Global Animal Feed Market
Animal feed is nutritional food given to domestic animals to increase the overall productivity and provide them with a balanced diet. There are different types of animal feed such as mixed animal feeds, alternative protein food, hay, plants, husks and others, depending on the livestock. Animal feed plays an important part in the food chain and has implications for the composition and quality of the livestock products (milk, meat and eggs) that people consume. Animal feed can be divided into four groups – forages (e.g. grasses), cereals and other home-grown crops; compound feedingstuffs and products and by-products of the human food and brewing industries. The diets of pigs and poultry are different from ruminants. Compound (mixed or manufactured) feeds are supplemented in livestock diets. Vitamins and minerals are provided by separately or by incorporating in the compound feed.
Rise in consumption of meat, poultry and dairy products, growing concern over an outbreak of animal diseases, growing domestic and international quick-service restaurants in developing countries and demand for high-quality meat products are expected to bolster the animal feed market. Furthermore, rising inclination towards high-protein diets has positively influenced livestock production is the few factors that are driving animal feed market. However, lack of awareness and cost of products may hinder the Animal Feed Market growth.
Scope of Global Animal Feed Market
The Global Animal Feed Market is segmented on the basis of a type of livestock, types of feed and geographical regions.
Based on the type of animal, the Global Animal Feed Market is segmented:
Based on the type of feed, the Global Veterinary Animal Feed Market is segmented:
- Medicated feed
- Non-medicated feed
The feed industry is a major economic component of many countries. According to the AFIA (American Feed Industry Association), an average of $20 billion is annually spent on feed ingredients. The feed industry is the largest purchaser of corn and soybean meal. To enhance the overall production efficiency the feed is added to poultry, swine, cattle and others. Animal feed market is anticipated to have high growth owing to surge in awareness, growth strategies adopted by the key players such as acquisitions, mergers investments and expansions, which enables enhance the product portfolio and reaching out to new markets. For instance, in 2017 Nutreco acquired Hi-Pro feeds, which is a North American Animal Feed Market manufacturer.
The Animal Feed Market is segmented into North America, Europe, Asia-Pacific, Latin America, and the Middle East & Africa. China is the major meat exporter and producer having strong economic outlook and rapid urbanization. High consumption of protein-rich diet like meat, milk, and eggs expected to accelerate the market share over the foresee period. U.S. animal feed market is anticipated expand at significant growth rate due to rising consumption of organic meat over processed products. Emerging economies market is expected to a huge traction due to rise in per capita expenditure coupled with a high population in India, China.
Evonik Industries AG (Germany), Novozymes (Denmark), DSM (Netherlands), Dupont (Danisco) (U.S), Nutreco, BASF SE (Germany), Archer Daniels Midlands (U.S), Charoen Pokphand (Thailand), Alltech Incorporated (U.S), Invivo NSA (France), Cargill Incorporated (U.S) are some of the players in the animal feed market .
- In March 2017, Novozymes and Boehringer Ingelheim Animal Health came into a strategic collaboration for the development and commercialization of probiotics for poultry production.
- In June 6, 2017, DuPont Industrial Biosciences (DuPont) launched DuPont Syncra SWI, an adaptive feed additive that powers the diet through improving energy and amino acid digestibility of pigs to improve growth of pigs.
Key Features of Animal Feed Market Report:
- The report provides granular level information about the Veterinary Feed Market market size, regional market share, and forecast from 2018-2024
- The Veterinary Feed Market report covers in-detail insights about the competitor’s overview, key findings, and their key strategies
- The Veterinary Feed Market report outlines drivers, restraints, challenges, and trends that are currently faced by the industry
- The Veterinary Feed Market report tracks recent innovations, key developments, and startup’s details that are working in the industry
- The Veterinary Feed Market report provides plethora of information about market entry strategies, regulatory framework, and reimbursement scenario