The global compound feed market will be observing a brisk growth pattern in the coming years, on account of the increase in animal-based food product consumption across the globe. The evolving customer dietary habits with regard to meat and dairy products quality is set to contribute massively to the compound feed market growth from 2018 to 2023.
Thus, owing to these reasons, there has been a sharp rise in the popularity of organic feed, which has given way to growing trend of vertical integration (contract farming), leaving a major impact on the compound feed market growth at a global level. Moreover, growing expenditure for advertising organic feed product is expected to assist the industries in creating opportunities, thereby expanding the market share for Compound Feed Market.
Market Research Future (MRFR), after careful analysis, predicts that the Global Compound Feed Market is on its way to reach the valuation of USD 539.9 billion by 2023. Also, it will be clocking in a CAGR of 4.02% during the forecast period (2019-2023).
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The Top Vendors in the Global Compound Feed Market are-
- United Animal Health Inc. (U.S.)
- Land ‘O Lakes Inc. (U.S.)
- Nutreco NV (The Netherlands)
- Weston Milling Animal Nutrition (Australia)
- COFCO (China)
- Neovia Group (France)
- Feedone Co., Ltd. (Japan)
- Cargill Inc. (U.S.)
- New Hope Group (China)
- Charoen Pokphand Foods PCL (Thailand)
- ForFarmers NV (The Netherlands)
- Archer Daniels Midland (ADM) Company (U.S.)
- PT Japfa Comfeed Indonesia Tk (Indonesia)
The market for compound feed is segmented on the Basis of Ingredient, Supplement, and Livestock.
Based on the Ingredient
- considered for cereals
- cereal by-products
- oilseed meal
Among these, cereals accounted for roughly 37.44% market share in 2017, with it expected to register a CAGR of 3.48% and also reach the valuation of USD 195.9 million by 2023. The primary reason behind the strong growth of the segment can be the abundance of raw materials like corn and sorghum that are required for producing cereals. Furthermore, oilseed meals accounted for almost 28.32% of the market share in 2017, with the expected growth at a CAGR of 4.45% and attaining the valuation of USD 156.7 million by 2023. Various studies being conducted that promote the use of oilseed meals on account of the presence of glucosinolate will help the segment grow at a rapid pace. As oilseed meals have been found to eliminate cancer cells, the demand will most likely surge among farmers in the coming years. In addition, in 2017, supplements held approximately 13.28% share, and will depict the highest CAGR of 4.71%, whilst reaching the valuation of close to USD 74.6 million by 2023. The strong growth trajectory is the outcome of the steady inclusion of compound feeds in livestock diet that improve their overall well-being.
Based on the Supplement
- Amino acids
Out of these, amino acids accounted for close to 23.91% of the total share in 2017, trailed by antioxidants (16.83%), and acidifiers (11.83%). Amino acids will be exhibiting a growth rate of 5.31%, garnering close to USD 18.5 billion by 2023. Growing preference for protein-based foods is leading to the striking growth of the segment. However, enzymes will showcase the second-highest CAGR of 5%, accruing close USD 8.4 billion by the end of the forecast period. Growing awareness about the benefits of enzymes such as ease in digestion as well as well-being of animals will help in facilitating the growth of the segment in the near future. whereas, antioxidants have the potential of depicting a CAGR of 4.25%, set to reach the valuation of USD 12.2 billion by 2023.
Based on the Livestock
Out of all these, poultry governed a substantial share of 39.01% in 2017, with swine just behind holding 24.17% of the total share. Also, poultry will exhibit a CAGR of 4.15% during the review period, with the predictions of it garnering almost USD 212.2 billion by 2023. But it is the segment of aquaculture that will be surging at the highest CAGR of 4.38% and will be estimated at USD 65.7 billion by 2023.
The regional analysis of the Global Compound Feed Market has been done in South America, Europe, North America, Asia Pacific (APAC), as well as the Rest-of-the-World (RoW).
March 2019 – Paris-based Ÿnsect, an agtech startup, has developed a type of protein by breeding various insects, followed by their transformation into premium protein for pet food, organic plant fertilizers as well as fish feed. The company will be building the world’s largest insect farm in Amiens Metropole, Northern France, in addition to the expansion in international markets, targeting the North American market in particular.
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