Animal feeds are foods manufactured for the welfare of farm animals and the encouragement of the animal husbandry sector. The high consumption of meat as a source for protein is likely to result in the increased production of animal feeds. Animal feeds are of three types – roughages, concentrates, and mixed feeds. The global animal feed market report by Market Research Future (MRFR) contains data on the types of feeds and its importance and provides an analysis on its impact on animal health for the period from 2018 to 2023 (forecast period).

Market Scope

The global cattle feed market size can balloon to USD 617.61 million by 2023. It is expected to exhibit a CAGR of 4.27% over the forecast period. The surge in industrial livestock production is the primary driver of the market. This can be attributed to an increase in meat consumption by the masses for their protein intake. The large disposable income levels of consumers and inclination towards meat and meat products is likely to be lucrative for the market. Investments by feed manufacturers to improve fortification processes can bode well for the global animal feed market.

The growing global population can be an active catalyst for the production of animal feeds. The population can reach 9 billion by 2050. Concerns of nutritive value of products and consumption of protein-rich foods will create opportunities for the global market. Innovative feeding concepts discussed at conventions and exhibitions to create awareness among farmers will favor the market demand. Profiling of nutrients and the composition of feeds can be used as basic parameters to understand the diets required for all livestock animals.

Fluctuating prices of raw materials can create a bottleneck in production and hamper overall market growth.

segmentation

The global animal feed additive market is segmented by form and species.

Different forms of animal feed include mash, pellets, crumbles, and others. 'Others' comprise grain mix, whole grains, micro pellet, crushed grain or scratch, and others. The pellet segment can touch a value of USD 243.62 billion by 2023. This can be attributed to its advantages over other feed forms and increase in steady weight gain of animals.

By species, the market is segmented into poultry, swine, aqua, ruminants, and others. The poultry segment can dominate the global animal feed market till 2023 and can command a demand of 572.90 million tons. It can display a CAGR of 4.49% during the forecast period.

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Regional Analysis

The segments covered in the animal feed market report are analyzed with respect to four main regions – North America, Europe, Asia Pacific (APAC), and Rest-of-the-World (RoW).

APAC can dominate the market until 2023 and achieve a valuation of USD 226.91 billion by the end of the forecast period. It can command a demand of 485.75 million tons by 2023. The plethora of opportunities in aquaculture can be lucrative for the global animal feed market to expand further in the region.

North America can display a CAGR of 3.93% over the forecast period to reach a value of USD 131.7 billion by 2023. The large livestock, number of farmers, and supportive regulations are factors which can bolster regional market demand.

Competition Outlook

Land 'O Lakes Inc., Charoen Pokphand Group, COFCO Limited, Japfa Comfeed Indonesia Tbk, Neovia Group, Archer Daniels Midland (ADM) Company, NUTRECO NV, ForFarmers NV, Cargill, Inc., and New Hope Group are noteworthy players of the global animal feed market. Acquisitions and partnerships are prime strategies of the players. In 2018, ForFarmers NV acquired Voeders Algoet to increase its reach in Belgium. In addition, it expanded its product offerings considerably.

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