Animal Feed Industry One Of The Vital Link In The Food Supply Chain

 

 

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. Poultry is considered as one of the most economical sources of protein, therefore, poultry products such as egg and meat are consistently witnessing growth in their demand. The market is likely to witness strong growth owing to increasing demand for protein-rich diet and increased production of feed across North America. The presence of well-established industry is another major driver triggering the product demand and, in turn, the overall market growth.

 

The market is fragmented and competitive with the presence of major global players. In the U.S., nearly 35 companies (federally inspected) are engaged in raising, marketing, and the processing of chicken. These companies are vertically integrated throughout the poultry value chain to ensure the quality of feed product. Brazil, the U.S., India, Mexico, Colombia, Thailand, and Russia registered the highest growth rate, in terms of chicken production, between 2014 and 2018. Demand for poultry products heavily depends upon the population and income factor. According to the Food and Agriculture Organization (FAO), the consumption of milk, eggs, and meat in low and middle-income economies increased by more than 300% in the last 30 years.

 

Access the Global Animal Feed Industry Data Book from 2023 to 2030, compiled with details by Grand View Research

 

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. Growing concerns of farmers regarding the yield and cattle health have resulted in high demand for high-quality ingredients and additives across the globe. According to the Veterinary Feed Directive (VFD), antibiotics in feed without a prescription from VFD should be avoided owing to infectious agents present in them.

 

Thus, as a replacement, ingredients like ionophores, prebiotics, probiotics, and enzymes are used as feed additives. Ionophores like Rumensin and Bovatec improve feed efficiency and reduce the risk of bloat and acidosis. XPC, Fermenten are some of the major products used to enhance productivity, minimize infections, and provide better immune to cattle. Thus, the cattle feed segment has tremendous growth opportunities due to a rise in the customization of meat and dairy products.

 

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. Increasing awareness among consumers concerning the quality of pork is compelling swine farmers to utilize additives that keep swine healthy as well as immune to diseases and disorders. Also, the use of enhanced additives is expected to reduce the occurrence of infections as well as illnesses in swine, thereby contributing to the increasing demand for the product worldwide.

 

Manufacturers in the market are constantly evaluating techniques to enhance growth performance as well as lower product costs. Physical forms, such as mash, crumbles, and pellets, play a crucial role in determining the quality and yield of pig meat. Rising urbanization and establishment of fast food restaurant chains are expected to augment the demand for pig meat. The trend is becoming increasingly prevalent in the emerging economies of Asia Pacific including China, India, and Malaysia. Population growth is another key factor that is expected to drive meat consumption globally. These factors together are expected to augment the demand for animal proteins, which, in turn, is likely to propel the demand for the product and additives 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 growth is majorly driven by the rising consumption of aquafeed by species like carp, catfish, salmon, and shrimps, among others due to its rich protein content. The future of the global market is dependent on the increasing acceptance of aquafeed, which contains essential oils, feed acidifiers, natural extracts, and palatants, which are important for aquaculture species in their overall growth across each stage of development. The widespread fish mortality due to various infections, which are caused by parasites is driving the product demand. These feed products are consumed by various fish species, such as catfish, salmon, trout, tilapia, shrimps, largemouth bass, and eel.

 

These feeds for aquatic species are a source of omega-3 fatty acids and proteins. It improves the nutritional value of feed and offers several other benefits like improved growth rate, reduced mortality of various aquatic species, digestibility of proteins, and enhanced immune system. The COVID-19 pandemic had crippled the economies of the world and severely impacted the supply chain across key industries. The distribution of raw materials for aquafeed was affected by the pandemic due to which its production was hampered. In addition, strict lockdowns were imposed to curb the spread of the virus. Due to this, many manufacturing and production units were closed. Furthermore, there were rumors of transmission of the virus through poultry, which, in turn, hindered market growth.

 

Order Free Sample Copy of “Animal Feed Industry Data Book – Poultry Feed, Cattle Feed, Swine Feed, Aquafeed and Pet Food Market Size, Share, Trends Analysis, And Segment Forecasts, 2023 – 2030” published by Grand View Research

 

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 global pet food products have witnessed substantial demand over the past few years owing to the advent of online purchasing and notable contribution of e-commerce in shaping and strengthening the industry. Trends influencing the growth of this industry include launches of new products, online private brands, treats, and novel technologies.

 

Consumers do not prefer traditional products for their pet’s consumption. They try to comprehend the ingredients list and usually opt for healthier available alternative in the market. Consumers prefer made-to-order, frozen, and fresher meals for their pets. Although these types are comparatively expensive, customers are willing to pay more for healthy items for the consumption for their household pets. The outbreak of COVID-19, which has led to the closure of factories, production units, and manufacturing sites globally, there has been significant decline in the global demand for pet food ingredients and raw materials. Due to the ongoing pandemic, several production plants have been completely or partially shut down while others are running at reduced rates, which may result in a supply-demand gap globally.

 

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