Transforming Animal Nutrition: The Role of Feed Software Market in Modern Agriculture
SkyQuest projects that the feed software market will attain a value of USD 434.72 billion by 2030, with a CAGR of 7.74% over the forecast period (2023-2030). The rising use of feed software to maximize profits over feed costs, progress reporting and data sharing and flexibility and adaptability as per changing circumstances are the main factors driving the feed software market. Furthermore, it is anticipated that during the forecast period, key players in the feed management segment will increase their investments in and development of their businesses. One of the main drivers of the market’s expansion is the livestock industry’s quick modernization, particularly in developing economies. The need for animal feed is also being stimulated globally by the rising consumption of meat products.
Westford, USA, June 13, 2023 (GLOBE NEWSWIRE) — According to SkyQuest, feed nutritionists, formulators, veterinarians and manufacturers utilize feed software to create and maintain feed compositions. It offers budget reports, charts and information on suppliers who have low prices to assist in creating a well-balanced diet. It also helps to create nutrient-dense feed by selecting and mixing components that maintain animal health and improve the quality of byproducts such as meat, milk or eggs. Feed software is growing in popularity these days because it reduces manufacturing costs, saves time and eliminates human calculation errors.
Browse in-depth TOC on “Feed Software Market”
- Pages – 242
- Tables – 117
- Figures – 77
Feed software is a tool that determines the feed products that can be combined to create a single, consistent diet that satisfies all the nutritional needs of animals. Feed Software offers a mechanism that aids in creating an optimized diet, a mix of calculated feed ingredients that meets the real nutrient requirements for animals. For farmers, feed manufacturers and nutritionists everywhere, feed formulation and feed management are two of their top priorities. The advantage of the feed software is that it makes it possible to adjust the nutritional needs and values in the feed in accordance with the animals’ ages and needs.
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Prominent Players in Feed Software Market
- Adifo NV
- Adisseo France SAS
- Agentis Innovations Ltd.
- Alltech Inc.
- Cultura Technologies LLC.
- DHI – Provo
- DHI Computing Service, Inc.
- Evonik Industries AG
- Format Solutions, Inc.
- GLOBALVETLINK, L.C.
- International Flavors & Fragrances Inc. (Danisco Animal Nutrition)
- Kemin Industries, Inc.
- Prairie Systems
- Cargill Inc
- Easy Automation Inc.
- Dalex Livestock Solutions LLC
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Poultry Segment is Anticipated to Grow Due to Rising Consumption of Poultry Meat
The poultry segment had the most significant revenue share. In the upcoming years, this industry will be driven by the rising consumption of poultry meat worldwide. For instance, the Food and Agriculture Organization of the United Nations (FAO) projects that by 2025, worldwide annual meat consumption per person will reach 35.3 kg of retail weight equivalent, up 1.3 kg from 2019. Several vitamins and minerals including vitamin B12, iron, magnesium, zinc, and many others necessary for healthy body operation, are abundant in meat and poultry. For example, iron prevents anemia, vitamin B produces red blood cells and builds tissues, and magnesium improves bone health.
North America’s massive and highly developed livestock industry and its cutting-edge technology infrastructure plays a vital role in the feed software market. Some of the world’s largest feed manufacturers, livestock producers and agri-businesses are located in the region and their need for digital solutions to streamline their operations is on the rise. Additionally, North America’s adoption of precision livestock farming technologies, including feed software solutions, has prompted the rising consciousness of sustainability and animal welfare among consumers and governing bodies.
Ruminant Segment is Dominating the Market Due to Improving the Nutrition and Health of Ruminant Animals
The ruminant segment that focuses on creating digital solutions for improving the nutrition and health of ruminant animals such as cattle, sheep and goats, is essential to the feed software market. Their intricate digestive systems necessitate exact nutrient balances for ruminants to remain healthy and productive. Formulating and managing rations, monitoring animal performance, and making data-driven decisions are all made possible by feed software explicitly created for the market. This helps farmers and feed producers increase the productivity and profitability of their businesses.
Asia-Pacific dominated the global market for feed software. China, India, Japan, and Australia are dominant regions for feed production that employ cutting-edge technology. As many feed-producing companies in China rely on technology to produce high-quality feed, China is the world’s largest market for feed software. There have been pest issues and a rise in the usage of chemical treatments. Therefore, the Chinese government has launched programmes to reduce the amount of grassland and marginal lands utilized to grow maize. Cargill is strengthening its young animal nutrition expertise by spending more than USD 15 million to install a piglet feed production line at its existing premix and nutrition facility in China.
A comprehensive analysis of the major players in the Feed Software 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.
Key Developments in Feed Software Market
- AgriWebb announced its expansion in the US in March 2022 to help ranchers make better use of their data and increase output, sustainability and productivity on-ranch. The company develops the industry by replacing handwritten notebooks. Instead, ranchers have access to real-time information to the ability to enter online and offline data into their mobile devices.
- $15.8 million was invested in all of International Flavours & Fragrances Inc. (IFF)’s research facilities in Brazil, Colombia, and Chile in 2022. The recently built facilities helps in the creation of products for a variety of industries, including animal nutrition and health.
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Key Questions Answered in Feed Software 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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