The starter feed market is projected to exceed US$ 39 billion by 2028; registering at a CAGR of 4.3% from 2022 to 2028, according to a new research study conducted by The Insight Partners.
Rising Demand for Meat and Meat Products is Catalyzing Starter Feed Market
Stater Feed Market Size and Forecasts (2021 - 2031), Global and Regional Growth Opportunity Analysis, and Geography (North America, Europe, Asia Pacific, and South and Central America)
Starter Feed Market Size and Forecasts (2021 - 2031), Global and Regional Share, Trends, and Growth Opportunity Analysis
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Source: The Insight Partners Analysis
Starter feed is an adequate substitute for conventional feed used in poultry farms. These feeds are specially formulated for newly born livestock offspring to improve their overall nutritional intake and reduce the risk of livestock diseases by improving their immune response and digestion. The surging demand for meat and meat products has triggered the need for rearing healthy animals for superior meat quality. In addition to this, the commercialization of poultry farming in emerging economies favors the growth of the starter feed market. According to the Food and Agriculture Organization (FAO), the estimated meat production of the world was 328 million metric tons in 2020. Furthermore, consumer inclination toward protein-rich food and supplement, and rising demand for processed meat products bolster the demand for meat production, thereby contributing to the starter feed market growth. However, stringent government regulations on genetically modified feed ingredients are hampering the market growth. For example, the European Parliament enforced Regulation (EC) No 1830/2003 on genetically modified feed, which mandates the approval of these products before presenting them in the market.
Based on type, the starter feed market is segmented into medicated and non-medicated. The market for the medicated segment is expected to witness significant growth due to the ability of these feeds to strengthen immunity and act as an alternative to vaccines. Diseases such as coccidiosis, which are common in chickens, can be prevented by medicated starter feed. Starter feeds are used to lower the incidences of cervical lymphadenitis caused by streptococci of Group E. However, the starter feed market was notably hit by the COVID-19 pandemic due to disruptions in supply chains, resulting in the shortage and elevated prices of products. Moreover, disrupted supply chains reflected a substantial loss among starter feed manufacturers, resulting in reduced production in 2020.
Cargill, Incorporated; ADM; Alltech; Charoen Pokphand Foods PCL; Nutreco; Roquette Frères; Purina Animal Nutrition LLC; CCPA GROUP; Tyson Foods, Inc.; Godrej Agrovet Limited; and Nutreco N.V are among the key market players profiled during the study. Several other major companies were also studied and analyzed in this research study to get a holistic view of the starter feed market and its ecosystem.
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