Press release
Emerging Growth Patterns Driving Expansion in the Animal Food Market
Animal Food Market
Animal Food Market Size and Projected Growth Through 2030
The animal food market is anticipated to expand markedly, reaching a value of $420.81 billion by 2030. This growth corresponds to a compound annual growth rate (CAGR) of 8.0% over the forecast period. Several factors contribute to this positive outlook, including increased demand for sustainable livestock production, the rising implementation of precision feeding techniques, growth in specialty feed segments, efforts to minimize feed wastage, and the strengthening of regulatory frameworks governing animal nutrition. Key market trends expected to influence growth include a surge in demand for high-protein feed, expanded use of nutrient-enriched feed formulas, greater adoption of aquaculture feed, a focus on optimizing feed efficiency, and improvements in quality control processes.
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Top Companies Powering the Animal Food Market
Some of the leading companies dominating the animal food market include Cargill Incorporated, New Hope Liuhe Co. Ltd., Charoen Pokphand Foods PCL, Bunge Limited, Mitsui, CJ Cheiljedang Corp, Land O'Lakes Inc., ForFarmers NV, Japfa Ltd., Tate & Lyle, ADM Animal Nutrition Inc., AgriProtein, Al Dahra Agricultural Company LLC, BOCM Pauls, Ceylon Grain Elevators plc, Devenish Nutrition, Diamond V, Ewos Group AS, H&N International GmbH, and Mars Petcare Inc.
In a significant move in February 2023, Mars Petcare, headquartered in the U.S., finalized its acquisition of Champion Petfoods, a Canadian premium pet food manufacturer. This acquisition solidified Mars Petcare's position in the high-end pet food market globally by adding Champion's renowned brands such as ORIJEN and ACANA to its portfolio.
Current Trends and Market Opportunities in Animal Food
Innovation remains a key focus for major market players, who are developing new products aimed at enhancing profitability and animal health. A notable example is LALPROBIOME, a product line featuring microbial pet nutrition solutions. Launched by Lallemand S.A.S., a Canadian animal food company, in May 2023, LALPROBIOME offers a variety of yeast and bacterial strains designed to improve immune support, antioxidant activity, digestive health, and cognitive function in pets. This initiative exemplifies the sector's emphasis on advanced nutritional formulations and health-boosting ingredients.
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Largest Animal Food Market Segments and Their Composition
The animal food market is categorized into several major segments:
1) By Type: Poultry Feed, Cattle Feed, Aquaculture Feed, Other Animal Food
2) By Ingredients: Cereal, Oilseed Meal, Supplements, Other Ingredients
3) By Distribution Channel: Supermarkets/Hypermarkets, Convenience Stores, E-Commerce, Other Distribution Channels
Further subsegments include subdivisions within these categories such as broiler, layer, and breeder feed under poultry; dairy, beef, and calf feed under cattle; fish, shrimp, and shellfish feed under aquaculture; and swine, horse, and specialty pet food under other animal food. These specific classifications help outline the diversity and depth of the animal food market landscape.
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