Global Animal Feed Market Overview, 2024-29

The global animal feed market is a vital component of the agricultural sector, underpinning the production of meat, dairy, and other animal products. As the world’s population continues to expand and dietary preferences shift toward more protein-rich foods, the demand for efficient and sustainable animal feed is surging. This market is not only shaped by rising consumption but also by innovations in nutrition and feeding technologies that enhance livestock health and productivity. A growing emphasis on sustainability and animal welfare is prompting changes in feed formulation and sourcing. Coupled with evolving regulatory frameworks aimed at ensuring food safety and environmental protection, the animal feed market is navigating a complex landscape, driven by both consumer expectations and industry advancements. As the global population continues to grow, so does the demand for livestock products, prompting farmers to seek more efficient and sustainable feed solutions. Innovations in animal nutrition, such as the development of precision feeding techniques and alternative protein sources, like insect meal and algae, are reshaping the market. These advancements not only enhance feed efficiency and animal health but also address environmental concerns by reducing greenhouse gas emissions and the ecological footprint of livestock farming. For instance, the European Union has implemented stringent regulations on additives and contaminants, while countries like the United States are focusing on transparency in labeling and antibiotic use in animal feed. As consumer awareness regarding food origins and safety rises, compliance with these regulations becomes crucial for market players. According to the research report "Global Animal Feed Market Outlook, 2029," published by Bonafide Research, the Global Animal Feed market was valued at more than USD 488.2 Billion in 2023, and expected to reach a market with the CAGR of 3.49% from 2024-2029. The animal feed market is shaped by a variety of interrelated factors and trends that are driving its evolution. A significant contributor is the rising global demand for protein, spurred by population growth and changing dietary preferences that favor meat and dairy consumption. This increasing demand necessitates higher-quality and more efficient animal feed, compelling producers to innovate continually. Furthermore, the shift towards organic and non-GMO feed reflects a broader consumer preference for health-conscious products, driving producers to adapt their offerings. Supply chain disruptions, highlighted by recent global events such as the COVID-19 pandemic, have underscored vulnerabilities in sourcing and production, leading the industry to seek more resilient strategies. Economic factors such as commodity prices and trade policies continue to impact the cost and availability of feed ingredients, shaping the competitive landscape of the animal feed market. For instance, according to the Food and Agriculture Organization (FAO), India's cattle population has grown from 191.9 million in 2018 to 193.2 million in 2021. In addition, milk production in densely populated countries like India reached 108.3 million metric tons in 2021, reflecting a substantial 20.6% increase from the figures recorded in 2018. Additionally, the expansion of livestock and pet ownership is further fueling the need for high-quality animal feed, with a notable trend towards sustainable practices influencing production methods. The Asia Pacific region dominates the market due to its large livestock population, while North America sees growth driven by stringent regulations on meat quality. However, the market faces challenges such as fluctuations in raw material prices and competition from plant-based alternatives.

The animal feed market is segmented based on livestock type, with the major segments being cattle, poultry, swine, and aquaculture. The cattle feed segment is further divided into beef cattle feed and dairy cattle feed. Beef cattle feed focuses on promoting growth and muscle development, while dairy cattle feed emphasizes milk production and overall health. Major players in the cattle feed market include Cargill, Purina Animal Nutrition, and Land O'Lakes. The demand for cattle feed is driven by the growing global population and the increasing consumption of beef and dairy products, particularly in emerging economies like China and India. The poultry feed segment dominates the animal feed market, accounting for the largest share of global production. Poultry feed is designed to meet the specific nutritional needs of broilers, layers, and breeders. Key players in the poultry feed market include Tyson Foods, Perdue Farms, and Pilgrim's Pride. The demand for poultry feed is driven by the increasing consumption of chicken and eggs, as well as the rising popularity of plant-based protein sources. The swine feed segment is focused on meeting the nutritional requirements of pigs at different stages of growth, including starter, grower, and finisher feeds. Major players in the swine feed market include Smithfield Foods, Triumph Foods, and Seaboard Foods. Advantages of swine feed include improved growth rates, better feed efficiency, and reduced incidence of health issues. The demand for swine feed is driven by the increasing consumption of pork, particularly in Asia. The aqua feed segment is designed to meet the nutritional needs of various aquaculture species, including fish and shrimp. Key players in the aqua feed market include Cargill, Skretting, and Biomar. Advantages of aqua feed include improved growth rates, better feed conversion ratios, and enhanced disease resistance. The demand for aqua feed is driven by the increasing consumption of seafood and the growing popularity of aquaculture as a sustainable source of protein. Cereals, such as corn, wheat, and barley, are the most widely used ingredients in animal feed. They serve as the primary source of energy and carbohydrates for livestock. Corn, in particular, is a staple ingredient in many feed formulations due to its high energy content and availability in major agricultural regions like North America. Wheat and barley also play significant roles in diversifying the feed material base, especially in regions like Europe and Asia. By-products from various food processing industries are also used extensively in animal feed. Brewer's spent grain, a by-product of beer making, is another widely used animal feed ingredient. Oilseed meals, such as soybean meal and canola meal, are quickly gaining popularity in the animal feed market. Soybean meal, in particular, is a cost-effective source of protein with an amino acid profile similar to fish meal, making it a suitable substitute. Around 70% of the total soybean animal feed ingredients are used in livestock feeding. Supplements, including amino acids, phosphates, vitamins, acidifiers, carotenoids, enzymes, and probiotics, are added to animal feed to enhance nutritional value, improve feed efficiency, and promote animal health. Amino acids, for instance, help build immunity and promote animal growth, making them the dominant segment in terms of additives. Supplements provide a mechanism to resolve nutrient deficiencies and optimize animal performance. Other ingredients used in animal feed include fats, hay, and various premixes. Fats provide concentrated energy sources, while hay serves as a source of fiber. Premixes are composed of microingredients such as vitamins, minerals, chemical preservatives, antibiotics, and fermentation products that are blended into commercial rations to ensure animals receive recommended levels of essential nutrients. Pellets are a popular choice, created by compressing a mash of ground ingredients through a pellet mill. This process not only enhances the feed's digestibility but also eliminates harmful bacteria, making it a safe option for animals. Pellets are easy to handle and store, which contributes to their widespread availability in markets worldwide. They are particularly favored in poultry and livestock sectors due to their efficient nutrient delivery. Mash is another common form, consisting of finely ground grains mixed with vitamins and minerals. It has a texture similar to cornmeal and allows for uniform mixing of ingredients, ensuring that animals receive all necessary nutrients in each bite. However, mash can be less palatable for some animals, particularly waterfowl, which may struggle to consume it without additional water. Despite this limitation, mash remains prevalent in regions where cost-effectiveness is prioritized. Crumbles are essentially pellets that have been broken into smaller pieces, making them easier for young birds and other small livestock to consume. This form combines the benefits of pellets with enhanced accessibility for younger animals, leading to increased feed intake and growth rates. Crumbles are gaining popularity in broiler production due to their convenience and effectiveness. The others category includes forms like cubes and cakes, which are less common but still utilized in specific markets. These forms can provide alternative feeding options that may be more suitable for certain livestock or feeding practices.

