NEWARK, Del, July 10, 2023 (GLOBE NEWSWIRE) -- According to Future Market Insights (FMI), the global animal feed industry is set to be valued at US$ 530.0 billion in 2023. It is anticipated to reach US$ 929.0 billion by 2033. Over the next ten years, global animal feed demand is likely to increase at a CAGR of 7.3%.
The Increasing world population has boosted the demand for animal protein. Demand for the production of livestock and poultry has surged as more individuals move into the middle class and adopt diets high in meat & dairy products. A greater amount of animal feed is needed to meet this demand.
The Rising demand for animal feed is partly a result of economic growth in emerging markets. Populations of nations such as China, India, and Brazil are demanding more varied meals as a result of the rising industrialization and urbanization of those nations. As a result, people are eating more meat, which has increased the need for animal feed.
Discover the latest industry trends in the Animal Feed Market! Download our sample PDF and stay ahead of the competition: https://www.futuremarketinsights.com/reports/sample/rep-gb-17499
Growth in demand for animal feed has been significantly influenced by the expansion of aquaculture. In order to address the rising global demand for seafood, fish farming has gained immense popularity.
For fish to develop effectively, feed must be nutrient-rich. The Need for specialized feeds made for various species increases as aquaculture develops.
Research & developments in animal nutrition have shown the advantages of tailored diets for livestock and poultry. In order to enhance animal health, growth rates, and product quality, farmers and producers are beginning to realize how crucial it is to provide balanced & high-quality feed. Due to this awareness, feed formulations are becoming more complex, and demand for specialty feed products is rising.
Global demand for animal feed is on the rise, in part due to the ongoing expansion of the pet food sector. Demand for premium pet food has soared as more people acquire pets and cherish them as beloved family members.
A sizable market has been generated for specialty pet food formulations that meet distinct dietary requirements of multiple animal species, including dogs, cats, and exotic pets. Demand for components used in animal feed is increased by the sector’s heavy reliance on it.
High-performance animal breeds that need specialized diets have emerged as a result of improvements in livestock genetics and breeding methods. These genetically enhanced animals have special nutritional needs to sustain their development, output, and general well-being.
To address the unique nutritional requirements of these animals, there is a growing demand for customized and specialized animal feed formulations. This trend is especially noticeable in the poultry and dairy sectors, where maximizing production and performance is highly valued.
Key Takeaways from this Market Report:
- The global animal feed industry elevated at a CAGR of 6.1% from 2018 to 2022.
- The United States animal feed industry is projected to witness a considerable CAGR of 6.3% in the next ten years.
- China animal feed industry is anticipated to reach a valuation of US$ 101.6 billion by 2033.
- The United Kingdom animal feed industry is likely to register a CAGR of 5.4% from 2023 to 2033.
- By source, the plant-based segment is projected to hold the most prominent animal feed market share in 2033.
“Through a variety of factors, the retail sector is vital in driving up demand for animal feed. Retail businesses might directly affect consumer choices by providing an extensive selection of animal-based goods. It is hence expected to open the door to new opportunities” – says a lead analyst at Future Market Insights (FMI).
Discover the latest insights on the Animal Feed Market in a conversation with our expert analyst: https://www.futuremarketinsights.com/ask-question/rep-gb-17499
Who is winning?
Leading companies are placing a strong emphasis on quality assurance in the global animal feed industry. They are doing this by putting strict testing and quality control procedures into place at every stage of the manufacturing process.
They are further gaining certificates such as good manufacturing practices (GMP) or quality certifications for the production of organic or non-GMO feed. The credibility and confidence of customers can be increased with this tactic.
Brands might additionally distinguish their animal feed products by providing distinctive formulas, specialist ingredients, or particular advantages catered to certain animal species. They can differentiate themselves in the market and satisfy particular needs thanks to this tactic.
In order to address the rising demand for ecologically friendly products, numerous animal feed companies might implement sustainable and eco-friendly procedures. They can use less waste, water, and energy while obtaining materials from sustainable agriculture.
For instance,
- Evonik declared its intention to release an improved version of Biolys in May 2023. It would be a reliable source of lysine for animal feed. Clients will be able to more efficiently meet the essential amino acid L-lysine needs of their animals.
Get More Valuable Insights into this Market Report:
Future Market Insights (FMI), in its new offering, provides an unbiased analysis of the global animal feed industry presenting historical demand data (2018 to 2022) and forecast statistics for the period from 2023 to 2033.
