Food items produced and grown for ruminants, poultry, swine, aquatic animals, etc. are referred to as animal feed. The opportunities for the animal feed market to grow during the forecast period are being driven by rapid urbanization, rising meat consumption, and rising consumption of other end products like milk and eggs across various regions. Through the addition of enriched nutrients to the feed, the acceleration of growth and weight gain, and the development of immunity, the feed aids in improving the animal's abilities. By the end of 2050, the United Nations predicts that the world's appetite for food will have increased by more than 50%. To do this, animal food production must increase from its current level by almost two times for poultry, swine, and beef, and by about three times for dairy and fish. Aquaculture is predicted to grow by about 90%, dairy products are predicted to increase by about 55%, and meat production is predicted to increase by about 70% globally.
According
to Marketlook Consulting’s research report “Global Animal Feed Market Analysis,
2021”, the Global Animal Feed market is anticipated to grow at a CAGR
of 3.5% during 2022-29 The market would reach USD 616.87 Bn by 2029.
Based
on Form Type, the market is segmented into Pellets, Crumbles, Mash, and Others.
Pallets segment grabbed the major market share and dominated the market in
0221. Feed pellets offer a higher nutritional density, more substantial
economic advantages, and a more complete nutritional profile.
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Based
on the Animal Type, the Animal Feed market is divided into Swine, Ruminants,
Poultry, and Others. Owing to the uplifting demand for chicken and eggs, the
poultry segment is predicted to develop at the fastest CAGR during the
forthcoming years.
“Global Animal Feed Market Analysis,
2021” provides comprehensive
qualitative and quantitative insights on the industry potential, key factors
impacting sales and purchase decisions, hotspots, and opportunities available
for Animal Feed providers across the Globe. Moreover, the report also
encompasses the key strategic imperatives for success for competitors along
with strategic factorial indexing measuring competitors’ capabilities on 16
parameters. This will help companies in the formulation of Go to Market
Strategies and identifying the blue ocean for its
offerings.
Asia Pacific Dominated the Market
Due
to a sizable consumer base, particularly in the developing economies of China
and India, the animal feed market in the Asia Pacific region is estimated to
hold a sizeable market share. The forecasted market growth is being aided by an
expanding middle-class population with rising family incomes. Consumers are
more willing to spend money to satisfy their nutritional needs outside of a
regular diet of cereals. During the forecast period, this region is anticipated
to grow at the fastest CAGR as stated in the Marketlook
Consulting research report “Global Animal Feed Market
Analysis, 2021”.
According
to Marketlook Consulting’, the key players with a considerable
market share in the global Animal Feed market are Archer-Daniels-Midland
Company, Cargill Incorporated, Charoen Pokphand Group, Dupont De Nemours Inc.,
Evonik Industries AG (RAG-Stiftung), ForFarmers N.V., Kemin Industries Inc.,
Nutreco N.V. (SHV Holdings), Perdue Farms Inc., Tyson Foods Inc.
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Market Segmentation:
- By Form Type
(Pellets, Crumbles, Mash, Others)
- By
Animal Type (Swine, Ruminants,
Poultry, Others)
- By
Region (North America, Europe,
Asia-Pacific, South America, Middle East and Africa)
- By
Company (Archer-Daniels-Midland Company,
Cargill Incorporated, Charoen Pokphand Group, Dupont De Nemours Inc.,
Evonik Industries AG (RAG-Stiftung), ForFarmers N.V., Kemin Industries
Inc., Nutreco N.V (SHV Holdings), Perdue Farms Inc., Tyson Foods Inc.)
Key questions answered in the study:
- What
are the current and future trends of the animal feed industry?
- How
the industry has been evolving in terms of form and animal type?
- How
the competition has been shaping across the countries followed by their
comparative factorial indexing?
- What
are the key growth drivers and challenges for the animal feed industry?
- What
is the customer orientation, purchase behavior, and expectations from the
animal feed firms across various regions?
About Us:-
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market intelligence and consulting firm that aims to offer business insights
and market research reports to large as well as small & medium scale
enterprises (SMEs). The company helps its clients to design business strategies
and policies and accomplish sustainable growth in their relevant market area.
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