NEW YORK, Dec. 07, 2022 (GLOBE NEWSWIRE) -- IndexBox has just published a new report on the global animal food market. Here are some of the most noteworthy findings.
Animal Food Market Size
The global market for animal feed was valued at $1.0 billion in 2021 and is expected to grow at a CAGR of 3.4% during the forecast period of 2021-2030. The Asia-Pacific region is the largest market for animal feed, accounting for 54% of the global market in 2021. North America is the second-largest market, followed by Europe and South America.
The increasing demand for meat and dairy products is the major driver of the animal feed market. The world population is projected to reach 9.7 billion by 2050 from 7.6 billion in 2017, which will lead to an increase in demand for livestock products. The growing middle class in developing countries is another factor driving the demand for animal feed, as they have higher disposable incomes and are able to purchase more protein-rich foods such as meat and dairy products. In addition, the changing lifestyle of consumers, who are now preferring healthy and nutritious food options, is also fueling the growth of the animal feed market.
Animal Food Types
There are many different types of animal food available on the market today. Each type of food has its own unique benefits and drawbacks. Here is a look at some of the most popular types of animal food:
1. Dry food: Dry food is the most common type of animal food. It is typically made from a variety of different ingredients, including meat, grains, vegetables, and fruits. Dry food is easy to store and can be given to animals on a regular basis. However, dry food can be less nutritious than other types of animal food and may not contain all the nutrients that your pet needs.
2. Wet food: Wet food is another popular type of animal food. Wet food is typically made from meat or fish that has been cooked in water or broth. Wet food can be more nutritious than dry food and can provide your pet with more moisture. However, wet food can be more expensive than dry food and may spoil more quickly.
3. Raw diet: A raw diet consists of uncooked meat, bones, and organs. This type of diet can be very nutritious for pets but may be difficult to digest if not prepared properly. Raw diets should only be given to pets under supervision from a veterinarian or experienced pet owner.
4. Home-cooked meals: Home-cooked meals are another option for feeding your pet. These meals are typically made from fresh ingredients and can be customized to meet your pet's specific nutritional needs. However, home-cooked meals can be time-consuming to prepare and may not be as nutritious as other types of animal food.
Animal Food Benefits
Animal foods are a nutritious and healthy option for humans. They are a good source of protein, essential nutrients, and vitamins. Animal foods can also help to improve your overall health and well-being. Here are some of the benefits of eating animal foods:
1. Animal foods are a good source of protein. Protein is essential for the growth and maintenance of your body tissues. It is also necessary for the production of enzymes and hormones. Animal foods, such as meat, poultry, fish, and eggs, are some of the best sources of protein.
2. Animal foods provide essential nutrients that your body needs to function properly. These nutrients include vitamins, minerals, and amino acids. Amino acids are the building blocks of protein. They are essential for the growth and repair of your tissues. Vitamins and minerals are important for many functions in your body, such as metabolism, immunity, and bone health.
3. Animal foods can help to improve your overall health and well-being. Eating animal foods has been linked with lower risks of heart disease, stroke, cancer, and other chronic diseases. Animal foods can also help you to maintain a healthy weight, build strong bones and muscles, and improve your mental health.
Animal Food Market Trends
The animal food market is constantly changing and evolving. As the demand for healthier, more natural, and sustainable products increases, so does the need for new and innovative products that meet these criteria.
Some of the latest trends in animal food include:
Healthy and Natural: Consumers are becoming increasingly aware of the importance of feeding their animals healthy, natural foods. As a result, there is a growing demand for products that are free from artificial ingredients, preservatives, and GMOs.
Sustainability: Sustainability is another key trend in the animal food market. Consumers are looking for products that are produced in a way that minimizes environmental impact and supports the humane treatment of animals.
Innovation: In order to meet the ever-changing needs of consumers, manufacturers must continually innovate their products. This could include developing new formulas or using novel ingredients.
Animal Food Market Opportunities
The animal food market is expected to continue to grow in the coming years. This growth will be driven by a number of factors, including the continued expansion of the global population and the corresponding increase in demand for meat and dairy products. In addition, the growing middle class in developing countries is increasingly adopting Western diets that include more animal-based proteins.
This increased demand will present opportunities for companies operating in the animal food market. Those that are able to meet the growing demand while maintaining high standards of quality and safety will be well-positioned to succeed.
Population growth is the most significant driver of the animal food market. As the world's population continues to grow, so does the demand for animal-based products. This includes both meat and dairy products, as well as eggs and other animal-based foods. Economic development is also a key driver of the animal food market. As countries become more developed and incomes rise, people are able to afford more animal-based products. In addition, changing dietary preferences are playing a role in the growth of the animal food market. Increasing numbers of people are choosing to include more animal-based foods in their diets, whether for health reasons or simply because they enjoy the taste.
Animal Food Market Sales Channel
The animal food market comprises various sales channels through which animal feed is distributed. The main sales channels for animal feed are pet stores, veterinary clinics, and online retailers. Other sales channels include farm supply stores, feed mills, and co-ops.
Pet stores are the most popular sales channel for animal food, accounting for over 30% of total sales. Pet stores offer a wide variety of brands and products, making them a one-stop shop for pet owners. Veterinary clinics are the second largest sales channel for animal feed, accounting for 20% of sales. These clinics typically sell premium brands of pet food and offer nutritional advice to pet owners.
Online retailers are another popular option for purchasing animal feed, accounting for 15% of total sales. These retailers offer convenience and often have competitive prices. Farm supply stores, feed mills, and co-ops make up the remaining 35% of animal food sales channels. These outlets typically sell bulk quantities of feed at discounted prices.
About IndexBox
IndexBox is a market research firm developing an AI-driven market intelligence platform that helps business analysts find actionable insights and make data-driven decisions. The platform provides data on consumption, production, trade, and prices for more than 10K+ different products across 200 countries.
Companies Mentioned in the Report
Cargill Inc., Archer Daniels Midland Company, Land O’Lakes Inc., Tyson Foods Inc., Purina Animal Nutrition LLC, BRF SA, Alltech Inc., Nutreco N.V., Kerry Group plc, Charoen Pokphand Foods PCL, Nestle Purina PetCare Company, Mars Incorporation, Colgate-Palmolive Company, Blue Buffalo Co., Ltd., Hill's Pet Nutrition Inc., Big Heart Pet Brands, Diamond Pet Foods Inc., Sunshine Mills Inc., WellPet LLC, Ains.
Sources
World - Animal Food - Market Analysis, Forecast, Size, Trends and Insights
EU - Animal Food - Market Analysis, Forecast, Size, Trends and Insights
Asia - Animal Food - Market Analysis, Forecast, Size, Trends and Insights
U.S. - Animal Food - Market Analysis, Forecast, Size, Trends and Insights
