compound feed market Size and forecast to 2028.
The global compound feed market size was valued at USD 459.1 billion in 2021 and is poised to grow at a significant CAGR of 4.2% during the forecast period 2022-28. The global market provides a detailed overview of the global compound feed market, and that can be segmented by animal type and by product type. By animal type, the global compound feed market has been segmented into Swine, Poultry, Ovine, Bovine, Equine, Canine, and Aquaculture. The swine segment is likely to be the largest and fastest-growing segment in terms of animal type in 2021 and is expected to maintain the growth in the upcoming years according to precession business insights. It is attributed to the high demand for pig meat in the U.S, Mexico, China, and other Southeast Asian countries. The poultry segment is also growing at a significant CAGR due to the increasing production of poultry animals such as chicken and turkey. Based on product type, the global compound feed market is segmented into Cereals, Cakes and Meals, By-Products, and Supplements. Among these, the Cereals segment is expected to have the fastest-growing market during the forecast period 2022-2028. Feed cereals have high demand than other ingredients due to their wide availability and strong nutritional profile. Corn, wheat, and rice are the major sources of feed cereals in the developed and developing regions. There are other feed cereals such as oats, sorghum, millet, and barley. Compound Feed is a blend of variety of feed ingredients. Regularly utilized fixings in compound dairy cattle feed incorporate grains, wheat, protein dinners/cakes, agro-industrial by products, minerals and vitamins. Development and improvements of new technologies in formulations of finished products based on the feed type and change in regulatory scenario are boosting growth of the industry.
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Increase in adoption of pets, rise in care and concern of the animals health is the major factor for the rise in demand for healthy and safe feeds for the animals, which in turns drive the global compound feed market over the forecast years. Shifting towards the protein lean animal diet, rise in the consumption of the meat, poultry and dairy products around the world is anticipated to fuel the growth of the compound feed. On the other side, rise in the cost of the feeds and the supplements used to combine with them and lack of awareness in some regions of the world about the animal health are hindering the growth of the Global compound feed market.
The global compound feed market segmentation:
1) By Animal Type: Swine, Poultry, Ovine, Bovine, Equine, Canine, Aquaculture.
2) By Product: Cereals, Cakes and Meals, By-Products, Supplements.
Geographically Compound Feed is segmented as Latin America, North America, Asia- Pacific, The Middle East & Africa and Europe. North America. Due to the over pooling of the population Asia Pacific region and rapid economic growth led to the rise in demand for the meat which has triggered the significant growth rate of the Compound Feed market. Brazil is showing significant gains during the foreseeable period owing to rise in capacity of spending and rise in standards of living of the people which boosts the increased demand for the meat, poultry and their products which in turn triggering the market growth of Compound Feed .
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Key players in the compound feed market are Adisseo France S.A.S (France), Archer Daniels Midland Co. (US), Bactolac Pharmaceutical, Inc. (US), BASF SE (Germany), DSM Nutritional Products Ltd. (Switzerland), Pfizer, Inc. (US))
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