Animal feeds are referred as nutritious food with high levels of proteins, minerals and vitamins given to the livestock, aquatic and farm animals. It is mainly consumed by the domestic animals in the animal husbandry in form of fodder, pelleted feeds, oilseeds, and grains. Animal feeds are the important source of foods for animals as it helps them in enhancing animal’s abilities by providing enriched nutrients which accelerates growth, weight gain and develops strong immunity. Most significant used food ingredients include proteins, vitamins and every other nutritional factor in balanced state to help their growth process. Rapid urbanization and growing consumption of meat and other end products for animal feeds are driving the animal feed market around different opportunities.
According to the research report “Global Animal Feed Market Outlook, 2027" published by Actual Market Research, the demand of animal based feed products or meat based products is gaining importance among animal feed market because they are very effectively essential in providing animals complete source of protein with all essential amino acids, highly bioavailable iron, zinc, selenium and especially vitamin B12. Global Animal Feed Market has estimated to grow with CAGR of 2.90% during the forecast period. The demand for high quality proteins among animals are going to rise across globe. With many advancements taking place in technologies, producers need to manage their time effectively and efficiently in order to meet increased protein requirements of animals, which they get out of feed. This in turn is continuously raising demand for meat sourced products among animals.
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The Asia-Pacific Region is currently the largest market sharing region in the Animal Feed Market holding more than 1/3rd of total market. China is the only reason behind Asia-pacific region at top. China is one of the largest feed manufacturers in the world accounting for half of the production in APAC region. The market here for animal feed is growing due to increasing demand for dairy products, also growing proclivity towards animal based food, and increase in feed demand all around the globe.
China is the biggest player in the world leading in Animal feed market. Due to covid-19 pandemic, China has faced disruptions for producing organic feed. Many feed producers in china have faced stringent measures imposed to curb covid-19 pandemic. The measures were mainly imposed on supply of containers which led stoppage to overall transport systems. In 2020, approximately 65% of the net annual production of wheat, corn and soybean has been consumed by animal feeds, whereas the rest 35% was used for food consumption.
South Africa holds the highest market share in Middle East and Africa animal feed market . The growing popularity of pig feed is rising with growing awareness of populations and even the urbanizations are expected to fuel this market expansion. Animal feed market is mainly sourced from two ingredients i.e. Plant based and Animal based. Animal based source is the most demanding source in the forecasted period. Currently, the Asia-Pacific region has dominated the global animalbased feed market and also accounted for the highest market size.
Major Companies present in the market: Cargill Inc., Guangdong Haid Group, Chareon Pokphand Foods, For Farmers, New Hope Liuhe Co Ltd, Archer Daniels Midland Co, Feed One Co, Ltd, Alltech Inc, Nutreco N.V, Kent Nutrition Group
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The approach of the report: This report consists of a combined approach of primary as well as secondary research. Initially, secondary research was used to get an understanding of the market and listing out the companies that are present in the market. The secondary research consists of third party sources such as press releases, annual report of companies, analysing the government generated reports and databases. After gathering the data from secondary sources primary research was conducted by making telephonic interviews with the leading players about how the market is functioning and then conducted trade calls with dealers and distributors of the market. Post this we have started doing primary calls to consumers by equally segmenting consumers in regional aspects, tier aspects, age group, and gender. Once we have primary data with us we have started verifying the details obtained from secondary sources.
Intended audience :
This report can be useful to industry consultants, manufacturers, suppliers, associations & organizations related to Animal Feed Industry, government bodies and other stakeholders to align their market-centric strategies. In addition to marketing & presentations, it will also increase competitive knowledge about the industry
Table of Contents
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