Per Future Market Insights report, over the estimated period, the worldwide swine feed market is expected to grow at a compound annual growth rate (CAGR) of 4.4%. Forecasts indicate that the market would be valued US$ 178.6 billion in 2032, up from US$ 126.6 billion in 2022.
The demand for food additives to increase the food quality of animal nutrition items is becoming more widespread worldwide. As a result, more and more animal husbandry specialties, particularly pig farming, are using improved feed.The increase in pork consumption worldwide is anticipated to significantly increase swine feed output. The demand for nutritious and useful swine feed is expected to rise in the worldwide swine husbandry industry in order to prevent the spread of epizootic diseases brought on by inadequate nutrition.
Additionally, the increasing awareness about the health of a pig has resulted in consumers compelling the pig farmers to use swine feed products that keep the pigs immune from enzootic disorders. Also, the use of enhanced swine feed is expected to lower the incidence rate of animal epidemics, thereby fuelling the demand in the global swine feed market.
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Global Swine Feed Market: Growth Drivers
The global market for swine feed will continue to grow, owing to the global trend of maintaining the optimum health of domesticated meat animals such as pigs. Providing better swine feed for pig husbandry ensures the health of the consumer eating the pork meat, creating an indirect impact of the health of the global pork-eating human population. Besides this, the other key factors driving the growth of the global swine feed market include,
- Growing demand for quality pork
Pork is one of the most-consumed meat in the world, and its culinary experimentations have resulted in the rise in demand for quality pork, which can be harvested only through the feeding quality swine food to the pigs.
The growing consumption of pork is inflating the prices of pork. This has benefitted the pig farmers in earning more income, which has supplemented the adoption of quality swine feed.
- Increasing instances of disease outbreak
The rising incidences of disease outbreak due to consumption of infected pork meat has influenced the demand for enhanced swine feed that optimises the health of pigs.
Asia Pacific: A Leading Key Region for Swine Feed
The global market for swine feed is geographically segmented into seven key regions of the world. Among them, China will continue to have the highest concentration of pig population. The demand for swine feed is anticipated to be relatively high in Vietnam, Philippines and Thailand, among other Asia Pacific countries. Europe and North America are expected to continue being the leading regions in terms of pork consumption. The US is expected to be one of the key regions favouring the growth in the number of swine feed producers and manufacturers.
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Competitive Landscape
To improve the feed production, the swine feed manufacturers are expanding the business by introducing key nutritional elements from corn and soybean into the swine meal. The key companies identifies as the leading competitors of the global swine feed market include, Chr Hansen, Royal DSM Holdings Limited, Lallemand Inc., BASF Limited, Novus International Inc., Kent foods, Archer Daniels Midland Company, Cargill Inc., ABF Plc., and Alltech Inc., among others.
Regional analysis for Global Swine Feed Market includes
- North America
- Latin America
- Western Europe
- Eastern Europe
- Asia Pacific
- Australia and New Zealand (ANZ)
- Greater China
- India
- ASEAN
- Rest of Asia Pacific
- Japan
- Middle East and Africa
- GCC Countries
- Other Middle East
- North Africa
- South Africa
- Other Africa
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