The global compound feed market size is poised to exhibit monumental growth from 2023 to 2033. According to the research report published by FMI, the global market is projected to cross a valuation of USD 418 billion in 2023. It is predicted to surpass a valuation of USD 674.42 billion by 2033. The market is anticipated to showcase a modest CAGR of 4.9% from 2023 to 2033.
A lot of livestock farmers are using industrial production techniques nowadays. Industrial livestock production requires huge quantities of compound feed. The increasing industrialization in livestock production is likely to be a key growth driver for the market.
The global population is rapidly expanding, thereby increasing the number of people to feed. The ever-increasing population has boosted the demand for poultry, dairy, and meat products, which has led to an increased demand for compound feed. The rising meat consumption is closely linked to increasing income levels. This is particularly true in developing economies where the expanding middle population and their increasing purchasing power are driving meat consumption. Meat consumption requires more compound feed, which is driving the global compound market expansion.
Compound feed is more efficient than traditional feed. It is a cost-effective way of providing animals with the nutrition they need to grow and be healthy. It is easy to store and transport than traditional feed. It can also be formulated to meet the specific nutritional requirements of different animals and their growth stages. These factors are predicted to boost the adoption of compound feed over traditional feed, thereby augmenting market development.
Compound feed ingredients are widely available and can be sourced from a variety of suppliers. This ensures a reliable and consistent feed supply which is essential for large-scale livestock production. The expansion of supply chain networks and the enlargement of production capacities are likely to create lucrative growth opportunities for the market players.
However, the market may experience growth restraints due to fluctuating raw material costs. The price fluctuations of millet, soybean, maize, and wheat may restrain the market’s growth prospects. Compound feed manufacturing is immensely dependent on the production and pricing of these products. Irregular climatic conditions due to global warming may lead to an increase in the costs of these materials, thereby increasing the end product’s overall costs. This fluctuation in prices may hinder market’s development during the forecast period.
Attributes | Details |
---|---|
Compound Feed Market Share (2022) | USD 400 billion |
Compound Feed Market Share (2023) | USD 418 billion |
Compound Feed Market Share (2033) | USD 674.42 billion |
Compound Feed Market Share (2023 to 2033) | 4.9% |
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According to the research report published on the compound feed market, the demand for compound feed is increasing every year. In 2018, the global market size stood at nearly USD 335.42 billion. In the following years from 2018 to 2022, the market witnessed considerable growth, accounting for a worth of USD 400 billion.
In recent years, industrialization and urbanization have picked up the pace. The increasing adoption of intensive livestock farming practices is escalating the demand for compound feed that is fed to livestock. In such practices, livestock is generally raised in confined spaces and compound feed ensures their growth and health. The increasing urbanization and industrialization are likely to spike the demand for food products, such as eggs, milk, and meat.
The aquaculture industry is expected to witness significant growth in the coming years. The growth is likely to be driven by the increasing demand for seafood and declining wild fish reserves. This is likely to boost the demand for aquafeed, which is a type of compound feed specially formulated for aquatic animals. Additionally, the compound feed industry is witnessing an increase in the adoption of sustainable practices. The increasing emphasis on reducing greenhouse gas emissions, minimizing waste generation, and using alternative protein sources is expected to create growth avenues for the market players.
Mash Feed’s Well-proportioned Nutritional Blend to Increase their Popularity
According to the segmentation based on form, the market is segmented into crumbled, mash, and pellets. Among these, the mash segment is projected to clock a modest CAGR of 4.6% from 2023 to 2033. Mash feeds have the capacity to promote consistent growth and lower mortality rates. They are relatively inexpensive, which is likely to boost its adoption. Additionally, they can be easily digested by farm animals, which further promotes their adoption.
The pellet segment is anticipated to witness considerable growth in demand. They propose high benefits and are easy for feed intake. They cause less wastage and are easily to store and transport.
According to the segmentation based on ingredient, the cereal segment is anticipated to witness increased demand in coming years. The segment is likely to account for a revenue of nearly USD 283 billion by 2033. Cereals offer numerous advantages. They are rich in dietary fibers, vitamins, carbohydrates, and iron, which boosts their adoption in manufacturing compound feeds for various livestock species. They serve as an ultimate energy source due to their high starch contents. The rising concerns for upholding healthy livestock are anticipated to boost adoption of cereals.
The swine segment is anticipated to generate a remarkable revenue in the global market. The increasing demand for swine meat across the United States, China, Mexico, and other South East Asia countries is projected to fuel the segment’s expansion.
The poultry segment is poised to garner high CAGR during the forecast period. The increasing demand for poultry animals such as turkey and chicken are expected to boost the segment’s expansion. Additionally, the snowballing demand for eggs and white are expected to help the segment generate high revenues.
Asia Pacific is anticipated to generate high revenues during the forecast period. The region is estimated to account for approximately USD 280 billion by 2033. The increasing population across the region, combined with improving income levels are boosting meat consumption. A massive increase in demand is expected from India and China. The increasing livestock farming practices across India, Japan, China, and other South East Asian countries are estimated to boost the demand for compound feed. Additionally, the increasing concerns for raising healthy livestock are expected to boost market growth in Asia Pacific.
North America is expected to witness substantial growth in coming years. The United States hosts the region’s enormous feed market and experiences a high demand from cattle and poultry businesses. The high demand and production of meat, combined with increasing industrial livestock production are expected to flourish growth in North America’s market.
Europe is predicted to gain significant growth due to the increasing demand for plant-based feed. A huge proportion of the region’s crop production is utilized in manufacturing compound feed. The increasing consumption and demand for meat are expected to augment the region’s market development.
The key players operating in the global compound feed are investing more money in marketing and research & development operations to take advantage of new market trends. They are spending more on research and development initiatives in order to capitalize on increasing trends in the food and beverage sector. Additionally, they are emphasizing acquisitions and mergers to increase their positions in the market.
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North America is estimated to witness lucrative growth opportunities through 2033.
The market is valued at USD 418 billion in 2023.
Forfarmers, Alltech, and Feedone Inc. are the key market players.
Cereal is likely to remain preferred through 2033.
Players opt for mergers, collaborations, and acquisitions.
1. Executive Summary | Compound Feed Market 2. Market Overview 3. Market Background 4. Global Market Analysis 2018 to 2022 and Forecast, 2023 to 2033 5. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Ingredients 5.1. Cereals 5.2. Cakes & Meal 5.3. Supplements 5.4. By-products 6. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Form 6.1. Pellets 6.2. Mash 6.3. Crumbled 7. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Livestock 7.1. Poultry 7.2. Ruminants 7.3. Swine 7.4. Aquaculture 8. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Source 8.1. Plant-based 8.2. Animal-based 9. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Region 9.1. North America 9.2. Latin America 9.3. Europe 9.4. Asia Pacific 9.5. MEA 10. North America Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 11. Latin America Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 12. Europe Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 13. Asia Pacific Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 14. MEA Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 15. Key Countries Market Analysis 16. Market Structure Analysis 17. Competition Analysis 17.1. Archer Daniels Midland Company 17.2. Cargill Incorporated 17.3. Roquette 17.4. Charoen Pokphand Group 17.5. Land O’ Lakes 17.6. Guangdong Haid Group 17.7. Feed One Co. 17.8. Indian Broiler Group Pvt Ltd 17.9. Kent Nutrition Group 17.10. ForFarmers 18. Assumptions & Acronyms Used 19. Research Methodology
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