The study incorporates compelling insights on the animal feed industry based on species (poultry (commercial), backyard poultry, ruminants, swine, equine), form (wet/moist food, dry kibble, semi-moist food, frozen, and freeze-dried food), source (plant-based, animal-based, micro-organisms), sales channel (direct sales, indirect sales, modern trade, animal feed stores, veterinary clinics, online retailers), and regions.
Customize Your Report now: https://www.futuremarketinsights.com/customization-available/rep-gb-17499
Key Companies Profiled are:
- DSM N.V
- BASF SE
- Parry Nutraceutical
- Fuji Chemical Industries Co
- Divi’s Laboratories
- Piveg, Inc
- Fenchem Biotek Ltd.
- Alga technologies
- Cyanotech Corporation
- Zhejiang NHU Co., Ltd.
Market Outlook by Categorization:
By Species:
- Poultry (Commercial)
- Backyard Poultry
- Ruminants (Cattle, Sheep, Goats)
- Swine
- Equine
By Form:
- Wet/Moist Food
- Dry Kibble
- Semi-moist Food
- Frozen
- Freeze-dried Food
By Source:
- Plant-based
- Animal-based
- Micro-organisms
By Sales Channel:
- Direct Sales
- Indirect Sales
- Modern Trade
- Animal Feed Stores
- Veterinary Clinics
- Online Retailers
By Region:
- North America
- Latin America
- Europe
- East Asia
- South Asia
- Oceania
- Middle East & Africa
Purchase Now to Access Comprehensive Segmented Information, Identify Key Trends, Drivers, and Challenges: https://www.futuremarketinsights.com/checkout/17499
About the Food & Beverage Division at Future Market Insights (FMI):
Expert analysis, actionable insights, and strategic recommendations – the food & beverage team at Future Market Insights (FMI) helps clients from all over the globe with their unique business intelligence needs. With a repertoire of over 1,000 reports and 1 Billion+ data points, the team has analysed the food & beverage industry lucidly in 50+ countries for over a decade. The team provides end-to-end research and consulting services; reach out to explore how we can help.
Top Reports Related to Food and Beverage Market domain:
Animal Feed Additives Market Size: The animal feed additives market size is projected to be valued at US$ 16,067 million in 2023 and is expected to rise to US$ 19,877.0 million by 2033.
Animal Feed Ingredients Market Share: The animal feed ingredients market is projected to expand its roots at an average CAGR of 4.0% during the forecast period. The market is likely to hold a revenue of US$ 39.51 billion in 2023 while it is anticipated to cross a value of US$ 60.65 billion by 2033.
Animal Feeds Microalgae Market Trend: The demand for microalgae in the animal feed sector totaled US$ 57.54 Million in 2021, according to latest insights by Future Market Insights (FMI). Exhibiting a CAGR of 3.5% for 2021-31, the market is expected to reach US$ 80.96 Million by 2031.
Animal Feed Probiotics Market Value: The animal feed probiotics market value is expected to total US$ 3,594 million in 2023, according to Future Market Insights (FMI). The revenue from sales of animal feed probiotics is expected to reach US$ 6,784.3 million by 2033, growing at a CAGR of 7% during the forecast period.
Animal Feed Alternative Protein Market Growth: The global animal feed alternative protein market is expected to be valued at US$ 3.96 Billion in 2023 and will grow at a CAGR of 7.5%.
Animal Feed Antioxidants Market Sale: The animal feed antioxidants market is estimated to be around USD 323.61 Million in 2023 and is anticipated to grow to USD 1056.48 Million by 2033, with a CAGR of 12.56% from 2023 to 2033.
Nutritional Ingredients in Animal Feed Market Scope: The global nutritional ingredients in animal feed market is expected to reach a market valuation of USD 93.2 Bn by the year 2022, accelerating with a CAGR of 7.1% by 2022 to 2032.
Fish Feed Market Forecast: 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, at a CAGR of 8.0%.
Poultry Feed Market Analysis: 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.
Hydrolyzed Animal Protein Market Demand: The hydrolyzed animal protein market is expected to reach US$ 838.43 million by 2033, recording a CAGR of 6.1% over the forecast period, from an estimated value of US$ 463.78 million in 2023.
About Future Market Insights (FMI):
Future Market Insights, Inc. (ESOMAR certified, Stevie Award - recipient market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10 years.
Contact Us:
Future Market Insights Inc.
Christiana Corporate, 200 Continental Drive,
Suite 401, Newark, Delaware - 19713, USA
T: +1-845-579-5705
For Sales Enquiries: sales@futuremarketinsights.com
Browse Other Reports: https://www.futuremarketinsights.com/reports
LinkedIn | Twitter | Blogs
