The global animal feed market size is anticipated to reach $337.7 billion by 2026, growing at a CAGR of 4.7% during the forecast period, according to a report published by Polaris Market Research. The report ‘Animal Feed Market Size By Product Type (Compound Feed, Fodder, Forage), By Animal Type (Livestock (Poultry, Cattle, Pigs, Aquaculture, Others) Pet Animals), By Regions & Segments Forecast, 2018 – 2026’ provides an extensive analysis of present market dynamics and predicted future trends.
Animal feeds have contributed significantly in the growth of food industry globally and feed are among the most crucial and essential component for retaining abundant, affordable and safe animal proteins. For over a decade, the world has witnessed rising demand for proteins derived from animal, including fish, livestock, and dairy. The growth has been witnessed mainly in the developing regions as reported by IFIF, wherein the developed regions have witnessed fluctuating stabilities in growth. The global feed industry has witnessed production expansion in terms of volume and value. This phenomenon has taken place concerning growing worldwide population, more consumer purchasing power, and rising urbanization.
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With modern population achieving new levels of political and commercial involvements, there is an anticipated enhancement in the demand for animal feed further which is crucially significant in the entire food chain for its role. As the producer’s perseverance becomes more consumer-oriented and focused, the outcomes include increasing environmental footprint with even more rapidly growing requirements for sustainability. Mill and farm feed have witnessed a push on account of increasing environmental impact and greenhouse gases concerning the production of animals.
Some of the significant market participants currently operating in the industry include DaChan Food (Asia) Ltd., Yuetai Group, Smithfield Foods, NongHyup Feed Inc., Tangrenshen Group (TRS), East Hope Group, Nutreco, De Heus, Haid Group, Shuangbaotai Group (Twins Group), Agrifirm Group, JA Zen-Noh, Purina Animal Nutrition, ForFarmers N.V., Tyson Foods (broiler), New Hope Liuhe, BRF, Wen’s Food Group, Cargill, and CP Group.
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The selectivity priority by consumers in the purchase of eggs, meat, and dairy products, have been coupled with the questions of particular animal feeds and the breeding conditions related to each. Feed mills are also considered to be most crucial to the value chain as a human diet id directly influenced by these which have also gained an enthusiastic consumer culture. Feed is considered to be very essential as these might contain adulterated components which can be a serious issue for the food safety. Thus, the global feed market has shown interest in extensive production of organically developed high quality animal feed due to changing consumer behaviour related to the quality of output such as milk or meat. These parameters have been continuously playing important role in the advancement of the global feed industry.
The report provides an extensive qualitative and quantitative analysis of the market trends and growth prospects of the global animal feed industry, 2017-2026. This report comprises a detailed geographic distribution of the market across North America, Europe, APAC and South America, and MEA. North America is further segmented into U.S., Canada. Europe is divided into Germany, UK, Italy, and Rest of Europe. Asia-Pacific is bifurcated into China, India, Japan, and Rest of Asia-Pacific.
Competitive Landscape and Key Vendors
The Asia Pacific is the largest regional market for the animal feed market. The increase in rapid production by meat processors and changing consumer demand & behaviour for organic food products are identified to be among some of the crucial parameters for the growth of feed market in the region. This regional market is expected to witness considerable growth over the forecast period.
Multiple new product innovation, unpenetrated & under-penetrated market dynamics, several expansion strategies among the feed producers, surging demand for nutrient-rich & healthy feed, and growing purchasing power, are the most important factors driving the Asia Pacific market. Europe is likely to be another potential regional player for feed production over the forecast period.
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