USD 534.52 billion
Report ID:
SQMIG30I2254 |
Region:
Global |
Published Date: March, 2024
Pages:
198
|Tables:
62
|Figures:
75
Global Compound Feed Market size was valued at USD 534.52 billion in 2022 and is poised to grow from USD 559.64 billion in 2023 to USD 808.14 billion by 2031, growing at a CAGR of 4.7% in the forecast period (2024–2031).
The global compound feed market is a thriving and dynamic industry that plays a crucial role in supporting the agricultural sector and meeting the ever-growing demand for animal protein products. This market has witnessed significant growth in recent years, driven by factors such as the increasing global population and its rising demand for animal protein, urbanization, and the adoption of Western dietary habits in emerging economies. Technological advancements have also contributed to market expansion, with feed production processes becoming more efficient and the use of innovative ingredients and additives improving overall feed quality and animal performance. However, the industry faces challenges such as volatile raw material prices and stringent regulations related to feed safety and traceability. To address these challenges and meet the diverse nutritional requirements of different animal species, compound feed manufacturers are focusing on developing customized and specialized feeds while exploring alternative protein sources and implementing sustainable production practices. Despite the challenges, the market remains competitive through innovation, strategic partnerships, and continuous research and development efforts. Ultimately, the industry plays a vital role in meeting the global demand for high-quality animal protein and contributes to the growth of the agricultural sector.
Global Market Size
USD 534.52 billion
Largest Segment
Solid
Fastest Growth
Liquid
Growth Rate
4.7% CAGR
To get more reports on the above market click here to Buy The Report
Global Compound Feed Market is segmented by form, animal type, and region. Based on form, the market is segmented into Solid and liquid. Based on animal type, the market can be segmented Cattle, swine, poultry, aquaculture and others. Based on region, the market is segmented into North America, Europe, Asia Pacific, Middle East and Africa, and Latin America.
Analysis by Form
In the global compound feed market, solid feed holds the dominant position due to its widespread usage, convenience in handling, and suitability for various animal species. Solid feed, available in the form of pellets, crumbles, or mash, ensures efficient nutrient uptake, promotes animal health, and facilitates the inclusion of additives and supplements to meet specific nutritional requirements.
The fastest-growing segment in the compound feed market is liquid feed. Liquid feed, formulated as a blend of molasses, protein sources, oils, minerals, and vitamins, offers advantages such as enhanced nutrient utilization, improved feed efficiency, and increased animal performance. It provides flexibility in feeding systems, aids in optimizing feed conversion rates, and addresses challenges related to palatability and digestibility, particularly in intensive livestock production systems. The adoption of liquid feed is rapidly increasing due to its benefits in reducing feed costs and supporting overall animal health and productivity.
Analysis by Animal Type
Poultry feed dominated the global compound feed market. With the increasing worldwide demand for poultry meat and eggs, poultry feed holds a significant share. It provides the necessary nutrients, vitamins, and minerals for optimal growth, egg production, and overall health of broilers, layers, and turkeys. The dominance of poultry feed is driven by factors such as population growth, changing dietary preferences, and affordability.
The fastest-growing segment in the compound feed market based on animal type is aquaculture feed. As the aquaculture industry expands to meet the rising demand for seafood, the need for high-quality compound feed for farmed fish and shellfish has increased. Aquaculture feed plays a crucial role in promoting growth, reproduction, and overall health in aquatic species. Factors such as increased seafood consumption, declining wild fish stocks, and advancements in aquaculture practices are driving the rapid growth of the aquaculture feed segment.
To get detailed analysis on other segments, Request For Free Sample Report
Asia Pacific dominated the global compound feed market. Asia Pacific holds a significant share due to its large population, growing middle-class, and increasing meat consumption. The region has a strong presence of emerging economies such as China and India, which have witnessed substantial growth in the livestock and poultry industries. Rapid urbanization, rising disposable incomes, and dietary shifts towards animal protein have fueled the demand for compound feed in the region. Additionally, the presence of a vast agricultural sector, favorable government initiatives, and technological advancements in feed production contribute to the dominance of Asia Pacific in the compound feed market.
