The global compound feed market was valued at USD 556.59 billion in 2023 and is projected to grow to USD 583.03 billion in 2024, eventually reaching USD 881.18 billion by 2032, with a compound annual growth rate (CAGR) of 5.30% during the 2024-2032 period. This data is highlighted in a report by Fortune Business Insights titled “Compound Feed Market, 2024-2032.”
According to our expert analysts, animals are raised for various purposes across different countries, such as for meat, milk, and eggs. Compound feed is a nutrient-rich blend of plant and animal ingredients designed to nourish farm animals. Feed manufacturers focus on creating balanced feed formulations that meet the physiological needs of farm animals, enhancing their performance and ensuring safe, economically viable livestock production. The global market is being propelled by factors such as increased animal production, rising consumption of meat and dairy products, and a growing emphasis on animal health and nutrition.
Information Source: https://www.fortunebusinessinsights.com/industry-reports/compound-feed-market-100525
Segments:
Ingredient, Form, Animal Type, and Region are Studied
Based on ingredient, the market is segmented into feed cereals, cakes & meals, animal by-products, and others.
On the basis of form, the market is segregated into solid and liquid.
On the basis of animal type, the market is fragmented into cattle, swine, poultry, aquaculture, and others.
Finally, by geography, the market is divided into North America, Europe, Asia Pacific, South America, and the Middle East & Africa.
Report Coverage:
This report provides a comprehensive analysis of the leading sectors and current market trends, including the impact of COVID-19 as well as the key driving and restraining factors. The market estimates presented in the report are derived from both secondary and primary research, supported by expert in-house reviews. Additionally, the report explores the latest developments and identifies the most profitable segments. It tracks the strategies of key industry players and highlights regional trends, offering readers valuable insights into the critical approaches that drive market growth.
Drivers and Restraints:
Increasing Focus on Animal Health to Stimulate Growth
Livestock farmers in both developing and developed countries are increasingly focused on enhancing the health of farm animals. Healthy livestock play a crucial role in combating hunger, ensuring sustainable food production, and supporting human health. Beyond serving as a food source, animal products also provide a vital source of income for many small farmers and animal owners in developing regions. The quality and safety of animal feed are essential factors in meeting the domestic demand for safe, high-quality animal-derived foods. Proper animal nutrition is vital in the livestock sector, as it contributes to producing nutrient-efficient livestock. Moreover, it enhances the safety and nutritional quality of animal products for human consumption by improving the overall health and wellbeing of farm animals.
Regional Insights:
Asia Pacific holds the largest share of the compound feed market and is expected to remain the leading consumer of feed in the coming years. This dominance is largely due to the region's high levels of animal production and meat consumption, driven by rising incomes. The largest feed consumers in the region are China, India, and Indonesia. The rapid economic growth and increasing wealth in these countries have led to a substantial rise in the consumption of meat, fish, and dairy products.
In terms of market share, North America and Europe are expected to follow Asia Pacific. In North America, the United States is the largest feed market, with strong demand from the poultry and livestock sectors. The U.S. feed market is propelled by high levels of meat production, significant animal production, and sustained demand for meat products.
Competitive Landscape:
Companies Adopt Technologically Advanced Production Techniques to Improve Market Position
Leading firms are focusing on acquiring feed mills and small manufacturing businesses to broaden their presence in both domestic and international markets. Some companies have pursued acquisitions or mergers with foreign producers to extend their geographical reach. Major corporations are concentrating on regional expansion and the establishment of new plants to boost production capacity and diversify their product offerings. Additionally, many are investing in increasing the capacity of their existing facilities.
Industry Development:
- October 2019: Nutreco, a Dutch company, has agreed to buy Cargill's compound feed business in Portugal from the American corporation Cargill, Inc.
List of Key Players Mentioned in the Report:
- Charoen Pokphand Foods PCL – (Bangkok, Thailand)
- New Hope Group – (Chengdu, China)
- Cargill, Inc. – (Minnesota, U.S.)
- Land O’ Lakes – (Minnesota, U.S.)
- Guangdong HAID Group Co., Ltd – (Guangzhou, China)
- BRF – (Sao Paulo, Brazil)
- Tyson Foods, Inc – (Arkansas, U.S.)
- Nutreco – (Amersfoot, Netherlands)
- De Heus Animal Nutrition – (Ede, Netherlands)
- ForFarmers– (Lochem, Netherlands)
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