Animal Feed Market: Global Market Estimation, Dynamics, Regional Share, Trends, Competitor Analysis 2012-2016 and Forecast 2017-2023
Animal Feed Market:Animal feed is nutritional food given to domestic animals to increase the overall productivity and provide them 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 feeding stuffs and products and by-products of the human food and brewing industries. The diets of pigs and poultry is 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 on 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.
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The global animal feed market is segmented on the basis of 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 animal feed market is segmented:
- Medicated feed
- Non-medicated feed
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The feed industry is a major economical 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 manufacturer.
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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 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 .
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