Selbyville, Delaware, May 04, 2023 (GLOBE NEWSWIRE) --
The starter feed market valuation is predicted to be worth USD 82 billion by 2032, as reported in a research study by Global Market Insights Inc.
The rapidly expanding aquaculture sector worldwide will positively impact the preference for starter feed. The increasing consumption of seafood has resulted in the rising popularity of high-quality starter feeds in aquaculture. As per the OECD-FAO Agricultural Outlook, the food fish consumption across the globe is expected to reach 21.4 kg per capita in 2031. The extensive penetration of starter feeds in fish and shrimp farming will further boost the market trends.
The starter feed market from the medicated segment is slated to witness over 8.5% CAGR between 2023 and 2032. Medicated starter feed are extensively preferred as they help in providing essential nutrients as well as medication to young animals, including chicks, piglets, and calves. The surging rate of population growth and the consequently rising incomes have spurred the higher intake of animal protein, further accelerating the adoption of medicated starter feed.
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The starter feed market from the wheat starter feed segment is estimated to reach USD 10.7 billion by 2032. Wheat is a rich source of essential nutrients, energy, protein, and is, thus commonly used with other ingredients to cater to the growing animal nutritive needs. For instance, easily digestible wheat proteins are extensively incorporated in prestarters for calves and piglets. Furthermore, the surging preference for wheat-sourced starter feeds for young animals, including chicks will add to the market demand.
Starter feed market from the organic nature segment is poised to showcase around 7.8% CAGR till 2032, owing to growing importance on sustainable as well as eco-friendly farming practices has propelled the preference for organic and natural products worldwide. Hence, the rising focus of manufacturers on introducing innovations to meet the rising livestock requirements will contribute to the demand for organic starter feed. For instance, Cargill unveiled Neochicc, a new complete diet in mini-pellet form, comprising essential oils and organic acids for improved gut health and nutrient absorption for broiler and layer chicks.
The starter feed market from the ruminant segment is anticipated to expand at a CAGR of 8.2% through 2032. Young calves extensively rely on efficient pre-starter feed for ensuring the smoothest transition from calves to ruminants with stimulated growth. The growth can also mainly be accredited to the thriving demand for meat and dairy products in order to cater to the rapidly rising population.
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Europe starter feed market will cross USD 22.3 billion by 2032, impelled by the rising development of novel feed options deploying plant-based proteins, inclusive of soy and pea protein. For instance, in February 2023, Evonik introduced its first-ever plant-based feed additive, PhytriCare® IM, for the improved health of sows, laying hens as well as dairy cows. The growing environmental impacts of animal agriculture along with the increasing health benefits of plant-based diets will further augment the preference for plant-based proteins, subsequently adding to the regional industry growth.
Some of the leading companies operating in the starter feed market include Archer Daniels Midland Company, Cargill Incorporated, Nutreco N.V., Purina Mills LLC, Alltech Inc, ACI Godrej Agrovet Private Ltd, BASF SE, Associated British Foods PLC, Evonik Industries AG, BRF SA, and Roquette Freres SA. These firms are focusing on partnership ventures, such as acquisitions and mergers as well as production expansions to increase their global presence. For instance, in May 2021, Cargill commenced the production of AquaXcel starter feed, a formulation comprising specialized immune-boosting ingredients, at its Serang plant in Indonesia.
Partial chapters of report table of contents (TOC):
Chapter 2 Executive Summary
2.1 Starter Feed market 360º synopsis, 2018 – 2032
2.1.1 Business trends
2.1.2 Type trends
2.1.3 Ingredients trends
2.1.4 Livestock trends
2.1.5 Form trends
2.1.6 Nature trends
2.1.7 Regional trends
Chapter 3 Starter Feed Industry Insights
3.1 Industry segmentation
3.2 Industry size and forecast, 2018 - 2032
3.2.1 COVID-19 impact on the industry landscape
3.3 Industry ecosystem analysis
3.3.1 Profit margin at each stage
3.3.2 Value addition at each stage
3.3.3 Raw material analysis
3.3.3.1 COVID-19 impact on raw material supply
3.3.4 Distributor channel analysis
3.3.4.1 Value chain disruption analysis (COVID-19 impact)
3.3.5 Vendor matrix
3.3.5.1 List of key manufacturers
3.3.5.2 List of key distributors
3.4 Innovation & sustainability
3.4.1 Patent analysis
3.4.2 Technology landscape
3.4.3 Future trends
3.5 Industry impact forces
3.5.1 Growth drivers
3.5.1.1 Increasing demand for meat
3.5.1.2 Technological advancements in animal nutrition
3.5.1.3 Growth in aquaculture
3.5.2 Industry pitfalls & challenges
3.5.2.1 Fluctuating raw material costs
3.6 Regulatory landscape
3.6.1 U.S.
3.6.2 Europe
3.6.3 Asia
3.7 Growth potential analysis
3.8 Regional price trends
3.8.1 Cost structure analysis
3.8.2 Price by product
3.8.3 COVID-19 impact on pricing
3.9 Growth potential analysis
3.10 Porter’s analysis
3.11 PESTEL analysis
3.12 COVID-19 impact on Starter Feed by type
3.13 Impact of Russia-Ukraine war on starter feed market
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About Global Market Insights Inc.
Global Market Insights Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider, offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy, and biotechnology.
