Quick Summary:
In the rapidly expanding global market for compound feed, staying ahead of trends and understanding the future projections can be the difference between simply staying afloat and taking the lead in your industry. Capitalizing on the steadily increasing consumer demand for food due to the growing population, businesses are seeking efficient ways to provide animals with correct and balanced nutrition. Compound feed has emerged as a clear solution for promoting animal health, productivity, and reducing disease risk. This comprehensive market research report provides an in-depth analysis of the compound feed industry, equipping you with all the important insights needed to make strategic business decisions.
This report throws light on the burgeoning popularity of plant-based compound feeds in response to increasing concerns about animal welfare, environmental implications, and personal health. It also explores the dominant role poultry plays in the livestock segment and the projected growth in demand for the crumbled form of compound feed. The document delves into the anticipated high growth rate of the Asia Pacific region and gives a succinct picture of the demographic profile of key market stakeholders. In conclusion, it brings insights on key industry players, emerging startups, and strategies used by successful businesses in the compound feed market. This research report is your guide to unlocking new opportunities and forging ahead in the compound feed industry.
Growing Demand for Animal Products for Commercial Use
The global market for compound feed is estimated to be valued at USD 541.2 Billion in 2023 and is projected to reach USD 668.3 Billion by 2028, at a CAGR of 4.3% during the forecast period. The world's population is expected to grow by more than 9.7 billion by 2050, according to IMF. The world's population is steadily increasing, which leads to higher demand for food, including meat, dairy, and poultry products. Compound feed is an efficient way to provide essential nutrients to livestock and improve their growth and productivity. There is also a growing awareness of the importance of animal health and nutrition in ensuring the quality of animal products. Compound feed plays a crucial role in providing balanced nutrition to livestock, promoting their overall health, and reducing the risk of diseases. This increased focus on animal welfare and product quality has contributed to the expansion of the compound feed market.
Plant-based compound feeds are gaining rapid popularity in the compound feed market across the globe.
Consumer demand for animal products derived from animals raised on plant-based feed has seen a significant increase in recent years. There are several reasons behind this trend, including concerns about animal welfare, environmental impact, and personal health. Firstly, consumers are becoming more conscious of the conditions in which animals are raised and the impact of animal agriculture on their well-being. Plant-based feed is often seen as a more ethical choice because it reduces or eliminates the need for animal by-products, which can come from factory farms or slaughterhouses. By opting for animals raised on plant-based feed, consumers feel that they are supporting more humane and sustainable farming practices. Secondly, the environmental impact of animal agriculture has become a growing concern for many consumers. Traditional compound feed often contains animal by-products, which can contribute to deforestation, greenhouse gas emissions, and water pollution. In contrast, plant-based feed relies on crops such as soybeans, corn, and wheat, which can be grown in a more controlled and sustainable manner. By choosing animal products from animals raised on plant-based feed, consumers believe they are reducing their carbon footprint and supporting a more environmentally friendly food system. Thus, plant-based feed aligns with these concerns by providing a more sustainable, ethical, and perceived healthier option for raising animals and producing animal-derived products.
Poultry dominated by the livestock segment in the market for compound feed
Poultry, particularly chicken, holds a prominent position in the global meat market due to its high demand and widespread consumption. There are several factors that contribute to the continuous popularity of poultry products, such as meat and eggs. One key factor is affordability. Poultry products, particularly chicken, are often more budget-friendly compared to other meats like beef or seafood. This affordability makes poultry a cost-effective protein source, accessible to a wide range of consumers across various income levels. As a result, poultry products are frequently chosen as a staple in many households and food establishments, driving the consistent demand for these products. Nutritional value is a significant driver of the demand for poultry products. Poultry meat, including chicken, is renowned for its nutritional composition. It is a rich source of high-quality protein, essential amino acids, vitamins, and minerals. Poultry products are often perceived as healthier alternatives to red meats due to their lower fat content, especially if consumed without the skin. Consumers seeking nutritious and balanced diets recognize poultry as a valuable component, contributing to the consistent demand for poultry products. As a result, the demand for poultry compound feed aligns with the robust demand for poultry products, establishing poultry as a dominant segment in the compound feed market.
The crumbled form of compound feed is projected to have the highest growth during the forecasted year.
Crumbles are easier for animals to consume compared to other forms of feed, such as pellets or mash. This is particularly beneficial for young or small animals that may have difficulty in chewing or swallowing larger feed particles. The crumble form encourages intake and reduces wastage. And also, the enhanced digestibility and uniform nutrient distribution of crumble feed contribute to improved feed conversion efficiency. Animals can extract maximum nutrition from the feed, leading to better weight gain, optimal growth rates, and efficient feed utilization. This can result in cost savings for farmers and improved profitability.
