Global Animal Feed Market Size, Segmentation, Trends and Growth Analysis Forecast by 2030

Animal Feed Market Overview:

The animal feed market is expected to grow at a CAGR of 3.96% over the forecast period, 2022-2030, and registering USD 387.384 billion in 2022.

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Animal feed refers to specially formulated food given to animals, including livestock and pets, to provide essential nutrients for their growth, maintenance, and overall health. It serves as the primary source of proteins, carbohydrates, fats, vitamins, and minerals required for proper development and reproduction. It comes in various forms, such as grains, forage, protein sources, fats, mineral supplements, and vitamins.

The composition of animal feed is tailored to meet the specific dietary needs of different animals at various life stages. Providing balanced and nutritious feed is vital for the well-being and productivity of animals, supporting industries such as agriculture and livestock farming. Ensuring the quality and safety of animal feed production is essential to sustain animal health and the overall food supply chain.

Animal Feed Latest trends:

With a rising interest in plant-based and insect-based proteins, the animal nutrition sector is exploring innovative ways to incorporate these alternative protein sources into animal diets, reducing the reliance on traditional animal-derived proteins.

Market Segmentation: The Global Animal Feed Market By Product (Cereal Grains, Protein Meals, Milk Replacer, Feed Additives, Others) By Animal Type (Ruminants, Swine, Poultry, Aquaculture, Pets, Equine, Others) Mode of Delivery (Premixes, Oral Powder, Oral Solutions) End User (Feed Manufacturers, Contract Manufacturers, Livestock Producers, Others) Geography (North America, Europe, Asia-Pacific, Middle East, Africa, South America) The report offers market size and forecasts in value (in USD million) for all the above-mentioned segments.

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Market Drivers:

Modernization and Growth of the Aquaculture and Livestock Feed Sectors

The modernization and growth of the aquaculture and livestock feed sectors play a crucial role in driving market growth. The demand for animal protein is steadily increasing, leading to a surge in aquaculture and livestock production as the global population continues to grow. These industries heavily rely on nutritious and efficient animal feed to optimize productivity and meet the escalating demands.

Increasing Investments in R&D

Increasing investment in R&D serves as a potent opportunity for the market. R&D efforts focus on enhancing the quality, efficiency, and sustainability of animal feed and nutrition. Improved nutrition and feed efficiency lead to healthier animals and reduced costs for farmers and producers. Research also identifies additives that promote animal health and welfare, ensuring higher productivity.

Market Restraints:

Low-Quality Counterfeit Products

The availability of low-quality counterfeit products of animal nutrition in the market may restrict the market growth. The consumption of the low-quality imitated product could lead to health problems in animals such as increased toxicity, infertility, compromised immunity, and others which can directly impact the production of livestock. The studies have also shown that feeding poor-quality protein sources to animals will offset the concentration of dietary protein and may lead to health-related issues in animals. The availability of low-quality and cheap imitated animal nutrition products in the market makes it hard for other manufacturers to grow in the market.

Segmental Analysis:

Protein Meals Segment is Expected to Witness Significant Growth Over the Forecast Period

A high-protein diet is a diet in which 20% or more of the total daily calories come from protein. Most high-protein diets are high in saturated fat and severely restrict the intake of carbohydrates. Example foods in a high-protein diet include lean beef, chicken or poultry, pork, salmon and tuna, eggs, and soy. Furthermore, the recent developments are fueling the growth of the studied market.

For instance, in August 2021, Arla Foods Ingredients launched MicelPure, a micellar casein isolate, in the market. The new micellar casein isolate contains a minimum of 87% native protein, is low in lactose and fat, is heat-stable, and has a neutral taste. It is majorly used in RTD beverages, high-protein beverages, and powder shakes.

The Poultry Segment is Expected to Witness Significant Growth Over the Forecast Period

The high consumption of poultry products globally and the developments by the key major players are contributing to the studied market growth. Tyson Foods has announced the expansion of its Caseyville Prepared Foods Facility. The USD180 million investment project will help meet the growing demand for Tyson Foods’ iconic Hillshire Farm and Jimmy Dean branded products. The first line is expected to begin production this fall with the expansion set to be completed in the summer of 2023.

The Caseyville plant currently produces Hillshire Farm and Jimmy Dean products and the 170,000 square foot expansion will specifically allow a larger production of grab-n-go snacking and breakfast items. Thus, such developments are contributing to the studied segment growth.

Oral Animal feed Segment is Expected to Witness Significant growth Over the Forecast Period.

Oral animal feed is one of the oral routes to administer veterinary medicinal products to animals and is generally used to treat animal diseases in large groups of animals, in particular pigs and poultry.

Livestock Producer Segment is Expected to Witness significant growth Over the Forecast Period

Livestock agriculture is concerned with raising and maintaining livestock, primarily for the purposes of producing meat, milk, and eggs. Livestock agriculture also includes wool and leather production and may include animals kept for recreation (riding or racing) and drafting. The growth of the market can be attributed to the upsurge in cattle population, coupled with the growing adoption of livestock monitoring technology. Furthermore, these monitoring systems are gaining popularity as there is substantial cost-saving associated with the livestock producer segment.

North American region is Expected to Witness significant growth

North America region is expected to witness significant growth due to technological developments, coupled with the increased internet penetration in these regions. The prevalence of zoonotic diseases has fueled the demand for technology to monitor sick animals, which is anticipated to drive the North American market. Furthermore, in November 2022, Alltech, a global leader in the agriculture industry for more than 40 years, is proud to introduce Egalis, a new range of high-quality silage inoculants that maximize nutrient quality, increase forage stability and reduce dry matter loss to help maintain optimal animal performance. Such developments are fueling the market’s growth in the region

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Animal Feed Market Competitive Landscape:

The leading companies focused on the expansion of the business across regions and setting up a new plant for increasing production capacity as well as a product line. The companies are also increasing the production capacities of their existing plants. Some of the leading players in the market are :

Key Players :

• Cargil
• Incorporated
• Alltech Inc.
• ABN
• Midland Feeds
• ForFarmers.

Recent Developments:

1) In June 2023: MidOcean Partners, a premier New York-based alternative asset manager specializing in middle-market private equity and alternative credit investments, today announced that it has acquired QualiTech, a renowned, family-owned global manufacturer of plant nutrition, animal nutrition, and food ingredient products and services. The transaction, which transfers ownership of the company to MidOcean from the Ploen family, is designed to pave the way for new investment to expand capabilities and capacity, and to drive new levels of growth. Terms of the transaction were not disclosed.

2) In December 2023: ForFarmers and Boparan (through 2Agriculture) both manufacture and supply chicken and other types of poultry feed in the UK. ForFarmers and Boparan are planning to combine their animal feed milling operations in a joint venture. Between them, the firms operate 19 mills across the UK.

Frequently Asked Questions (FAQ) :

Q1. What is the market size of the Animal Feed Market ?

Q2. Which Region is expected to hold the highest Market share?

Q3. What segments are covered in the Animal Feed Market Report?

Q4. What are the Growth Drivers of the Animal Feed Market ?