NEWARK, Del, April 29, 2024 (GLOBE NEWSWIRE) -- As per Future Market Insights, the global feed mixer market value is projected to total US$ 789.8 million in 2024 and US$ 1205.0 million by 2034. Global demand is forecast to rise at a CAGR of 4.3% throughout the forecast period.
Vertical feed mixers remain popular products owing to their lower cost, smaller footprint, and versatility. They generated around 65% of the market revenue in 2023 and their demand is set to grow at 4.1% CAGR over the next ten years.
The global feed mixer market is witnessing steady growth due to a combination of factors. These include booming livestock industry, growing demand for high-quality feed, and high adoption of advanced feed mixing technologies in farms and feed factories.
As the demand for livestock products continues to grow amid population growth, farmers are seeking high-quality feed. This will play a key role in fueling sales of feed mixers as they allow for the precise mixing of feed ingredients to create a balanced feed for specific animal requirements.
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Escalating interest in precision feeding is another key factor anticipated to propel the demand for feed mixers during the assessment period. Subsequently, a growing focus on improving animal health, enhancing productivity, and reducing costs will encourage the adoption of feed mixers.
Key players are focusing on developing novel feed mixing technologies with enhanced accuracy, efficiency, and productivity. This will further boost market growth during the assessment period.
Key Takeaways from the Feed Mixer Market Report:
- The global feed mixer industry is estimated to total US$ 1205.0 million in 2034.
- By product type, vertical segment dominated the market with a value share of 65% in 2023.
- Based on capacity, the 10 to 20 ^3 M segment will record a CAGR of 3.8% through 2034.
- Sales in the United States are set to total US$ 214.7 million in 2034.
- Japan is poised to register a CAGR of 5.9% between 2024 and 2034.
“Escalating demand for animal proteins and increasing interest in precision animal nutrition are prominent factors impacting the growth of the global feed mixer industry,” Says Nikhil Kaitwade (Associate Vice President at Future Market Insights, Inc.).
Who is Winning?
Bucher Industries AG, Alltech, BVL Maschinenfabrik GmbH & Co. KG, Faresin Industries S.p.A, Hi-Tech Industries Inc., and Lachish Industries Ltd. are a few leading feed mixer manufacturers and suppliers listed in the report. These companies are concentrating on constantly introducing new products into the market to boost their sales.
Several players are also looking to develop affordable feed mixing solutions to address the initial investment barrier for smaller farms. Similarly, strategies like partnerships, distribution agreements, exhibitions, and acquisitions are becoming popular as companies look to strengthen their presence.
Recent Development:
- In October 2023, Italy-based FARESIN Industries introduced a new self-propelled electric mixer for animal husbandry.
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Market Segmentation of Feed Mixers
By Product Type:
- Vertical
- Horizontal
By Portability:
- Self-Propelled
- Pull
- Stationary
By Capacity:
- <10 ^3 M
- 10 to 20 ^3 M
- >20 ^3 M
By Application:
- Farms
- Feed Factory
By Region:
- North America
- Latin America
- Europe
- East Asia
- South Asia
- Middle East & Africa
Authored By:
Nikhil Kaitwade (Associate Vice President at Future Market Insights, Inc.) has over a decade of experience in market research and business consulting. He has successfully delivered 1500+ client assignments, predominantly in Automotive, Chemicals, Industrial Equipment, Oil & Gas, and Service industries.
His core competency circles around developing research methodology, creating a unique analysis framework, statistical data models for pricing analysis, competition mapping, and market feasibility analysis. His expertise also extends wide and beyond analysis, advising clients on identifying growth potential in established and niche market segments, investment/divestment decisions, and market entry decision-making.
Nikhil holds an MBA degree in Marketing and IT and a Graduate in Mechanical Engineering. Nikhil has authored several publications and quoted in journals like EMS Now, EPR Magazine, and EE Times.
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