developed pet food industry. Europe accounted for the second largest revenue share globally. According to European Pet Food Industry Federation (FEDIAF), Europe is one of the largest markets for the pet food industry, accounting for approximately 30% of the total pet care and pet food sales across the globe.

Go through the table of content of Animal Feed Industry Data Book to get a better understanding of the Coverage & Scope of the study.

Animal Feed Industry Data Book Competitive Landscape

Manufacturers formulate animal feed as per the standard nutritional requirements of domesticated animals. The manufacturing process is similar to processed food, except for ingredients. Meat-based raw materials are processed/rendered to separate protein components, water, and fat. The manufacturing process also entails grinding, cooking, and mixing the aforementioned raw materials with other ingredients. The entire mixture is shaped into various forms depending on the requirements.

Key players operating in the animal feed industry are –

• J.M. Smucker Company
• The Hartz Mountain Corporation
• Mars, Incorporated
• Hill’s Pet Nutrition, Inc.
• Nestlé Purina
• LUPUS Alimentos
• Total Alimentos
• General Mills Inc.
• WellPet LLC