The fastest-growing region in the compound feed market is North America. North America is experiencing significant growth due to multiple factors. The region has a well-developed livestock industry, with a high demand for quality animal protein products. Factors such as increasing consumer awareness of animal welfare, focus on sustainable livestock production, and advancements in feed technologies are driving the growth of the compound feed market in North America. Additionally, the adoption of precision livestock farming practices and a shift towards specialized feed formulations are further boosting the market growth in the region. The presence of key players in the compound feed industry, research and development activities, and supportive government regulations also contribute to the rapid growth of the market in North America.
To know more about the market opportunities by region and country, click here to
Buy The Complete Report
Drivers
Increasing global population and its rising demand for animal protein
Restraints
Volatility of raw material prices
Request Free Customization of this report to help us to meet your business objectives.
The competitive landscape of the global compound feed market is characterized by intense competition among key players striving to expand their market share. The market is highly fragmented, with numerous regional and international players operating across different segments and geographies. These players focus on strategic initiatives such as product innovation, mergers and acquisitions, partnerships, and collaborations to gain a competitive edge. Additionally, there is a strong emphasis on research and development activities to develop customized and specialized feeds that cater to the specific nutritional requirements of different animal species. The market's competitive dynamics are further influenced by factors such as stringent regulations related to feed safety and traceability, evolving consumer preferences for sustainable and ethically produced animal products, and the adoption of advanced technologies in feed manufacturing processes.
Top Player’s Company Profiles
Recent Developments
In February 2024, Hungarian company UBM Group plans to invest in the construction of a feed mill in Kazakhstan. The capacity of the new enterprise will be at least 20 thousand tons of feed per year.
In November 2023, feed products supplier De Heus Animal Nutrition started construction this month on a new compound animal feed plant in an industrial zone of Attinguié, Côte d’Ivoire. A company release announcing the project said the facility will open with an intial capacity of 100,000 mt/yr.
In October 2023, De Heus, a global animal feed company from the Netherlands, announced that it will set up a ₹142-crore plant in Rajpura, Punjab, to produce quality animal feed and bring best farm practices to farmers to increase their earnings. This is the first major investment by a Dutch company in Punjab.
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Co-relates, and Analyses the Data collected by means of Primary Exploratory Research backed by robust Secondary Desk research.
According to our global compound feed market analysis, the market is witnessing significant growth driven by factors such as increasing global population, rising demand for animal protein, and the expansion of the livestock and poultry industries. The market is dominated by Asia Pacific, with its large population and growing middle-class driving the demand for compound feed. North America is identified as the fastest-growing region, supported by a well-established livestock industry and advancements in feed technologies. The market is highly competitive, with key players focusing on product innovation, partnerships, and research and development activities. However, the market faces challenges such as volatility in raw material prices. One key market trend is the increasing demand for sustainable and environmentally friendly feed solutions, driven by consumer awareness and environmental concerns. Overall, the global market is poised for continued growth, driven by the need for efficient and nutritious animal feed to meet the rising demand for animal protein worldwide.
Report Metric | Details |
---|---|
Market size value in 2023 | USD 534.52 billion |
Market size value in 2031 | USD 808.14 billion |
Growth Rate | 4.7% |
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:-
|
To get a free trial access to our platform which is a one stop solution for all your data requirements for quicker decision making. This platform allows you to compare markets, competitors who are prominent in the market, and mega trends that are influencing the dynamics in the market. Also, get access to detailed SkyQuest exclusive matrix.
Buy The Complete Report to read the analyzed strategies adopted by the top vendors either to retain or gain market share
Executive Summary
Market overview
Parent Market Analysis
Market overview
Market size
KEY MARKET INSIGHTS
COVID IMPACT
MARKET DYNAMICS & OUTLOOK
Market Size by Region
KEY COMPANY PROFILES
For the Compound 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 Compound 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.
Customization Options
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Compound Feed Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the Compound 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.
Our industry expert will work with you to provide you with customized data in a short amount of time.
REQUEST FREE CUSTOMIZATIONWant to customize this report? This report can be personalized according to your needs. Our analysts and industry experts will work directly with you to understand your requirements and provide you with customized data in a short amount of time. We offer $1000 worth of FREE customization at the time of purchase.
Report ID: SQMIG30I2254