Press release
Animal Feed Market Size, Trends, In-depth Analysis, and Research Report Forecast up to 2028: Kemin Industries, Inc. and Nutreco N.V. are key players.
The animal feed market is expected to grow at a CAGR of 3.96% to reach a market size worth US$508.531 billion by 2028.The prime factors propelling the growth of the animal feed market are increasing demand for meat and dairy products, growth in the aquaculture industry, rising concerns about animal health and nutrition, and advancements in technology for feed production.
The report shows that the animal feed market is expected to grow robustly during the forecast period.
Animal feed is a critical component of the global food supply chain, as it provides the necessary nutrients for animals to grow and produce food products such as meat, milk, and eggs. The animal feed market is influenced by various factors, including shifts in consumer preferences for animal-based products, changes in animal husbandry practices, advancements in feed technology, and regulations governing animal welfare and food safety.
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The animal feed market has been segmented into type, livestock, raw material, and geography.
The market has been classified into fodder & forage, and compound feed by type. Fodder & forage refers to the naturally occurring plant materials fed to livestock and other animals. The fodder & forage market includes products such as hay, silage, and pasture grasses. The fodder & forage segment is primarily driven by the demand for natural and organic feed products, which are perceived to be healthier and more environmentally sustainable than synthetic feed products. Compound feed refers to processed products manufactured using a combination of different ingredients, such as grains, oilseeds, and protein sources. The compound feed market includes pellets, concentrates, and mixed feeds.
The market has been classified by livestock into pork, aquatic animals, cattle, poultry, and others. The demand for pork meat, a significant protein source in many parts of the world, primarily drives the pork feed market. In addition, the nutritional requirements of pigs vary depending on their age, weight, and breeding purposes, which creates a demand for specialized feed products. The aquatic animal feed market includes fish feed, shrimp feed, and other aquatic animal feed products. The aquatic animal feed market is primarily driven by the growth of the aquaculture industry, which has expanded rapidly in recent years to meet the increasing demand for seafood products. Poultry feed typically consists of grains, protein sources, and supplements such as vitamins and minerals.
The market has been classified by raw material, soy, corn, rendered meal, etc. The soy feed market is primarily driven by the high protein content of soybean meal, which makes it an attractive ingredient for animal feed manufacturers. Soybean meal is a by-product of soybean oil extraction and is widely used as a protein source in animal feeds for poultry, swine, and aquaculture. Corn is also a versatile ingredient used in different forms, such as corn grain, corn gluten feed, and corn gluten meal. The rendered meal market is influenced by factors such as the availability and cost of raw materials, government regulations related to food safety and animal welfare, and the development of alternative protein sources such as insect meal and plant-based proteins.
The market is classified geographically into North America, South America, Europe, Middle East and Africa and the Asia Pacific. The North American animal feed market is one of the largest in the world, driven by strong demand for meat and dairy products. The Asia Pacific animal feed market is one of the fastest-growing markets in the world, driven by a rapidly expanding population and increasing urbanization. The market is characterized by many small and medium-sized companies, with China, India, and Japan being the most significant markets.
The major players operating in the animal feed market are Alltech, Cargill, Incorporated, Kemin Industries, Inc., Nutreco N.V., Charoen Pokphand Foods PCL, BRF S.A., Purina Animal Nutrition LLC., New Hope Group, ADM Animal Nutrition, and Kent Nutrition Group.
This Animal Feed Market has been analyzed into the following segments:
• By Type
o Fodder & Forage
o Compound Feed
• By Livestock
o Pork
o Aquatic animal
o Cattle
o Poultry
o Others
• By Raw Material
o Soy
o Corn
o Rendered Meal
o Others
• By Geography
o North Americas
• USA
• Canada
• Mexico
o South America
• Brazil
• Argentina
• Others
o Europe
• UK
• Germany
• France
• Spain
• Italy
• Others
o Middle East & Africa
• Saudi Arabia
• UAE
• Israel
• South Africa
• Others
o Asia Pacific
• Japan
• China
• India
• South Korea
• Indonesia
• Thailand
• Vietnam
• Philippines
• Malaysia
• Others
Related Reports:
• Animal Feed Antioxidants Market
https://www.knowledge-sourcing.com/report/animal-feed-antioxidants-market
• Insect Animal Feed Market
https://www.knowledge-sourcing.com/report/insect-animal-feed-market
• Animal Feed Prebiotics Market
https://www.knowledge-sourcing.com/report/animal-feed-prebiotics-market
Contact Us:
Knowledge Sourcing Intelligence
Phone: +1-850-250-1698
E-Mail:info@knowledge-sourcing.com
Knowledge Sourcing Intelligence (KSI) is a market research and consulting firm publishing market research studies across ten industry verticals. KSI has a team of experienced and young professionals who focus on delivering high-quality research services to enterprises, non-government organizations, government agencies, and research institutes and organizations. We publish hundreds of reports annually centering on the niche and latest technologies. In addition, we engage with key decision-makers and stakeholders across the value chain to provide clients with a detailed analysis and bird's-eye view of the market with complete market dynamics, statistical forecasts, competitive analysis, key trends, market drivers, and challenges, and strategic recommendations for making informed decisions. Our success lies in our analysts' efforts to meet client expectations by delivering quality work within the stipulated deadlines.
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