The global compound feed market is set to witness substantial growth, projected to surpass a valuation of US$ 674.42 billion by 2033, with a modest CAGR of 4.9% from 2023 to 2033. This growth is driven by factors such as increasing industrialization in livestock production, rising meat consumption due to population growth and income levels, and the efficiency and cost-effectiveness of compound feed over traditional feed.
Urbanization and industrialisation are consistently mushrooming across the globe. The increasing global population is resulting in a surge in demand for poultry, meat, and dairy products. With increasing urbanization, the purchasing power of consumers is also increasing. The demand for food goods including beef, milk, eggs, and other dairy products is projected to increase as urbanisation and industrialization progress. An increase in industrial livestock production methods is likely to boost the demand for compound feed in coming years.
The demand for compound feed is propelled by the escalating need to feed a rapidly expanding global population, which drives the demand for poultry, dairy, and meat products. Additionally, the adoption of intensive livestock farming practices necessitates large quantities of compound feed to ensure optimal growth and health of animals. Furthermore, the rising consumption of meat, particularly in developing economies, is a key driver for market expansion.
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Several factors contribute to the growth of the compound feed market, including the increasing adoption of industrial production techniques in livestock farming, the efficiency and cost-effectiveness of compound feed, and the availability of a wide range of ingredients from various suppliers. Additionally, the expansion of supply chain networks and production capacities presents lucrative growth opportunities for market players.
In Asia Pacific, meat consumption is rising as a result of rising economic levels and the ever-increasing population. It is predicted that rising livestock farming methods in China, Japan, India, and other South East Asian nations would increase demand for compound feed. Also, the growing emphasis on producing healthier cattle is anticipated to boost market expansion in the Asia Pacific region.
Key Takeaways from Compound Feed Market Report:
- The mash segment is projected to clock a modest CAGR of 4.6% from 2023 to 2033.
- In 2018, the global market size stood at nearly US$ 335.42 billion.
- In 2022, the market accounted for a worth of US$ 400 billion.
- The cereal segment is likely to account for a revenue of nearly US$ 283 billion by 2033.
- Asia Pacific is anticipated to generate a revenue of approximately US$ 280 billion by 2033.
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Recent Developments Observed by FMI:
- Precision Livestock Analytics, a provider of livestock data analytics, was acquired by Cargill in June 2021. The acquisition is intended to assist livestock farmers in enhancing the health and growth of their animals.
- In May 2021, DSM purchased First Choice Ingredients. The goal of this acquisition is to strengthen the company’s range of ingredient solutions.
- In April 2021, Alltech acquired Solbiosur, a significant Argentine provider of animal feed. The acquisition intends to increase the company’s market share in South America.
- Sojaprotein, a top European manufacturer of plant-based protein components, was acquistion by ADM in March 2021.
Compound Feed Market Segmentation
Compound Feed Market by Ingredients
- Compound Feed in Cereals
- Compound Feed in Cakes & Meal
- Compound Feed in Animal By-Products
- Compound Feed in Additives
- Compound Feed in Supplements {Vitamins, Enzymes, Acidifiers, Amino acids, Probiotics & Prebiotics}
Compound Feed Market by Form
- Compound Feed in Pellets
- Compound Feed in Mash
- Compound Feed in Crumbled
Compound Feed Market by Livestock :
- Compound Feed in Poultry {Broilers, Layers, Breeders}
- Compound Feed in Ruminants
- Compound Feed in Swine
- Compound Feed in Aquaculture
About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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