Publication Month: Jun 2020 | Report Code: TIPRE00010192 | No. of Pages: 161 | Category: Food and Beverages | Status: Published
Animal feed is basically food items prepared for the consumption of livestock or poultry. These products are carefully produced and blended with several nutritional ingredients, which are essential to maintain the good health of animals. Some of the common feeds mostly include pasture grasses, cereal grains, hay & silage crops, and other by-products of food crops, including pineapple bran, brewers' grains, also sugar beet pulp. The animal feed industry mostly encompasses various sectors like cattle, poultry, and aquaculture.
The studied market in the North America region is expected to grow at the highest CAGR of 3.6% during the forecast period. The growth of the animal feed market in this region is mainly attributed to the huge and easy availability of raw materials required to produce animal feed. Transforming lifestyle and growing awareness of the consumers towards the health issue related to animals has significantly influenced the animal feed market in North America. With an increasing focus on animal health, the demand for animal feed in the region has increased substantially. The growing concern towards maintaining the health of animals with the rapid rise in animal farming and surging product innovations are some factors that are leading to an increase in demand for animal feed in the North American countries. All these factors are further propelling the market growth in this region.
As of July 2021, the US, India, Brazil, Russia, Spain, France, the UK, Turkey, and Italy, were some of the worst affected countries in terms of confirmed cases and reported deaths. The COVID-19 is affecting economies and several industries in different countries due to lockdowns, travel bans, and business shutdowns. The shutdown of various manufacturing plants and factories has affected the global supply chains and also negatively impacted the manufacturing, delivery schedules, and sales of goods in the global market. In addition, the global travel bans further imposed by countries in Europe, Asia-Pacific, and North America are also affecting business collaborations as well as partnership opportunities.
Due to the Covid-19 pandemic, the food and beverage industry is also facing huge losses, which is further impacting the world economy. It has further disrupted the transportation system and disrupted the supply of raw materials. The disruptive value chain has had a negative impact on the raw material supply, which, in turn, is impacting the growth of the animal feed market. However, as the economies are planning to revive their operations, the demand for animal feed is presumed to rise since consumers are buying products through online retailers. In addition, the animal feed manufacturing companies are also taking some safety measures to fight the coronavirus, which include limiting direct contact with delivery persons & visitors, strengthening & communicating proper hygiene practices, and conducting complete sanitations & eliminating personnel contact during shift changes. With all these factors, it can be presumed that in post-pandemic times, the demand for these products will take a hike.
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The industrialization of animal farming has mainly led to a rise in demand for protein-rich animal feed ingredients, which has also increased the feed conversion rate. Industrially farmed livestock are chiefly fed on concentrates prepared from cereal & vegetable protein, including soybean meals, mainly to assist them in gaining weight also to produce protein-rich meat. Farm animals mainly depend on proteins as well as other elements as the building blocks essential for good growth. Proteins in animal feeds are an excellent source of energy, minerals such as calcium & phosphorus, and essential amino acids including lysine & methionine. The growing awareness towards the health benefits of proteins on animal health has further created substantial demand for protein feeds, including animal protein meals, fish meals, bone meals, feather meals, blood meals, and other protein meals & feeds. As livestock and farm animals highly contribute to the global food supply chain, the demand for protein-rich and nutritious animal feeds is presumed to grow in the forecast period. The constantly burgeoning demand for protein-rich animal feeds to promote growth in livestock at all stages of life is anticipated to drive the overall animal feed market.
Based on form, the global animal feed market is segmented into pellets, crumbles, mash, and others. In 2018, the pellets segment dominated the animal feed market. Livestock, including cattle, cows, pigs, camels, sheep, deer, rabbit, alpaca, etc., are grown for their meat, leather, fur, milk, eggs, and wool. Many of this livestock can further be fed with pellet form of feed because feed pellets include higher nutrition density, more comprehensive nutrition, and higher economic benefits. These pallets can also be digested, absorbed, plus conserved better by these animals and also they are easier to store & transport compared to traditional roughage. Generally, livestock feed pellets have four types, including pure forage (grass) feed pellets, concentrated feed pellets, complete diet feed pellets, and premix feed pellets. Feed pallets can be produced by utilizing a grinding machine that can crush the maize & soya bean meal or other ingredients into a fine powder; then, the fine powder can further mix with the wheat bran, bone meal, microelement, vitamin, and other raw materials to make the complete feed mesh.
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The animal feed market, based on livestock, is segmented into poultry, ruminants, swine, aquaculture, and others. Poultry segment held the largest share in 2018. Poultry is domesticated birds utilized for farming by humans for their eggs & their meat. These birds typically belong to the members of the superorder Galloanserae, including chickens, duck, geese, quails, turkeys, and others. Poultry feed is basically food for farm poultry, including ducks, geese, chickens, and other domestic birds. The common ingredients utilized in poultry feed are whole maize, maize germ, soya beans, cottonseed cake, sunflower, or fish meal. In addition to that, farmers add several feed additives such as micronutrients, minerals, and vitamins to ensure their chicken has a balanced feed that meets their daily nutrient requirements. Since farming became more specialized, many farmers prefer to provide nutritionally complete poultry feed to the poultry. Modern poultry feeds are mainly prepared of grain, protein supplements like soybean oil meal, mineral supplements, as well as vitamin supplements.
|Market Size Value in||US$ 406,640.10 Million in 2018|
|Market Size Value by||US$ 548,936.55 Million by 2027|
|Growth rate||CAGR of 3.3% from 2019-2027|
|No. of Pages||161|
|No. of Tables||52|
|No. of Charts & Figures||72|
|Historical data available||Yes|
|Segments covered||Form ; Livestock ; and Geography|
|Regional scope||North America, Europe, Asia Pacific, Middle East & Africa, South & Central America|
|Country scope||US, Canada, Mexico, UK, Germany, Spain, Italy, France, India, China, Japan, South Korea, Australia, UAE, Saudi Arabia, South Africa, Brazil, Argentina|
|Report coverage||Revenue forecast, company ranking, competitive landscape, growth factors, and trends|
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Mergers and acquisitions, and research and development are the commonly adopted strategies by companies to expand their footprints worldwide, which is further impacting the size of the market. The players present in the animal feed market have been implementing the abovementioned strategies to expand their customer base and gain significant share in the global market, which also enables them to maintain their brand name globally.
The List of Companies - Animal Feed Market