Global Animal Feeding Equipment Market Size to Grow at a CAGR of 5.60% in the Forecast Period of 2023-2028
The report studies the latest updates in the market, along with their impact across the market. It also analysis the market demand, together with its price and demand indicators. The report also tracks the market on the bases of SWOT and Porter's Five Forces Models.
Animal Feeding Equipment Market Size, Share, Trends, Industry Report, Key Player, Major Segments, and Forecast
The key highlights of the report include:
Market Overview (2018-2028)
• Forecast CAGR (2023-2028): 5.60%
New product launches, ongoing technological advancements in the management of animal feeding, an increase in the number of dairy farms worldwide, and significant cost savings connected with the management of livestock feeding, can be attributed to the rapid growth of animal feeding equipment market.
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Furthermore, it is anticipated that the use of varied feeding equipment for animals will be supported by the expansion in the size of dairy farms around the world, standardisation of feeding systems for improved performance, and the reduction in time and expense involved in feeding management. The rising consumer consumption of dairy and meat products is another major factor anticipated to fuel the expansion of the animal feeding equipment market.
The livestock sector is anticipated to grow significantly as a result of the growing demand for high-quality animal protein. Farmers are being encouraged to automate livestock feeding equipment by the rising demand for dairy and meat products around the world. This is done to increase animal productivity, promote sanitary enforcement, and lower labour costs. This is hence anticipated to fuel the animal feeding equipment market during the upcoming years. Meanwhile the demand for animal feeding equipment for companion animals in home settings is also on the rise as more people invest in specialised feeding equipment for their pets.
Animal Feeding Equipment Industry Definition and Major Segments
Animal feeding equipment refers to specialised devices that are used for feeding livestock and companion animals with ease, based on the species. These types of equipment are helpful in recreating natural feeding styles, encouraging animals to eat more and supporting their health. Various configurations are available for feeding individual and multiple animals at a single time.
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Based on technology, the market is segmented into:
• Manual Animal Feeding Equipment
• Automatic Animal Feeding Equipment
The market on the basis of feeder type is divided into:
• Linear Feeder
• Automatic Feeder
• Circular Feeder
On the basis of animal type, the market is bifurcated into:
Based on end user, the market is divided into:
• Home Settings
• Livestock Farms
On the basis of region, the market is segmented into:
• North America
• Asia Pacific
• Latin America
• Middle East and Africa
Animal Feeding Equipment Market Trends
One of the key market trends propelling the growth of the global animal feeding equipment market in the forecast period is the rising global food demand coupled with the expanding global population. Equipment used for feeding animals is essential for guaranteeing adequate feeding and for supplying nutrients, minerals, and vitamins to the animals. The use of animal feeding equipment for more profitable and sustainable livestock agriculture is rapidly increasing as proper nutrition helps animals grow, breed, and have a robust immune system to resist illnesses.
The growing use of electric and sustainable animal feeding equipment, which offers zero emissions and little noise, is being driven by the increase in environmental concerns. Additionally, the utilisation of renewable energy sources, such solar electricity, to run such equipment is growing, thus aiding the animal feeding equipment market. Animal feeding equipment reduces food waste while ensuring that each animal can eat in safety, comfort, and peace. It saves time and money on labour expenses related to feeding animals.
During the forecast period, the automatic animal feeding equipment segment is expected to lead the market in terms of revenue. The increase is linked to the livestock farmers' growing desire to increase the quality and productivity of their operations. These feeders are also increasing in popularity for companion animals in home settings as the pets can be fed automatically even if the owners are not home.
Key Market Players
The major players in the global animal feeding equipment market report are
• GEA Group Aktiengesellschaft
• Anderson International Corp
• Lely International N.V.
• Pellon Group Oy
• VDL Agrotech bv
• Agrologic Ltd
The report covers the market shares, capacities, plant turnarounds, expansions, investments and mergers and acquisitions, among other latest developments of these market players.
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