According to Stratistics MRC, the Global Prepared Animal Feed market is expected to grow at a Compound Annual Growth Rate (CAGR) of 5.4% during the forecast period from 2015 to 2022. The factors favoring market growth include growth in livestock, untapped market potential, increasing consumption of animal based food products and rise in disposable income. However, factors such as rise in ingredient price, low impact on native breeds and unfavourable climatic conditions are the challenges faced by the market. Moreover, usage of Information Technology, strategic activities and feed production from unusual trends are the market trends.
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China is the largest producer of animal feed, and Asia Pacific is the main producer of animal feed across the globe that produces about 40% of the global prepared animal feed market. Asia Pacific and North America both accounted for around 65% of the total market. Growth is high in Asia Pacific countries such as China and India due to increasing income levels and meat consumption. Significant mergers and acquisitions, collaborations, and joint ventures are the industry trends that are playing a major role for the market growth.
Some of the key players in the global market include ConAgra Inc., Charoen Pokphand, Cremer, Deutsche Tiernahrung Cremer, Omaha, Conti Group Companies Inc., CHS Inc., Cargill and Farmland Industries Inc.
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? Cat and dog food
? Lucerne meal and pellets
? North America
o Rest of Europe
? Asia Pacific
o New Zealand
o Rest of Asia
? Rest of the World
o Middle East
o South Africa
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