The global Swine Feed Market size is expected to reach USD 135.7 billion by 2025, accelerating at a CAGR of 3.5% over the forecast period, according to a new report by Grand View Research, Inc. Focus on improving the overall quality of pork has been a critical factor, which is triggering the demand for the product.
Increasing awareness among consumers concerning the quality of pork is compelling swine farmers to utilize additives that keep swine healthy as well as immune to diseases and disorders. Also, the use of enhanced additives is expected to reduce the occurrence of infections as well as illnesses in swine, thereby contributing to the increasing demand for the product worldwide.
Manufacturers in the market are constantly evaluating techniques to enhance growth performance as well as lower product costs. Physical forms, such as mash, crumbles, and pellets, play a crucial role in determining the quality and yield of pig meat. Rising urbanization and establishment of fast food restaurant chains are expected to augment the demand for pig meat.
The trend is becoming increasingly prevalent in the emerging economies of Asia Pacific including China, India, and Malaysia. Population growth is another key factor that is expected to drive meat consumption globally. These factors together are expected to augment the demand for animal proteins, which, in turn, is likely to propel the demand for the product and additives over the forecast period.
The U.S. and China emerged as the most prominent regions for the market in 2018. Market growth in these countries can be attributed to the abundant availability of raw materials along with increasing consumption of meat byproducts. Fluctuation in the prices of major raw materials, such as corn and soybean and swine feed additives, is projected to hamper the market growth over the forecast period.
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Further key findings from the report suggest:
- In terms of revenue, Asia Pacific emerged as the fastest-growing regional market across the globe in 2018
- Amino acids segment emerged as the prominent additives segment, in terms of volume, in 2018 with a market share of 24.1%
- Asian countries, especially India and China, are likely to witness remarkable growth rate over the forecast period owing to increasing meat consumption
- The swine feed market is fragmented and competitive with the presence of major global players such as AFB International, Alltech, Evonik, DSM, Nutreco N.V., Archer Daniels Midland, and Cargill.
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Grand View Research has segmented the global swine feed market on the basis of product, form, additives, and region:
Product Outlook (Volume, Kilotons; Revenue, USD Million, 2014 – 2025)
- Starter Feed
- Grower feed
- Sow Feed
Form Outlook (Volume, Kilotons; Revenue, USD Million, 2014 – 2025)
Additives Outlook (Volume, Kilotons; Revenue, USD Million, 2014 – 2025)
- Amino Acids
- Feed Enzymes
- Feed Acidifiers
Regional Outlook (Volume, Kilotons; Revenue, USD Million, 2014 – 2025)
- North America
- Asia Pacific
- South Korea
- Central & South America
- Middle East & Africa
- South Africa
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Aquafeed Additives Market – https://www.grandviewresearch.com/industry-analysis/aquafeed-additives-market
Animal Feed Additives Market – https://www.grandviewresearch.com/industry-analysis/animal-feed-additives-market
About Grand View Research
Grand View Research provides syndicated as well as customized research reports and consulting services on 46 industries across 25 major countries worldwide. This U.S.-based market research and consulting company is registered in California and headquartered in San Francisco. Comprising over 425 analysts and consultants, the company adds 1200+ market research reports to its extensive database each year. Supported by an interactive market intelligence platform, the team at Grand View Research guides Fortune 500 companies and prominent academic institutes in comprehending the global and regional business environment and carefully identifying future opportunities.
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