NEWARK, Del, April 29, 2024 (GLOBE NEWSWIRE) -- According to Future Market Insights’ latest report, the global fermented feed market value is projected to total US$ 19.9 billion in 2024. Global sales of fermented feeds are predicted to soar at 7.8% CAGR during the next decade, totaling US$ 42.1 billion by 2034.
Several factors are anticipated to boost the growth of the fermented feed market over the assessment period. These include the booming livestock industry, escalating demand for animal protein, surging awareness of the benefits of fermented feed, and increasing need for high-nutritional feeds.
Farmers across the world are increasingly becoming aware of the health benefits of fermented feed, including its improved digestibility and enhanced nutrient content. This will play a key role in boosting market growth through 2034.
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The world is also witnessing a high demand for animal protein, triggered by an exploding population and changing lifestyles. This is set to positively impact fermented feed sales as it can help farmers meet growing animal protein demand.
Another aspect contributing to the growth of the fermented feed market is reducing overall feed intake to offer the same or more nutrients, resulting in indirect cost savings. Further, fermented feed improves feed quality and nutritional content, improves digestibility, and strengthens the immune system, enhancing resistance to disease and bacterial infection.
In birds such as chickens, fermented feed helps grow the poultry yield, as it increases the bird's shell weight, egg size, and meat weight. Thanks to these benefits, demand for these alternative feeds is growing rapidly, and the trend is set to persist through 2034.
Key Takeaways from the Market Study:
- The global fermented feed market is set to total US$ 19.9 billion in 2024.
- Global demand for fermented feeds is forecast to soar at 7.8% CAGR through 2034.
- Based on product type, the dry-fermented feed segment is set to account for a value share of 58.3% in 2024.
- By livestock, the swine segment will hold a market share of around 41.2% in 2024.
- North America is projected to hold a revenue share of 24.7% over the forecast period.
- Europe will account for 29.8% of the total fermented feed revenue share over the forecast period.
- Sales in China are predicted to surge at 7.6% CAGR from 2024 to 2034.
- India will register a CAGR of 8.8% through 2034.
“Players operating in the fermented feed market must focus on the development of species-specific fermented feed benefiting animals at all life stages and reducing the risk of diseases. Manufacturers may benefit from introducing cost-effective products in emerging economies, which are primarily agrarian,” says Nandini Roy Choudhury, Client Partner at Future Market Insights.
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Who is Winning?
The fermented feed market has a diverse and dynamic competitive landscape. Lallemand Animal Nutrition, DSM (Biomin), Alltech, Cargill, Chr. Hansen. Archer Daniels Midland Company (ADM) and Lesaffre (Phileo) are key players listed in the report.
These companies are continuously looking to upgrade their portfolios by launching enhanced formulations. They also implement strategies like advertisements, acquisitions, partnerships, agreements, collaborations, and mergers to gain a competitive edge in the market.
Recent Development:
- In 2022, China-based New Hope Feed Co., Ltd introduced a new fermented feed production line with an annual capacity of 20,000 tons.
Key Companies Profiled
- Lallemand Animal Nutrition
- DSM (Biomin)
- Alltech
- Cargill
- Chr. Hansen
- Archer Daniels Midland Company (ADM)
- Novus International
- Provimi
- AB Vista
- Lesaffre (Phileo)
Want More Insights?
Future Market Insights (FMI), in its new offering, provides an unbiased analysis of the global fermented feed market, presenting historical demand data (2019 to 2023) and forecast statistics for the period from 2024 to 2034.
The study incorporates compelling insights on the fermented feed industry based on product type (wet fermented feed and dry fermented feed), livestock (poultry, swine, cattle, aquaculture, and pets (dogs, cats)), and fermentation process (batch fermentation, continuous fermentation, aerobic fermentation, anaerobic fermentation) across various regions.
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Market Segmentation of Fermented Feed Products
By Product Type:
- Wet Feed
- Dry Feed
By Livestock:
- Poultry
- Swine
- Cattle
- Aquaculture
- Pets (Dogs, Cats)
By Fermentation Process:
- Batch Fermentation
- Continuous Fermentation
- Aerobic Fermentation
- Anaerobic Fermentation
By Region:
- North America
- Latin America
- Europe
- East Asia
- South Asia
- Oceania
- Middle East & Africa
Authored by:
Nandini Roy Choudhury (Client Partner for Food & Beverages at Future Market Insights, Inc.) has 7+ years of management consulting experience. She advises industry leaders and explores off-the-eye opportunities and challenges. She puts processes and operating models in place to support their business objectives.
She has exceptional analytical skills and often brings thought leadership to the table.
Nandini has vast functional expertise in key niches, including but not limited to food ingredients, nutrition & health solutions, animal nutrition, and marine nutrients. She is also well-versed in the pharmaceuticals, biotechnology, retail, and chemical sectors, where she advises market participants to develop methodologies and strategies that deliver results.
Her core expertise lies in corporate growth strategy, sales and marketing effectiveness, acquisitions and post-merger integration and cost reduction. Nandini has an MBA in Finance from MIT School of Business. She also holds a Bachelor’s Degree in Electrical Engineering from Nagpur University, India.
Nandini has authored several publications, and quoted in journals including Beverage Industry, Bloomberg, and Wine Industry Advisor.
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Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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