The Global Compound Feed Market was valued at US$ 480.0 Bn in 2022, exhibiting a CAGR of 5.9%, over the forecast period (2023 to 2030) to reach US$719.5 Billion by 2030.Global Compound Feed Market, By Ingredient Type (Cereals, Cakes and Meals, By-products, and By Supplements), By Animal Type (Ruminants, Poultry, Swine, Aquaculture, and Other Animal Types), By Geography (North America, Latin America, Europe, Asia Pacific, Middle East and Africa) - as published by Coherent Market Insights
Global Compound Feed Market - Driver
Growing animal diseases and livestock population
The Global compound feed market is expected to experience a surge in growth due to the increasing global population of livestock, the prevalence of animal-borne diseases, and increased population in developing economies. Additionally, the global demand for high-quality meat and milk products, the increase in industrialization, and the increased emphasis on the advancement and improvement of production techniques are expected to contribute to the market growth. Furthermore, the government's support for the strengthening of the agricultural sector, the emphasis on the utilization of high-quality animal feed, and the increasing trend of organized livestock farming in developing economies will create lucrative and rewarding growth opportunities for the Global compound feed.
Global Compound Feed Market - Opportunities
Introduction of new products
Various compound feed manufacturers are introducing new products to tap into this highly potential market across the world. This is expected to offer significant growth opportunities over the forecast period. For instance, in December 2021, BASF launched the new enzyme product Natupulse TS for animal feed. Natupulse TS is a Non-starch Polysaccharide (NSP) enzyme. As an endo-1, 4-ß-D-mannanase, it hydrolyzes ß-mannans into smaller components, e.g. manno-oligosaccharides (MOS).
Global Compound Feed Market - Restraints
Lack of knowledge among consumers
The Global compound feed market is expected to experience a significant slowdown over the forecasted period due to the lack of awareness and knowledge among small scale farmers in backward economies. Furthermore, the lack of infrastructure and technical expertise, particularly in less developed economies, will further impede the growth rate of the market. Furthermore, fluctuations in raw material prices and stringent government regulations on the manufacture of compound feed will further impede the market growth.
Key Takeaways:
On the basis of region, Asia Pacific is expected to grow at the fastest rate during the forecast period.
On the basis of ingredient type, the cereals segment dominated the global compound feed market in terms of revenue in 2022, followed by cakes and meals and by-products, respectively.
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https://www.coherentmarketinsights.com/market-insight/compound-feed-market-5179
Global Compound Feed Market - Trends
Increasing focus on animal health
Growing focus on animal health and safety to meet the domestic demand for safe and high quality foodstuffs of animal origin is driving the growth of the market. Animal nutrition plays an important role in Animal Health and contributes directly to healthy livestock production. Rising popularity of compound feed in solid form across the globe is expected to shape the market growth positively. These compound feed are easily digestible by farm animals and are also available in the pellet, granule, and power forms.
Global Compound Feed Market - Impact of Coronavirus (COVID-19) Pandemic
The pandemic has had a significant impact on the global demand for compound feed, leading to supply chain disruptions, thus impeding the product trade. As the situation improves, the disruption is expected to dissipate, thus allowing for the product trade to resume. The COVID-19 outbreak has had a significant effect on the livestock industry, including the production of feed products. The sudden closure of manufacturing units and restrictions on transport services has had a detrimental effect on the production of feed. Additionally, the implementation of border control has had a negative effect on the supply of feed between many countries.
Global Compound Feed Market - Competitive Section
- Charoen Pokphand Foods PCL
- Cargill Inc.
- Land O’ Lakes Inc. (Purina Mills)
- Alltech Inc.
- Archer Daniels Midland Company
- ForFarmers
- United Animal Health (DeKalb Feeds)
- Kent Feeds
- Weston Milling Animal Nutrition
- Nutreco NV
