Pune, India, Feb. 25, 2021 (GLOBE NEWSWIRE) -- Animal Feed Market Overview:
As per estimates released by Market Research Future (MRFR), the Animal Feed Market size is appraised to display a 4.50% CAGR to obtain USD 730 Billion in income by 2027.
The means to ensure animal wellbeing is very reliant on the feed that indicates well-balanced nutrition. Some contemporary agricultural practices, such as stuffing cows on grains or in feedlots, have disadvantageous effects on the ecosystem and animals. For example, augmented corn or other grain in feed for cows makes their microbiomes more acidic, weakening their immune systems and causing cows to become a more likely path for E. coli. At the same time, new feeding practices can improve animal impacts; for example, feeding cows certain kinds of seaweed can reduce their methane production, cutting the greenhouse gases from meat production. The advantages of animal feed are increasingly recognized, leading to an augmented effect on the pace of industrial farming and buyers' progressing perceptions about their diet. This development trend can be reinforced by the upsurge in the propensity towards meat and dairy products. The rising demand among human beings for animal-based products is also likely to be a chief factor for developing the animal deed share by fueling business growth by focusing more on animal welfare. Many farmers advocate the fortification of animal feed with essential vitamins, minerals, and other nutrients to boost its quality and strength. New prospects for animal feed will be promoted by the growing approval of meat and meat-related products in the coming years.
The animal feed manufacturers are in a tumultuous pace of changes affecting their businesses, especially the recent COVID-19 pandemic. The pandemic, a varying workforce, and ever-evolving customer needs are leading animal feed manufacturers to modernize to grab a larger percentage of the global market. As the animal feed industry is currently exploring new protein supplies to preserve its sustainability, insect feed is set to grow in popularity. By form, pellets held the global market's chief share in the Animal Feed Market and will cross USD 243.62 billion by 2023. The easily digestible nature of pellets and the negligible animal waste it creates will further promote this segment. Cargill Animal Nutrition, for instance, has launched a new premix facility in Ohio, USA. The 220,000 square-foot space will manufacture 154,000 tons of non-medicated animal feed and pet food products and premix yearly. This factory is estimated to raises the bar on premix production expertise and was designed based on the company's animal nutrition experience globally and with a strategic outlook for the future of premix manufacture.
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Existing research establishes the advantages of using insects for animal nutrition, such as the black soldier fly, housefly larvae, and grasshopper are being considered. Zero-waste farming, very low GHG emissions, and a reduced water footprint make grasshoppers a sustainable protein source. The animal feed market companies are presently expanding their manufacturing capacity and plan to launch grasshopper farms among others, globally as one of the evolving areas for animal feed producers in the sales process. The animal feed industry still has many physical practices that need automation as reps return to making visits. Modern technology such as mobiles or tablets can take orders at the sale point, which will improve sales order processing efficiency and bring other benefits. By species, the poultry segment is estimated to hit a worth of USD 246.76 billion due to the similarly balanced intake of eggs and meat by customers.
Key Players Locking Horns:
- Neovia Group (France)
- Archer Daniels Midland (ADM) Company (U.S.)
- COFCO Limited (Hong Kong)
- New Hope Group (China)
- ForFarmers N.V. (The Netherlands)
- Charoen Pokphand Group (Thailand)
- Cargill, Inc. (U.S.)
- Japfa Comfeed Indonesia Tbk (Indonesia)
- NUTRECO N.V. (The Netherlands)
- Land 'O Lakes Inc. (U.S.)
Browse In-depth Market Research Report (115 pages) on Animal Feed: https://www.marketresearchfuture.com/reports/animal-feed-market-1611
Regional Status and Challenges:
The APAC region's Animal Feed Market accounted for a 35.18 % share and is expected to hit a USD 226.91 billion valuations by 2023, with a CAGR of 4.75 % in the forecast period. Due to the abundance of fish farming prospects, a market capacity of 485.75 MT may be accumulated by 2023. Furthermore, the strong economic development in developing countries, such as Indonesia, China, and India, the region has experienced a substantial demand increase. Owing to Russia, France, Germany, and Spain's contribution, the regional market in Europe accounted for a 25.02 % share of the global economy in 2018. The high requirement for pet foods and augmented aqua feed production, swine feed, and broiler feed is expected to fuel animal feed market growth by 2023. Kemin Industries, an international ingredient manufacturer, has recently announced that it is working with CSS to explore high-quality, sustainable pet food ingredients from upcycled groceries. Kemin Nutrisurance, the pet food and rendering technologies commercial unit of Kemin, uses scientific expertise and innovative technologies to deliver industry-leading solutions for pet food palatability, stability, safety, and nutrition. The company has also launched KemTRACE Chromium-OR – an organic-compliant chromium propionate feed ingredient for cattle, broiler, swine, and horse nourishments.
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Market Segmentation:
The global market is set to make great strides to improve revenue streams and growth opportunities in the global market in the forthcoming period. Bell & Evans, a family-owned premium poultry manufacturer, is set to capitalize USD 500m in U.S. organic-certified grains, declaring a sourcing contract with Cargill that targets to change 50,000 acres of conventional corn and soybean manufacture to USDA Certified Organic. The venture is set to proceed over five years. The crops will be used to manufacture animal feed for Bell & Evan's organic chicken range. In 2020, Bell & Evans realized 25% growth in organic chicken sales and estimated progress of 27% in 2021 and 17-20% each year after that, through to 2024. Hence the need to enlarge the supply of U.S. grown organic-certified corn and soybeans consumed in its organic chicken feed. The company will be wholly procuring its organic grain from Cargill, a long-time provider to the chicken manufacturer.
Discover more Research Reports of Agriculture Industry, by Market Research Future:
Organic Feed Market Research Report: Information by Source (Cereals & Grains, Oilseeds, Forage, Others), Form (Pellets, Crumbles, Mashes), Livestock (Ruminants, Poultry, Swine, Aquaculture, Others) and Region (North America, Asia-Pacific, Europe and Rest of the World) - Forecast till 2026
Ornamental Fish Feed Market: Information By Type (Processed Feed and Live Feed), Fish Type (Tropical Fishes, Goldfish, Koi and Others), Distribution Channel (Store-Based {Hypermarkets & Supermarkets, Specialty Stores and Others} and Non-Store-Based) and Region (North America, Europe, Asia-Pacific, Latin America and the Middle East & Africa) - Forecast till 2026
Starter Feed Market Research Report: Information by Type (Medicated and Non-Medicated), Form (Pellets and Crumbles), Livestock (Ruminant, Poultry, Swine, Aquaculture, and Others), and Region (North America, Europe, Asia-Pacific, and Rest of the World)—Forecast till 2024
Compound Feed Market Research Report: by Ingredient (Cereals, Cereal By-products, Oilseed Meal, Oils, Molasses, Supplements, Others), by Supplement (Vitamins, Antibiotics, Antioxidants, Amino Acids, Enzymes, Acidifiers, Others), by Livestock (Ruminants, Aquaculture, Poultry, Swine, Others), and Region - Global Forecast till 2023
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