PUBLISHER: 360iResearch | PRODUCT CODE: 1497809
PUBLISHER: 360iResearch | PRODUCT CODE: 1497809
[185 Pages Report] The Animal Feed Market size was estimated at USD 445.95 billion in 2023 and expected to reach USD 472.53 billion in 2024, at a CAGR 6.12% to reach USD 676.07 billion by 2030.
Animal feed is a formulated mixture created to meet the nutritional needs of domesticated animals. It is pivotal in the global food industry, ensuring that livestock receive a balanced diet, which is essential for their growth, health, and productivity. Major factors driving the expansion of animal feed use include increased livestock production driven by a rising global population and expanding dietary preferences for animal protein. Moreover, growing awareness about the benefits of feeding animals nutrient-enriched diets for higher quality animal by-products such as milk, meat, and eggs is also influential for the high demand for animal feed. However, the fluctuating cost of raw materials impacts the pricing structure of feed products and hinders market growth. Regulatory complexities concerning the safety and efficacy of feed additives also challenge market growth. Despite these issues, there is a rising trend of organic and natural feed products that cater to increasing consumer demands for sustainability and animal welfare. Additionally, technological advancements in feed production to reduce environmental impacts and the development of specialized feeds for improved animal health present avenues for market expansion.
KEY MARKET STATISTICS | |
---|---|
Base Year [2023] | USD 445.95 billion |
Estimated Year [2024] | USD 472.53 billion |
Forecast Year [2030] | USD 676.07 billion |
CAGR (%) | 6.12% |
Regional Insights
In the Americas, the animal feed market is showing steady growth, primarily driven by the expansion in livestock production and the increasing demand for high-quality meat and dairy products. Innovations in feed formulation that enhance animal health and productivity are also significant contributors to market dynamics in the region. EMEA region is observing rapid growth with a strong emphasis on eco-friendly and organic feed solutions. Europe, with its regulatory standards, focuses heavily on the safety and sustainability of feed production. The Middle East and Africa, however, are also experiencing faster growth owing to increasing livestock production and urbanization. Asia-Pacific is showcasing robust market growth, fueled by a significant increase in meat consumption, a growing population, and rising income levels, particularly in countries including China and India. Moreover, there is a rising awareness among farmers about the benefits of using compounded feed over traditional feed, which supports industry growth in this region.
Market Insights
The market dynamics represent an ever-changing landscape of the Animal Feed Market by providing actionable insights into factors, including supply and demand levels. Accounting for these factors helps design strategies, make investments, and formulate developments to capitalize on future opportunities. In addition, these factors assist in avoiding potential pitfalls related to political, geographical, technical, social, and economic conditions, highlighting consumer behaviors and influencing manufacturing costs and purchasing decisions.
FPNV Positioning Matrix
The FPNV positioning matrix is essential in evaluating the market positioning of the vendors in the Animal Feed Market. This matrix offers a comprehensive assessment of vendors, examining critical metrics related to business strategy and product satisfaction. This in-depth assessment empowers users to make well-informed decisions aligned with their requirements. Based on the evaluation, the vendors are then categorized into four distinct quadrants representing varying levels of success, namely Forefront (F), Pathfinder (P), Niche (N), or Vital (V).
Market Share Analysis
The market share analysis is a comprehensive tool that provides an insightful and in-depth assessment of the current state of vendors in the Animal Feed Market. By meticulously comparing and analyzing vendor contributions, companies are offered a greater understanding of their performance and the challenges they face when competing for market share. These contributions include overall revenue, customer base, and other vital metrics. Additionally, this analysis provides valuable insights into the competitive nature of the sector, including factors such as accumulation, fragmentation dominance, and amalgamation traits observed over the base year period studied. With these illustrative details, vendors can make more informed decisions and devise effective strategies to gain a competitive edge in the market.
Recent Developments
Olam Agri Boosts Presence in Senegal with Acquisition of Avisen
Olam Agri has strategically expanded its animal feed capabilities into Senegal through the acquisition of Avisen, a local animal feed company. This acquisition aligns with Olam Agri's objective to strengthen its feed and protein business within Africa, enhancing its product portfolio and market reach. By integrating Avisen into its operations, Olam Agri plans to leverage Avisen's established distribution network, brands, and customer relationships to bolster its footprint in the West African region. [Published On: 2024-03-04]
Dutch Company Initiates INR 142 Crore Investment in New Animal Feed Plant in Rajpura, India
De Heus, a Dutch enterprise, has announced an investment of INR 142 crore for the development of an animal feed manufacturing facility in Rajpura, Punjab. This strategic move is aimed at strengthening the company's footprint in India by leveraging Punjab's robust agricultural sector. The plant is expected to commence operations by September of the following year, with a production capacity to meet significant local and regional demand. [Published On: 2023-10-01]
Amul Dairy Expands Portfolio with New Poultry Feed Production Lines
Amul Dairy, a cattle feed producer in India, has diversified into poultry feed production. The company inaugurated new production lines specifically for this venture. This tactical expansion enables Amul to leverage its extensive experience in animal nutrition to meet the growing demand in the poultry sector and enhance its product offerings. This move is anticipated to broaden Amul's market reach and support the industry's overall growth by providing high-quality feed options for poultry farmers across the region. [Published On: 2023-07-05]
Strategy Analysis & Recommendation
The strategic analysis is essential for organizations seeking a solid foothold in the global marketplace. Companies are better positioned to make informed decisions that align with their long-term aspirations by thoroughly evaluating their current standing in the Animal Feed Market. This critical assessment involves a thorough analysis of the organization's resources, capabilities, and overall performance to identify its core strengths and areas for improvement.
Key Company Profiles
The report delves into recent significant developments in the Animal Feed Market, highlighting leading vendors and their innovative profiles. These include Alltech, Inc., ARASCO, Archer-Daniels-Midland Company, Arivan Agrovet Products, Bharat Feeds & Extraction Ltd., Cargill, Incorporated, CB Group, Charoen Pokphand Group, COFCO Group, De Heus Beheer B.V., FEED ONE CO., LTD., ForFarmers NV, Godrej Agrovet Limited, Guangdong HAID Group Co., Ltd., Gujarat Cooperative Milk Marketing Federation,, Hueber Feed, LLC, Japfa Ltd., Kent Corporation, Kerala Feeds Ltd., KSE Limited, Land O'Lakes, Inc., New Hope Liuhe, Nutreco N.V., NWF Agriculture Ltd, and Olam Group Limited.
Market Segmentation & Coverage