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Animal Feed Market Size By Form (Crumbles, Pellets, Mash, and Others), By Livestock (Aquaculture, Poultry, Ruminants, Swine, and Others), By Type (Probiotics, Acidifiers, Antioxidants, Enzyme, Vitamins, Amino Acids, Minerals, and Others), Regions, Segmentation, and Projection till 2030

CAGR: 3.6%Current Market Size: USD 499.4 BillionFastest Growing Region: North America

Largest Market: APACProjection Time: 2023-2030Base Year: 2022

Global Animal Feed Market- Market Overview:

The global animal feed market is expected to grow from USD 499.4 billion in 2022 to USD 662.7 billion by 2030, at a CAGR of 3.6% during the Projection period 2023-2030. The growth of this market is mainly driven owing to the increasing demand for animal feed to fulfil the nutritional requirements of animals.

Food products for poultry, ruminants, swine, and aquatic animals are referred to as animal feed. In order to produce animal feed, a variety of products with high nutritional values are blended together, including hay, silage, straw, sprouted grains, oils and legumes. As humans become more accustomed to animal-based products, the animal feed market will be driven by a demand for products with high nutritional value. Over the Projection period, dairy products are expected to grow due to their associated health benefits, as well as their wide range of applications. Due to cattle being the primary source of dairy products such as milk, cream, butter, and cheese, which are among others, a sudden increase in cattle farming has been observed in various regions, resulting in an increase in product demand. In addition, the market is expected to continue to grow due to rising consumer spending capacity, extensive research and development (R&D), and favourable government policies that encourage animal feed use. It is expected, however, that raw material prices are going to continue to fluctuate, along with the labelling of fats and oils and safety concerns, which will hamper the growth of the animal feed market over the Projection period. In contrast, the high capital investments required for extraction will hinder growth.

Animal Feed Market- CAGR

Sample Request: - Global Animal Feed Market

Market Dynamics:

Drivers:                          

  • Rising awareness about animals’ health

Animal health is another factor that will drive market growth. Increased cattle farming will almost certainly increase animal feed demand. Humans' growing demand for animal-based products will drive market demand. Moreover, rising awareness among humans about the benefits of using animal feed and feed additives is propelling the growth of the market. Furthermore, the rising number of meat and pork consumers across the globe is also driving market growth.

Restraints:                                             

  • High cost of raw material

Rising awareness among consumers about the benefits of using animal feed is boosting market growth. But on the other hand, the high cost of raw materials used to produce animal feed is obstructing the growth of the market. A combination of high raw material prices, increasing regulatory restrictions and bans will be restraining market growth for animal feed over the Projection period.

Opportunities:

  • Rising awareness about the food safety of animals

Rising concern about the food safety of animals is boosting the growth of the market. The animal feed market is also growing due to an increased understanding of the importance of maintaining a healthy animal diet by farm owners. Because of this, they are shifting from regular animal feed to functional and premium versions that increase immunity to enzootic disease while reducing the risk of metabolic disorders, injuries, and infections.

Challenges:

  • Lack of awareness

The growth of the animal feed market is hampered in the least developed economies due to a lack of awareness among the people about the benefits of animal feed. Most consumers prefer their traditional roughage over animal feed for their animals which is impacting the market growth negatively. Moreover, a lack of awareness about the health of animals is also challenging the market growth.

Segmentation Analysis:

The global animal feed market has been segmented based on form, livestock, type, and region.

By Form

The form segment includes crumbles, pellets, mash, and others. The pellets segment led the largest share of the animal feed market with a market share of around 31% in 2022. A feed pellet is a dense, free-flowing pellet produced by grinding finely ground feed into finely powdered forms. The production of pellets involves a grinding machine to crush maize, soybeans, and other ingredients that are used in animal feed into powdered forms. Furthermore, feed pellets are more easily digested and absorbed by the animals than traditional roughages, and are easier to store and transport than traditional roughages.

