Saudi Arabia Animal Feed Market is Predicted to Expand at a Significant CAGR during the Forecast Period 2021-2028 | Size & Research Report

Saudi Arabia Animal Feed Market

The Saudi Arabia Animal Feed Market is expected to grow at a robust CAGR over the forecast period (2021-2028).

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The factors driving growth of the Saudi Arabia Animal Feed Market includes growing consumption of meat and processed food products, Government policies supporting animal feed ingredients, increasing consumers inflation towards adopting healthy lifestyles and improvements in the living standards. For instance, the revenue generated from the sales of meat products across Saudi Arabia is expected to reach USD 5.10 billion by the end of 2022, growing at a CAGR of 8%, over the forecast period (2022-2027), which will accelerate the Saudi Arabia Animal Feed Market size in the approaching years. Moreover, growing adoption of advanced technologies by manufacturers, rising awareness about the benefits offered by feed additives, increase in the production of livestock and rapid urbanization, are some of the additional factors supplementing the market growth. In addition, the increasing investments by leading players on research and development, rise in the launch of innovative products, strategic mergers and alliances between companies and growing disposable incomes, are further contributing to the market growth.

Based on Ingredient, the Barley segment is predicted to grow at a significant CAGR during the forecast period

As per the Saudi Arabia Animal Feed Market Forecast, growing consumption of corn across Saudi Arabia, rising per capita incomes and rapid urbanization, are some of the factors pushing growth of the segment. For instance, the Corn imports across Saudi Arabia are estimated to reach 4.4 million metric tonnes during 2018-19, showing an increase of 11% as compared to 2017-18 imports, which is expected to propel the market growth in coming years.

Based on Livestock, the Poultry segment is anticipated to expand at a remarkable CAGR over the forecast period

According to the Saudi Arabia Animal Feed Market Report, increasing production of chicken meat, Government providing support to poultry producers in the form of interest-free loans and rebates, are augmenting the segment's growth.

Key Developments

In 2020, Saudi Ministry of Environment, Water and Agriculture launched a new animal feed policy, to provide direct payment to poultry and livestock producers instead of providing import subsidies. The total budget for this is USD 320 Million a year.
In 2020, Saudi Arabia Grain Organization entered into a contract to purchase barley for 1.68 million MT for July to September 2020, which was 12% lesser, i.e., approx. 1.91 million MT as compared to the previous year.

Market Segmentation

Segmentation by Ingredient

Barley
Corn
Soy
Others

Segmentation by Livestock

Poultry
Cattle
Goat
Sheep
Camel
Others

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