Global Animal Feed Industry Report 2023-2030: Novel Sources Segment Projected to Grow at Highest Rate, Poultry Segment Leads, Aquaculture Segment Grows Rapidly
DUBLIN, Feb. 6, 2024 /PRNewswire/ -- The "Animal Feed Market by Type, Source, Form, and Geography - Global Forecast to 2030" report has been added to ResearchAndMarkets.com's offering.
The animal feed market is projected to reach $961.2 billion by 2030, at a CAGR of 4.6% during the forecast period 2023-2030
The report provides an in-depth analysis of the global animal feed market across five major regions, emphasizing the current market trends, market sizes, recent developments, and forecasts till 2030.
The growth of this market is driven by the increasing commercialization of the livestock sector, the rising demand for animal-based products, and the growing focus on research & development in the animal feed sector. However, fluctuating raw material prices restrain the growth of this market. Additionally, the growing awareness about animal health is expected to generate growth opportunities for the players in this market.
Asia-Pacific is slated to register the highest CAGR during the forecast period, mainly due to growing support by the government to strengthen the agricultural sector, economic expansion, increasing focus on animal productivity, and modernization of the livestock & meat sectors.
Based on type, the global animal feed market is segmented into compound feed, feed concentrates, and roughages.
In 2023, the compound feed segment is expected to account for the largest share of the global animal feed market. The large share of the compound feed segment is attributed to their comparatively higher price and rising demand for these formulated feed among commercial livestock farmers and pet owners to ensure appropriate nutrition for animals for faster and healthy growth because of the rising prevalence of animal diseases, the growing rate of livestock industrialization, and the high demand for quality meat and dairy products.
Based on source, the global animal feed market is segmented into plant-based, animal-based, fodder & DDGS, and novel sources.
In 2023, the plant-based segment is expected to account for the largest share of the global animal feed market. The large market share of this segment is attributed to the abundant availability of raw materials, widespread acceptance of plant-based animal feed, and low cost of plant-based feed sources.
However, the novel sources segment is projected to register the highest CAGR in the global animal feed market during the forecast period of 2023-2030. The growth of this segment is attributed to the high nutritional profiles of novel sources, government approvals to integrate these innovative sources into feed products, and the need to explore new protein sources to meet the rising global demand for animal protein due to the rapid population growth.
Based on form, the global animal feed market is segmented into dry feed and wet feed.
In 2023, the dry feed segment is expected to account for the larger share of the global animal feed market. The large share of this segment is attributed to convenience for handling, storage & transport, and longer shelf life, less cost, nutrient stability, controlled feeding, higher nutritional density, and bulk purchase.
Based on animal type, the global animal feed market is segmented into poultry, ruminants, swine, aquaculture animals, and other types.
In 2023, the poultry segment is expected to account for the largest share of the global animal feed market. However, the aquaculture segment is projected to register the highest CAGR during the forecast period of 2023-2030. The rapid growth of this segment is mainly attributed to increasing aquaculture production, demand for a nutritious diet for the proper growth and development of aquaculture species, and rising consumption of fish and fish-based products.
Key Questions Answered in the Report:
- What is the current revenue generated by animal feed globally?
- At what rate is the global animal feed demand projected to grow for the next 5-7 years?
- What are the historical market sizes and growth rates of the global animal feed market?
- What are the major factors impacting the growth of this market at the regional and country levels? What are the major opportunities for existing players and new entrants in the market?
- Which segments in terms of type, source, form, and animal type are expected to create major traction for the manufacturers in this market?
- What are the key geographical trends in this market? Which regions/countries are expected to offer significant growth opportunities for the manufacturers operating in the global animal feed market?
- Who are the major players in the global animal feed market? What are their specific product offerings in this market?
- What are the recent strategic developments in the global animal feed market? What are the impacts of these strategic developments on the market?
Market Insights
Factors Affecting Market Growth
- Growing Commercialization of the Livestock Sector Driving the Adoption of Animal Feed
- Rising Demand for Animal-based Products Increasing Livestock Production and Utilization of Animal Feed
- Increased Focus On Research & Development In the Animal Feed Sector
- Fluctuating Raw Material Prices Impacting Animal Feed Production
- Growing Awareness About Animal Health Positively Influencing the Demand for Animal Feed
Pricing Analysis
- Compound Feed
- Feed Concentrates
- Roughages
Company Profiles (Company Overview, Financial Overview, Product Portfolio, and Strategic Developments)
- Charoen Pokphand Foods PCL (Thailand)
- New Hope Liuhe Co. Ltd. (China)
- Cargill Incorporated (U.S.)
- Brf S.A. (Brazil)
- Tyson Foods Inc. (U.S.)
- Nutreco N.V. (Netherlands)
- Archer-Daniels-Midland Company (U.S.)
- Alltech Inc. (U.S.)
- ForFarmers N.V. (Netherlands)
- De Heus Animal Nutrition (Netherlands)
- Royal Agrifirm Group (Netherlands)
- Guangdong HAID Group Co. Ltd. (China)
Scope of the Report:
Animal Feed Market Assessment - by Type
- Compound Feed
- Feed Concentrates
- Roughages
Animal Feed Market Assessment - by Source
- Plant-based
- Cereal and Grains
- Oilseed
- Other Plant-based Sources
- Animal-based
- Fodder & DDGS
- Novel Sources
Animal Feed Market Assessment - by Form
- Dry Feed
- Pellets
- Crumbles
- Mash
- Others
- Wet Feed
Animal Feed Market Assessment - by Animal Type
- Poultry
- Starter Feed
- Grower Feed
- Layer Feed
- Finisher Feed
- Other Poultry Feeds
- Ruminants
- Beef Cattle
- Calf Feed
- Backgrounding Feed
- Feedlot Feed
- Dairy Cattle
- Calf Feed
- Heifer Feed
- Lactating Feed
- Dry Cattle Feed
- Other Ruminants
- Swine
- Starter Feed
- Grower Feed
- Finisher Feed
- Aquaculture
- Other Animal Types
Animal Market Assessment - by Geography
- Asia-Pacific
- China
- India
- Japan
- Australia
- Rest of Asia-Pacific
- Europe
- Germany
- Spain
- France
- U.K.
- Italy
- Netherlands
- Russia
- Poland
- Rest of Europe
- North America
- U.S.
- Canada
- Latin America
- Brazil
- Mexico
- Argentina
- Rest of Latin America
- Middle East & Africa
For more information about this report visit https://www.researchandmarkets.com/r/jc155w
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