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Manmayi Raval

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Plant-based feed sources, which include grains, legumes, and various by-products, are increasingly favored for their sustainability and health benefits. They are often perceived as more environmentally friendly due to lower resource consumption and reduced greenhouse gas emissions compared to animal agriculture. For instance, producing plant protein requires significantly less land and water than animal protein, making it a more sustainable choice for feeding livestock. Additionally, plant-based diets are rich in fiber, vitamins, and minerals, which can enhance animal health and productivity. The growing consumer awareness regarding ethical concerns associated with animal farming further drives the demand for plant-based feeds. These feeds also align with the rising trend of vegetarianism and veganism among consumers, promoting a shift towards more sustainable agricultural practices. Animal-based feed sources include by-products from meat processing (like meat and bone meal) and dairy industries. These ingredients provide high-quality protein that is essential for livestock growth and productivity. Animal-based feeds are particularly valued for their amino acid profiles, which are crucial for muscle development in animals. However, there are growing concerns regarding food safety and environmental impact associated with animal agriculture, prompting a shift towards more plant-based alternatives. Despite these challenges, animal-based feeds remain integral to many livestock diets due to their nutrient density and palatability. The Middle East and Africa (MEA) are experiencing significant growth in the animal feed industry primarily due to the increasing demand for meat and other animal-based products driven by rising population and income levels. The burgeoning demand for animal feed in the MEA region is closely linked to demographic shifts, economic development, and changing dietary preferences. As populations in countries like Saudi Arabia, Nigeria, and South Africa continue to grow, there is a corresponding increase in the demand for protein-rich diets. Meat consumption, particularly chicken, beef, and lamb, is on the rise as consumers seek more diverse and nutritious food options. This shift is not only influenced by population growth but also by rising disposable incomes that enable consumers to afford higher-quality meat products. Government initiatives aimed at achieving self-sufficiency in food production further bolster this growth. Many countries in the region are investing in livestock farming infrastructure to reduce dependence on imported meat and dairy products. For instance, Saudi Arabia has launched initiatives to expand broiler chicken production significantly, aligning with its Vision 2030 goals of enhancing food security and sustainability. Such policies encourage the establishment of more livestock farms and feed mills, which are essential for meeting the increasing demand for animal feed. Major Companies present in the market: Cargill Inc., Guangdong Haid Group, Chareon Pokphand Foods, For Farmers, New Hope Liuhe Co Ltd, Archer Daniels Midland Co, Feed One Co, Ltd, Alltech Inc, Nutreco N.V, Kent Nutrition Group

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Considered in this report: • Geography: Global • Base year: 2023 • Estimated year: 2024 • Forecast year: 2029 Aspects covered in this report • Global animal feed market with its value and forecast along with its segments • Region-wise animal feed products market analysis • Various drivers and challenges • On-going trends and developments • Top profiled companies • Strategic recommendation Regions covered in the report • North America • Europe • Latin America • Asia-Pacific • Middle-East & Africa Types of feed ingredients in the report: • Cereals • By-Products • Cakes & Meals • Supplements Types of feed by livestock in the report: • Cattle Feeds • Poultry Feeds • Pig Feeds • Aqua Feeds Types of form in the report: • Pellet • Mash • Crumbles • Cubes & Cakes The approach of the report: This report consists of a combined approach of primary as well as secondary research. Initially, secondary research was used to get an understanding of the market and listing out the companies that are present in the market. The secondary research consists of third party sources such as press releases, annual report of companies, analysing the government generated reports and databases. After gathering the data from secondary sources primary research was conducted by making telephonic interviews with the leading players about how the market is functioning and then conducted trade calls with dealers and distributors of the market. Post this we have started doing primary calls to consumers by equally segmenting consumers in regional aspects, tier aspects, age group, and gender. Once we have primary data with us we have started verifying the details obtained from secondary sources. Intended audience This report can be useful to industry consultants, manufacturers, suppliers, associations & organizations related to Animal Feed Industry, government bodies and other stakeholders to align their market-centric strategies. In addition to marketing & presentations, it will also increase competitive knowledge about the industry.