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Feed Software Market to be Worth $456.1 Million by 2030
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According to this latest publication from Meticulous Research®, the feed software market is expected to register a CAGR of 6.2% from 2023 to 2030 to reach $456.1 million by 2030. The growth of this market is attributed to the adoption of digital technologies and automation in the animal feed industry, the growing animal population, increasing demand for healthy animal-based food products, increasing animal health expenditure and pet insurance, and the growing need to reduce feed production costs. Additionally, Integration with IoT and big data and emerging economies offer significant growth opportunities for feed software vendors. However, low animal health awareness in developing countries may restrain the feed software market growth.
The feed software market is segmented based on type, deployment mode, animal type, end user, and geography. The study also evaluates industry competitors and analyses the market at the regional and country levels.
Based on type, the feed software market is segmented into feed formulation software, animal simulation model, and other types. In 2023, the feed formulation software segment is expected to account for the largest share of the feed software market. The large market share of this segment is attributed to increased animal feed production, high demand for customized feed for animals, and a rise in focus on feed production optimization.
Based on deployment mode, the feed software market is segmented into on-premise software and cloud-based software. In 2023, the on-premise software segment is expected to account for the larger share of the feed software market. However, the cloud-based software segment is expected to register the highest CAGR during the forecast period. Cloud-based feed software solutions are gaining popularity due to their advantages, such as scalability, flexibility, and cost efficiency. Furthermore, these cloud-based systems offer real-time data access, making them ideal for businesses with multiple locations.
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Based on animal type, the feed software market is segmented into poultry, ruminants, swine, aquaculture, pets, and other animal types. In 2023, the poultry segment is expected to account for the largest share of the feed software market. The large market share of this segment is attributed to increasing poultry meat and egg consumption and the increasing popularity of poultry meat among fitness enthusiasts as the least expensive source of protein. According to OECD‐FAO Agricultural Outlook 2021-2030, global poultry meat production in 2022 was 138.8 million tonnes, an increase of 0.6% from 2021 and is expected to grow by 5.9% by 2030. However, the aquatic animal segment is expected to register the highest CAGR during the forecast period.
Based on end user, the feed software market is segmented into feed producers, animal farmers, nutritional professionals, consulting companies, veterinarians, and other end users. In 2023, the feed producers segment is expected to account for the largest share of the feed software market. Feed software helps producers create high-quality, consistent, cost-effective feed formulations while improving efficiency and ensuring compliance with regulatory requirements. The large market share of this segment is attributed to the increasing global demand for animal protein, increasing disposable income, and increasing demand for safe & nutritious animal food production.
Based on geography, in 2023, North America is expected to account for the largest share of the feed software market. North America's major market share is attributed to the high awareness about the quality of meat-based products supporting customized feed trends for animals, increased consumption of animal-based products, high adoption of digital technologies & automation in production systems, and high concentration of feed-producing companies in the region. However, Asia-Pacific is projected to register the highest CAGR during the forecast period.
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Key Players
The key players operating in the feed software market are Adifo NV (Belgium), PrairiE Systems, LLC (U.S.), Cultura Technologies (Georgia), Bluestar Adisseo Company (China), Dhi Computing Service, Inc. (U.S.), Easy Automation, Inc. (U.S.), Landmark feeds, Inc. (Canada), Supervisor Systems (U.S.), AgroVision B.V. (Netherlands), MTech-Systems (Georgia), Feedlogic Corporation (U.S.), Cargill, Incorporated (U.S.), Dalex Livestock Solutions LLC (U.S.), Evonik Industries AG (Germany), Format Solutions, Inc. (U.S.), GLOBALVETLINK, L.C. (U.S.), Agentis Innovations Ltd (Cyprus), Animal Feed Formulation Software (U.S.), GEOSAN DEVELOPMENT s.r.o (South Korea), and Kemin Industries, Inc. (U.S.).
Key questions answered in the report-
Which are the high-growth market segments in terms of type, deployment mode, animal type, end user, and country/region?
What is the historical market for feed software across the globe?
What are the market forecasts and estimates for the period of 2023 to 2030?
What are the major drivers, restraints, challenges, opportunities, and trends in the feed software market?
Who are the major players in the global market, and what are their market shares?
Who are the major players in various countries, and what are their market shares?
How is the competitive landscape?
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