Press release
Horse Feed Market Report 2024: Strategies And Recent Developments | Allen And Page Ltd., Baileys Horse Feeds, Big V Feeds Inc., Cargill Incorporated, Equifirst Private Limited
Horse Feed Market Size
The Business Research Company offers in-depth market insights through Horse Feed Global Market Report 2024, providing businesses with a competitive advantage by thoroughly analyzing the market structure, including estimates for numerous segments and sub-segments.
Market Size And Growth Forecast:
The horse feed market size has grown strongly in recent years. It will grow from $8.16 billion in 2023 to $8.69 billion in 2024 at a compound annual growth rate (CAGR) of 6.5%. The growth in the historic period can be attributed to rise in equine population, rise in equestrian sports and racing, emerging markets, rise in outdoor activities.
The horse feed market size is expected to see strong growth in the next few years. It will grow to $11.35 billion in 2028 at a compound annual growth rate (CAGR) of 6.9%. The growth in the forecast period can be attributed to e-commerce and digital marketing, rise in disposable income, rising participation in recreational activities, aging horse population. Major trends in the forecast period include personalized nutrition, nutraceuticals and supplements, clean label products, biosecurity measures, smart feeding technologies.
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Market Segmentation:
The main types of horse feed are performance, senior or old, professional, mare and foal, and others. Performance horse feed is used for activities such as walking, trotting, cantering, running, jumping, and turning, and includes starch, cereal grains such as oats, corn, or barley, fats such as corn and soybean oil, flax, and rice bran, protein, and fiber. The different nutrition types include high fiber, low starch, high protein, and high fat, which include various ingredients such as cereals, supplements, cakes, meals, and others. The several forms include pellets, cubes, and powder. The different applications include online sales and offline retail.
Major Driver - Rising Horse Population Drives Growth In The Horse Feed Market
The growing horse population is contributing to the growth of the horse feed market. Horses are four-legged hoofed mammals. The rising horse population requires feed for health and growth. Horse feed offers advantages such as supplying protein, vitamins, calcium, and minerals, thereby improving the overall health and longevity of horses. For instance, according to the American Horse Council Foundation, a US-based foundation involved in scientific, charitable, and educational activities associated with the horse industry, in 2021, the horse population in the US reached 9.2 million. Therefore, the growing horse population is anticipated to propel the growth of the horse feed market going forward.
Competitive Landscape:
Major companies operating in the horse feed market include Allen And Page Ltd., Baileys Horse Feeds, Big V Feeds Inc., Cargill Incorporated, Equifirst Private Limited, Farmvet Agro Private Limited, ForFarmers N.V., HorseTech Nutrition, Purina Animal Nutrition LLC, Rowen Barbary Ltd., Triple Crown Nutrition Inc., West Feeds Inc., A-One Feed Supplements Ltd., Glanbia PLC., Hubbard Feeds Inc., Jupe Feeds Incorporated, Cavalor LLC, WES Enterprises L.P., Nutrena World Feeds, ADM Animal Nutrition, Blue Seal Feeds, Buckeye Nutrition, Country Acres Feed, Farnam Companies Inc., Hallway Feeds, Kalmbach Feeds Inc., Kent Nutrition Group, LMF Feeds Inc., Manna Pro Products LLC, McCauley Bros Inc., Tuffy's Pet Foods, Poulin Grain Inc., Progressive Nutrition, Semican Inc., Southern States Cooperative Inc., Standlee Premium Western Forage, Tribute Equine Nutrition
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Top Trend - Innovative Horse Feed Products Revolutionize The Market
Product innovations are the key trends gaining significant popularity in the horse feed market. Major market players are concentrating their efforts on launching new and innovative products such as targeted amino acid supplementation, equine microbiome optimization supplements, immunomodulatory nutrition, and veterinary diets for equine disease conditions that aid in improving the nutritive quality of the feed, improving digestibility, palatability, and physiology of the horses. For instance, in 2021, Saracen Horse Feeds, a UK-based horse feed producing company, launched Saracen RE-LEVE cubes that are low in sugar, whole cereal, and alfalfa free. It contains super fibers and oils as an alternative source of energy and also live yeast to help maintain optimum digestive tract health. Additionally, it is encapsulated with a persistent blackcurrant flavor.
The Table Of Content For The Market Report Include:
1. Executive Summary
2. Horse Feed Market Characteristics
3. Horse Feed Market Trends And Strategies
4. Horse Feed Market - Macro Economic Scenario
5. Horse Feed Market Size And Growth
…..
27. Horse Feed Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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