Animal Feed Market revenues to obtain US$ 548,936.55 million by 2027

According to our latest market study on "Animal Feed Market Forecast to 2027 - COVID-19 Impact and Global Analysis by Form (Pellets, Crumbles, Mash, Others); Livestock (Poultry, Ruminants, Swine, Aquaculture, Others); and Geography," the market accounted for US$ 406,640.10 million in 2019 and is expected to grow at a CAGR of 3.3% during 2019-2027 to reach US$ 548,936.55 million by 2027. The report highlights key factors driving the market growth and prominent players along with their developments in the market.

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Animal feed is basically food items prepared for the consumption of livestock or poultry. These products are carefully produced and blended with several nutritional ingredients, which are essential to maintain the good health of animals. Some of the common feeds mostly include pasture grasses, cereal grains, hay & silage crops, and other by-products of food crops, including pineapple bran, brewers' grains, also sugar beet pulp. The animal feed industry mostly encompasses various sectors like cattle, poultry, and aquaculture.

The studied market in the North America region is expected to grow at the highest CAGR of 3.6% during the forecast period. The growth of the animal feed market in this region is mainly attributed to the huge and easy availability of raw materials required to produce animal feed. Transforming lifestyle and growing awareness of the consumers towards the health issue related to animals has significantly influenced the animal feed market in North America. With an increasing focus on animal health, the demand for animal feed in the region has increased substantially. The growing concern towards maintaining the health of animals with the rapid rise in animal farming and surging product innovations are some factors that are leading to an increase in demand for animal feed in the North American countries. All these factors are further propelling the market growth in this region.

Impact of COVID-19 on Stevia Market

As of July 2021, the US, India, Brazil, Russia, Spain, France, the UK, Turkey, and Italy, are some of the worst affected countries in terms of confirmed cases and reported deaths. The COVID-19 is affecting economies and several industries in different countries due to lockdowns, travel bans, and business shutdowns. The shutdown of various manufacturing plants and factories has also been affected the global supply chains also negatively impacted the manufacturing, delivery schedules, and sales of goods in the global market. In addition, the global travel bans further imposed by countries in Europe, Asia-Pacific, and North America are also affecting business collaborations as well as partnership opportunities.

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Market Insights

Increasing Demand for Protein Rich Animal Feed

The industrialization of animal farming has mainly led to a rise in demand for protein-rich animal feed ingredients also has increased the feed conversion rate. Industrially farmed livestock are chiefly fed on concentrates prepared from cereal & vegetable protein, including soybean meals, mainly to assist them in gaining weight also to produce protein-rich meat. Farm animals mainly depend on proteins as well as other elements as the building blocks essential for good growth. Proteins in animal feeds are known as an excellent source of energy, minerals such as calcium & phosphorus, and essential amino acids including lysine & methionine. The growing awareness towards the health benefits of proteins on animal health has further created substantial demand for protein feeds, including animal protein meals, fish meals, bone meals, feather meals, blood meals, and other protein meals & feeds. As livestock and farm animals highly contribute to the global food supply chain, the demand for protein-rich and nutritious animal feeds is presumed to grow in the forecast period. The constantly burgeoning demand for protein-rich animal feeds to promote growth in livestock at all stages of life is anticipated to drive the overall animal feed market.

Form Insights

Based on form, the global animal feed market is segmented into pellets, crumbles, mash, and others. In 2018, the pellets segment dominated the animal feed market. Livestock, including cattle, cows, pigs, camels, sheep, deer, rabbit, alpaca, etc., are grown for their meat, leather, fur, milk, eggs, and wool. Many of this livestock can further be fed with pellet form of feed because feed pellets include higher nutrition density, more comprehensive nutrition, and higher economic benefits. These pallets can also be digested, absorb, plus conserve better by these animals and further easier to store & transport compared to traditional roughage. Generally, livestock feed pellets have four types, including pure forage (grass) feed pellets, concentrated feed pellets, complete diet feed pellets, and premix feed pellets. Feed pallets can be produced by utilizing a grinding machine that can crush the maize & soya bean meal or other ingredients into a fine powder; then, the fine powder can further mix with the wheat bran, bone meal, microelement, vitamin, and other raw materials to make the complete feed mesh.

GLOBAL ANIMAL FEED MARKET SEGMENTATION

Animal Feed Market – By Form
Pellets
Crumbles
Mash
Others

Animal Feed Market – By Livestock
Poultry
Ruminants
Swine
Aquaculture
Others

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Key points from Table of Content:

1. Introduction

2. Key Takeaways

3. Research Methodology

4. Animal Feed Market Landscape

5. Animal Feed Market –Market Dynamics

6. Animal Feed– Global Market Analysis

7. Global Animal Feed Market Analysis – By Form

8. Global Animal Feed Market Analysis – By Livestock

9. Animal Feed Market – Geographic Analysis

10. Overview- Impact of COVID-19 outbreak

11. Impact of COVID-19 Pandemic on Global Animal Feed Market

12. Industry Landscape

13. Animal Feed Market –Company Profiles

14. Appendix

LIST OF TABLES

LIST OF FIGURES

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This release was published on openPR.