NEWARK, Del, June 27, 2023 (GLOBE NEWSWIRE) -- The global compound feed market size is poised to exhibit monumental growth from 2023 to 2033. According to the research report published by FMI, the global market is projected to cross a valuation of US$ 418 billion in 2023. It is predicted to surpass a valuation of US$ 674.42 billion by 2033. The market is anticipated to showcase a modest CAGR of 4.9% from 2023 to 2033.
Urbanization and industrialization are consistently mushrooming across the globe. The increasing global population is resulting in a surge in demand for poultry, meat, and dairy products. With increasing urbanization, the purchasing power of consumers is also increasing. The demand for food goods including beef, milk, eggs, and other dairy products is projected to increase as urbanization and industrialization progress. An increase in industrial livestock production methods is likely to boost the demand for compound feed in the coming years.
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When compared to conventional feed, compound feed is more effective. It is an economical method of giving animals the nourishment they require to develop and remain healthy. Compared to conventional feed, it is easier to carry and store. Also, it can be tailored according to the unique nutritional needs of various animals and the stages of their development. These factors are anticipated to increase the preference for compound feed over conventional feed, consequently accelerating the market’s development. Furthermore, ingredients for compound feed are readily accessible and may be obtained from a wide range of sources. For large-scale cattle production, this offers a stable and dependable feed supply. Growth potential for the market players is projected to be profitable as a result of the expansion of supply chain networks and manufacturing capacities.
In Asia Pacific, meat consumption is rising as a result of rising economic levels and the ever-increasing population. It is predicted that rising livestock farming methods in China, Japan, India, and other South East Asian nations would increase demand for compound feed. Also, the growing emphasis on producing healthier cattle is anticipated to boost market expansion in the Asia Pacific region.
Key Takeaways from Compound Feed Market Report:
- The mash segment is projected to clock a modest CAGR of 4.6% from 2023 to 2033.
- In 2018, the global market size stood at nearly US$ 335.42 billion.
- In 2022, the market accounted for a worth of US$ 400 billion.
- The cereal segment is likely to account for a revenue of nearly US$ 283 billion by 2033.
- Asia Pacific is anticipated to generate a revenue of approximately US$ 280 billion by 2033.
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Recent Developments Observed:
- Precision Livestock Analytics, a provider of livestock data analytics, was acquired by Cargill in June 2021. The acquisition is intended to assist livestock farmers in enhancing the health and growth of their animals.
- In May 2021, DSM purchased First Choice Ingredients. The goal of this acquisition is to strengthen the company's range of ingredient solutions.
- In April 2021, Alltech acquired Solbiosur, a significant Argentine provider of animal feed. The acquisition intends to increase the company's market share in South America.
- Sojaprotein, a top European manufacturer of plant-based protein components, was acquistion by ADM in March 2021.
Key Companies Profiled:
- ForFarmers
- Archer Daniels Midland Company (ADM)
- Cargill Incorporated
- Alltech
- Roquette
- Charoen Pokphand Group
- Land O’ Lakes
- Guangdong Haid Group
- Feed One Co.
- Indian Broiler Group Pvt. Ltd.
- Kent Nutrition Group
Market Segmentation:
By Ingredients
- Compound Feed in Cereals
- Compound Feed in Cakes & Meal
- Compound Feed in Animal By-Products
- Compound Feed in Additives
- Compound Feed in Supplements {Vitamins, Enzymes, Acidifiers, Amino acids, Probiotics & Prebiotics}
By Form
- Compound Feed in Pellets
- Compound Feed in Mash
- Compound Feed in Crumbled
By Livestock:
- Compound Feed in Poultry {Broilers, Layers, Breeders}
- Compound Feed in Ruminants
- Compound Feed in Swine
- Compound Feed in Aquaculture
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Table of Content (ToC):
1. Executive Summary | Compound 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
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Explore FMI’s related ongoing Coverage in Food and Beverage Domain:
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Fish Feed Market Share: The fish feed market is estimated to account for about US$ 112 billion in 2022 and is projected to reach a value of about US$ 158.5 billion by 2032, at a CAGR of 8.0%.
Animal Feed Additives Market Trends: 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. The sales of animal feed additives are anticipated to expand at a significant CAGR of 2.0% during the forecast period.
Feed Premix Market Growth: The Feed Premix market is valued at US$ 8.3 Billion in 2022 and is projected to grow at a CAGR of 3.3% during the forecast period, to reach a value of US$ 11.5 Billion by 2032.
Poultry Feed Market Forecast: 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.
Mineral Feed Market Types: The Mineral Feed market is valued at US$ 4.1 Billion in 2022 and is projected to grow at a CAGR of 3.9% during the forecast period, to reach a value of US$ 6.2 Billion by 2032.
Feed Flavors Market Analysis: The Feed Flavor market is expected to grow at a CAGR of 5.1%. The market value projected to increase is from US$ 2,912.9 Million in 2022 to US$ 4,790.2 Million by 2032.
Plant-based Fish Feed Market Outlook: The plant-based fish feed market is valued at US$ 6.8 Billion in 2021. It is set to grow at 6% CAGR through 2032 at a value of US$ 12.2 Billion.
Aquafeed Market Overview: The global aquafeed market is expected to increase at a CAGR of 6.1% through 2032. The market value is projected to expand from US$ 44.7 Billion in 2022 to US$ 80.9 Billion by 2032.
Feed Phosphate Market Demand: The global feed phosphate market is projected to achieve a value of US$ 3.61 billion in 2023 and US$ 4.84 billion by 2033, expanding at a CAGR of 4% from 2023 to 2033.
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