USD 39.36 billion
Animal Feed Market Size, Share, Growth Analysis, By Species(Poultry, Cattle, Swine, Aqua), By Additive(Antibiotics, Vitamins, Antioxidants, Amino Acids), By Region - Industry Forecast 2024-2031
Report ID:
SQMIG30H2033 |
Region:
Global |
Published Date: July, 2024
Pages:
255
|Tables:
99
|Figures:
76
Animal Feed Market Insights
Global Animal Feed Market size was valued at USD 551.21 billion in 2022 and is expected to rise from USD 570.5 billion in 2023 to reach a value of USD 751.24 billion by 2031, at a CAGR of 3.50% during the forecast period (2024–2031).
Animal feed is an important source of nutrients for animals. Growing awareness regarding animal health and surging demand for animal protein are forecasted to bolster the demand for animal feed over the coming years. Rapidly expanding livestock population and growing pet ownership are also expected to create new opportunities for animal feed companies going forward. Adoption of sustainable farming practices will also generate lucrative business for animal feed suppliers across the study period. Rapidly expanding global population and advancements in the field of animal nutrition are also predicted to govern the global animal feed demand outlook in the future. Asia Pacific and Europe are expected to be the most opportune markets for animal feed companies in the long run owing to presence of a huge animal population in these regions. Rising awareness regarding benefits of animal feed is also expected to boost market development going forward. On the contrary, fluctuations in raw material pricing, growing competition from plant-based animal feed, and supply chain disruptions are anticipated to impede animal feed market growth potential over the coming years.
US Animal Feed Market is poised to grow at a sustainable CAGR for the next forecast year.
Market Snapshot - 2024–2031
Global Market Size
Largest Segment
Pork/Swine
Fastest Growth
Pork/Swine
Growth Rate
3.5% CAGR
Global Animal Feed Market ($ Bn)
Country Share for Europe Region (%)
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Animal Feed Market Segmental Analysis
Global Animal Feed Market is segmented based on species, additives and region. Based on species, the market is segmented into poultry, cattle, swine, aqua, and pet. Based on additives, the market is segmented into antibiotics, vitamins, antioxidants, amino acids, feed acidifiers and others. Based on region, the global Animal Feed Market is segmented into North America, Europe, Asia-Pacific, South America, and MEA.
Analysis by Species
Poultry segment is projected to spearhead the demand for animal feed around the world. Growing demand for bird meat and eggs around the world as a potent source of protein is a major contributor to the dominance of this segment. Chicken, Turkey, and Duck are some of the most widely demanded poultry meats in the world. Balanced diet is necessary for bird to optimize their meat and egg outputs, which is why poultry farmers are more inclined to opt for animal feed.
Meanwhile, the demand for animal feed for pets is projected to surge at an impressive pace across the study period. Growing pet humanization around the world has led to an incredible increase in pet ownership around the world, which is favoring animal feed demand. Moreover, rising companion animal population is also expected to aid animal feed market growth via this segment over the coming years.
Analysis by Additives
Amino acids play a crucial role in governing the development and growth of any animal and this is why they are the most widely used additives in animal feed. Amino acids help improve the quality of meat and improve disease resistance among animals. They are also responsible for stimulating the appetite of animals to help them grow healthier and better.
On the other hand, the demand for vitamins in animal feed is projected to surge at an impressive pace in the future. Vitamins help improve the reproductive health and overall well-being of animals. Growing awareness among consumers regarding fat-soluble vitamins in animal protein is also projected to help this segment boost market growth over the coming years.
Global Animal Feed Market By Livestock (%)
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Animal Feed Market Regional Insights
The Asia Pacific accounts for the largest share of the global animal feed market. Growing meat consumption and presence of a large livestock population in this region allows it to hold a dominant stance. Growing awareness regarding animal feed consumption and evolving consumer preferences are also estimated to boost sales of animal feed in this region. Surging demand for meat, fish, eggs, and dairy products in countries such as India, Japan, and China is also expected to create new opportunities for animal feed providers in the future.
