Animal Feed Market to Surpass 53.7 Billion by 2030 Drives Due to the Rising Demand for Animal Protein
SkyQuest projects that the animal feed market will attain a USD 53.7 billion value by 2030, with a CAGR of 3.5% over the forecast period (2023-2030). The increasing popularity of high-protein diets among consumers worldwide fuels the demand for animal protein. As a result, the importance of feed in animal husbandry is expected to rise significantly in the coming years.
Westford,USA, June 23, 2023 (GLOBE NEWSWIRE) — According to SkyQuest, the animal feed market is experiencing significant growth, primarily fueled by the booming dairy industry and supported by the White Revolution 2.0. This initiative has led to a remarkable increase in the cattle population, making India the largest market for cattle feed globally. The dairy sector in India has witnessed a transformation, with improved organization and structure. As a result, there is a growing demand for commercial cattle feed to meet the nutritional requirements of the expanding dairy industry.
Browse in-depth TOC on “Animal Feed Market.”
- Pages – 255
- Tables – 99
- Figures – 76
Animal feed plays a vital role in global food production by enabling efficient and economical production of animal products. It is a crucial source of animal nutrition, supporting their immune system, promoting growth, and maintaining good health. Animal feed is essential in meeting the nutritional requirements of various livestock species, including cattle, poultry, swine, and fish. It provides a balanced mix of proteins, carbohydrates, fats, vitamins, and minerals for optimal animal development and productivity.
Prominent Players in Animal Feed Market
- Cargill Inc.
- Archer Daniels Midland Company
- Nutreco N.V.
- Alltech Inc.
- Land O’Lakes Inc.
- Purina Animal Nutrition LLC
- Charoen Pokphand Foods Public Company Limited
- New Hope Group Co. Ltd.
- ForFarmers N.V.
- Guangdong Haid Group Co. Ltd.
- Biomin Holding GmbH
- Kyodo Shiryo Company Limited
- DeKalb Feeds Inc.
- J.D. Heiskell & Co.
- Wen’s Food Group Co. Ltd.
- Tyson Foods Inc.
- East Hope Group Company Limited
- Ridley Corporation Limited
- Provimi Holding B.V.
- ADM Alliance Nutrition, Inc.
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Pellets Segment is Expected to Grow the Market Due to the Rising Demand of Livestock Farmers
Pellets segment is expected to grow due to their numerous benefits for farm animals. Pelleted feed is highly digestible, making it easier for animals to extract nutrients. Pellets’ compact and uniform nature also allows for convenient transportation and storage, reducing the risk of spoilage or contamination. As a result, many feed manufacturers prioritize the production of pellet feed to meet the demand of livestock farmers.
The market in the United States, demonstrates a substantial demand for cattle and poultry, positioning it as the largest market in North America. According to data from the North America Meat Institute (NAMI), American meat producers produced an impressive 42.2 billion chickens, 25.6 billion pounds of pork, and 26.3 billion pounds of beef.
Ruminant Segment is Expected to Dominate the Market Due to their Unique Digestive System
The ruminant segment plays a vital role in the animal feed market. Ruminant animals such as cattle, sheep, and goats have specific dietary requirements due to their unique digestive system. They rely on a fermentation process in their multi-compartment stomach, which allows them to digest and extract nutrients from fibrous plant materials efficiently. As a result, the ruminant segment requires specialized feed formulations rich in fiber, protein, energy, and essential nutrients.
In Europe, regional markets have substantial demand for plant-based feed among cattle owners. Most crops cultivated in Europe are utilized for animal feed purposes, highlighting the importance of the livestock industry in the region. However, the European market faces the challenge of overproduction in the meat and dairy sector. According to statistics, EU chicken, pig, and beef production exceeds consumption by 8%, 16%, and 4%, respectively.
A comprehensive analysis of the major players in the animal feed market has been recently conducted in a report. The report encompasses various aspects, including collaborations, mergers, innovative business policies, and strategies, providing valuable insights into key trends and breakthroughs in the market. Furthermore, the report scrutinizes the market share of the top segments and presents a detailed geographic analysis. Lastly, the report highlights the major players in the industry and their endeavours to develop innovative solutions to cater to the growing demand.
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A comprehensive analysis of the major players in the animal feedmarket has been recently conducted in a report. The report encompasses various aspects, including collaborations, mergers, innovative business policies, and strategies, providing valuable insights into key trends and breakthroughs in the market. Furthermore, the report scrutinizes the market share of the top segments and presents a detailed geographic analysis. Lastly, the report highlights the major players in the industry and their endeavours to develop innovative solutions to cater to the growing demand.
Key Developments in the Animal Feed Market
- Nutrimin, a leading Danish manufacturer of farm minerals, concentrates, and piglet feed, was recently acquired by Nutreco NV, a Netherlands-based company. With this acquisition, Nutrimin became a part of Nutreco’s animal division, Trouw Nutrition. The strategic move allows Trouw Nutrition to expand its presence on Danish farms in Eastern Europe and Russia, leveraging Nutrimin’s expertise and product offerings.
- Recently, De Heus Animal Nutrition, a renowned feed company based in the Netherlands, signed an agreement to acquire the production facility of Golpasz, a Polish feed company. This acquisition further strengthens De Heus Animal Nutrition’s presence in Poland and enhances its ability to serve the growing demand for high-quality animal feed in the region.
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Key Questions Answered in Animal Feed Market Report
- What specific growth drivers are projected to impact the market during the forecast period?
- List the top companies in the market and explain how they have achieved their positions of influence.
- In what ways do regional trends and patterns differ within the global market, and how these differences shape the market’s future growth?
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