Compound Feed Market is Projected to Reach $668.3 billion by 2028

The compound feed market is projected to experience significant growth in the coming years, according to a research report titled "Compound Feed Market by Ingredients, Form, Livestock, Source, and Region - Global Forecast to 2028" published by MarketsandMarkets. The report states that the market is estimated to be worth USD 541.2 billion in 2023 and is expected to reach USD 668.3 billion by 2028, with a compound annual growth rate (CAGR) of 4.3% during the forecast period.

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The increasing global population is driving the demand for food, including meat, dairy, and poultry products. Compound feed plays a vital role in providing essential nutrients to livestock, enhancing their growth and productivity. As living standards improve in many developing countries, there is a rise in meat consumption, leading to an increased demand for compound feed. Compound feed is designed to optimize nutrient utilization and improve feed conversion efficiency in animals, ensuring they receive the necessary nutrients for growth and development.

Cereals, such as corn and wheat, are the primary ingredients in compound feed, accounting for the largest share of the market in 2023. Cereals are rich in carbohydrates and provide energy to animals, along with protein, fiber, and essential minerals. Their widespread availability and cost-effectiveness make them a preferred choice for inclusion in compound feed formulations.

Poultry is the dominant livestock segment in the compound feed market, holding the largest share in 2023. Poultry, particularly chicken, is highly consumed globally due to factors like affordability, versatility, and nutritional value. The demand for poultry products, including meat and eggs, drives the need for poultry compound feed.

In terms of feed form, mash feed holds the largest share in the compound feed market. Mash feed consists of finely ground ingredients that are mixed together, resulting in a uniform texture. This form is beneficial for young animals or those with delicate digestive systems, as it is easier to consume and digest. The grinding process increases the surface area of the ingredients, improving nutrient availability and absorption, leading to enhanced growth rates and feed efficiency in animals.

Plant-based feed accounts for the largest share in the compound feed market by source. Plant-based animal feed is considered more sustainable and environmentally friendly compared to feed containing animal by-products. It relies on crops like soybeans, corn, and wheat, which can be grown in a controlled and sustainable manner. Plant-based feed is also perceived as healthier for animals and reduces the risk of diseases associated with animal-based feed.

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The Asia Pacific region dominates the compound feed market, both in terms of value and growth rate. With a population of around 4.3 billion people, this densely populated region, including countries like China and India, has witnessed continuous population growth. The rising demand for animal-derived products like meat, milk, and eggs drives the need for compound feed to sustain livestock and poultry production. As incomes increase and dietary preferences evolve, there is a shift towards greater consumption of animal protein, fueling the demand for compound feed in the region.

Key players in the compound feed market include Cargill, Inc., ADM, Charoen Pokphand Foods, New Hope Group, Land O'Lakes, Nutreco N.V, Alltech, Inc., Guangdong Haid Group Co., Ltd, Weston Milling Group, and Feed One Co.

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