Yahoo Finance Animal Feed Market to Expand by USD 134.4 Billion (2024-2028) with Increased Investments and Production Growth, AI-Driven Insights- Technavio
NEW YORK, Sept. 9, 2024 /PRNewswire/ -- Report on how AI is driving market transformation- The global animal feed market size is estimated to grow by USD 134.4 billion from 2024-2028, according to Technavio. The market is estimated to grow at a CAGR of over 4.75% during the forecast period. Increasing investments and expansion of production capabilities is driving market growth, with a trend towards rise in global meat consumption. However, high price of non-gmo animal feed poses a challenge. Key market players include Adisseo Co., Alltech Inc., Archer Daniels Midland Co., Associated British Foods Plc, BASF SE, Biochem additives and product mbH, BRF, Cargill Inc., Charoen Pokphand Foods PCL, Chr Hansen Holding AS, Corbion nv, Evonik Industries AG, International Flavors and Fragrances Inc., Jefo, Kemin Industries Inc., Kent Nutrition Group Inc., Land O Lakes Inc., New Hope Group Co. Ltd., Trouw Nutrition, and Tyson Foods Inc..
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Animal Feed Market Scope | |
Report Coverage | Details |
Base year | 2023 |
Historic period | 2018 - 2022 |
Forecast period | 2024-2028 |
Growth momentum & CAGR | Accelerate at a CAGR of 4.75% |
Market growth 2024-2028 | USD 134.4 billion |
Market structure | Fragmented |
YoY growth 2022-2023 (%) | 4.45 |
Regional analysis | APAC, Europe, North America, South America, and Middle East and Africa |
Performing market contribution | APAC at 49% |
Key countries | China, US, Brazil, Russia, and Spain |
Key companies profiled | Adisseo Co., Alltech Inc., Archer Daniels Midland Co., Associated British Foods Plc, BASF SE, Biochem additives and product mbH, BRF, Cargill Inc., Charoen Pokphand Foods PCL, Chr Hansen Holding AS, Corbion nv, Evonik Industries AG, International Flavors and Fragrances Inc., Jefo, Kemin Industries Inc., Kent Nutrition Group Inc., Land O Lakes Inc., New Hope Group Co. Ltd., Trouw Nutrition, and Tyson Foods Inc. |
Market Driver
The global animal feed market is experiencing significant growth due to the increasing consumption of meat. Meat production, particularly in the poultry segment, has seen a substantial rise, growing by approximately 16% between 2010 and 2020. This trend is driven by the steady increase in global meat consumption, which reached 340 million tons in 2021, up from nearly 248 million tons in 2018. The population growth and the growing awareness of protein intake in daily diets are major factors contributing to this rise. The majority of the increase in meat production and consumption is from Asia-Pacific and the Middle East and Africa regions, where healthy economic growth has expanded production capacity and supply. As a result, the animal feed market is expected to continue growing in the forecast period, fueled by the ongoing demand for meat and meat products as a source of essential nutrients.
The animal feed market is experiencing significant growth, particularly in the poultry segment, driven by rising global meat consumption. Market research reports indicate a competitive landscape with key players focusing on animal nutrition and feed additives to enhance animals' performance and productivity. Feed materials like premixes, vitamins, and minerals are essential for optimal digestibility and meat production. Feed additives, including antioxidants and trace minerals, improve feed quality and animal health. Solid feed additives, such as phytase and enzymes, are gaining popularity due to their ability to increase nutrient availability. The market facets of animal feed include poultry, swine, cattle, and aquaculture, with each segment having unique requirements. Meat production is a significant factor influencing the market, with stringent regulations ensuring food safety and animal welfare. Molecular biology is also playing a role in developing new feed technologies. Animal disease prevention and control are critical areas of focus to maintain feed manufacturing efficiency and reduce losses. Overall, the animal feed market is dynamic, with continuous innovation and improvement to meet the evolving needs of the livestock industry.
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Market Challenges
The global animal feed market faces a challenge due to the higher cost of non-GMO animal feed compared to GMO feed. Non-GMO feed commands a premium price, offering increased profits for vendors and farmers. Consumers' preference for non-GMO products as a healthier alternative drives demand, with profit margins reaching up to 50%. However, this trend poses a barrier for market growth as vendors capitalize on this consumer segment. Perceptions of harm to human health and the environment from GM crops and animal-derived produce have led some European countries like Germany and Italy to switch to non-GMO feed for meat, egg, and dairy production. The EU market for non-GMO animal feed, particularly soya, is thriving, with imports from countries like Brazil. Despite the benefits, the high cost of non-GMO feed may limit its adoption among livestock farmers who rely on GMO feed due to affordability and ease of access.
