The starter feed market is estimated to be valued at US$ 40.4 Mn in 2023 and is expected to exhibit a CAGR of 8.0% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.

Market Overview:
Starter feed refers to feed that is given to young poultry and livestock for easy digestion and to meet their nutritional needs. It contains nutrients like proteins, vitamins, amino acids, and minerals in proportions suitable for young animals' growth. Starter feeds are crucial for boosting immunity and metabolism in young animals.

Market Dynamics:
Increasing consumption of meat globally is expected to be a major growth driver for the starter feed market over the forecast period. According to the Organisation for Economic Co-operation and Development and the United Nations’ Food and Agriculture Organization, global meat consumption rose from 218 million tonnes in 1999 to around 345 million tonnes in 2018. This rapid growth in demand for meat has prompted farmers to increase poultry and livestock production, which in turn is projected to fuel the demand for high-quality starter feeds. Additionally, technological advancements aiding in formulation of more nutritious and easily digestible starter feeds to maximize young animal growth will further support the market growth.

SWOT Analysis

Strength: Starter Feed market has strong demand from poultry and livestock farmers. The starter feed stimulates growth of young animals and improves overall animal health. Manufacturers are focusing on premium quality ingredients and formulations to maximize absorption and utilization of nutrients.
Weakness: Fluctuations in raw material prices increases production costs, reducing profit margins for manufacturers. The strict quality standards and regulations negatively impact small players.
Opportunity: Growing demand for meat and dairy products worldwide is augmenting the starter feed market size. Farmers require high-quality starter feed to yield maximum output from livestock and poultry. Expanding population in developing nations is a major growth driver.
Threats: Rising awareness about risks of antibiotic residues in animal feed is prompting farmers to shift to organic alternatives. Intense competition amongst manufacturers decreases profit margins.

Key Takeaways

The global Starter Feed Market  is expected to witness high growth, exhibiting CAGR of 8.0% over the forecast period, due to increasing consumption of meat and dairy products. Rapid urbanization and rising living standards in emerging economies are fueling the demand for animal protein. As starter feed supports healthy growth of young livestock and poultry, farmers are using specialized formulations to boost farm output.

Regionally, the Asia Pacific dominates the starter feed market share due to large livestock population and growing meat consumption in China and India. These countries account for over 60% of global chicken and duck meat production. By 2030, Asia Pacific starter feed market size is forecast to reach US$ 25 Bn, driven by expansion of broiler and layer farms. North America and Europe are other major markets driven by demand for high-quality animal feed.

Key players operating in the starter feed market include Purina Mills LLC, Nutreco N.V., Roquette Freres S.A., Evonik Industries A G, Charoen Pokphand Foods PLC, Alltech Inc., Associated British Foods Plc., Koninklijke DSM NV, BASF SE, ACI Godrej Agrovet Private Limited. These companies are investing in R&D to develop customized formulations suitable for different livestock and countries. Partnerships with distributors are helping them gain foothold across price-sensitive regions.

For more insights, read- https://dailynewsmotion.weebly.com/report-blog/starter-feed-market-is-estimated-to-witness-high-growth-owing-to-rapidly-increasing-meat-consumption