PUBLISHER: SkyQuest | PRODUCT CODE: 1250090
PUBLISHER: SkyQuest | PRODUCT CODE: 1250090
Global Swine Feed Market was valued at USD 8.91 Billion in 2021, and it is expected to reach a value of USD 12.85 Billion by 2028, at a CAGR of 5.46% over the forecast period (2022-2028).
Global Swine Feed refers to the consumption and production of Swine Feed in the Asia Pacific region. The Asia Pacific region includes countries such as China, India, Japan, South Korea, Australia, and New Zealand, among others. Top-down and bottom-up approaches were used to estimate and validate the size of Global Swine Feed and to estimate the size of various other dependent submarkets. The research methodology used to estimate the market size includes the following details: The key players in the market were identified through secondary research, and their market shares in the respective regions were determined through primary and secondary research. This entire procedure includes the study of the annual and financial reports of the top market players and extensive interviews for key insights from industry leaders such as CEOs, VPs, directors, and marketing executives. All percentage shares split, and breakdowns were determined by using secondary sources and verified through Primary sources. All possible parameters that affect the markets covered in this research study have been accounted for, viewed in extensive detail, verified through primary research, and analyzed to get the final quantitative and qualitative data.
Segments covered in this report
The global swine feed market is segmented on the basis of type, form, additives, and region. Based on type, the market is segmented into starter feed, sow feed, and grower feed. Based on form, the market is segmented into pellets, mash, and crumbles. Based on additives, the market is segmented into vitamins & minerals, amino acids, antibiotics, enzymes, and other additives. Based on region, the global Swine Feed market is segmented into North America, Europe, Asia-Pacific, South America, and MEA.
Driver
The rise in pig production is anticipated to lead to a higher demand for swine feed due to the increasing consumption of animal protein by the global population. Pork, being an affordable source of protein, is consumed by individuals from diverse economic backgrounds. Furthermore, the preference for pig-based products such as bacon and ham, which are valued for their taste and texture, will also contribute to the growing demand for feed. Developed economies are expected to dominate the pork market during the forecast period, mainly driven by the surge in global exports of pork by-products.
Restraint
The fluctuating prices of raw materials and additives can impede the growth of the market. This can particularly impact small and medium-sized farms' affordability when there is a sudden increase in the cost of corn. Furthermore, the industry may face challenges due to a potential decrease in demand for pig meat, as the number of vegans and vegetarians is expected to rise.
Trend
The organic pig meat production sector is expanding, offering benefits to both farmers and animals. With the increasing popularity of organic pork, there is a growing demand for organic swine feed. As consumers increasingly prefer organic food, the production of organic feed for pigs is expected to be a profitable market. The use of non-synthetic minerals and vitamins in organic swine diets, as well as the adoption of non-genetically modified vaccines, are anticipated to contribute to the growth of the organic swine feed market.