Feed Software Market Surging to $456.1 Million by 2030

Redding California, February 9, 2024- Meticulous Research®, a distinguished global market research powerhouse, has released a groundbreaking report titled 'Feed Software Market by Type (Feed Formulation, Animal Simulation Model), Deployment Mode (On Premise, Cloud-based Software), Animal Type (Poultry, Ruminants, Aquaculture, Pet), End User (Feed Manufacturers, Animal Farmers) - Global Forecast to 2030.' This comprehensive analysis predicts that the feed software market will achieve a robust Compound Annual Growth Rate (CAGR) of 6.2% from 2023 to 2030, reaching an impressive $456.1 million by the end of the forecast period.

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The accelerating growth of the feed software market is attributed to the increasing adoption of digital technologies and automation in the animal feed industry. Factors such as a rising global animal population, heightened demand for healthy animal-based food products, increased expenditure on animal health and pet insurance, and the imperative need to curtail feed production costs contribute to this upward trajectory. Additionally, the integration with Internet of Things (IoT) and big data, along with emerging economies, presents substantial growth opportunities for feed software vendors. However, the market faces constraints from low animal health awareness in developing countries.

The feed software market is meticulously segmented based on type, deployment mode, animal type, end user, and geography. The report not only evaluates industry competitors but also provides in-depth analysis at the regional and country levels.

Type-wise segmentation includes feed formulation software, animal simulation model, and other types. In 2023, the feed formulation software segment is expected to dominate the market, driven by increased animal feed production, a surge in demand for customized feed, and a heightened focus on feed production optimization.

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Deployment mode segmentation comprises on-premise software and cloud-based software. The on-premise software segment is projected to account for the larger share in 2023, while the cloud-based software segment is anticipated to register the highest CAGR during the forecast period. The growing popularity of cloud-based solutions is attributed to their scalability, flexibility, and cost efficiency, providing real-time data access ideal for businesses with multiple locations.

Animal type segmentation includes poultry, ruminants, swine, aquaculture, pets, and other animal types. In 2023, the poultry segment is expected to hold the largest market share, fueled by increasing poultry meat and egg consumption. However, the aquatic animal segment is projected to witness the highest CAGR during the forecast period.

End user segmentation encompasses feed producers, animal farmers, nutritional professionals, consulting companies, veterinarians, and other end users. In 2023, the feed producers segment is projected to account for the largest market share, driven by the increasing global demand for animal protein, rising disposable income, and the growing need for safe and nutritious animal food production.
Geographically, North America is poised to dominate the feed software market in 2023, attributed to high awareness about meat product quality, increased consumption of animal-based products, widespread adoption of digital technologies and automation, and a 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 driving innovation and growth in the feed software market include 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.).

Mr. Khushal Bombe
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This release was published on openPR.