According to Future Market Insights (FMI), the global animal feed industry is set to be valued at USD 530.0 billion in 2023. It is anticipated to reach USD 929.0 billion by 2033. Over the next ten years, global animal feed demand is likely to increase at a CAGR of 7.3%.
The growing global population has driven up the demand for animal protein. As more people join the middle class and shift towards meat and dairy-rich diets, the need for livestock and poultry production has surged. This increased demand requires a substantial rise in animal feed.
The growing demand for animal feed is partly driven by economic growth in emerging markets. In countries like China, India, and Brazil, industrialization and urbanization have led to more diverse diets, with increased meat consumption. This shift has significantly raised the need for animal feed.
The expansion of aquaculture has greatly influenced the growth in animal feed demand. To meet the increasing global appetite for seafood, fish farming has become exceptionally popular.
To ensure optimal fish growth, feed must be nutrient-dense. As aquaculture evolves, the need for specialized feeds tailored to different species is increasing. Advances in animal nutrition have highlighted the benefits of customized diets for livestock and poultry. Recognizing the importance of balanced, high-quality feed for improving animal health, growth rates, and product quality, farmers and producers are increasingly seeking specialty feed products. This growing awareness is leading to more complex feed formulations and rising demand for these tailored solutions.
The global demand for animal feed is increasing, partly driven by the expanding pet food sector. As more people adopt pets and treat them as cherished family members, the demand for premium pet food has surged.
A substantial market has emerged for specialty pet food formulations tailored to the specific dietary needs of various animals, including dogs, cats, and exotic pets. The sector’s strong reliance on these specialized components has led to increased demand for ingredients used in animal feed.
Advancements in livestock genetics and breeding have led to the development of high-performance animal breeds with specialized dietary needs. These genetically enhanced animals require tailored nutrition to support their growth, productivity, and overall health. Consequently, there is a rising demand for customized and specialized animal feed formulations, particularly in the poultry and dairy sectors, where optimizing production and performance is crucial.
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.
Who is winning?
Leading companies are placing a strong emphasis on quality assurance in the global animal feed industry. They are doing this by putting strict testing and quality control procedures into place at every stage of the manufacturing process.
They are further gaining certificates such as good manufacturing practices (GMP) or quality certifications for the production of organic or non-GMO feed. The credibility and confidence of customers can be increased with this tactic.
Brands might additionally distinguish their animal feed products by providing distinctive formulas, specialist ingredients, or particular advantages catered to certain animal species. They can differentiate themselves in the market and satisfy particular needs thanks to this tactic.
In order to address the rising demand for ecologically friendly products, numerous animal feed companies might implement sustainable and eco-friendly procedures. They can use less waste, water, and energy while obtaining materials from sustainable agriculture.
For instance,
- Evonik declared its intention to release an improved version of Biolys in May 2023. It would be a reliable source of lysine for animal feed. Clients will be able to more efficiently meet the essential amino acid L-lysine needs of their animals.
Key Companies Profiled
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.
Get Connected with Our Expert Analyst on Email: sales@futuremarketinsights.com
Animal Feed Market Outlook by Category
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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