Press release
Animal Feed Market Expected to Reach Tremendous Growth by 2027
Animal Feed
Industrial livestock production has undergone substantial transformation owing to technological advancements in animal vaccinations and antibiotics. According to the Food and Agriculture Organization (FAO) more than half of the world's pork and poultry, one-tenth of its beef and mutton and more than two-thirds of its egg supply have originated from industrial livestock production. The development of industrial livestock production across the globe has led to significant demand for highly nutritious animal feed products. The surge in the industrial production of mutton, beef, pork, and poultry over grazing and mixed farming has necessitated the demand for high grade animal feed products.
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Top Key Players:-Archer Daniels Midland Co., Cargill Inc., Evonik Industries AG, ForFarmers N.V., and Land O'Lakes, Inc., Guangdong Haid Group Co. Ltd, New Hope Group Co. Ltd, Nutreco NV, and Perdue Farms, Inc.
The COVID-19 outbreak has affected economies and industries in various countries due to lockdowns, travel bans, and business shutdowns. Food and feed processing is one of the major industries facing serious disruptions such as supply chain breaks, technology events cancellations, and office shutdowns as a result of this outbreak. China is the hub of manufacturing and the largest raw material supplier for various industries worldwide, and disturbed operations in the country are affecting several businesses from all other countries dependent on its manufacturing sector. The overall market breakdown due to COVID-19 is also affecting the growth of the animal feed market due to shutting down of factories, obstacle in supply chain, and downturn in world economy.
The report segments the global animal feed marketas follows:
Animal Feed Market, by Form
• Pellets
• Crumbles
• Mash
• Others
Animal Feed Market, by Livestock
• Poultry
• Ruminants
• Swine
• Aquaculture
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The Insight Partners is a one-stop industry research provider of actionable intelligence. We help clients in getting solutions to their research requirements through our syndicated and consulting research services. We are a specialist in Electronics and Semiconductor s, Pharmaceuticals, Chemicals and Materials, Automotive and Transportation, Aerospace and Defense, Electronics and Semiconductors, Technology, Media, and telecommunication, Manufacturing and Construction.
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