Swine feeds typically contain cereal grains, which are high in energy but low in fiber. Corn is the most common grain used in swine rations, but other grains are often used as base ingredients. Although corn is an excellent source of energy, soybean meal is often the only supplemental protein source in a swine's diet. The most common sources of carbohydrates in swine feed are starch, sugars, and fats. Carbohydrates are macromolecules with carbon, hydrogen, and oxygen, and can be classified into starch, oligosaccharides, and polysaccharides. Starch, as well as some oligosaccharides, are broken down by pancreatic enzymes in the small intestine. Some oligosaccharides, on the other hand, cannot be broken down by pancreatic enzymes, and mucosal enzymes in the small intestine do.
Market Statistics:
The global Swine Feed market was valued at US$ 99,039.40 Mn in 2021 and is forecast to reach a value of US$ 145,300.00 Mn by 2030 at a CAGR of 4.50% between 2022 and 2030.
Asia Pacific held dominant position in the global Swine Feed market in 2021, accounting for 44% share in terms of volume, followed by Europe and North America, respectively.
Figure 1. Global Swine Feed Market Value Share (%), By Region, 2021
Recent Developments:
Report Coverage | Details | ||
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Base Year: | 2021 | Market Size in 2021: | US$ 99,039.40 Mn |
Historical Data for: | 2017 to 2020 | Forecast Period: | 2022 to 2030 |
Forecast Period 2022 to 2030 CAGR: | 4.5% | 2030 Value Projection: | US$ 145,300.00 Mn |
Geographies covered: |
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Segments covered: |
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Companies covered: |
Charoen Pokphand Foods PCL, Cargill Incorporated, Land O' Lakes Inc., Alltech, ADM, KENT Nutrition Group, Forfarmers, DLG Group, Nutreco, J.D. Heiskell & Co., and De Heus Animal Nutrition |
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Growth Drivers: |
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Restraints & Challenges: |
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Market Drivers:
Increasing demand for high-value animal protein is driving growth of the swine feed market. Growing population, increasing disposable income, and rapid urbanization are some of the key factors augmenting demand for high-value animal protein. According to Food and Agriculture Organization, the production quantity of pig meat rose sharply from 119 million metric ton in 2017 to 120 million metric ton in 2018, while the number of pigs slaughtered also rise from 1,486.6 million to 1,489.1 million heads, to meet the rising demand for swine meat.
Growing industrialization of livestock production is another key driving factor propelling growth of the swine feed market. According to Food and Agriculture Organization, the swine population was 968.04 million in 2017, and it increased to 978.33 million in 2018, which shows that the production of pig has been increasing. Even though the livestock population has faced various challenges in the forms of disease outbreaks such as swine fever in 2019 which reduced the swine population, it is anticipated to again increase.
Figure 2. Global Swine Feed Market Value Share (%), By Ingredients, 2021
Market Restraints:
Fluctuating price of raw materials used for feed is anticipated to restrict the growth of swine feed market.
Increasing cost of extraction process and strict regulations for waste biomaterials are other key factors anticipated to hamper the market growth.
Market Opportunities:
Growing production of swine meat around the globe is expected to offer significant growth opportunities over the forecast period. According to the Coherent Market Insights analysis, in 2017, nearly 11.6 million metric ton of pig meat was produced in The United States which increased to 12.8 million metric ton in 2022. The expansion during the past decade has been witnessed due to a shift in consumer preferences.
Increasing consumption of non-GMO labelled pork is also projected to serve major growth opportunities for the market. There is a high demand for premium pork meat among health conscious consumers. This is expected to bring significant growth opportunities in the near future.
Market Trends/Key Takeaways:
Growing popularity of additives such as amino acids, vitamins, antibiotics, and enzymes as they help to improve the immunity of swine is uplifting growth of the market. Moreover, these additive also reduce the fatalities rate caused by disease which is again fostering market growth.
Increasing meat production in countries such as China, South Korea, Thailand, and Vietnam is anticipated to stimulate growth of the market over the forecast period.
Competitive Landscape:
Charoen Pokphand Foods PCL, Cargill Incorporated, Land O' Lakes Inc., Alltech, ADM, KENT Nutrition Group, Forfarmers, DLG Group, Nutreco, J.D. Heiskell & Co., and De Heus Animal Nutrition
Most feed rations contain cereal grains, which are low in fiber and high in energy. Corn is the most common grain used, but other grains can be used as base ingredients. Soybean meal is a good source of protein, but it cannot be the only protein source for pigs. Soybean meal has a much higher energy content than corn.
Market Dynamics:
Growing demand for high-value animal protein is driving growth of the swine feed market. Moreover, rising industrialization of livestock production is again anticipated to foster market growth. Growing awareness regarding the quality and safety of pork is also expected to augment the market growth. Furthermore, increasing demand for non-GMO labelled pork is further projected to spur the market growth.
On the other hand, fluctuating price of raw materials is expected to curtail the market growth.
Key features of the study:
Detailed Segmentation:
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