Animal Feed Market- By Form

By Livestock

The livestock segment includes aquaculture, poultry, ruminants, swine, and others. The poultry segment led the largest share of the animal feed market with a market share of around 29% in 2022. Farm chickens, geese, and other domestic birds consume poultry feed. In addition to whole maize and cottonseed cake, poultry feeds include maize germ, soya beans, sunflowers, and fish meal as well. A wide range of nutrients, proteins, minerals, vitamins, and soybean oil meal is included in modern poultry feeds, which has fueled market growth and increased the Animal Feed Market worldwide.

By Type

The type segment includes probiotics, acidifiers, antioxidants, enzyme, vitamins, amino acids, minerals, and others. The probiotics segment led the largest share of the animal feed market with a market share of around 29% in 2022. The probiotic bacteria Lactobacillus, Bacillus, Streptococcus, Pediococcus, Enterococcus, Bifidobacterium, and Propionibacterium are most frequently utilised in animal feeds. For maximum potency, most commercially sold probiotics like these are noted to contain multiple species, and some additionally contain fungus and yeast.

Global Animal Feed Market- Sales Analysis.

The sale of animal feed expanded at a CAGR of 3.1% from 2016 to 2022.

In many places around the world, livestock raising and animal consumption play a crucial role in ensuring the economic and nutritional well-being of millions of people. In the global food industry, animal feeds play a leading role, and feed is the largest and most important component of ensuring that animal proteins are safe, abundant and affordable. Growing demand for protein-rich and nutritious animal feeds is expected to occur during the Projection period as livestock and farm animals play a vital role in the global food supply chain.

A major driving force behind the market's growth is an increasing awareness of the health benefits of algae-based ingredients in animal feeds.

On account of cattle being the major source of dairy products such as milk, cream, butter, and cheese, a sudden increase has been observed in cattle farming across various regions, which is one of the leading factors behind the growth of the market.

Thus, owing to the aforementioned factors, the global animal feed market is expected to grow at a CAGR of 3.6% during the Projection period from 2023 to 2030.

By Regional Analysis:

The regions analyzed for the animal feed market include North America, Europe, South America, Asia Pacific, the Middle East, and Africa. The Asia Pacific region dominated the animal feed market and held a 38.5% share of the market revenue in 2022.

  • The Asia Pacific region witnessed a major share. There is a strong trend of dominance in the animal feed market in Asia-Pacific over the Projection period, and it will continue to flourish due to the high consumption of pork in countries like China and Japan, which drives animal feed production in the region. Several animal breeders live in the region, and they need high-quality additives to formulate feed. People's purchasing power has increased and living standards have improved in the region, leading to increased consumption of meat, which directly impacts the market for animal feed.
  • North America is anticipated to experience significant growth during the predicted period. Due to increasing client awareness of the advantages associated with feed additives, North America is expected to have the highest CAGR. It is expected that increased meat consumption, primarily in the U.S., and stringent meat quality regulations will drive the regional market during the Projection period. Moreover, the region is expected to grow faster because raw materials, such as maize and dextrose, are readily available.

Global Animal Feed Market - Country Analysis:

  • Germany

Germany's animal feed market size was valued at USD 37.13 billion in 2021 and is expected to reach USD 49.6 billion by 2029, at a CAGR of 3.7% from 2023 to 2030.

A total of 330 feed mills are operating in Germany, which is supporting the development of the European market. Furthermore, pork and cattle make up more than 65% of the animal feed consumption across Spain, making them the biggest driving force for the Spanish livestock feed industry, resulting in a rise in the consumption of poultry, beef, and other meat products, which in turn drives the country's livestock population. In addition, an increase in awareness of the benefits of animal feed in improving farm animals' diets is causing the demand for animal feed to increase across the nation.

  • China

China’s animal feed market size was valued at USD 49.9 billion in 2021 and is expected to reach USD 67.7 billion by 2029, at a CAGR of 3.9% from 2023 to 2030.

