According to Future Market Insights (FMI), the global animal feed industry is projected to be valued at USD 530.0 billion in 2023 and is expected to reach USD 929.0 billion by 2033. This growth reflects a compound annual growth rate (CAGR) of 7.3% over the next decade.
The rising global population has increased the demand for animal protein, driving up the production of livestock and poultry. As more people enter the middle class and adopt diets rich in meat and dairy, the need for animal feed has surged to meet this growing demand.
Economic growth in emerging markets also contributes to the increased demand for animal feed. In countries such as China, India, and Brazil, industrialization and urbanization are leading to more diverse diets and a higher preference for meat, further boosting the need for animal feed.
The expansion of aquaculture has greatly increased the demand for animal feed, driven by the growing global appetite for seafood. As fish farming becomes more prevalent to satisfy this demand, there is a heightened need for nutrient-rich feed to ensure optimal fish growth.
As aquaculture progresses, there is also a rising demand for specialized feeds tailored to various fish species. Similarly, advancements in animal nutrition research have underscored the advantages of custom diets for livestock and poultry. Farmers and producers are increasingly aware of the benefits of providing balanced, high-quality feed to improve animal health, growth rates, and product quality. This growing awareness is fostering a trend toward more sophisticated feed formulations, resulting in a heightened demand for specialty feed products.
Global demand for animal feed is on the rise, in part due to the ongoing expansion of the pet food sector. Demand for premium pet food has soared as more people acquire pets and cherish them as beloved family members.
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Key Takeaways from this Market Report:
- The global animal feed industry elevated at a CAGR of 6.1% from 2018 to 2022.
- The United States animal feed industry is projected to witness a considerable CAGR of 6.3% in the next ten years.
- China animal feed industry is anticipated to reach a valuation of US$ 101.6 billion by 2033.
- The United Kingdom animal feed industry is likely to register a CAGR of 5.4% from 2023 to 2033.
- By source, the plant-based segment is projected to hold the most prominent animal feed market share in 2033.
Competitive Landscape
Top players in the global animal feed market are prioritizing quality assurance by implementing stringent testing and control measures throughout the manufacturing process. They are securing certifications like Good Manufacturing Practices (GMP) or those specific to organic or non-GMO feed production to enhance trust and credibility with customers.
Additionally, brands are differentiating their products by offering unique formulations, specialized ingredients, or tailored benefits for various animal species. This approach helps them stand out in the market and address specific needs effectively.
For instance,
- In May 2023, Evonik announced its plan to introduce an upgraded version of Biolys. It would be a trustworthy supply of lysine for feed for animals. Customers would be able to more effectively satisfy their animals’ needs for vital amino acid L-lysine.
- In February 2023, SKUAST launched Kashmir’s research-based animal feed supplement named KashMin. It also introduced Region-Specific Mineral Mixture for Livestock. Both products are tailored to the area’s highly specific mineral needs.Top of FormBottom of Form
Key Companies Profiled are:
- DSM N.V
- BASF SE
- Parry Nutraceutical
- Fuji Chemical Industries Co
- Divi’s Laboratories
- Piveg, Inc
- Fenchem Biotek Ltd.
- Alga technologies
- Cyanotech Corporation
- Zhejiang NHU Co., Ltd.
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Market Outlook by Categorization:
By Species:
- Poultry (Commercial)
- Backyard Poultry
- Ruminants (Cattle, Sheep, Goats)
- Swine
- Equine
By Form:
- Wet/Moist Food
- Dry Kibble
- Semi-moist Food
- Frozen
- Freeze-dried Food
By Source:
- Plant-based
- Animal-based
- Micro-organisms
By Sales Channel:
- Direct Sales
- Indirect Sales
- Modern Trade
- Animal Feed Stores
- Veterinary Clinics
- Online Retailers
By Region:
- North America
- Latin America
- Europe
- East Asia
- South Asia
- Oceania
- Middle East & Africa
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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