Animal Feed Market Growth 2024-2028 : Key Trends and Insights

The Global Animal Feed Market  is projected to grow by USD 134.40 billion, with a compound annual growth rate (CAGR) of 4.75% between 2023 and 2028. This growth is driven by increased investments, expanded production capacities for animal feed additives, and strategic partnerships and acquisitions. The rise in global meat production, especially in poultry, beef, veal, and chicken, is significantly contributing to the demand for animal feed additives and products

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Animal Feed Market Segmentation:

By Type:

• Poultry: Dominates the market due to growing poultry meat consumption.
• Swine: Important in maintaining livestock productivity.
• Ruminant: Key for cattle nutrition.
• Aquaculture: Essential for fish, crustaceans, and algae.
• Others: Includes feed for various animals like pets and horses.

By Product:

• Pellets: Highly efficient and commonly used.
• Mash: Traditional and popular form.
• Crumbles: Convenient and widely used in poultry feed.

Regional Market Trends:

North America:

• U.S.: The North American market faces challenges due to reliance on imported ingredients, fluctuating prices, and regulatory hurdles in poultry feed. However, innovations in feed additives are supporting growth.
• Canada: Plays a significant role in meat production, contributing to demand for feed additives.

Europe:

• U.K.: Strives to address feed quality issues, with an increasing focus on animal welfare.
• Germany, France, and Rest of Europe: Key markets are enhancing feed production systems to meet growing meat demands.

Asia-Pacific (APAC):

• China, India: These countries are major contributors, with rapid growth in beef, veal, and poultry production.
• Growth Drivers: APAC leads in livestock population and meat production, driving demand for feed additives.

South America:

• Brazil, Chile: Expanding meat production is boosting the demand for high-quality feed.

Middle East & Africa:

• Saudi Arabia, South Africa: Increasing feed production and livestock farming are major factors driving regional growth.

Market Dynamics:

Market Drivers:

• Investment in Feed Additives: Significant investments are being made to enhance production capabilities, especially in feed additives like vitamins, trace minerals, and antioxidants.
• Rising Demand for Meat: Growing global meat consumption, especially in developing regions, fuels the need for high-quality animal feed.

Significant Market Trends:

• Aquaculture Growth: The farming of aquatic species is expanding, which requires specialized feed.
• Aquaponics Systems: The rise of systems combining aquaculture with hydroponics is further driving demand for quality feed.

Key Challenges:

• Clean Meat Products: The rise in clean meat production, created using cellular technology, presents a challenge by reducing the reliance on traditional animal farming.

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Key Market Players:

1. Adisseo Co.
2. Alltech Inc.
3. Archer Daniels Midland Co.
4. Associated British Foods Plc
5. BASF SE
6. Biochem additives and product mbH
7. BRF
8. Cargill Inc.
9. Charoen Pokphand Foods PCL
10. Chr Hansen Holding AS
11. Corbion nv
12. Evonik Industries AG
13. International Flavors and Fragrances Inc.
14. Jefo
15. Kemin Industries Inc.
16. Kent Nutrition Group Inc.
17. Land O Lakes Inc.
18. New Hope Group Co. Ltd.
19. Trouw Nutrition
20. Tyson Foods Inc.