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

Q: What is the key driver of Global Feed Software Market?

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.

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

Feed Software Market Insights

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).

In generating and maintaining feed formulations, feed nutritionists, formulators, veterinarians, and manufacturers use feed software. It provides budget reports and charts to help you prepare a well-balanced diet and gives information about suppliers who sell items for cheap. By choosing and combining ingredients that preserve the health of animals and enhance the quality of by-products like meat, milk, or eggs, it also aids in the production of nutrient-dense feed. Feed software is becoming more popular these days since it helps with time savings, manufacturing cost savings, and avoiding human calculation errors. The trend toward new technologies such as the Internet of Things (IoT) and Artificial Intelligence (AI) offers this industry additional growth potential in the coming years.

US Feed Software Market is poised to grow at a sustainable CAGR for the next forecast year.

Feed Software Market Report Snapshots

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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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