Market Research Report
Global Compound Feed Market Research Report Forecast to 2023
|Published by||Market Research Future||Product code||841560|
|Published||Content info||132 Pages
Delivery time: 1-2 business days
|Global Compound Feed Market Research Report Forecast to 2023|
|Published: April 30, 2019||Content info: 132 Pages||
The growing demand for animal-based products owing to the increasing demand for high-protein food across the world is a key factor driving the growth of the global compound feed market. A focus on animal nutrition and growth and the need to improve animal performance are driving the growth of the market. In developing countries, governments have taken initiatives to support the commercialization of livestock farming, thereby, boosting the demand for compound feed.
However, the fluctuating raw material prices are affecting the profitability of producers, which is restraining market growth. Moreover, stringent regulations for animal feed safety, especially in the European Union, are expected to hamper the growth of the global compound feed market during the review period.
Based on region, the global compound feed market has been segmented into North America, Europe, Asia-Pacific, South America, and the rest of the world. Asia-Pacific is expected to be the largest market during the forecast period. The regional market is estimated to reach USD 211.2 billion by 2023, registering a CAGR of 4.21%. China is projected to account for the largest market share of 51.98% in 2018 and remain the largest market in Asia-Pacific during the forecast period. The growth of the compound feed market in Asia-Pacific can be attributed to various factors such as the rising population, increasing inclination toward high-protein diets, and government initiatives to support the commercialization of livestock farming. The market in Asia-Pacific is also projected to register the highest CAGR of 4.21% during the forecast period.
Europe was the second-largest market with a share of 24.98% in 2017. Germany is expected to dominate the European compound feed market during the forecast period, while the Spanish market is projected to register the highest CAGR of 4.78% from 2018 to 2023.
The global compound feed market has been segmented on the basis of ingredient, supplement, and animal type.
The global compound feed market has been divided, by ingredient, into cereals, cereal by-products, oilseed meals, oils, molasses, supplements, and others. The cereals segment accounted for the largest market share in 2017 and is expected to remain dominant during the forecast period. The supplements segment has further been classified as vitamins, antibiotics, antioxidants, amino acids, enzymes, acidifiers, and others.
Based on animal type, the global compound feed market has been segmented into ruminant, swine, poultry, aquaculture, and others.
The leading players in the global compound feed market are Charoen Pokphand Foods PCL (Thailand), Cargill, Inc. (US), Archer Daniels Midland Company (US), Land 'O Lakes Inc. (US), ForFarmers NV (Netherlands), PT Japfa Comfeed Indonesia Tbk (Indonesia), New Hope Group (China), COFCO (China), Nutreco NV (Netherlands), Neovia Group (France), United Animal Health Inc. (US), Weston Milling Animal Nutrition (Australia), and Feedone Co., Ltd (Japan).
Charoen Pokphand Foods PCL is a leading player in the global compound feed market. The company offers a wide range of compound feed products for all types of livestock. It aims at increasing its market share through acquisitions and expansions. To this end, the company built an aquafeed mill in India for shrimp feed production in July 2018.
Regional and Country-Level Analysis of the Global Compound Feed Market: Developments and Demand Forecast till 2023
As per MRFR analysis, the global compound feed market is estimated to reach USD 539.9 billion by the end of 2023 at a CAGR of 4.02% during the forecast period.