Animal Feed Market Statistics on Industry Growth, long-term investment, Size, Share, Business Opportunity by 2027
Research Reports
Jan 11, 2021
Animal Feed Market Overview
The animal feed industry is gradually evolving, and the animal feed manufacturers are increasingly using sophisticated and best global practices. Market Research future has revealed high growth prospects for the global Animal Feed Market which is expected to grow at a considerable CAGR over the next couple of years. The animal feed industry has been expanding on account of increasing need to meet the food demands of the booming population. The growth in the animal feed demand has been spurred by an increase in demand for food of animal origin, including meat, egg, fish, and milk. This considerable increase in demand for animal origin products is likely to prevail over the foreseeable future owing to the globalization of trade in such products. The substantial growth in the market has been supported by the consolidation of feed mills across the world.
The animal feed market has been further developing due to high demand for quality food products. Standard animal feed is essential to ensure food safety, reduce production costs, and enhance animal health. Higher focus on animal welfare and animal health is another major factor driving the growth of the animal feed market. High investment in R&D activities by key players to improve feed production, feed technology, and animal nutrition also boosts the growth of the market. However, lack of introspection and regulations over the activities of the animal feed industry is a hindrance to the growth of the market. Regulatory frameworks are being devised to monitor the activities of the animal feed industry which would help the market expand in the forthcoming years.
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Competitive Landscape
The prominent players operating in the global animal feed market include Cargill Inc, Evonik Industries AG, Novozymes A/S, BASF SE, ., Nutreco N.V., Archer Daniels Midland Company, Adisseo France SAS, Charoen Pokphand Foods Public Company Limited, Alltech, Inc., and Chr. Hansen Holding A/S.
Segmentation
The global animal feed market has been segmented based on source, function, and application. By source, the market has been segmented into vegetables, grains and pulses, oilseeds, and others. By function, the market has been segmented into carbohydrate, protein, minerals, fat, and others. By application, the market has been segmented into cattle, swine, aquatic culture, and others.
Regional Analysis
North America stores ample opportunities for the growth of the animal feed market. The US is one of the top producers of animal feed in the world. Europe market for animal feed is strong and has been supported by smaller producing countries in the region. Asia Pacific market is led by China, which is one of the most prominent producers of animal feed in the world. Improving economy and presence of various farming nations in the region drives the growth of the Asia Pacific market.
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