Compound Feed Market size was valued at USD 490.13 billion in 2022, growing at a CAGR of 4.3% from 2023 to 2029. The global market provides a detailed overview and that can be segmented by animal type and by product type. By animal type, the market has been segmented into Swine, Poultry, Ovine, Bovine, Equine, Canine, and Aquaculture. The swine segment is likely to be the largest and fastest-growing segment in terms of animal type in 2021 and is expected to maintain the growth in the upcoming years according to precession business insights. Compound Feed is a blend of different feed ingredients in a reasonable extent. Regularly utilized fixings in compound dairy cattle feed incorporate grains, wheat, protein dinners/cakes, chutneys, agro-industrial by-products, minerals and vitamins. Development and improvements of new technologies in formulations of finished products based on the feed type and changes in regulatory scenario are boosting the growth of the industry. Many companies are targeting the Asia-Pacific region for expansion of the market, by investing in the new production units or acquisition of small players in the region who were established. R&D investments, the introduction of new products, are the different strategies adopted by the manufacturers to be in the competition in the Compound Feed Market.
Fastest Growing Market
Increase in adoption of pets, rise in care and concern of the animals health is the major factor for the rise in demand for healthy and safe feeds for the animals, which in turns drive the global compound feed market over the forecast years. Shifting towards the protein lean animal diet, rise in the consumption of the meat, poultry and dairy products around the world is anticipated to fuel the growth of the compound feed . On the other side, rise in the cost of the feeds and the supplements used to combine with them and lack of awareness in some regions of the world about the animal health are hindering the growth of the Global compound feed market.
The compound feed market size was valued at USD 490.13 million in 2022
The compound feed market key players are: Adisseo France S.A.S (France) Archer Daniels Midland Co. (US) Bactolac Pharmaceutical, Inc. (US) BASF SE (Germany) DSM Nutritional Products Ltd. (Switzerland) Pfizer, Inc. (US))
The compound feed market has been classified into North America, Asia Pacific, Europe, Latin America, Middle East and Africa, and the rest of MEA.