Demand for animal feed in Europe is estimated to increase at a rapid pace over the coming years. Presence of multiple dairy product providers in this region coupled with stringent mandates for animal welfare are facilitating high demand for animal feed. France, Italy, and Germany are estimated to be the most opportune markets for animal feed providers in this region. Rising meat consumption and growing pet ownership will also favor animal feed demand in this region. However, growing popularity of veganism in Europe could hamper animal feed adoption to a certain extent in the future.
Global Animal Feed Market By Geography
- Largest
- Fastest
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Animal Feed Market Dynamics
Animal Feed Market Driver
High Demand for Animal-based Products
- Demand for animal products has increased as a result of changing diets, rising incomes, and expanding populations. Animal-based proteins such as milk, eggs, and meat are continuously rising in demand around the world.
Advancements in Animal Nutrition
- Development of new types of additives that enhance animal health in multiple ways has only been possible due to advancements in animal nutrition. The use of these additives in animal feed is projected to boost market growth over the coming years.
Restraints
Fluctuations in Raw Material Pricing
- Raw materials required to make animal feed are subject to price volatility owing to multiple factors such as trade bans, changes in economic conditions, etc. These fluctuations sometimes diminish the profit margins for companies and impede market growth.
Stringent Regulations
- Animal feed is subject to several strict regulatory mandates to ensure animal safety and maintaining compliance with these regulations is a tough task for animal feed manufacturers. Increased time-to-market and slow commercialization are a result of these regulations resulting in hampered animal feed sales.
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Animal Feed Market Competitive Landscape
Animal feed manufacturers should focus on improving the nutrition in their products to offer more benefits for users. Developing animal feed with minimal synthetic ingredients will also be a key strategy for all animal feed companies. Targeting emerging economies with strong animal-based industries could help animal feed suppliers amplify their global market presence.
Animal Feed Market Top Players' Company Profiles
- BASF SE (Germany)
- Cargill, Inc. (US)
- Archer Daniels Midland Company (US)
- DuPont de Nemours, Inc. (US)
- Evonik Industries AG (Germany)
- Nutreco N.V. (Netherlands)
- DSM Nutritional Products AG (Switzerland)
- Adisseo France SAS (France)
- Land O Lakes Purina (US)
- Kemin Industries, Inc. (US)
- Ingevity Corporation (US)
- Alltech, Inc. (US)
- Biovet JSC (Russia)
- BIOMIN GmbH (Austria)
- Elanco Animal Health, Inc. (US)
- Zoetis Inc. (US)
- Balchem Corporation (US)
- Phibro Animal Health Corporation (US)
- Addcon Group GmbH (Germany)
- Chr. Hansen Holding (Denmark)
Animal Feed Market Recent Developments
- In an effort to reduce emissions from animal rearing, Sea Forest and Morrisons joined hands to develop a new seaweed-based feed for cattle in July 2024. SeaFeed is projected to help cattle farmers reduce their methane emissions.
- In April 2024, Wilbur-Ellis Nutrition and Bond Pet Foods announced their partnership to develop customized ingredients for pet food applications. The collaboration between Wilbur-Ellis Nutrition and Bond is the second strategic partnership with a global pet food industry player.
- In August 2023, three new cattle feed supplements were launched by Gramik, an e-commerce-based provider of agricultural products. The new launched intended to provide high-quality feed supplements to Indian farmers at an affordable price point.
Animal Feed Key Market Trends
- Demand for Organic Feed: The organic trend has also reached animals and the demand for organic and non-GMO ingredients in animal feed is surging rapidly. Market players can target this trend to make their business relevant in the future and bolster revenue generation for the long term.
Animal Feed Market SkyQuest Analysis
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Correlates, and Analyses the Data collected by means of Primary Exploratory Research backed by robust Secondary Desk research.
