PUBLISHER: DataM Intelligence | PRODUCT CODE: 1255867
PUBLISHER: DataM Intelligence | PRODUCT CODE: 1255867
The global animal feed market reached US$ XX million in 2022 and is projected to witness lucrative growth by reaching up to US$ XX million by 2030. The market is growing at a CAGR of 4.5% during the forecast period (2023-2030).
Animal feed is rich in proteins, carbohydrates, enzymes, minerals, fibers etc. which directly increases the animal produce like the milk, eggs and meat. For sustaining life processes and supporting muscular activity in the animals these feed act as a source of energy. The microalgae present in the animal feed are loaded with nutrients for the animals' early development of livestock stages. For lowering the likelihood of weight loss, infections and illness in animals, the animal feed is the key ingredient. The structural development of animals is mainly dependent upon how well the animals are fed.
People now a days are interested in animal-based protein which increases the consumption of livestock products. As the animal-based products like eggs, milk, and meat are rich in proteins and vitamins, magnesium, iron, zinc etc, the demand for these product is always high. These animal -based products are also benificial to the consumer by improving the human nutrition, heart and bone health. So higher consumption of animal-based products will increase the need of good quality of animal feed which boost the growth of animal feed market.
Animals need to be nourished with high quantity of nutrition for their proper development and feed is the most important ingrendients for achieving this. The proteins available in the animal feed helps the animals by making up cell structures including muscle, hair and nails. The proteins act as a building blocks for animal tissues. The help animals in the growth and regeneration of their tissues. The proteins also includes functions like acting as enzymes and hormones, making antibodies, providing energy, maintaining proper fluid and acid-base balance. The animal feed help the animals in getting the required protein. So the demand of proteins in animals' body will rise the animal feed market.
The COVID-19 Analysis includes Pre-COVID Scenario, COVID Scenario and Post-COVID Scenario along with Pricing Dynamics (Including pricing change during and post-pandemic comparing it with pre-COVID scenarios), Demand-Supply Spectrum (Shift in demand and supply owing to trading restrictions, lockdown, and subsequent issues), Government Initiatives (Initiatives to revive market, sector or Industry by Government Bodies) and Manufacturers Strategic Initiatives (What manufacturers did to mitigate the COVID issues will be covered here).
The global animal feed market is segmented based on form, species, ingredient and region.
The animal feed market based on the species is devided into poultry, ruminants, aqua, swine and others. In 2022 the poultry segment had the highest share in the market. Poultry are the domesticated birds which are farmed for their meats and eggs. The poultry birds include ducks, chickens, geese and others. The foods required for the farming of poultry includes maize, soya beans, cottonseed cake etc. The poultry farming is very popular now a days due to the high quality of eggs and meats obtained from the domesticated birds. These eggs and meat are very nutritious and rich in protein also.
North America held the highest share in the global animal feed market. In this region the raw materials for producing animal feed is easily available. The raw materials includes corn, soyabean meal, wheat midds, corn gluten feed, bakery meal etc and these are available in a cheap cost in the region. A s a result, manufacturers can easily produce different types of animal feed products which enables easy animal farming. Hence, the easy availability of raw materials for the animal feed production in North America may boost the growth of animal feed market.
The major global players in the market include: Neovia Group, ForFarmers N.V., Cargill Inc., Archer Daniels Midland, COFCO Limited, New Hope Group, Charoen Pokphand Group, Japfa Comfeed Indonesia Tbk, NUTRECO N.V., Land 'O Lakes Inc.
The global animal feed market report would provide approximately 61 tables, 58 figures, and 200 Pages.
LIST NOT EXHAUSTIVE