Global Animal Feed Market By Type ( Roughages, Concentrates ), By Application( Swine, Fish, Poultry, Livestock, Others ), By Region and Key Companies - Industry Segment Outlook, Market Assessment, Competition Scenario, Trends and Forecast 2023-2033

In 2023, the global animal feed market was worth USD 482.1 Bn. The market is projected to grow at a 3.5% annual rate between 2023 and 2033. Animal feed is any food product that can be grown and processed for human consumption, including poultry, swine, and aquatic animals. It is made by mixing products with high nutritional contents such as silage and straw, oils, sprouted grain, legumes, and oils. It is high in protein, fiber, and carbohydrates. It also provides energy for animals to support their muscular activity and sustain life processes.

Animal Feed Market Scope:

By Type, the market is segmented into Roughages and Concentrates. By Application, the market is divided into Swine, Fish, Poultry, Livestock, and Others.

Based on geography the market is analyzed across North America, Europe, Asia-Pacific, Latin America, and the Middle East and Africa. Major players profiled in the report include Cargill, ADM, Tate & Lyle, Sodrugestvo, Agridient, Om Agro, Santosh Limited, Pawar Agro Industries, Commodity Specialists Company, Paramesu Biotech Private Limite, Maize, Meihua Group, Chrysanthemum Bioengineering, COFCO Corporation, Zhucheng Xingmao, Eppen, Fuyang Biotechnology, ZhuchengDongxiao Biotechnology, and New Hope Group.

Growing Demand:

The key drivers of market growth are the rising demand for meat, animal-based products, and consequently increased commercial livestock production. The growing awareness of health among consumers has led to rising demand for meat and dairy products as a source of various nutrients. This is positively impacting animal feed requirements.

The market is also growing due to increasing awareness about the health benefits of using algae-based ingredients in animal food. Microalgae are crucial in enriching animal feed with nutrients to support the development of livestock’s early stages. It helps to produce premium-quality eggs, milk, and meat and boosts physical growth. To meet consumers’ desire for natural food, vendors are also incorporating non-Genetically Modified Organisms in animal feed.

The market will be driven by other factors such as the increasing spending capacity of consumers, extensive research, and development (R&D), and the implementation of favorable government policies that promote the use of high-quality animal feed.

Key Market Segments

Type

Roughages

Concentrates

Application

Swine

Fish

Poultry

Livestock

Others

Key Market Players included in the report:

Cargill

ADM

Tate & Lyle

Sodrugestvo

Agridient

Om Agro

Santosh Limited

Pawar Agro Industries

Commodity Specialists Company

Paramesu Biotech Private Limite

Maize

Meihua Group

Chrysanthemum Bioengineering

COFCO Corporation

Zhucheng Xingmao

Eppen

Fuyang Biotechnology

ZhuchengDongxiao Biotechnology

New Hope Group

Driving Factors:

The escalating animal population and demand for animal products will increase the growth

Large-scale livestock production is essential to meet the growing demand for livestock products. Farm animals are important for both economic and social reasons. Small-scale farmers around the world still depend on livestock to support their livelihoods. Food and Agricultural Organization (FAO) estimates that the livestock sector contributes nearly 40% to total agricultural output in developed countries and 20% in developing countries. This supports the livelihoods of 1.3 billion people worldwide. The global livestock sector also provides 34% of the food protein.

Increasing incomes, changing diets, and increasing population have all contributed to an increase in demand for animal products. In recent years, the consumption of animal products like meat, eggs, and milk has increased. FAQ reports that the North American average for meat consumption was 34 kg, while the average global figure is 97 kg. Asia Pacific and Africa are the regions that consume the most meat per capita, with a combined consumption of 13 kg and 27 kg respectively. respectively. In the USA, 64 kg of milk was consumed in 2020, while New Zealand and Australia had 99 kg and 109 respectively.

Due to the increase in animal production and the high demand for animal products, compound feed will be more in demand.

Increasing focus on animal health and nutrition to drive growth

Livestock farmers in both developing and developed countries are keen to improve the health of their animals. Healthy animals can help eliminate hunger and ensure sustainable food production. Animal products are not only a source of food but also provide income to small farmers and animal owners in developing countries.

The safety and quality of animal feed are crucial to meeting the domestic demand for high-quality, safe food for all animals. The livestock industry plays an important role in animal nutrition. It contributes significantly towards nutrient-efficient livestock production. Animal nutrition science also promotes the safety and quality of animal products for human consumption. It enhances animal welfare and health. The reduction of greenhouse gas emissions and land use associated with livestock production is also possible through animal nutrition science. For example, per liter of milk, or per kg of meat and egg.

The rising importance of animal nutrition and health is expected to drive the demand for compound food.

Restraining Factors:

Fluctuating raw material prices and stringent government regulations to limit market growth

Rising raw material prices around the world and strict government regulations in developed nations are major factors in compound feed market growth. Feed costs and nutritional value are key factors in determining the type and amount of animal feed raw materials used. Changes in weather conditions have a significant impact on the price, production, and nutrition content of plant-based materials like com, soybean, etc. Prices for animal byproduct meals can also fluctuate depending on the production and consumption of animal or animal products.

Adissed’s report “How to overcome the cost of raw materials” states that raw material prices rose dramatically in 2020. Cereal prices rose by 10%, protein meals by 20%, and soybean oil prices saw an 8-10% increase.

Common rules for animal feed include feed hygiene, feed composition, and measures relating to safety. Feed manufacturers must comply with these requirements to be approved for use and marketing in the region. According to European regulations, feed must contain at least three raw materials.

Key Market Trends:

Increasing Industrialization in Livestock Production in Developing countries

The increasing population and the desire to meet the nutritional and culinary preferences of people in developing countries have led to an increase in the industrialization of livestock production. Cattle rearing was traditionally a hobby in the backyard of many people living in developing countries. Cattle rearing has begun to change in these countries due to increased demand and awareness about the economics of larger herds. According to FAO, India’s cattle population has increased from 191 million to 194.4 million from 2017 to 2020. India also produced 187.7 Million metric tons of milk in 2019, an increase of 13.4% over 2017.

FAO estimates that in 2020, 41.5 million tonnes of cow milk was produced in land-locked countries. The cattle population grew to 265,000,000 heads in 2020, from 230 million in 2017. Industrialization would result in the adoption of advanced management techniques, such as compound feeds in the appropriate doses. This will boost the growth rate of the cattle feed industry over the forecast period.

Recent Developments:

Kemin Industries presented architectural renderings in July 2020 of a new quality-control lab that will enhance its innovation capabilities and research capabilities. It will be located at its headquarters in Des Moines.

Kemin Industries combined a US patent application in July 2020 to detect the African Swine Fever virus within the feed.

Alltech announced a partnership in March 2020 with aqua feed nutrition company Corey Nutrition. This partnership will allow Alltech to expand its product line for fish farmers across North America.