Asia Pacific is projected to witness the highest growth rate during the forecast period
The Asia Pacific region accounts for a significant market in the global market for compound feed in 2022. The country's expanding population is the main force behind the development of the compound feed market. The fact that India is the second most populous nation in Asia also contributes to the rise in food consumption. Over the anticipated years, a combination of an expanding population and rising meat consumption and livestock-based products is anticipated to increase demand for compound feed. As more big companies construct manufacturing facilities in the area as a result of the favorable business environment provided by governments granting tax benefits, industry growth should be boosted. Supportive government programs like "Make in India" and "Made in China 2025" should encourage FDI inflows into the region because of the growth in land production, which will enhance meat production and boost the use of compound feed.
The break-up of the profile of primary participants in the compound feed market:
- By Company Type: Tier 1: 30%, Tier 2: 45%, Tier 3: 25%.
- By Designation: CXOs - 15%, Managers - 50%, and Executives- 35%
- By Region: North America - 25%, Europe - 25%, Asia Pacific -40%, RoW - 10%
Prominent companies include Cargill, Inc. (US), ADM (US), Charoen Pokphand Foods (Thailand), New Hope Group (China), Land O’Lakes (US), Nutreco N.V. (Netherlands), Alltech, Inc. (US), Guangdong Haid Group Co., Ltd (China), Weston Milling Group (Australia), Feed One Co. (Japan) and others.
Research Coverage:
This research report categorizes the compound feed by ingredient (cereals, cakes & meals, by-products, and supplements). form (mash, pellets, crumbles), livestock (ruminants, poultry, swine, and aquaculture), source (plant-based and animal-based), and region (North America, Europe, Asia Pacific, South America, RoW). The scope of the report covers detailed information regarding the major factors, such as drivers, restraints, challenges, and opportunities, influencing the growth of the compound feed market. A detailed analysis of the key industry players has been done to provide insights into their business overview, products and services; key strategies; contracts, partnerships, and agreements. New product & service launches, mergers and acquisitions, and recent developments associated with the compound feed market. Competitive analysis of upcoming startups in the compound feed market ecosystem is covered in this report.
Reasons to buy this report:
The report will help the market leaders/new entrants in this market with information on the closest approximations of the revenue numbers for the overall compound feed market and the subsegments. This report will help stakeholders understand the competitive landscape and gain more insights to position their businesses better and to plan suitable go-to-market strategies. The report also helps stakeholders understand the pulse of the market and provides them with information on key market drivers, restraints, challenges, and opportunities.
The report provides insights on the following pointers:
- Analysis of key drivers (Surge in demand for appropriate livestock nutrition), restraints (Volatile raw material prices for manufacturing of compound feed), opportunities (Growing importance of livestock feeding practice in developing economies), and challenges (Stringent regulatory framework) influencing the growth of the compound feed market.
- Product Development/Innovation: Detailed insights on research & development activities and new product & service launches in the compound feed market.
- Market Development: Comprehensive information about lucrative markets - the report analyses the compound feed market across varied regions.
- Market Diversification: Exhaustive information about new products, untapped geographies, recent developments, and investments in the compound feed market.
- Competitive Assessment: In-depth assessment of market shares, growth strategies, and service offerings of leading players Cargill, Inc. (US), ADM (US), Charoen Pokphand Foods (Thailand), New Hope Group (China), and Land O’Lakes (US), among others in the compound feed market strategies.
What is the estimated value of the Global Compound Feed Market?
What is the growth rate of the Global Compound Feed Market?
What is the forecasted size of the Global Compound Feed Market?
Who are the key companies in the Global Compound Feed Market?
| Report Attribute | Details |
|---|---|
| No. of Pages | 238 |
| Published | June 2023 |
| Forecast Period | 2023 - 2028 |
| Estimated Market Value ( USD | $ 541.2 Billion |
| Forecasted Market Value ( USD | $ 668.3 Billion |
| Compound Annual Growth Rate | 4.3% |
| Regions Covered | Global |
| No. of Companies Mentioned | 25 |
Table of Contents
Executive Summary
Companies Mentioned
- Adm
- Alltech
- Anfontal Nutritions Private Limited
- Arasco
- Arivan Agrovet Products
- Bharat Feeds & Extractions Ltd
- Cargill, Incorporated
- Charoen Pokphand Foods Pcl
- De Heus Animal Nutrition
- Elanco Animal Health
- Feed One Co. Ltd
- Forfarmers
- Godrej Agrovet Limited
- Guangdong Haid Group Co. Ltd.
- Hueber Feed, LLC
- Japfa
- Kent Nutrition Group
- Kerala Feeds Ltd
- Land O’Lakes, Inc.
- New Hope Group
- Nor-Feed
- Nutreco
- Nwf Agriculture
- The Cb Group
- Universal Industries
Methodology
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