NEWARK, Del, March 01, 2023 (GLOBE NEWSWIRE) -- The global starter feed market is predicted to record a CAGR of 5% over the forecast period, according to a recent market research analysis from FMI. The analysis estimates that the market for starting feed is likely to be worth US$ 33.34 billion in 2023 and US$ 54.31 billion by 2033.
The expansion of the global starter feed market is anticipated to be fueled by crucial components like growing consciousness of livestock health, increasing preference for organic and healthy feed products, and growing adoption of starting feed as a viable substitute for traditional feed globally.
Global demand for livestock is also driving up demand for a wide range of starter feeds. Demand for starter feed is expected to be largely driven by meat intake and the rising demand for dietary items made from animals throughout the world in the upcoming years.
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Other factors that might support market growth in the future include the soaring acceptance of the process of fermentation in livestock feed and a paradigm shift toward contemporary livestock farming practices.
Ascending per capita income, rising consumption of poultry meat globally, and high investments in the creation of innovative starter feeds are also anticipated to open up market opportunities during the forecast period.
North America currently dominates the starter feed market and is expected to maintain this pattern of dominance over the projected period. The grounds for the dominance are the growing demand for meat and meat products, as well as the increasing understanding among farmers in this region of the health advantages of starter feed.
Key Takeaways
- In China, the market is expected to reach a value of US$ 14.18 billion by 2033, expanding at a CAGR of 8.9% during the forecast period.
- During the projection period, a CAGR of 2.5% is anticipated for the market in Germany.
- During the projection period, a CAGR of 2% is predicted for the market in Japan.
- The medicated segment is anticipated to register a 5.4% CAGR to reach US$ 33.04 billion by 2033.
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Competitive Landscape:
The top manufacturers of the starter feed market are Archer Daniels Midland Company, Purina Mills LLC, Nutreco N.V., Cargill Incorporated, Roquette Freres S.A., Evonik Industries AG, Charoen Pokphand Foods PLC, Alltech Inc., Associated British Foods Plc., Koninklijke DSM NV, BASF SE, ACI Godrej Agrovet Private Limited and others.
Manufacturers of starter feed are concentrating on creating high-quality, nutritionally balanced solutions to suit farmer expectations and assist the development and well-being of young cattle. To increase sustainability and feed efficiency, they are also introducing innovative technology. As the need for animal protein rises globally, many are extending their global reach through alliances and acquisitions. Additionally, a few businesses are spending money on research and development to produce specialized diets for particular animal species and developmental phases.
Recent Developments:
- In January 2023, with the addition of the United States to their current agreement for the research and sale of feed enzymes, BASF and Cargill confirmed their cooperation.
- In April 2019, Illinois' new pioneering animal feed factory was officially launched by Archer Daniels Midland Company.
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Starter Feed Market Segmentation
By Type:
- Medicated
- Non-medicated
By Ingredient:
- Wheat
- Corn
- Soybean
- Oats
- Barley
- Other
By Livestock:
- Ruminant
- Swine
- Poultry
- Aquatic
- Equine
By Form:
- Pellets
- Crumbles
- Other
By Region:
- North America
- Latin America
- Europe
- South Asia
- East Asia
- Oceania
- The Middle East & Africa (MEA)
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Table of Content
1. Executive Summary | Starter Feed Market
1.1. Global Market Outlook
1.2. Demand-side Trends
1.3. Supply-side Trends
1.4. Technology Roadmap Analysis
1.5. Analysis and Recommendations
2. Market Overview
2.1. Market Coverage / Taxonomy
2.2. Market Definition / Scope / Limitations
3. Market Background
3.1. Market Dynamics
3.1.1. Drivers
3.1.2. Restraints
3.1.3. Opportunity
3.1.4. Trends
Table of Content
1. Executive Summary
1.1. Global Market Outlook
1.2. Demand-side Trends
1.3. Supply-side Trends
1.4. Technology Roadmap Analysis
1.5. Analysis and Recommendations
2. Market Overview
2.1. Market Coverage / Taxonomy
2.2. Market Definition / Scope / Limitations
3. Market Background
3.1. Market Dynamics
3.1.1. Drivers
3.1.2. Restraints
3.1.3. Opportunity
3.1.4. Trends
Explore FMI’s Extensive Coverage on Food & Beverage Domain:
Organic Feed Market Demand: Demand is forecast to increase at a CAGR of 7.7% over the forecast period, to reach a valuation of US$ 14.3 Bn by 2032.
Feed Flavors Market Forecast: Feed Flavor market is expected to grow at a CAGR of 5.1%. The market value projected to increase is from USD 2,912.9 Mn in 2022 to USD 4,790.2 Mn by 2032.
Fish Feed Market Size: The fish feed market is estimated to account for about USD 112 billion in 2022 and is projected to reach a value of about USD 158.5 billion by 2032.
Animal Feed Additives Market Growth: Overall animal feed additives demand is anticipated to grow at a steady pace, exhibiting a 2.70% CAGR through 2031.
Poultry Feed Market Trends: The poultry feed market is expected to increase at a 5.4% CAGR from 2023 to 2033, from US$ 216.5 billion in 2023 to US$ 365.6 billion by 2033.
About Future Market Insights, Inc.
Future Market Insights, Inc. is an ESOMAR-certified business consulting & market research firm, a member of the Greater New York Chamber of Commerce and is headquartered in Delaware, USA. A recipient of Clutch Leaders Award 2022 on account of high client score (4.9/5), we have been collaborating with global enterprises in their business transformation journey and helping them deliver on their business ambitions. 80% of the largest Forbes 1000 enterprises are our clients. We serve global clients across all leading & niche market segments across all major industries.
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