Around 116 million people suffer from diabetes in China at present, making it the country with the largest number of diabetics in the world. China is the largest buyer of low-calorie sweeteners in the Asia-Pacific region and worldwide; this growing use opens up opportunities for low-calorie sweeteners to be positioned as functional products in addressing obesity and cardiovascular disease.

  • India

India's animal feed market size was valued at USD 38.44 billion in 2021 and is expected to reach USD 51.8 billion by 2029, at a CAGR of 3.8% from 2023 to 2030.

In India, animal feeds are primarily driven by the dairy industry, bolstered by the White Revolution 2.0, which has led to a rapid rise in cattle numbers. The cattle population is high, making the Indian animal feed market one of the major markets worldwide. The dairy industry structure is becoming more organized, which will lead to an increase in the demand for commercial cattle feed.

Key Industry Players Analysis:  

To increase their market position in the global animal feed market business, top companies focus on tactics such as adopting new technology, mergers & acquisitions, product developments, collaborations, partnerships, joint ventures, etc.

  • Nutreco N.V
  • Evonik Industries
  • Hansen
  • Cargill
  • Elanco Animal Health
  • Novozymes
  • Adisseo France S.A.S.
  • Prinova Group LLC
  • Novus International Inc.
  • Archer Daniel Midland (ADM)

Latest Development:

  • In March 2020, With the goal of expanding its fish feed product portfolio across North America, Alltech partnered with aqua feed nutrition company Corey Nutrition.
  • In July 2020, an innovative quality control lab will be built at Kemin Industries' headquarters in Des Moines, Iowa, to enhance its innovation and research capabilities.

Report Metrics

Report Attribute 

Details

Study Period

2022-2030

Base year

2022

CAGR (%)

3.6%

Market Size

499.4 billion in 2022

Projection period

2023-2030

Projection unit

Value (USD)

Segments covered

By Form, By Livestock, and By Region.

Report Scope

Revenue Projection, competitive landscape, company ranking, growth factors, and trends

Companies covered

Nutreco N.V, Evonik Industries, Chr. Hansen, Cargill, Elanco Animal Health, Novozymes, Adisseo France S.A.S., Prinova Group LLC, Novus International Inc., and Archer Daniel Midland (ADM).

By Form

  • Crumbles
  • Pellets
  • Mash
  • Others 

By Livestock

  • Aquaculture
  • Poultry
  • Ruminants
  • Swine
  • Others                        

Regional scope

  • North America
  • Europe
  • Asia-Pacific
  • South America
  • Middle East and Africa

Scope of the Report

Global Animal Feed Market by Form:

  • Crumbles
  • Pellets
  • Mash
  • Others

Global Animal Feed Market by Livestock:

  • Aquaculture
  • Poultry
  • Ruminants
  • Swine
  • Others

Global Animal Feed Market by Type:

  • Probiotics
  • Acidifiers
  • Antioxidants
  • Enzyme
  • Vitamins
  • Amino Acids
  • Minerals
  • Others

Global Animal Feed Market by Region:

  • North America
    • USA
    • Canada
    • Mexico
  • Europe
    • Germany
    • France
    • UK
    • Italy
    • Spain
    • Russia
  • Asia-Pacific
    • Japan
    • China
    • India
    • Korea
    • Southeast Asia
  • South America
    • Brazil
    • Peru
  • Middle East and Africa
    • UAE
    • South Africa
    • Saudi Arabia

Frequently Asked Questions

What will be the expected market size of the animal feed market in 2030?

Global animal feed market is expected to reach USD 662.7 billion by 2030, at a CAGR of 3.6% from 2023 to 2030.

What are the driving factors of the animal feed market?

Rising awareness about animal health and rising awareness about the food safety of animals.

Which are the leading market players active in the animal feed market?

Leading players in the animal feed market are Nutreco N.V, Evonik Industries, Chr. Hansen, Cargill, Elanco Animal Health, Novozymes, Adisseo France S.A.S., Prinova Group LLC, Novus International Inc., Archer Daniel Midland (ADM), among others

Which region will witness more growth in the animal feed market?

Asia Pacific region will witness more growth in the animal feed market.