Animal Feed Ingredients Market Worldwide Expected to Reach USD 60.65 Billion by 2033: FMI

The animal feed ingredients market is anticipated to expand its roots at an average CAGR of 4.0% between 2023 and 2033. The market is expected to have a market share of US$ 60.65 billion by 2033 while it is likely to be valued at US$ 39.51 billion in 2023

• The expanding dairy, poultry, and meat businesses along with the concept of healthy animal feed are expected to garner market growth. Furthermore, the option of veg and non-veg animal feed ingredients such as corn and fish meat for specific animals are also gaining traction in the market.
• The advent of e-commerce websites, and government authorities helping cattle businesses in terms of growth, information, and production fuels the demand for animal feed ingredients.
• The enhanced feed efficiency, nutrients, and animal-specific feed according to its daily needs are some factors animal feed ingredient vendors focus on. The usage of animal feed ingredients this way increases productivity as animals perform better.
• The enhanced feed intake also helps the animals with their digestion cycle which encourages them to eat more, increasing the overall revenue of the animal ranch, poultry, and swine.
• Another trend that has been noticeable lately is the rising application of oilseed in poultry, swine, cattle, and chicken-based feed. Alongside this, the growth of animal feed-related information on social media and streaming platforms is also helping the end user define their diet.

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 Key Takeaways

1. The United States market leads the animal feed ingredients market in terms of market share in North America. The United States region held a market share of 27.3% in 2022. The growth in this region is attributed to the commercialization of cattle-based businesses, advanced feed ingredients, and government support for poultry farmers.
2. Germany’s market is another important market in the Europe region. The market held a market share of 3.7% in 2022. The growth is attributed to the high pastoral population experimenting with modern animal feed ingredient options.
3. India’s animal feed ingredients market thrives at a strong CAGR of 24.0% during the forecast period. The growth is attributed to the large portion of the economy being based on agriculture, poultry, dairy, etc.
4. China market also thrives at a CAGR of 3.6% between 2023 and 2033. The growth is caused by government-based cattle businesses.
5. Based on product type, the market is segmented into compound feed, fodder, forage, oilseed meals, and animal-by-product meals. The oilseed meals segment is expected to trend during the forecast period as it is in high demand across the verticals.
6. Based on the source, the category is segmented into animal-based protein and plant-based protein.

Competitive Landscape

The key vendors focus on introducing new flavors, high nutritional value, and affordable prices. Key competitors also merge, acquire, and partner with other companies to increase their supply chain and distribution channel.

Key Players Working in the Market are Dupont, Mosaic Company, Burcon Nutrascience Corporation, ADM, Alltech, Hamlet Proteins, DSM, CHS, J.R Simplot Co., BRF, CropEnergies AG, Imcopa Food Ingredients B.V, Cargill, Catalysta, Titan Biotech, A Constantino, GRF Ingredients, Sojaprotein, Evershining Ingredients Company, Darling Ingredients, Sojaprotein, Green Labs LLC., Grain Millers, CJ Cheiljedang Corporation, Others

Recent Market Developments

• Mosaic Company has launched a series of animal nutrition products such as Biofos (Monocalcium phosphate for animal and poultry feed), Dyna-K (Feed-Grade potassium chloride), and Dynamate (Feed-grade potassium and magnesium sulfate)
• Hamlet Proteins has introduced its animal feed ingredients with new meat flavors for swine, poultry, and ruminants.

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Key Segments Covered

Product Type:

• Compound feed
• Fodder
• Forage
• Oilseed meals
• Animal-by-product meals

Source:

• Animal-based Protein
• Plant-based Protein

Application:

• Poultry
• Ruminants
• Swine
• Aquatic Animals
• Other Animals (Pet Animals, Birds, and Reptiles)
• Research and biotech
• Biocatalysts

Key Regions Covered:

• North America
  • The United States
  • Canada
• Latin America
  • Brazil
  • Mexico
  • Rest of Latin America
• Europe
  • Germany
  • The United Kingdom
  • France
  • Spain
  • Russia
  • Rest of Europe
• Japan
• Asia Pacific Excluding Japan
  • China
  • India
  • Malaysia
  • Singapore
  • Australia
  • Rest of Asia Pacific Excluding Japan (APEJ)
• Middle East and Africa
  • GCC Countries
  • Israel
  • South Africa
  • The Middle East and Africa (MEA)

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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