What is the global market size of Animal Feed Market?

Animal Feed Market size was valued at USD 39.36 billion in 2021 and is poised to grow from USD 40.74 billion in 2022 to USD 53.7 billion by 2030, growing at a CAGR of 3.5% in the forecast period (2023-2030).

Who are the key vendors in the Global Animal Feed Market?

Companies are obtaining FDA approval for the use of stem cells to treat a range of illnesses and infections. For instance, the FDA authorized Stemedica Cell Technologies, Inc. in September 2020. Phase II trials using intravenously administered allogeneic MSCs in patients with covid-19 are permitted as an investigational new drug. Ischemic-tolerant MSCs exhibit a number of properties that make them a desirable candidate for biological therapy for COVID-19, including immunomodulatory effects, restricted immunogenicity, and the capacity to suppress excessive pro-inflammatory responses. '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.'

What is the key driver of Global Animal Feed Market?

Large-scale animal farming aids in supplying the major opportunity for livestock-derived products. Farm animals perform a significant economic and social function in addition to contributing to food production. Worldwide, a large number of small-scale farmers still rely on cattle for their livelihoods. The livestock industry supports the livelihoods of 1.3 billion people worldwide, according to the Food and Agricultural Organization (FAO), accounting for close to 40% of global agricultural output in rich countries and 20% in developing countries. Additionally, 34% of the world's supply of food protein comes from the animal industry.

What is the key market trend for Global Animal Feed Market?

Consumers are very concerned about the feed supply chain since the effects of various feed ingredients can range greatly depending on where they come from and how they are manufactured. Additionally, the environmental impact of the cattle business is becoming a significant problem, thus legislators and retailers are focusing on this industry. As a result, farmers and feed manufacturers work to keep feed prices as low as possible while lowering the environmental impact of both the feed and the finished protein. For instance, BASF and Adifo Software partnered to introduce Opteinics, a new digital solution, in December 2020. (with BESTMIX feed formulation software). This innovative approach would facilitate more sustainable animal protein production while assisting BASF in feed formulation optimization.

Which region accounted for the largest share in Global Animal Feed Market?

The Asia Pacific accounted for the largest animal feed market share and is expected to remain the leading consumer of animal feed in the coming years. The dominance of the region is a result of high levels of animal production and high levels of meat consumption brought on by high incomes. The top three feed users in the area are China, India, and Indonesia. The demand for meat, fish and dairy products is high due to the economy's rapid growth, and this has caused these goods' consumption to increase quickly. The local meat and dairy industries are expanding to keep up with the high growth rate in consumption, which causes feed consumption to rise very quickly.

Animal Feed Market Size, Share, Growth Analysis, By Species (Poultry, Cattle, Swine, Aqua, Pet), By Additives (Antibiotics, Vitamins, Antioxidants), 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.

Animal Feed Market Report Snapshots

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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. '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)'

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.

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.

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.

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Animal Feed Market Size, Share, Growth Analysis, By Species (Poultry, Cattle, Swine, Aqua, Pet), By Additives (Antibiotics, Vitamins, Antioxidants), By Region Industry Forecast 2024-2031

Animal Feed Market Insights

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What is the global market size of Animal Feed Market?

Who are the key vendors in the Animal Feed Market?

What is the key driver of Animal Feed Market?

What is the key market trend for Animal Feed Market?

Which region accounted for the largest share in Animal Feed Market?

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