As per SkyQuest analysis, rising emphasis on animal health improvement and growing pet ownership are contributing to the high demand for animal feed around the world. However, fluctuations in raw material pricing and stringent animal safety mandates are estimated to slow down sales of animal feed in the long run. Asia Pacific region spearheads the demand for animal feed on a global level owing to rising meat consumption and presence of a massive population base. Development of organic and non-GMO animal feeds is slated to be a key area of interest for all animal feed companies going forward.
| Report Metric | Details |
|---|---|
| Market size value in 2022 | USD 551.21 billion |
| Market size value in 2031 | USD 751.24 billion |
| Growth Rate | 3.50% |
| Base year | 2023 |
| Forecast period | 2024–2031 |
| Forecast Unit (Value) | USD Billion |
| Segments covered |
|
| Regions covered | North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA) |
| Companies covered |
|
| Customization scope | Free report customization with purchase. Customization includes:-
|
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Table Of Content
Executive Summary
Market overview
- Exhibit: Executive Summary – Chart on Market Overview
- Exhibit: Executive Summary – Data Table on Market Overview
- Exhibit: Executive Summary – Chart on Animal Feed Market Characteristics
- Exhibit: Executive Summary – Chart on Market by Geography
- Exhibit: Executive Summary – Chart on Market Segmentation
- Exhibit: Executive Summary – Chart on Incremental Growth
- Exhibit: Executive Summary – Data Table on Incremental Growth
- Exhibit: Executive Summary – Chart on Vendor Market Positioning
Parent Market Analysis
Market overview
Market size
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- SWOT Analysis
KEY MARKET INSIGHTS
- Technology Analysis
- (Exhibit: Data Table: Name of technology and details)
- Pricing Analysis
- (Exhibit: Data Table: Name of technology and pricing details)
- Supply Chain Analysis
- (Exhibit: Detailed Supply Chain Presentation)
- Value Chain Analysis
- (Exhibit: Detailed Value Chain Presentation)
- Ecosystem Of the Market
- Exhibit: Parent Market Ecosystem Market Analysis
- Exhibit: Market Characteristics of Parent Market
- IP Analysis
- (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
- Trade Analysis
- (Exhibit: Data Table: Import and Export data details)
- Startup Analysis
- (Exhibit: Data Table: Emerging startups details)
- Raw Material Analysis
- (Exhibit: Data Table: Mapping of key raw materials)
- Innovation Matrix
- (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
- Pipeline product Analysis
- (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
- Macroeconomic Indicators
COVID IMPACT
- Introduction
- Impact On Economy—scenario Assessment
- Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
- Revised Market Size
- Exhibit: Data Table on Animal Feed Market size and forecast 2021-2027 ($ million)
- Impact Of COVID On Key Segments
- Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
- COVID Strategies By Company
- Exhibit: Analysis on key strategies adopted by companies
MARKET DYNAMICS & OUTLOOK
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- Regulatory Landscape
- Exhibit: Data Table on regulation from different region
- SWOT Analysis
- Porters Analysis
- Competitive rivalry
- Exhibit: Competitive rivalry Impact of key factors, 2021
- Threat of substitute products
- Exhibit: Threat of Substitute Products Impact of key factors, 2021
- Bargaining power of buyers
- Exhibit: buyers bargaining power Impact of key factors, 2021
- Threat of new entrants
- Exhibit: Threat of new entrants Impact of key factors, 2021
- Bargaining power of suppliers
- Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
- Competitive rivalry
- Skyquest special insights on future disruptions
- Political Impact
- Economic impact
- Social Impact
- Technical Impact
- Environmental Impact
- Legal Impact
Market Size by Region
- Chart on Market share by geography 2021-2027 (%)
- Data Table on Market share by geography 2021-2027(%)
- North America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- USA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Canada
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Europe
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Germany
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Spain
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- France
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- UK
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Europe
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Asia Pacific
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- China
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- India
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Japan
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Korea
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Asia Pacific
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Latin America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Brazil
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of South America
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Middle East & Africa (MEA)
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- GCC Countries
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Africa
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of MEA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
KEY COMPANY PROFILES
- Competitive Landscape
- Total number of companies covered
- Exhibit: companies covered in the report, 2021
- Top companies market positioning
- Exhibit: company positioning matrix, 2021
- Top companies market Share
- Exhibit: Pie chart analysis on company market share, 2021(%)
- Total number of companies covered
Methodology
For the Animal Feed Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Animal Feed Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
Analyst Support
Customization Options
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Animal Feed Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the Animal Feed Market for additional countries.
Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.
Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.
Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.
Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.
Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.
Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.
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