Nutritional values of swine feed are important for the production of high quality products. Swine feeds contain fat, carbohydrates, and protein. The energy content of the dietary components depends on the metabolically active ingredients. The energy is quantitatively convertible to heat or calories and is measured in joules or calories. Although corn is the most commonly used grain in swine feed. Corn distiller dried grains with solubles, for example, are a good source of energy. Grain sorghum, also known as milo, has 95% of the energy value of corn and can be interchanged pound-for-pound with corn. Similarly, grain sorghum has similar amino acid and protein content and may be used in place of corn.
Market Statistics:
The global swine feed market is estimated to account for US$ 99,039.40 Mn in terms of value by the end of 2021.
Global Swine Feed Market: Drivers
Growing awareness regarding health and safety of pork is forecast to foster the market growth of swine feed market. For instance, recent outbreaks of Food and mouth disease, African swine fever, and swine flu have greatly affected the pork market globally, especially in Asia-Pacific. As pork is widely consumed all over the world, various government bodies, such as USFDA, and the European Union have introduced some food safety quality standards for processed and raw pork products in the market.
Global Swine Feed Market: Opportunities
Increasing focus of key companies to expand their presence on regional as well as global basis is expected to bring profitable market opportunities in the near future. For instance, in June 2020, FarmHouse Consulting Inc. has joined forces with Groupe Cérès Inc., with the announcement of a joint nutrition agreement between the two companies. The agreement will bring the swine nutrition expertise of Groupe Cérès to the expanding FarmHouse customer base and allow further knowledge and resource sharing adding value for producers.
Global Swine Feed Market: Restraints
Challenging regulatory scenerio is a major factor expected to restrict the market growth. For instance, animal feed production such as swine feed comes under feedstuff regulations in most countries. The regulatory framework has been increasingly getting strict since 2006 in the European Union and since 2009 in the United States, when these countries banned the use of certain antibiotics as growth promoters in animals.
Global Swine Feed Market - Impact of Coronavirus (Covid-19) Pandemic
Globally, during the COVID-19 situation, the importance of agriculture and food production has been recognized as an important sector. On the other hand, the disruption of supply chain has impacted the swine feed market. China is the largest country for the production as well as exporter of swine feed, and it stockpiled significant amounts of products during the emergence of COVID-19 situation as the companies were shut down for the Lunar New Year, which was sufficient for 2-3 months’ supply. China's Wuhan province, where pandemic was first detected, is home to a number of chemical companies that produce the world's supply of animal feed, such as vitamins and amino acids. Thus, the province is a major hub for the supply of animal feed products, such as swine feed, into and out of China. However, due to the COVID-19 situation, the global market ceased to import feed from the Chinese market. Moreover, with factory shutting down, the production, warehousing/distribution, and shipping quickly came to an unexpected halt, this resulted in limited supply to the local as well as global markets.
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Key Takeaways:
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.
Cereals segment held dominant position in the global swine feed market in 2021, accounting for 38.00% share in terms of value, increasing approval and launch of new products is expected to propel growth of the segment during the forecast period.
Global Swine Feed Market Trends:
Integration of AI and block chain in animal nutrition is expected to be a key trend in the market of swine feed. With the use of AI in animal nutrition it is now possible to estimate mycotoxin levels and track critical parameters, such as humidity and temperature in piggeries. This blockchain in the pork industry enable consumers understand the actual procedures behind the package and compliments the work behind it. This facilitate a trusting association with the people which in turn increase the demand and supply.
Increasing investment in animal nutrition is expected to shape the market growth positively over the forecast period. For instance, in February 2022, the governments of Canada and Manitoba have invested $680,900 under the Canadian Agricultural Partnership to support two major projects aimed at protecting animal health and managing disease in the provincial pork industry
Global Swine Feed Market: 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
Global Swine Feed Market: Recent Developments
- In October 2018, Alltech Company strengthened its geographical presence with the development of its sales and support office in Nepal. This move strengthened the sales of animal nutrition products, including swine products, in the country.
- In November 2019, ADM opened a new livestock feed plant, located in Ha Nam province, Vietnam. The new facility joins a growing list of investments by ADM in Vietnam, marking its fifth plant dedicated to animal nutrition in the country. The plant mainly produces feed for swine, poultry, and rabbits
- In February 2019, ADM acquired Neovia, a global provider of value-added animal nutrition solutions, with 72 production facilities.
