New York, Aug. 04, 2023 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Starter Feed Global Market Report 2023" - https://www.reportlinker.com/p06479768/?utm_source=GNW
V, Koninklijke DSM N.V., Devenish, Janaki Group Of Companies, and York Ag.
The global starter feed market is expected to grow from $20.36 billion in 2022 to $32.83 billion in 2023 at a compound annual growth rate (CAGR) of 8.1%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The starter feed market is expected to reach $43.01 billion in 2027 at a CAGR of 6.9%.
The starter feed market consists of sales of chick starter, grower, and layer feeds.Values in this market are ‘factory gate’ values, that is, the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers.
The value of goods in this market includes related services sold by the creators of the goods.
Starter feed refers to nutrient-dense feed that helps the young animal become accustomed to solid food and boosts its absorption of subsequent feeds. It helps to assist the growth of very young animals and reduce mortality.
North America was the largest region in the starter feed market in 2022. The regions covered in starter feed report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
The main types of feed involved in starter feed are medicated and non-medicated.A medicated starter feed is a type of animal feed that is designed to meet the nutritional needs of young animals.
This type of feed contains medication such as amprolium.It comes in various forms, such as pellets, crumbles, and others, and includes ingredients such as wheat, corn, soybeans, oats, and barley.
Its nature is organic and conventional and it used in various applications such as poultry, ruminants, swine, aquatics, equine, and others.
The growth of the aquaculture industry is expected to drive the growth of the starter feed market.The aquaculture industry refers to the practice of breeding, raising, and harvesting fish, shellfish, and aquatic plants in controlled aquatic environments for commercial purposes.
Starter feed is an important component of aquaculture. It is used to support the growth and development of fish and other aquatic animals. it increases fish’s levels of protein, vitamins, minerals, carbs, and amino acids. So these factors boost the starter feed market. For instance, in June 2022, according to Reliefweb, a US-based humanitarian information organization, global aquaculture production reached a record 122.6 million metric tons with a total value of USD 281.5 billion in 2020. Furthermore, according to The International Trade Administration, Agency in the United States Department of Commerce that promotes United States exports of non-agricultural U.S. services and goods, the global market of aquaculture in 2020 was $204 billion and by 2026 it is expected to reach $262 billion.. Therefore, the growth of the aquaculture industry is expected to propel the growth of the starter feed market.
Product innovation is a key trend gaining popularity in the starter feed market.Major companies operating in the starter feed market are focused on developing innovative products to strengthen their position in the market.
For instance, in September 2022, Cargill Corporation, a US-based food corporation launched an innovative pelletised chick starter feed, Neochicc, to promote chick start in the first 120 hours of a bird’s life.It encourages optimal nutritional digestion and uses exact proportions of protein, carbohydrate, fat, and additives in highly digestible components.
Additionally, it contains organic acids and essential oils, which enhance intestinal health and nutrient absorption. This new beginning diet is made to help young chickens reach their genetic potential while consuming feed more effectively.
In March 2021, De Heus Beheer B.V., a Myanmar-based manufacturer and supplier of nutritional feed products, acquired Golpasz SA., for an undisclosed amount. With this acquisition, De Heus Beheer B.V. aims to improve its position in Poland and provide clients with customized solutions. In addition, the company wants to combine its expertise with that of Golpasz. Golpasz SA., is a Poland-based feed manufacturer that produces starter feed products for poultry, cattle, and sheep.
The countries covered in the starter feed market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
The starter feed market research report is one of a series of new reports that provides starter feed market statistics, including starter feed industry global market size, regional shares, competitors with a starter feed market share, detailed starter feed market segments, market trends and opportunities, and any further data you may need to thrive in the starter feed industry. This starter feed market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
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