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Animal Feed Ingredients Market Reached USD 170 billion in 2019 and predicted to grow at CAGR of 5.8% by 2027 | Size, Share & Growth Forecast
Animal Feed Ingredients Market
The Animal Feed Ingredients Market was estimated around USD 170 billion in 2019 and predicted to grow at CAGR of 5.8% over the forecast period (2020-2027).
For Additional Insights, Click to Access Complete Report - https://www.gmiresearch.com/report/animal-feed-ingredients-market/
The factors driving the growth of Animal Feed Ingredients Market includes growing focus on providing adequate nutritional values to livestock, increasing population of livestock around the world and rising awareness about the benefits of oilseeds and soybean derived animal feed products. According to the report published by Statista, the population of cattle worldwide was calculated 978 million in 2019 and is expected to reach around 1 billion by the end of 2022, which will accelerate the Animal Feed Ingredients Market size in the approaching years. Moreover, financial assistance provided by Governments to farmers in the form of subsidies and price support, growing consumption of meat and meat related products and rising consumers preference for protein rich food items, are some of the additional factors supplementing the market growth. In addition, the increasing investments by leading players on research and development, strategic mergers and partnerships between key companies, rapid urbanization, and growing population growth rates, are further contributing towards the market growth.
However, growth of the Animal Feed Ingredients Market is hindered due to variations in the prices of raw materials.
The leading players operating in the market are Ingredion Incorporated, Phibro Animal Health Corporation, Darling Ingredients, Cargill, Incorporated, Archer Daniels Midland Company, Bunge Limited, BASF SE, Addcon Group, Aliphos Belgium S.A., Kemin Industries Inc., Beidahuang Group, Evonik Industries AG and Nutreco N.V., among others.
Based on Source. The Oilseeds segment is predicted to grow at a significant CAGR over the forecast period
Oil seeds enhances health and productivity of animals and is increasingly used in cattle, swine, and chicken feeds, are some of the factors responsible for the segment's growth.
Based on Livestock, the Poultry segment is projected to expand at a remarkable CAGR during the forecast period
Rising awareness about the health benefits of poultry-based products and growing demand for protein rich food items, are propelling segment's growth.
Based on Region, the Asia-Pacific region is anticipated to hold the highest market share during the forecast period
Growing demand for protein rich food items, rise in the launch of innovative food products, rapid urbanization, increasing per capita incomes and high population growth rates, are some of the important factors augmenting the market growth in Asia-Pacific region.
Key Developments
In 2019, Archer Daniels Midland Company acquired Neovia, which will expand Archer Daniels Midland's business in animal nutrition industry.
In 2019, BASF SE launched new phytase Natuphos E for the feed industry in Indonesia, which reduces phosphorus emissions from livestock.
In 2018, BASF SE introduced its Lucantin NXT product line for animal nutrition to deliver longer shelf-life, homogeneity, and outstanding stability.
Market Segmentation
Segmentation by Source
Cereals
Corn
Oilseeds
Soybeans
Others
Segmentation by Livestock
Poultry
Broiler
Layer
Turkey
Others
Swine
Starter
Grower
Sow
Cattle
Dairy
Calf
Other
Aquaculture
Salmon
Trouts
Shrimps
Carp
Others
Others
Segmentation by Region
Asia Pacific
China
Japan
India
Rest of APAC
North America
United States of America
Canada
Europe
United Kingdom
Germany
France
Spain
Rest of Europe
RoW
Brazil
South Africa
Saudi Arabia
UAE
About GMI Research
GMI Research is a market research and consulting firm which provides market insights and intelligence across 12 major sectors helping our clients in making effective investment and business decisions.
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