Animal Feed Market Size to grow by USD 134.4 billion between 2024-2028
According to a research report “ Animal Feed Market” by Type (Poultry, Swine, Ruminant, Aquaculture, Others) Product (Pellets, Mash, Crumbles) Geography (APAC, Europe, North America, South America, Middle East and Africa)- Global Forecast to 2028 published by Technavio, the market size is estimated to grow by USD 134.4 billion, at a CAGR of over 4.75% during the forecast period. In the animal feed market, manufacturers are strategically expanding their production capacities to meet the surging global demand for animal feed products. This growth trend is driven by the increasing consumption of meat worldwide. Notably, De Heus, a Koudijs subsidiary, recently invested USD9.2 million in a new feed additive plant in Ukraine, while Diamond V, a Cargill subsidiary, expanded its US facility to accommodate its entire product line for animal immune support. These investments underscore the market's potential and vendors' commitment to catering to customers' evolving needs on a global scale.
Browse market data tables, figures, and in-depth TOC on “Animal Feed Market” by Type (Poultry, Swine, Ruminant, Aquaculture, Others) Product (Pellets, Mash, Crumbles) Geography (APAC, Europe, North America, South America, Middle East and Africa) Global Forecast to 2028. Download Free Sample
By Type, the Poultry segment is projected to dominate the market size in 2024
In the animal feed industry, pellets represent a popular and efficient solution for both producers and end-users. These small, cylindrical-shaped pieces of feed are produced using pellet mills and offer several advantages over alternative forms like mash or crumbles. The uniform size and shape of pellets ensure consistent nutrition for various animal species, including cattle, poultry, swine, and fish. Manufactured from a diverse range of feed ingredients, such as grains, soybeans, alfalfa, and forage plants, pellets can be formulated to cater to the unique nutritional requirements of different animals. Their ease of handling, storage, and transport further bolsters their appeal in the market.
By Product, Pellets segment is expected to hold the largest market size for the year 2024
The global poultry feed market is poised for significant growth due to the increasing consumer preference for poultry meat, which is free from religious implications and widely consumed in key emerging markets such as China, Brazil, and India. To cater to the expanding poultry production in these regions, market vendors are introducing innovative poultry feed products to meet the rising demand for poultry meat during the forecast period. This trend is expected to drive the growth of the poultry feed market.
APAC is forecasted to hold the largest market size by region in 2024
The animal feed market is a significant business sector, catering to the nutritional requirements of livestock and agricultural animals. This industry is driven by the demand for high-quality feed to ensure optimal animal growth and productivity. Key market trends include the adoption of technology for feed production, increasing focus on sustainable and organic feed options, and the rising demand for animal protein in the food industry. Companies in this sector are investing in research and development to create innovative feed solutions that meet the evolving needs of farmers and livestock producers.
The Animal Feed Market growth and forecasting report also includes detailed analyses of the competitive landscape of the market growth and forecasting and information about 20 market companies, including:
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Research Analysis Overview
The Animal Feed Market is a significant sector in the agriculture industry, playing a crucial role in ensuring optimal Animals' performance and better health in Livestock. Animal nutrition is at the core of this market, with a focus on providing Nutritious Feed for cattle, swine, and poultry. Feed Additives, such as antioxidants, play a vital role in enhancing Feed Quality and improving Animal Productivity. The market facets of Animal Feed are diverse, ranging from Food Safety concerns to Molecular Biology advancements. Global Meat Consumption and Meat Production are key drivers of this market, with Slaughterhouses being major consumers of Animal Feed. The use of Solid Feed Additives is a lucrative growth area, addressing issues like Animal Disease and ensuring better health and productivity. The Poultry Segment holds a significant share in the Animal Feed Market due to increasing global demand for poultry meat. Livestock Diet is continually evolving, with a focus on incorporating essential Vitamins and Minerals to optimize Animal Nutrition. The integration of Molecular Biology in Animal Feed Production is another emerging trend, ensuring a more efficient and sustainable industry. Overall, the Animal Feed Market is poised for continued growth, driven by the need for better animal health, increased productivity, and global meat consumption trends.
Market Research Overview
The Animal Feed Market is a significant sector in the global agriculture industry, driven by the increasing global meat consumption and the need for nutritious animal diets. Food safety and animal welfare are key concerns in this market, leading to the adoption of molecular biology techniques for producing safe and efficient feed additives. Solid feed additives, such as trace minerals and antioxidants, play a crucial role in enhancing animal productivity and ensuring better health. The market for animal feed is diverse, with different segments catering to chicken meat, pig meat, cattle feed, swine feed, and poultry feed. The competitive landscape of the market is shaped by market research reports and the changing market facets, including growing disposable income, changing diet patterns, and the shift towards sustainable protein sources. Animal diseases and stringent regulations are major challenges in the animal feed market. However, the market scenario is lucrative, with growth drivers such as increasing meat production in developing regions and the demand for nutritious feed for farm animals. Feed manufacturing companies are focusing on producing high-quality feed ingredients, such as soy feed, to meet the nutritional requirements of animals. Animal feed premixes, which contain a combination of vitamins, minerals, and other additives, are gaining popularity due to their ability to improve animal performance. Slaughterhouses and meat production facilities are also integrating animal feed manufacturing to ensure a consistent supply of nutritious feed to their livestock. The market for animal feed is expected to witness significant advancements in the coming years, with a focus on sustainable animal additives and improving animal welfare.
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