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 between 2022 and 2027. Some of the reasons driving the growth of the compound feed market are increasing demand for meat consumption in developing countries, increasing livestock farming, growing application of animal-based products in the food industry, and rising incidence of animal diseases.
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Key features of compound feed market:
• High demand for animal-based food products: The increasing global demand for meat, dairy, and eggs is driving demand for compound feed, which is used to raise animals for food production.
• Growing population and rising income levels: A growing population and increasing income levels are driving demand for animal-based food products, which in turn is driving demand for compound feed.
• Technological advancements in feed production: Advances in technology and product innovation have led to the development of high-quality, specialized feed products that meet the specific needs of different types of animals.
• Increasing awareness of animal nutrition and health: The growing awareness of the importance of animal nutrition and health is driving demand for high-quality feed that can support the health and well-being of animals.
Compound Feed Market Global Dynamics
Drivers: Growing demand for animal products for commercial use
Meat and dairy products are good sources of protein. There was an increase in imports and exports of meat between developed and developing countries. The consumption of poultry meat has also increased over the past few years due to its low-fat content compared to beef and mutton. Countries such as the US, Mexico, Canada, Brazil, China, Japan, the UK, France, and Germany are the major consumers of processed meat and pork. To obtain good-quality meat and dairy products, the livestock should be free from harmful diseases and ailments. Thus, to reduce risks to human health and the environment, livestock producers focus on providing nutritious feed to their livestock.
Opportunity: Growing importance of livestock feeding practice in developing economies
The low productivity of livestock in developing countries is reflected by poor growth and improper feeding of young ones, which is attributed to poor feeding management. The government policies and economic strategies encourage farmers to transform it into semi-intensive systems with additional imported feed. The compound feed provides a mix of optimum nutrition for livestock. These are some of the reasons why intensive livestock farming is booming in emerging countries, but still, there are opportunities for feed manufacturers to grow in these markets.
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The Asia Pacific is the highest-growing region in the compound feed market during the forecast period
The Asia Pacific region is one of the fastest-growing regions in terms of meat consumption, production, and developing economies are contributing to the growing demand. Feed is an important constituent of agriculture, and the region is the largest producer of feed. Factors such as high demand for meat and animal by-products, rising demand for processed food, and increasing disposable income contribute to the rising demand for compound feed in the region.
Key Players in Compound Feed Market:
Key players in compound feed market include Cargill, Inc. (US), ADM (US), Charoen Pokphand Foods (Thailand), New Hope Group (China), Land O’Lakes (US), Nutreco N.V. (Netherlands), Alltech, Inc. (US), Guangdong Haid Group Co., Ltd (China), Weston Milling Group (Australia), and Feed One Co. (Japan).
