New York, US, Jan. 25, 2023 (GLOBE NEWSWIRE) -- Compound Feed Market Overview:
According to a Comprehensive Research Report by Market Research Future (MRFR), Compound Feed Market by Ingredient, Supplement, Livestock, and Region - Forecast till 2030”, the Compound Feed Market can project to touch USD 709.65 billion by 2030, expanding at a rate of 4.85% between 2022 and 2030.
Market Synopsis
A compound feed can be described as a product that is used as feed for farm animals. It is a blend of animal products as well as plant products, consisting of various essential nutrients that ensure accelerated growth of the animals. To ensure the animals remain healthy, more and more manufacturers are focusing on offering improved feed to the end-users. Owing to the strong effort of the manufacturers and the eventual increase in the production rate, the health maintenance of livestock worldwide has become more economical.
Across various countries, the demand for a variety of dairy products, and meat has shot up considerably, which has compelled manufacturers to focus on selling highly nutritious and effective compound feed.
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Report Scope:
| Report Attribute | Details |
| Market Size in 2030 | USD 709.65 billion |
| CAGR | 4.85% |
| Base Year | 2021 |
| Forecast Period | 2022-2030 |
| Historical Data | 2020 |
| Forecast Units | Value (USD Billion) |
| Report Coverage | Revenue Forecast, Competitive Landscape, Growth Factors, and Trends |
| Segments Covered | by Ingredient, Supplement, Livestock, and Region |
| Geographies Covered | North America, Europe, Asia-Pacific, and Rest of the World (RoW) |
| Key Market Drivers | Increase in livestock production |
| Growing demand for meat, dairy and aquaculture products |
Market Competitive Landscape:
The important firms in the compound feed market are
- Smithfield
- Nutrition N.V
- BIOMIN Holding GmbH
- Cargill
- Novus International Inc.
- BASF SE
- DSM
- Addcon Group GmbH
- Tyson
- Kemin Industries Inc.
- Adisseo France S.A.S
- Elanco Animal Health Inc.
Most renowned vendors in the market are concentrating on buying feed mills as well as small-scale businesses to foster their businesses in both international and domestic spaces. A few players are focused on merging or acquiring foreign developers to enhance their geographical presence. Most are emphasizing on regional expansion while setting up new plants to elevate their production capacity as well as product lines. Additionally, corporations are also trying to boost the capacity of their existing plants.
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Market USP Covered:
Market Drivers:
The burgeoning demand for livestock products has resulted in a higher focus on the livestock sector. In various countries, livestock as a business is one of their main livelihoods. The strong demand for various animal-based products is in response to the changes in the consumers’ eating habits and high purchasing power.
In several developed economies, milk consumption is extremely high, especially when compared to emerging nations. The intake of dairy products is tremendously high in the United States. The market for poultry, dairy, and meat products will be seeing a noteworthy rise in the years to come. Therefore, to ensure that the animals are healthy, farmers are seeking ways to improve the quality and effectiveness of compound feed. The market is one of the major sources of income for farmers in rural locations.
Surging awareness among people about the quality and safety of food products sourced from animals will foster the demand for quality feed. With the depletion in land generally utilized for livestock production, the market for compound feed should enjoy considerable growth during the assessment period. The surge in animal husbandry thanks to the rising preference for animal products will also be experienced in the years ahead. The soaring number of food chains and restaurants worldwide should further benefit the global industry.
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Market Restraints:
Time-consuming, rigid regulatory policies also discourage the adoption of compound feed.
With that said, the surging trend of precision nutrition could give rise to attractive opportunities for the players. Investments by government authorities as well as renowned organizations in agriculture allow farmers to adopt more and more compound feed.
COVID 19 Analysis
The compound feed industry has been intensely affected by the COVID-19 outbreak. Given the pandemic scenario, numerous countries had to go under lockdown, to control the rising cases. Owing to this, the demand and supply chain has been disrupted, which has affected the worldwide market. The infrastructural projects, manufacturing units, industries, and various operations had to be put on hold owing to the pandemic situation.
The volatile costs of raw materials and the challenges brought on by the COVID-19 pandemic have restricted the growth rate of the market. On the bright side, the situation is getting back to normal, which means that the market in the future will see better growth.
Market Segmentation
By Ingredient
Cereal By-products, Cereals, Oils, Oilseed Meal, Supplements, and Molasses are a few of the ingredients infused into compound feed.
The cereals segment can expect to garner the biggest market share, owing to their robust demand due to their impressive nutritional value and their easy availability worldwide. The main sources of this ingredient are corn rice as well as wheat.
By Supplement
Acidifiers, Vitamins, Antioxidants, Antibiotics, Enzymes, Amino Acids, and others are the major supplements studied by MRFR.
Amino acids are used extensively in compound feeds given their role in animal growth. Renowned companies are spending on R&D for breakthroughs, developments, improved cost management, as well as production methods for efficient feed-to-meat conversion in the amino acid industry.
by Livestock
Aquaculture, Ruminants, Swine, Poultry, and others are the top livestock-based segments covered in the extensive study.
Regional Insights
The compound feed market in the Asia Pacific, mostly in Thailand, Malaysia, China, and India has been remarkable in recent years, in line with the rapid economic growth. The escalating demand for meat protein has spurred the meat production rate in the region, giving rise to the demand for animal compounds.
Europe and North America are trailing the Asia Pacific market, with the U.S. emerging as the top compound feed in North America. The country has one of the biggest livestock and poultry sectors. The compound feed industry in the country is fostered by accelerated meat production as well as demand, and the thriving livestock sector.
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