Press release
Swine Feed Market to grow at a CAGR of 5.27% between 2017 and 2023
Rising demand for pork worldwide is the major driver of swine feed market. The United States Department of Agriculture (USDA) has forecasted pork exports 3% higher, majorly due to strong demand in Asian and Latin American countries. Rising awareness among pig farmers, about various nutritional and beneficial feed additives, is another driving factor for the growth of swine feed market as farmers are using healthy and functional swine feed to raise swine production. Rising cases of diseases such as swine fever will continue to boost the demand for better swine feed throughout the forecast period. However, the ban on certain antibiotics to bed used in swine feed is restraining the growth of swine feed market.
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Anthelmintics segment experiencing strong demand
By feed type, swine feed market is segmented as antibiotics, anthelmintics, acidifiers, and others. The market for anthelmintics for swine feed is projected to witness a significant growth between 2017 and 2023 on account of rising awareness among pig farmers about parasitic worm infection which can severely affect pig production, thus reducing their profits.
APAC witnessing significant regional market growth
The rapid rise in the pork demand across APAC countries, is in turn, augmenting the demand for swine feed in the region. The rising volume of pork exports across different regions and countries is also encouraging pig farmers to use functional swine feed to keep pigs healthy and increase the yield rate.
This report also includes a study of strategies and product portfolios of some of the leading companies in the swine feed market. It consists of company profiles of the leading companies- Cargill Incorporated, Alltech, BASF SE, Royal DSM, Chr. Hansen Holding A/S, Kent Nutrition Group, Novus International, ADM Animal Nutrition, and Lallemand, Inc.
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