Burlingame, Dec. 18, 2023 (GLOBE NEWSWIRE) -- CoherentMI published a report, titled, Organic Feed Market Size is estimated to grow from US$ 7.39 Billion in 2023 and is forecast to reach a value of US$ 13.25 Billion by 2030 at a CAGR of 8.7% between 2023 and 2030.
The organic feed market is being driven by two key factors. Firstly, there is a growing demand for organic and natural animal products, driven by the increasing consumer awareness regarding the health benefits associated with organic food consumption. Consumers are becoming more conscious about the potential adverse effects of pesticides, hormones, and antibiotics in conventionally produced animal products. This has resulted in a shift towards organic animal products, thereby driving the demand for organic feed.
Secondly, government regulations and standards promoting the use of organic products are further boosting the market growth. Many countries have implemented regulations and certification programs to ensure the authenticity and quality of organic products, including organic feed. These regulations and certifications provide assurance to the consumers about the organic nature of the products, thereby increasing their demand.
Market Trends:
There are two prominent trends shaping the organic feed market. Firstly, there is a rising trend of vertical integration in the organic feed industry. Key players in the market are adopting the strategy of backward integration by acquiring or partnering with organic farms to produce their own organic feed. This not only ensures a constant supply of organic feed but also helps in maintaining the quality and authenticity of the products.
Secondly, there is an increasing trend of product innovation and development in the organic feed market. Manufacturers are focusing on developing novel and improved formulations of organic feed to meet the specific nutritional requirements of different animal species. They are also investing in research and development activities to improve the nutritional value and overall performance of organic feed.
Recent development:
- In March 2022, Cargill introduced CkickXM, an organic poultry feed that helps grill birds immune systems and digestive health.
- In May 2020, ForFarmers purchased De Hoop Mengvoeders, which broadened the company’s organic feed line.
Market Opportunities in the Organic Feed Market:
Growing Demand for Organic and Sustainable Farming Practices
The organic feed market is witnessing significant growth due to the increasing demand for organic and sustainable farming practices. Consumers are becoming more aware of the environmental and health benefits of organic products, leading to a rise in demand for organic livestock products. This has created a lucrative market opportunity for organic feed manufacturers.
With the ban on the use of synthetic additives and genetically modified organisms (GMOs) in organic livestock farming, there is a growing need for organic feed that meets the strict regulatory standards. Farmers are looking for high-quality organic feed that provides the necessary nutrients to their livestock without compromising on sustainability and animal welfare.
Rise in Demand for Organic Livestock Products
The global demand for organic livestock products is on the rise, creating a significant opportunity for the organic feed market. Consumers are increasingly concerned about the quality of the food they consume and the impact it has on their health and the environment. As a result, there is a growing preference for organic meat, eggs, dairy products, and other livestock products.
Organic livestock farming practices are known to improve animal welfare, reduce environmental pollution, and provide healthier and more nutritious products. This has led to an increased demand for organic livestock products from health-conscious consumers. To meet this demand, farmers are using organic feed that is free from synthetic pesticides, antibiotics, and growth hormones.
Market Takeaways for the Organic Feed Market:
The organic feed market is anticipated to witness a CAGR of 8.7% during the forecast period 2023-2030, owing to the increasing demand for organic and sustainable farming practices. The market size is expected to reach US$ 7.39 billion in 2023.
On the basis of source, the cereal and grains segment is expected to hold a dominant position in the organic feed market. These ingredients are widely available and provide essential nutrients for livestock. It is projected that the cereal and grains segment will continue to dominate the market due to their nutritional value and cost-effectiveness.
In terms of application, the poultry segment is expected to hold a dominant position. Poultry farming is the fastest-growing sector in organic livestock farming globally. With the rising demand for organic poultry products, farmers are using organic feed to meet the regulatory standards and provide high-quality poultry products to consumers.
By form, the crumbles segment is expected to dominate the market. Crumbles are small and easy-to-eat pellets that are suitable for young animals such as chicks and piglets. They provide the necessary nutrients in a more digestible form, promoting healthy growth and development.
North America is expected to hold a dominant position in the organic feed market during the forecast period. The region has a well-established organic farming sector and a strong consumer demand for organic products. The presence of key players in the region also contributes to its dominant position in the market.
Key players operating in the organic feed market include Cargill, Archer Daniels Midland, For Farmers N.V., SunOpta, and Country Heritage Feeds, among others. These players are investing in research and development activities to develop innovative and sustainable organic feed products to meet the growing consumer demand for organic livestock products.
Read complete market research report, "Organic Feed Market Size And Share Analysis - Growth Trends And Forecasts (2023 - 2030)", Published by CoherentMI.
Organic Feed Market Segmentation:
- By Source
- Cereal & Grains
- Oilseeds
- Forage
- Others (pulses, fruits etc.)
- By Application
- Poultry
- Swine
- Ruminant
- Aquatic Animals
- Others (Equine, Pets etc.)
- By Form
- Pellets
- Crumbles
- Mashes
- Others (cakes, bales etc.)
- By Additives
- Amino Acids
- Enzymes
- Vitamins
- Antibiotics
- Antioxidants
- Acidifiers
- Others (probiotics, prebiotics etc.)
- By Region
-
- North America
- U.S.
- Canada
- Latin America
- Brazil
- Mexico
- Rest of Latin America
- Europe
- Germany
- U.K.
- Spain
- France
- Italy
- Russia
- Rest of Europe
- Asia Pacific
- China
- India
- Japan
- Australia
- South Korea
- Rest of Asia Pacific
- Middle East & Africa
- South Africa
- GCC Countries
- Rest of Middle East & Africa
- North America
FAQ’s:
- What factors are impeding the growth of the Organic Feed Market?
- What are the primary drivers fueling the growth of the Organic Feed Market?
- Which segment dominates as the leading component in the Organic Feed Market?
- Who are the key players actively participating in the Organic Feed Market?
- Which region is expected to take the lead in the Organic Feed Market?
- What is the projected CAGR of the Organic Feed Market?
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