Good eats: Demand from key animal production and retail industries will strengthen
Agricultural feed wholesalers distribute animal feed products to animal farmers and retailers, including pet stores and supermarkets. Revenue has increased in recent years because of a growing price of animal feed. Alongside growing feed prices, increased demand from animal farmers has fuelled industry revenue growth as consumers have increased spending. Revenue grew despite the COVID-19 pandemic as demand for animal meat products and feed for pets and other animals remained high. Revenue for Canadian agricultural feed wholesalers is expected to grow at a CAGR of 5.0% to $7.2 billion through the end of 2023, despite a decline of 1.9% in 2023 alone when profit will reach 2.0% of revenue.
This industry comprises enterprises primarily engaged in wholesaling animal feed. Wholesalers of pet food are also included.
This report covers the scope, size, disposition and growth of the industry including the key sensitivities and success factors. Also included are five year industry forecasts, growth rates and an analysis of the industry's key players and their market shares.
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