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Organic Feed Global Market Report 2024 Market Size, Trends, Growth, Outlook 2024-2033
Organic Feed Global Market Report
According to The Business Research Company's, The organic feed market size has grown strongly in recent years. It will grow from $8.34 billion in 2023 to $8.97 billion in 2024 at a compound annual growth rate (CAGR) of 7.6%. The growth in the historic period can be attributed to consumer demand for organic product, health and environmental concerns, government support and certification programs, awareness of antibiotic and chemical residues, growth in organic agriculture.
The organic feed market size is expected to see strong growth in the next few years. It will grow to $12.11 billion in 2028 at a compound annual growth rate (CAGR) of 7.8%. The growth in the forecast period can be attributed to global expansion of organic certification, organic aquaculture practices, e-commerce growth for organic products, corporate sustainability initiatives. Major trends in the forecast period include investment in organic supply chain, technology in organic feed production, collaboration in the organic supply chain, innovation in organic feed formulations, non-gmo and clean label preferences.
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Market Drivers and Trends:
The adoption of organic farming practices by farmers is expected to propel the growth of the organic feed market going forward. Organic farming can be defined as all the farming techniques that make use of ecologically based pest controls and biological fertilizers that are obtained mainly from plant and animal waste. There has been an increase in organic feed being used by farmers to provide safe, nutritious food to their livestock while farming organically. For instance, in February 2023, according to FiBL, a Germany-based independent, non-profit research institute, estimated 3.7 million organic producers are there in 2021, an increase of 4.9% compared to 2020. Furthermore, according to an article published by the European Commission, a Belgium-based executive body of the European Union, in January 2023, the agricultural land that is being used for organic farming in the EU has increased by more than 50% with an annual increase of approximately 5.7%. Therefore, the adoption of organic farming practices by farmers will drive the growth of the organic feed market.
Major companies operating in the organic feed market are focused on developing innovative feed ingredients, such as chromium propionate feed ingredients, for livestock and poultry diets andto gain a competitive edge in the market. Chromium propionate is a feed ingredient containing the essential trace mineral chromium in the form of propionate, a type of organic acid. For instance, in February 2021, Kemin Industries, a US-based manufacturer providing nutritional and health solutions, launched KemTRACE Chromium-OR, an organic-compliant chromium propionate feed ingredient for swine, cattle, broiler, and horse diets. This highly bioavailable source of chromium propionate helps improve glucose utilization and mitigate stress impacts, enhancing cellular energy, and supporting overall health and growth. KemTRACE Chromium-OR is now listed with the Organic Materials Review Institute (OMRI), meeting the USDA National Organic Program (NOP) standards.
Key Benefits for Stakeholders:
• Comprehensive Market Insights: Stakeholders gain access to detailed market statistics, trends, and analyses that help them understand the current and future landscape of their industry.
• Informed Decision-Making: The reports provide crucial data that support strategic decisions, reducing risks and enhancing business planning.
• Competitive Advantage: With in-depth competitor analysis and market share information, stakeholders can identify opportunities to outperform their competition.
• Tailored Solutions: The Business Research Company offers customized reports that address specific needs, ensuring stakeholders receive relevant and actionable insights.
• Global Perspective: The reports cover various regions and markets, providing a broad view that helps stakeholders expand and operate successfully on a global scale.
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Major Key Players of the Market:
Purina Mills LLC; Scratch and Peck Feeds; K-Much Feed Industry Co. Ltd.; Hi Peak Feeds Ltd.; BernAqua; Country Heritage Feeds; SunOpta Inc.; Ranch-Way Inc.; Aller Aqua A/S; B&W Feeds Ltd.; Country Junction Feeds; Green Mountain Feeds; Unique Organics Ltd.; Kreamer Feed Inc.; Aus Organic Feeds Pty. Ltd.; Cargill Inc.; Yorktown Organics; Lonza Group; ForFarmers NV; Bayer AG; BASF SE; American Vanguard Corporation; Archer Daniels Midland Company; Biochem Zusatzstoffe Handels; Kemin Industries Inc.; Novus International Inc.; Nutreco NV; Pancosma S.A.; Royal DSM N.V.; The Fertrell Company
Organic Feed Market 2024 Key Insights:
• The organic feed market will grow to $12.11 billion in 2028 at a compound annual growth rate (CAGR) of 7.8%.
• Increased Adoption Of Organic Farming Anticipated To Fuel Organic Feed Market
• Innovative Feed Ingredient For Livestock And Poultry Diets
• North America was the largest region in the organic feed market in 2023
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Learn More About The Business Research Company
The Business Research Company (www.thebusinessresearchcompany.com) is a leading market intelligence firm renowned for its expertise in company, market, and consumer research. With a global presence, TBRC's consultants specialize in diverse industries such as manufacturing, healthcare, financial services, chemicals, and technology, providing unparalleled insights and strategic guidance to clients worldwide.
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Contact Us:
The Business Research Company
Europe: +44 207 1930 708
Asia: +91 88972 63534
Americas: +1 315 623 0293
Email: info@tbrc.info
Follow Us On:
LinkedIn: https://in.linkedin.com/company/the-business-research-company
Twitter: https://twitter.com/tbrc_info
YouTube: https://www.youtube.com/channel/UC24_fI0rV8cR5DxlCpgmyFQ
Learn More About The Business Research Company
The Business Research Company (www.thebusinessresearchcompany.com) is a leading market intelligence firm renowned for its expertise in company, market, and consumer research. With a global presence, TBRC's consultants specialize in diverse industries such as manufacturing, healthcare, financial services, chemicals, and technology, providing unparalleled insights and strategic guidance to clients worldwide.
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