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The global compound feed market is estimated to be valued at USD 521.3 billion in 2022. It is projected to reach USD 641.2 billion by 2027, with a CAGR of 4.2%, in terms of value ****ween 2022 and 2027. The market is gaining momentum with increasing demand for providing more nutritious food to livestock to optimize livestock productivity. Additionally, the need for high-quality meat & dairy results in the need for compound feed. Key players have been investing significantly in R&D to cater to changing consumer preferences and reduce production costs.
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Which are the major compound feed market ingredients considered in this study and which segments are projected to have promising growth rates in the future?
All the major compound feed market ingredients such as cereals, cakes meals, by-products, and supplements are considered in the scope of the study. Cereals are currently accounting for a dominant share in the compound feed market and the segment is projected to experience the highest growth rate in the next five years, due to its application as a major ingredient in the manufacturing of compound feed.
Leading players profiled in this report include the following:
• Cargill, Inc (US)
• ADM (US)
• Charoen Pokphand Foods (Thailand)
• New Hope Group (US)
• Land O' Lakes (US)
• Nutreco N.V (the Netherlands)
• Alltech, Inc (US)
By source, the plant-based segment is forecasted to account for the largest market share
Based on the source, the plant-based segment accounts for the largest market share and it would dominate the market in terms of value during the forecast period. The Plant-based raw materials for compound feed are obtained from plant sources like oils, vegetables, grains, etc. The products manufactured from plant sources are rich in micronutrients which act as a complete nutrient for livestock.
By form, the mash segment is forecasted to dominate the market during the forecasted period
Based on form, the mash segment accounts for the highest market share in 2022. Mash form of compound feed is a feed available in meal form which is unprocessed and the finest variety of feed available for livestock. The mash feeds are majorly used in the ruminants and layer poultry. Mash diet gives greater unification of growth and it is economical.
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The Asia Pacific region is the largest market for the compound feed market during the forecast period
The APAC is the largest region in the compound feed market and it is growing with a considerable CAGR ****ween 2022 and 2027. The country is one of the highest consumers and producers of meat from livestock. Growth in the consumption of pork and poultry meat is one of the major factors driving the growth of animal feed in the Asia Pacific. The leading manufacturers of compound feed are rapidly investing in R&D in the region to update technology for improved yield. Additionally, increased demand for meat, safety issues, prevention of disease outbreaks in livestock, etc., are some of the reasons to drive the compound feed market in the region.
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The Warehouse Management System Market reports are now updated with the latest market sizing information for the year 2023 and forecasted to 2029.
Additionally, it provides a futuristic perspective on various factors that are likely to boost Warehouse Management System Market growth in the years to come. Besides, authors of the report have shed light on the factors that may hamper the growth of the Warehouse Management System Market.
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With the advent of big data analytics, what does the future of businesses look like? Find out in this article on top predictive analytics trends in 2023!
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