Dublin, July 10, 2024 (GLOBE NEWSWIRE) -- The "United States Animal Feed Market - Forecasts from 2024 to 2029" report has been added to ResearchAndMarkets.com's offering.
The United States animal feed market is evaluated at US$59.234 billion for the year 2022 growing at a CAGR of 4.24% reaching the market size of US$79.193 billion by the year 2029
United States is one of the largest feed and livestock industries in the world with more than 5,800 animal feed manufacturing facilities in the region and a production figure of more than 284 million tons of finished feed and pet food each year, as reported by the AFIA (American Feed Industry Association) as of 2021. According to data from the USDA (United States Department of Agriculture), livestock and poultry account for more than half of US agricultural cash receipts, often exceeding a sum of $100 billion per year. 
According to the UN FAO(Food and Agriculture Organization), the global food production will increase by more than 60% by 2050. As a result, animal-based protein production is expected to rise in sync with it. Also according to the FAO, between the time period 2020 and 2050, this rise will be around 1.7 percent annually. This factor is thus projected to show an effect in the region of the US as well.
Growing demand for livestock products bolsters the market growth
It is expected that the market growth for livestock as well as livestock products, like meat, dairy, and eggs has helped in fuelling the expansion of US animal feed market production and the exports of animal feed among many of the biggest animal feed companies in the country. The growing awareness among dairy producers regarding the safety of animal feed and items is also projected to propel US animal feed market growth.
With the emphasis laid by the government and international organizations such as the Food and Agricultural Organization on ensuring the health and safety of animal-based- based foods for human consumption, the animal feed market in the United States is expected to experience robust growth.
Booming meat production
The meat production is projected to rise by almost 70%, seafood products by about 90%, and dairy products by approximately 55%. The IFIF further predicted that poultry, pig, and beef production will almost double by 2050, while dairy and fish production will triple. This would be because of the increased consumption of animal proteins, which would accelerate the animal feed sector's growth.
Since the feed industry is expected to be the largest factor in ensuring long-term progress in animal husbandry, every boost in animal protein production mandates substantial growth in animal feed production to attain sustainable animal production and since the US is a leading market in the sector, major growth is expected for the region in the forecasted period.
Key Developments
- March 2023:International Flavors & Fragrances launched feed solution "Axtra PRIME" for piglets in the United States. An enzyme blend consisting mixture of beta-glucanase, alpha-amylase, beta-glucanase, and alpha-amylase, the "Axtra PRIME" is specifically designed to tackle digestibility challenges faced by swine during their early stage.
- January 2023:Cargill and BASF announced the extension of their partnership and added US to their feed enzymes development & distribution agreement, which would enable US animal feed customers to have access to a wide range of enzyme-based solutions.
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 88 |
| Forecast Period | 2022 - 2029 |
| Estimated Market Value (USD) in 2022 | $59.23 Billion |
| Forecasted Market Value (USD) by 2029 | $79.19 Billion |
| Compound Annual Growth Rate | 4.2% |
| Regions Covered | United States |
Company Profiles
- Cargill Incorporated
- Ingredion Incorporated
- BASF SE
- Alltech
- Archer Daniels Midland Company
- DSM
Segmentation:
By Type
- Fodder
- Forage
- Compound Feed
By Livestock
- Swine
- Aquatic Animal
- Cattle
- Poultry
- Others
By Raw Materials
- Soya
- Canola
- Rendered Meal
- Others
By Production System
- Integrated
- Commercial Mills
For more information about this report visit https://www.researchandmarkets.com/r/97qa03
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