Rockville, June 29, 2023 (GLOBE NEWSWIRE) -- Fact.MR in its up-to-date study, highlights recent developments, growth factors, opportunities, and challenges to offer a better understanding of the global organic feed market. It likewise sheds light on key trends and the market development over segments, including form, sales channel, end use, and region.
Fact.MR – A Market Research and Competitive Intelligence Provider: The global organic feed market is set to be worth US$ 7 billion by 2023. Fact.MR estimates the global market to cross a valuation of US$ 14 billion by 2033.
Organic feed sales are likely to surge at a CAGR of 7.2% from 2023 to 2033. Adoption of organic feed is rising in the poultry industry due to urgent need for poultry meat worldwide. It would also be driven by a rapid shift in terms of preference for consuming organic foods.
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The livestock and farming sector is moving toward bio-based, natural, and more competent approaches to achieve the peak levels of animal care. For this reason, innovation in nutrition and feed is progressing. There is a rising demand for nutrient-rich feeds that can meet the dietary needs of animals at all stages of life.
Organic products are valuable to manufacturers as they offer great profit margins associated with conventional grain products. In count, manufacturers are working with organic feeds to meet the demand arising from a variety of industries. These include poultry, ruminants, crickets, aquaculture, and shrimps.
Organic diets, which are rich in nutrients such as iron, magnesium, vitamin C, and phosphorus, are expected to be highly preferred. Demand for unique feed that are less exposed to nitrates and pesticide residues would also expand. Hence, leading players are capitalizing on research and development activities to launch fresh organic feed for commercial purposes.
Manufacturers are also capitalizing on modern technology to surge the demand for organic feed worldwide. Due to easy accessibility of coastal areas, aquaculture is gaining importance in countless parts of India. It is further leading to the development of the organic aqua feed market.
Country-wise, the USA organic feed market is anticipated to lead North America in terms of share by the end of 2033. Growth is attributed to rising inclination of millennials toward bio-based, natural, and highly effective approaches.
They are adopting such approaches to provide the utmost level of animal care and improve performance. There is a rapidly escalating demand for nutrient-rich feed products that can meet the nutritional needs of animals early in life.
Key Takeaways:
- Based on form, pellets currently account for 60% of the global organic feed market share.
- In terms of end use, the poultry category would generate the lion’s share in the global organic feed market by 2033.
- Germany organic feed market to witness astonishing revenue growth amid increasing environmental concerns.
- Japan organic feed market to exhibit an exponential CAGR with rising shift toward safe-to-eat meat products.
- Europe currently holds about 50% of revenue share in the global organic feed market.
Growth Drivers:
- Rising cases of product contamination owing to exponential use of insecticides and pesticides would propel sales by 2033.
- Surging demand for feed that is free of growth hormones, harmful chemicals, drugs, and antibiotics would accelerate demand.
Restraints:
- Shortage of certified feed additives and high cost of organic feed might hinder sales in the market to a certain extent.
- Limited range of feed additives and lack of commercially available permitted feed ingredients might hamper demand.
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Competitive Landscape
Renowned players in the organic feed market are directing regular product launches with additional ingredients that can meet nutritional needs of animals. Organic feed producers, especially small producers, often struggle to obtain organic certification.
Standards and other certification processes are mandatorily required for manufacturers, farmers, retailers, and food processors to ‘label’ their products as organic. Key players are also aiming to engage in collaborations and partnerships with local companies to co-develop new products.
For instance,
- In February 2023, NATRUE and the Organic Trade Board announced a new joint partnership. The Organic Trade Board is a membership organization for the United Kingdom organic industry. It aims to deliver a unified voice, raise organic awareness, and increase sales.
- In September 2022, Misfits Market announced the acquisition of an online grocery retailer called Imperfect Foods. The former is an online grocery platform focusing on accessibility, affordability, and sustainability.
Key Companies Profiled by Fact. MR
- ForFarmers
- Kreamer Feed, Inc.
- Scratch and Peck Feeds
- Country Heritage Feeds
- Feedex Companies
- Aus Organic Feeds
Key Segments of Organic Feed Industry Research Report
- By Form :
- Pellets
- Crumbles
- Others
- By End Use :
- Poultry
- Ruminants
- Swine
- Aquaculture
- Others
- By Sales Channel :
- Business to Business
- Business to Customer
- By Region :
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East & Africa
Key Questions Covered in the Organic Feed Market Report
- What is the projected value of the organic feed market in 2023?
- At what rate will the global organic feed market grow until 2033?
- Which are the factors hampering development in the organic feed market?
- Which region is expected to lead in the global organic feed market from 2023 to 2033?
- Which are the factors driving the organic feed market during the forecast period?
- What is the expected value of the organic feed market during the forecast period?
Explore Fact. MR's Coverage in the Food & Beverage Domain
Organic Chicken Market: The global organic chicken market would surge at a CAGR of 14.5% from 2021 to 2031. Consumption of organic chicken will reach US$ 11.1 billion by 2031. The market was worth US$ 2.8 billion in 2021. Rising awareness about health benefits of eating organic food items is the leading growth factor.
Organic Chia Seeds Market: Rising awareness of natural and organic foods with associated health benefits would broaden the organic chia seeds market by 2028. Increasing demand for foods produced without the use of synthetic fertilizers and chemicals is also driving the market. Rising urbanization and increasing purchasing power are expanding the demand for organic chia in China, India, and Japan.
Organic Bakery Market: Rising preference for organic bakery goods is driving manufacturers to use innovative technologies and approaches to offer new items. These come with improved taste and aroma. The global organic bakery market stood at US$ 11,000.7 million in 2022.
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