Animal Feed Market Size 2021, Impressive Industry Growth Report 2028

The research report "Animal Feed Market By Feed Type (Medicated Feed (Broilers Medicated Feed, Layers Medicated Feed, Dairy Medicated Feed, Beef Medicated Feed, Swine Medicated Feed, Equine Medicated Feed, Aqua Medicated Feed, and Others Medicated Feed), Non-medicated Feed (Broilers Non-medicated Feed, Layers Non-medicated Feed, Dairy Non-medicated Feed, Beef non-medicated Feed, Swine Non-medicated Feed, Equine Non-medicated Feed, Aqua Non-medicated Feed and Others Non-medicated Feed)), By Animal Type (Farm Animals (Broilers, Layers, Dairy, Beef, Swine, Equine), Aquaculture and Others)), Geography (North America, Europe, Asia-Pacific, South America and, The Middle East & Africa) and Forecast to 2028- Global/Region/Country Forecast to 2028." Animal feed market size is estimated to be valued at around USD 500 billion in 2021 and is poised to grow at a considerable CAGR rate of 3.5%over the forecast period 2022-2028.

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An overview on Animal Feed Market
The global demand for dairy products meat has fuelled the animal feed market. Increasing meat consumption and changing customer preferences are increasing the demand for animal feed on a global scale. Food demand will increase by 61% by 2050 according to the United Nations' Food and Agriculture Organization (FAQ). Increase in the consumption of meat and other end products like eggs and milk and rapid urbanization will boost the animal feed market growth during the forthcoming years. Animal protein production is anticipated to grow by 1.6 percent for every year between 2010 and 2050 with meat product anticipated to increase by almost 72%, dairy by 54% and aquaculture by 91%. By combining enriched nutrients with the feedstuff, the feed helps to augment the capacities of the animals, speeding up the development and weight increase and developing immunity. Disease outbreaks in animals are impelling animal feed, which augments animal health and helps in the proper regulation of the food chain.

Growing demand for protein-rich animal feed ingredients has chiefly resulted from the modernization of animal farming, fuelling the feed conversion rate. Proteins and other elements are the key building blocks for finest growth in farm animals. Animal feed proteins work as a good energy source such as minerals like calcium and phosphorus and necessary amino acids like methionine and lysine. Protein feeds including fish meals, feather meals, blood meals, animal protein meals, bone meals and other protein meals and feeds are in high demand as people become more aware regarding the health benefits of proteins for animals.

North America market accounted for major share in the Animal Feed Market:
North America animal fed market is likely to witness the highest revenue share in 2021 and it is anticipated to grow rapidly in the following years. Increasing focus on improving the nutrient content for the animals health and growing beef and poultry production in the region will assist the animal feed market grow in North America. Europe holds a considerable share of the global market and projected to witness rapid growth in the upcoming period because of the growing consciousness regarding the health advantages of proteins for animal health, which has created a considerable demand for animal feed.

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Competitive Analysis - Animal Feed Market
Major players working in the animal feed market are Adisseo France S.A.S, Ajinomoto Co., Inc., Archer Daniel Midland (ADM), BASF SE, Biomin Holdings Gmbh and Cargill, Incorporated.

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