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Compound Feed Market Demand, Growth Prediction, Segments And Outlook By 2033
Compound Feed Market Overview
The Business Research Company presents an extensive market research report on the Compound Feed Global Market Report 2024, furnishing businesses with a competitive edge through a detailed examination of the market structure, encompassing estimates for various segments and sub-segments.
Furthermore, the report highlights on emerging trends, significant drivers, challenges, and opportunities, providing all necessary data for thriving in the industry. This report market research offers a comprehensive perspective, including an in-depth analysis of the present and future scenarios within the industry.
Market Sizing:
The compound feed market size has grown steadily in recent years. It will grow from $461.41 billion in 2023 to $479.84 billion in 2024 at a compound annual growth rate (CAGR) of 4.0%. The growth in the historic period can be attributed to livestock production growth, increased meat consumption, poultry industry expansion, aquaculture development, efficiency in feed conversion, government support.
The compound feed market size is expected to see steady growth in the next few years. It will grow to $547.14 billion in 2028 at a compound annual growth rate (CAGR) of 3.3%. The growth in the forecast period can be attributed to population growth, urbanization, consumer preferences, environmental regulations, animal welfare standards. Major trends in the forecast period include precision feeding technologies, customized feed solutions for livestock, antibiotic-free and hormone-free feeds, digitalization of supply chain management, collaboration for research and innovation.
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Key Market Players:
Major companies operating in the compound feed market report are Cargill Inc., The Archer-Daniels-Midland Company, Tyson Foods, New Hope Liuhe Co. Ltd, Charoen Pokphand Food, CP Group, Land O'Lakes Inc, Smithfield Foods, Guangdong Haid Group Co Ltd, DuPont de Nemours Inc, Wen's Food Group, Nutreco N.V, Elanco Animal Health Incorporated, De Heus Vietnam LLC, Forfarmers NV, Alltech Inc., J. D. Heiskell & Company Inc, Hubbard Feeds, The Maschhoffs, Ballance Agri-Nutrients Ltd., DeKalb Feeds, Purina Animal Nutrition LLC., United Animal Health, Kent Nutrition Group, Prestage Farms, Hi-Pro Feeds, Heiskell & Co., Feed One Co. Ltd, Brookside Agra, Weston Milling Animal Nutrition, Provimi, Aller Aqua Group
Market Drivers:
An increase in the demand for meat and aquaculture products is expected to propel the growth of the compound feed market going forward. A meat product is designed for human consumption and contains flesh from animals such as cattle, buffalo, goats, sheep, pigs, and fowl; whereas aquaculture is the commercial, recreational, and scientific multiplication and management of aquatic plants, animals, and other species. The compound feed contains all the essential nutrients to keep farmed fish healthy and thereby increases the demand for meat and aquaculture products. For instance, in July 2021, according to a report released by OECD iLibrary, a France-based online library of statistics, worldwide animal protein consumption is expected to rise by 14% by 2030. Therefore, an increase in the demand for meat and aquaculture products is driving the compound feed market growth.
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https://www.thebusinessresearchcompany.com/report/compound-feed-global-market-report
The compound feed market covered in this report is segmented -
1) By Ingredient: Cereals, Cakes and Meals, Byproducts, Supplements
2) By Form: Solid, Liquid
3) By Source: Plant Based, Animal Based
4) By Animal Type: Cattle, Swine, Poultry, Aquaculture, Other Animals
The report answers the following questions:
What are the primary factors propelling the market during the projected period?
In which region is the most substantial growth expected?
Which trend will take center stage in the upcoming period?
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