Dublin, Oct. 13, 2023 (GLOBE NEWSWIRE) -- The "Compound Feed Market by Ingredients (Cereals, Cakes & Meals, By-Products, and Supplements), Form (Mash, Pellets, Crumbles), Livestock (Ruminants, Poultry, Swine, and Aquaculture), Source (Plant-Based and Animal-Based), and Region - Global Forecast to 2028" report has been added to ResearchAndMarkets.com's offering.
The global market for compound feed is estimated to be valued at USD 541.2 Billion in 2023 and is projected to reach USD 668.3 Billion by 2028, at a CAGR of 4.3% during the forecast period.
Plant-based compound feeds are gaining rapid popularity in the compound feed market across the globe.
Consumer demand for animal products derived from animals raised on plant-based feed has seen a significant increase in recent years. There are several reasons behind this trend, including concerns about animal welfare, environmental impact, and personal health. Firstly, consumers are becoming more conscious of the conditions in which animals are raised and the impact of animal agriculture on their well-being.
Plant-based feed is often seen as a more ethical choice because it reduces or eliminates the need for animal by-products, which can come from factory farms or slaughterhouses. By opting for animals raised on plant-based feed, consumers feel that they are supporting more humane and sustainable farming practices. Secondly, the environmental impact of animal agriculture has become a growing concern for many consumers.
Traditional compound feed often contains animal by-products, which can contribute to deforestation, greenhouse gas emissions, and water pollution. In contrast, plant-based feed relies on crops such as soybeans, corn, and wheat, which can be grown in a more controlled and sustainable manner. By choosing animal products from animals raised on plant-based feed, consumers believe they are reducing their carbon footprint and supporting a more environmentally friendly food system. Thus, plant-based feed aligns with these concerns by providing a more sustainable, ethical, and perceived healthier option for raising animals and producing animal-derived products.
Poultry dominated by the livestock segment in the market for compound feed
Poultry, particularly chicken, holds a prominent position in the global meat market due to its high demand and widespread consumption. There are several factors that contribute to the continuous popularity of poultry products, such as meat and eggs. One key factor is affordability. Poultry products, particularly chicken, are often more budget-friendly compared to other meats like beef or seafood. This affordability makes poultry a cost-effective protein source, accessible to a wide range of consumers across various income levels.
As a result, poultry products are frequently chosen as a staple in many households and food establishments, driving the consistent demand for these products. Nutritional value is a significant driver of the demand for poultry products. Poultry meat, including chicken, is renowned for its nutritional composition. It is a rich source of high-quality protein, essential amino acids, vitamins, and minerals. Poultry products are often perceived as healthier alternatives to red meats due to their lower fat content, especially if consumed without the skin. Consumers seeking nutritious and balanced diets recognize poultry as a valuable component, contributing to the consistent demand for poultry products. As a result, the demand for poultry compound feed aligns with the robust demand for poultry products, establishing poultry as a dominant segment in the compound feed market.
The crumbled form of compound feed is projected to have the highest growth during the forecasted year.
Crumbles are easier for animals to consume compared to other forms of feed, such as pellets or mash. This is particularly beneficial for young or small animals that may have difficulty in chewing or swallowing larger feed particles. The crumble form encourages intake and reduces wastage. And also, the enhanced digestibility and uniform nutrient distribution of crumble feed contribute to improved feed conversion efficiency. Animals can extract maximum nutrition from the feed, leading to better weight gain, optimal growth rates, and efficient feed utilization. This can result in cost savings for farmers and improved profitability.
Asia Pacific is projected to witness the highest growth rate during the forecast period
The Asia Pacific region accounts for a significant market in the global market for compound feed in 2022. The country's expanding population is the main force behind the development of the compound feed market. The fact that India is the second most populous nation in Asia also contributes to the rise in food consumption. Over the anticipated years, a combination of an expanding population and rising meat consumption and livestock-based products is anticipated to increase demand for compound feed. As more big companies construct manufacturing facilities in the area as a result of the favorable business environment provided by governments granting tax benefits, industry growth should be boosted. Supportive government programs like "Make in India" and "Made in China 2025" should encourage FDI inflows into the region because of the growth in land production, which will enhance meat production and boost the use of compound feed.
Premium Insights
- Rising Demand for Processed Meat and Animal Products to Fuel Demand for Compound Feed.
- China and Cereals Accounted for Largest Shares in 2022.
- China to Dominate Market During Forecast Period.
- Asia-Pacific and Pellets Segment to Dominate Market During Forecast Period.
Market Dynamics
Drivers
- Surge in Demand for Appropriate Livestock Nutrition.
- Growing Demand for Animal Products for Commercial Use.
- Rising Adoption of Modern Techniques for Livestock Rearing.
- Growth of Organized Livestock Farming in Developing Countries.
Restraints
- Volatile Raw Material Prices for Manufacturing Compound Feed.
- Lack of Awareness About Modern Feeding Methods in Developing Countries.
Opportunities
- Growing Importance of Livestock Feeding Practice in Developing Economies.
- Expanding Market Reach Through International Trade.
Challenges
- Stringent Regulatory Framework.
- Quality Control of Genetic Feed Products Manufactured by Asian Companies.
Companies Mentioned
- Adm
- Alltech
- Anfontal Nutritions Private Limited
- Arasco
- Arivan Agrovet Products
- Bharat Feeds & Extractions Ltd
- Cargill, Incorporated
- Charoen Pokphand Foods Pcl
- De Heus Animal Nutrition
- Elanco Animal Health
- Feed One Co. Ltd
- Forfarmers
- Godrej Agrovet Limited
- Guangdong Haid Group Co. Ltd.
- Hueber Feed, LLC
- Japfa
- Kent Nutrition Group
- Kerala Feeds Ltd
- Land O'Lakes, Inc.
- New Hope Group
- Nor-Feed
- Nutreco
- Nwf Agriculture
- The Cb Group
- Universal Industries
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 238 |
| Forecast Period | 2023 - 2028 |
| Estimated Market Value (USD) in 2023 | $541.2 Billion |
| Forecasted Market Value (USD) by 2028 | $668.3 Billion |
| Compound Annual Growth Rate | 4.3% |
| Regions Covered | Global |
For more information about this report visit https://www.researchandmarkets.com/r/3sqv7k
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