Horse Feed Market Size, Share, Trends, Growth And Forecast 2024-2033

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.

Market Overview -
Horse feed is used to feed horses. Horse feed refers to food that is specifically grown and developed for horse consumption and that provides energy, nutrition, or both when added to their diet. The horse feed is fed to horses with a fiber-based diet such as grass, pasture grass, hay, hay replacement, concentrates such as small grains, such as corn, oats, and barley, or supplements that include protein and vitamin-mineral supplements.

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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

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.

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Key Segments -
The horse feed market covered in this report is segmented -
1) By Type: Performance, Senior or Old, Professional, Mare And Foal, Other Types
2) By Nutrition Type: High Fibre, Low Starch, High Protein, High Fats
3) By Ingredients: Cereals, Supplements, Cakes or Meals, Other Ingredients
4) By Form: Pellets, Cubes, Powder
5) By Application: Online Sales, Offline Retail

Key highlights covered in the report -
1. Detailed market size forecast and historical data analysis
2. Key drivers influencing market growth
3. Identification of upcoming trends and potential opportunities in the market
4. Analysis of major players strategies, to understand competitive dynamics and market positioning
5. Evaluation of regional dynamics

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