Feed Software Market Projected to Surge to $456.1 Million by 2030

Redding California, March 8, 2024 - Meticulous Research®, a leading market intelligence provider, has unveiled its latest exclusive 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 Users (Feed Manufacturers, Animal Farmers)-Global Forecast to 2030." The report forecasts a staggering growth, anticipating the feed software market to reach $456.1 million by 2030, showcasing a Compound Annual Growth Rate (CAGR) of 6.2% from 2023 to 2030.

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The unprecedented growth in the feed software market is attributed to several key factors, including the widespread adoption of digital technologies and automation within the animal feed industry, a surge in the 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. Additionally, the integration of Internet of Things (IoT) and big data, coupled with opportunities presented by emerging economies, positions feed software vendors for substantial growth. However, low animal health awareness in developing countries remains a challenge to the market's expansion.

Key Insights from the Feed Software Market Study:
Dominance of Feed Formulation Software Segment: In 2023, the feed formulation software segment is anticipated to seize the largest market share, driven by increased animal feed production, rising demand for customized feed, and a focus on feed production optimization.

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Deployment Modes and Advancements: The on-premise software segment is expected to dominate the market in 2023, owing to its utilization in tasks such as feed management and ensuring high-level security in feed formulation. Nevertheless, the cloud-based software segment is projected to register the highest CAGR during the forecast period due to its scalability, flexibility, and cost efficiency.

Poultry Segment Leading the Animal Type Category: The poultry segment is predicted to hold the largest share in the feed software market in 2023, owing to escalating demand for poultry feed attributed to increased consumption of poultry meat and eggs.

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Feed Producers at the Helm: Among end users, the feed producers segment is poised to claim the largest share in 2023. The rising adoption of feed software by feed producers, driven by the growing demand for animal protein and increasing disposable income, contributes to the segment's significant market share.

Geographical Dynamics: In 2023, North America is expected to dominate the feed software market, with Asia-Pacific projected to exhibit the highest CAGR during the forecast period. North America's leadership is attributed to increased investments by major animal feed producers, rising demand for high-quality animal feed, and the adoption of digital technologies in the animal nutrition sector.

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Key Players in the Feed Software Market:
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
Meticulous Market Research Inc.
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This release was published on openPR.