Press release
Compound Feed Market Counting Hefty CAGR Up To 2023 | by Industry Size, Shares and Revenue | Future Vision Footbridge by MRFR
Increasing demand for high nutrition animal feed products is driving the growth of the compound feed market. Furthermore, advance processing methods & technologies, and high opportunities in developing countries are positively supporting the growth of the market. With the growing consumer awareness regarding livestock health, growing concerns about animal nutrition and their healthy eating habits, the demand for compound feed has increased to a greater extent.
However, the high cost of processing and raw materials may hamper the compound feed market over the review period. The market players are responding to these new opportunities by expanding their product lines, which has boosted the share of the compound feed in the global market. The global compound feed market is expected to grow at a CAGR of 4.1% during the forecast period, 2017-2023.
Market Forecast:
Compound feed market is observing an exponential growth based on its high usage in the feed industry. They offer additional nutrients such as minerals, antioxidants, amino acids, and vitamins to the animal feed. They are used for improving the feed quality and animal health by reducing livestock diseases. The major types of compound feed include starter, grower, and finisher feed.
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Key Players:
Some of the key players profiled in the global compound feed market: Archer-Daniels-Midland Company (U.S.), Farmers Group, Inc. (U.S.), Cargill Inc. (U.S.), Land O'Lakes, Inc. (U.S.), New Hope Group Co., Ltd. (China), Kent Nutrition Group, Inc. (U.S.), Nutreco N.V. (the Netherlands), Guangdong Haid Group Co., Ltd. (China), Feedone Co., Ltd. (Japan), and JD Heiskell & Co Inc. (U.S.)
Key Findings:
The demand for compound feed is high from poultry and livestock holders
Asia Pacific region is found to be an emerging market for compound feed
Jun 2017, Biomin has launched its innovative, next-generation phytogenic feed additive, Digestarom DC, to the Indian feed and livestock.
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Regional Analysis:
The global compound feed market is segmented into North America, Europe, Asia Pacific, and rest of the world (RoW). The Asia Pacific region is dominating the compound feed market followed by North America owing to rising population followed by increasing consumption of poultry and meat products in the developing regions. Moreover, China is the major producer & consumer of poultry and meat products, which, in turn, is driving the market of compound feed in the Asia Pacific region.
The U.S. dominates the North American compound feed market. Rising demand for poultry products in the North American region is likely to boost the compound feed market over the forecast period.
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