What is the global market size of Feed Software Market?

Global Feed Software Market size was valued at USD 1.2 billion in 2021 and is poised to grow from USD 1.29 billion in 2022 to USD 2.4 billion by 2030, growing at a CAGR of 7.4% in the forecast period (2023-2030).

Feed Software Market Size, Share, Growth Analysis, By Animal type(Swine, Poultry, Ruminant, Aquaculture), By Type(Feed Formulation Software, Animal Simulation Model & Others), By Mode of Delivery(On-premises, Cloud-based), By end use(Feed Producers, Animal Farmers, Nutritional Professional and Consultants, Veterinarians), By Region - Industry Forecast 2024-2031

Report ID: SQMIG45E2086 | Region: Global | Published Date: February, 2024
Pages: 242 | Tables: 117 | Figures: 77

Feed Software Market Dynamics

Feed Software Market Drivers

Increasing Demand for Wholesome Animal Food Products to Boost Market Growth

The global feed software market is primarily being driven by the increasing usage of feed software to maximise profits over feed costs, progress reporting and data sharing, and flexibility and adaptability as per changing scenarios. Additionally, it is projected that increasing investment and development of key players in the feed management segment will propel the worldwide feed management software market during the forecast period.

The rising demand for the inclusion of enzymes in feed and quality control, the expanding animal population, the rising demand for wholesome animal food products, the increased costs of pet insurance and animal health care, as well as the falling cost of feed manufacturing.

Feed Software Market Restraints

Lack of Animal Health to Hinder Market Growth

However, it is anticipated that a lack of veterinarians in developing nations and a lack of knowledge about animal health would in some cases restrain market expansion.

Feed Software Market Report Snapshots

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Feed Software Market size was valued at USD 1.2 billion in 2019 and is poised to grow from USD 1.29 billion in 2023 to USD 2.4 billion by 2031, growing at a CAGR of 7.4% in the forecast period (2024-2031).

Small- to medium-sized feed software producers make up a large portion of the market, together with a select group of well-known companies including Format Solution, Adifo Software, Kemin, Evonik, DuPont, and Alltech. The most cost-effective feed formulation, ratio calculation, cloud services, and ERP are just a few of the software solutions for the feed business that Adifo Software, a top provider of feed software, offers. 'Adifo NV', 'Alltech Inc.', 'Anpario plc', 'Archer Daniels Midland Company', 'Cargill, Inc.', 'Chr. Hansen Holding A/S', 'Evonik Industries AG', 'ForFarmers NV', 'Land O'Lakes Inc.', 'Lallemand Inc.', 'Nutreco NV', 'Phibro Animal Health Corporation', 'Provimi Holding BV', 'Ridley Corporation Limited', 'Skretting AS', 'Trouw Nutrition International BV', 'Vetanco SA', 'WATT Media, Inc.', 'Zeeland Farm Services Inc.', 'Zoetis Inc.'

The feed software market is primarily being driven by the increasing usage of feed software to maximise profits over feed costs, progress reporting and data sharing, and flexibility and adaptability as per changing scenarios. Additionally, it is projected that increasing investment and development of key players in the feed management segment will propel the worldwide feed management software market during the forecast period.

The growing market for animal feed as a result of rising meat consumption has demanded feed production optimization, especially when done on an industrial scale, to assure low costs and high-quality feed. Animal feed formulation is a difficult process that frequently results in the over or underuse of a few substances. When ingredients are used excessively, feed grinding procedures become more expensive, and when they are used insufficiently, animals' growth and development may suffer. The feed software market will be driven during the forecasted period by the growing output of animal feed around the world.

Due to its widespread acceptance and expanding demand from the region's dominant poultry sector, North America held a sizable part of the market for feed management software. The Latin American markets would have overtaken Europe in terms of the use of feed management software systems, including leasing and financing options for agricultural equipment.

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Feed Software Market Dynamics

Feed Software Market Report Snapshots

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