Global Feed Software Market - 2023-2030

Market Overview

Feed software is utilized by feed manufacturers, formulators, nutritionists, and veterinarians for creating and managing feed formulas. It offers a report-generation feature for preparing a well-balanced diet and analyzing budgets. It also provides details of suppliers that are selling ingredients at a low cost. Besides, it saves time, reduces production costs, minimizes human calculation error, and manages animal nutrient requirements, ingredient details, and composition.

The rapid industrialization of the livestock sector, especially in developing economies, represents one of the key factors propelling the market's growth. Additionally, the growing consumption of meat products catalyzes the demand for animal feed worldwide. Aside from that, because feed formulation is a difficult task that frequently results in the over or under-use of a few ingredients, there is a significant need for feed product optimization techniques. Confluence with the significantly rising animal population contributes to market growth.

The global feed software market was valued at USD YY million in 2022. It is forecasted to reach USD YY million by 2030, growing at a CAGR of 6.23% during the forecast period (2023-2030).

Market Dynamics: Increasing focus on feed production optimization drives the market

Due to growth in meat consumption, increased demand for animal feed has necessitated optimization of feed production, particularly when produced on an industrial scale, to ensure minimum cost and provide efficient feed. The formulation of animal feed is challenging, often leading to the overuse, or underusing of a few ingredients. Overuse of ingredients increases the cost of feed milling operations, and underusing a few ingredients can adversely affect the growth and development of animals. The increased animal feed production worldwide will drive the feed software market during the forecast period. The key manufacturers in the market are introducing new software products to increase their market share according to consumer demand. For instance, in April 2022, Umitron announced the launch of its latest product, Umitron Remora,"plug-and-play" software that brings the company's highly specialized feed optimization algorithms, pellet detection, and mortality estimation to large-scale farm operations without installing additional hardware. According to the company, Remora was specifically designed to increase efficiency and reduce unnecessary workload and stress for feed operators when having to monitor multiple pens.

Market Segmentation: The poultry segment accounted for the highest global feed software market share

In 2022, the poultry segment held the highest revenue share of the feed software market. The increasing poultry meat consumption worldwide will drive this market in the forthcoming years. For instance, according to the Food and Agriculture Organization of the United Nations (FAO), global annual meat consumption per capita is expected to reach 35.3 kg of retail weight equivalent by 2025, an increase of 1.3 kg compared to 2019. This additional consumption will consist mainly of poultry. Meat and poultry are rich sources of many vitamins and minerals, such as vitamin B12, iron, magnesium, zinc, and many others essential for proper body functioning. For instance, Vitamin B helps build tissue and aid in forming red blood cells, iron can prevent anemia, magnesium helps build bones and supports muscle function, and zinc can support the immune system. The increasing popularity of meat and poultry among fitness enthusiasts as the least expensive source of protein instead of dietary supplements is anticipated to propel the market growth.

Geographical Penetration: The Asia Pacific is the dominant region during the forecast period

The Asia-Pacific region was dominant in the global feed software market in 2022. Asian countries, such as China, India, Japan, and Australia, are the leaders in producing feed using the latest technologies. China is the leading market for feed software, as many feed-producing companies use technologies to produce quality feed. The Government of China recently announced programs to cut back on grassland and marginal lands used to grow corn, as there have been pest problems and increased use of chemical treatments. Cargill is bolstering its young animal nutrition capability by investing more than USD 15 million to add a piglet feed production line at its existing premix and nutrition facility in China. The key manufacturers also in the market are introducing new products and focusing on strategic partnerships, mergers, joint ventures, and acquisitions to increase their market share according to consumer demand. For instance, on September 7, 2022, ANDRITZ introduced two groundbreaking innovations for the animal feed market at VICTAM Asia 2022, which is currently being held at the Impact Exhibition Centre in Bangkok, Thailand.

Competitive Landscape:

The leading vendors in the global feed management software market are focusing on improving the quality of product feeds with their diverse software solutions. The need to provide viewers with a sound user experience has compelled companies to optimize their product feed continuously. Therefore, the market players are developing sound models for need management. The relevance of the user experience in feed management has led providers to ramp up customization across their offerings. The major players in the market are Adifo Software, Agrovision B.V., Alltech Inc., Animal Feed Formulation Software, Bluestar Adisseo Company (China National Bluestar (Group) Co. Ltd.), Cargill Incorporated, Cultura Technologies Inc. (Volaris Group Inc.), Dalex Livestock Solutions LLC, DHI Computing Service Inc. and Easy Automation Inc. For instance, on January 27, 2023, Farmers Business Network (FBN®), the global AgTech platform and farmer-to-farmer network, announced FBN Livestock has partnered with Boveta NutritionTM to deliver a proprietary feeding system for beef cattle that improves feed efficiency and carcass yield while reducing methane gas emissions and wet waste.

On September 20, 2022, BASF and Evonik agreed to offer Evonik non-exclusive licensing rights to OpteinicsTM, BASF's digital solution for increasing understanding and reducing the environmental footprint of the feed and animal protein industries. OpteinicsTM, a digital, ready-to-use sustainability platform, has been integrated into Evonik's global feed consultancy services. Customers can create more sustainable feed and animal protein by combining BASF's digital sustainability solution OpteinicsTM with Evonik's revolutionary farm management tools and sustainability services.

On September 20, 2022, Belgium-based Adifo, which has developed food and feed industry-specific software, announced that it would officially be rebranding as BESTMIX® Software, uniting all its brands under the BESTMIX® name.

COVID-19 Impact: Positive impact on the global feed software market

The spread of COVID-19 severely impacted the livestock sector, including feed products. Feed production was affected due to the sudden shutdown of manufacturing units and restrictions on transport services. Furthermore, border control implementation also impacted the feed supply from one country to another. Manufacturers have seen the biggest risks related to the workforce, supply chain, and transportation. However, governments around the globe have taken measures in place to contain and mitigated COVID-19. The key software developers also launched new feed software products, which are estimated to drive the market in the forecasting period. For instance, on December 10, 2020, BASF and Adifo Software launched a new digital solution for the animal agriculture value chain by integrating sustainability analytics powered by BASF's AgBalance Livestock project into Adifo's BESTMIX feed formulation software. BASF's sustainability analytics enable the industry to dynamically assess animal protein production's life cycle environmental impacts to make it more sustainable. Adifo's BESTMIX software allows nutritionists and formulators to manage and optimize nutrition and costs.

The global feed software market report would provide an access to approximately 53 market data tables, 50 figures and 200 pages.