The Animal Feed Market faces several challenges in various segments, including poultry, swine, cattle, aquaculture, and others. Ensuring high animal productivity through optimal nutrition is crucial. Animal feed vitamins, antioxidants, trace minerals, and sustainable protein sources like soy are essential for livestock nutrition. Strict regulations regarding animal welfare, feed quality, and sustainable practices impact feed manufacturing. Market advancement relies on meeting the increasing demand for nutritious feed and better health for farm animals. The poultry segment, driven by growing meat consumption and changing diet patterns, is a lucrative growth area. Slaughterhouses and meat production are significant consumers of animal feed. Growth drivers include disposable income, increasing demand for animal-based protein diet, and the need for sustainable protein sources. Animal diseases pose challenges, requiring continuous research and development of animal additives. Vendor analysis and market scenario summarization are essential for understanding the competitive landscape. In summary, the Animal Feed Market is driven by global meat production trends, especially in developing regions, and the need for nutritious feed for various farm animals.
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Segment Overview
This animal feed market report extensively covers market segmentation by
Type
1.1 Poultry
1.2 Swine
1.3 Ruminant
1.4 Aquaculture
1.5 Others
Product
2.1 Pellets
2.2 Mash
2.3 Crumbles
Geography
3.1 APAC
3.2 Europe
3.3 North America
3.4 South America
3.5 Middle East and Africa
1.1 Poultry- The global animal feed market is anticipated to grow significantly due to the increasing consumption of poultry meat. With poultry being a preferred choice of meat worldwide, owing to its religious neutrality and health benefits, the demand for poultry feed products is on the rise. To cater to this growing demand, market vendors are expanding poultry production and launching new poultry feed offerings. Key emerging markets, such as China, Brazil, and India, with large populations, are significant contributors to the poultry meat market. The poultry segment is expected to drive the growth of the animal feed market during the forecast period, as the demand for eggs and poultry meat continues to increase.
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Research Analysis
The Animal Feed Market is a significant sector in the agriculture industry, focusing on producing nutritious feed for various livestock, including poultry, swine, and cattle. The poultry segment holds a substantial share due to increasing meat consumption and global meat production. Animal feed vitamins play a crucial role in enhancing animal productivity and ensuring better health. Antioxidants and solid feed additives are essential components, improving feed quality and reducing the risk of animal disease. The market's lucrative growth is driven by the demand for nutritious feed, ensuring optimal livestock diet, and the need for food safety. Slaughterhouses are major consumers, making animal feed a vital link in the meat production chain. Molecular biology and advanced technologies are revolutionizing animal nutrition, leading to improved animals' performance. The Animal Feed Market's market facets include feed additives, livestock nutrition, and meat consumption trends.
Market Research Overview
The Animal Feed Market is a significant sector in the agriculture industry, focusing on producing nutritious feed for various farm animals, including poultry, swine, cattle, and aquaculture. Animal productivity is a key consideration in livestock nutrition, with animal feed vitamins, antioxidants, trace minerals, and feed additives playing crucial roles in enhancing animal health and performance. The poultry segment, particularly poultry feed, dominates the market due to high poultry meat consumption and the growing demand for sustainable protein sources. Feed manufacturing involves the production of compound feed using feed ingredients like soy, corn, and grains. Stringent regulations and animal welfare concerns drive the need for feed quality and food safety. The market advancement is influenced by factors like meat consumption, global meat production, developing regions, disposable income, changing diet patterns, and animal diseases. Market research reports provide valuable insights into the competitive landscape, growth drivers, and market facets, including animal feed premixes, chicken meat, and feed additives. Molecular biology is also being explored to improve animal nutrition and animal-based protein diet.
Table of Contents:
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation
Type
Product
Geography
7 Customer Landscape
8 Geographic Landscape
9 Drivers, Challenges, and Trends
10 Company Landscape
11 Company Analysis
12 Appendix
About Technavio
Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.
With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.
Contacts
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Email: media@technavio.com
Website: www.technavio.com/
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SOURCE Technavio
