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Automation in Action: Feeding Systems for the Modern World
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According to The Business Research Company's, The feeding systems market size has grown strongly in recent years. It will grow from $1.82 billion in 2023 to $1.95 billion in 2024 at a compound annual growth rate (CAGR) of 7.3%. The growth in the historic period can be attributed to agricultural revolution, industrialization impact, focus on livestock efficiency, rise of livestock farming, precision agriculture introduction.
The feeding systems market size is expected to see strong growth in the next few years. It will grow to $2.58 billion in 2028 at a compound annual growth rate (CAGR) of 7.2%. The growth in the forecast period can be attributed to focus on sustainable practices, demand for nutritional optimization, smart and connected farming solutions, consumer demand for quality products, data analytics and predictive insights. Major trends in the forecast period include integration with mobile platforms, modular and scalable solutions, efficiency in feed conversion, health monitoring integration , eco-friendly solutions.
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Market Drivers and Trends:
The rising demand for livestock is expected to propel the growth of the feeding systems market going forward. Livestock refers to domesticated animals raised in an agricultural setting for various purposes, including food production, fiber, labor, and other products. With a growing demand for livestock products such as meat, milk, and eggs, there is an inherent need for advanced feeding systems to optimize the nutrition, health, and overall well-being of the animals. For instance, according to data by Eurostat, a Luxembourg-based Directorate-General of the European Commission, in December 2021, there were 142 million pigs, 76 million bovine animals, 60 million sheep, and 11 million goats. Therefore, the rising demand for livestock is driving the growth of feeding systems.
Technological advancements are a key trend in the feeding systems market. Major companies operating in the feeding systems market are focused on developing new technologies such as real-time monitoring, diet deficiencies monitoring, and others to boost profitability and strengthen their market position. For instance, in April 2023, DeLaval, a Sweden-based company that specializes in dairy farming and milking equipment, launched a new autonomous feeding robot DeLaval Optimat. The Optimat solution encompasses a range of functions, including weighing, cutting, mixing, and delivering feed to the table, streamlining and automating the entire feeding process on dairy farms. This advancement is poised to reduce costs and labor associated with feeding, offering dairy farmers a more efficient and technologically integrated solution for their operations.
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Major Key Players of the Market:
Lely Holding SARL, VDL Agrotech B.V., DeLaval Holding AB, Pellon Group Oy, GEA Group AG, Cormall A/S, fimilk Ltd., Rovibec Agrisolutions Inc., Dairymaster, Steinsvik Group AS, Bauer Technics AS, Bou Matic LLC, The GSI Group Inc., AKVA Group, Daviesway Pty. Ltd., RO-MAN Manufacturing Inc., Penta TMR Inc., AgroLogic Ltd., Ottevanger Milling Engineers, CST Industries Inc., Feed Energy Company, Van Aarsen International, Zagro Asia Limited, DSM Nutritional Products AG, Fanway Fish Feed Machinery, Sioux Steel Company, Jaylor Fabricating Inc., Hanskamp AgroTech, JF McKenna Ltd., SKIOLD GROUP, Lely Holding S.a.r.l.
Feeding Systems Market 2024 Key Insights:
• The feeding systems market size is expected to see strong growth in the next few years. It will grow to $2.58 billion in 2028 at a compound annual growth rate (CAGR) of 7.2%.
• Rising Dairy Product Demand Propels Growth In Feeding Systems Market
• Delaval's Autonomous Feeding Robot, Optimat, Redefines Efficiency And Precision In Feeding Systems
• Europe was the largest region in the feeding systems market in 2023
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