Animal Feed Market is anticipated to reach US$525.781 billion by 2029 at a CAGR of 3.80%

The animal feed market is anticipated to grow at a CAGR of 3.80% from US$405.034 billion in 2022 to US$525.781 billion by 2029.

NOIDA, UTTAR PARDESH, INDIA, May 20, 2024 /EINPresswire.com/ -- According to a new study published by Knowledge Sourcing Intelligence, the animal feed market is projected to grow at a CAGR of 3.80% between 2022 and 2029 to reach US$525.781 billion by 2029.

Animal feed is the food that is used to provide animals, especially livestock, during animal husbandry. It simply refers to any crop grown to feed animals, which includes grain, pasture crops, and forages. Animal feed can also be foodstuff that is eaten by an animal and supplies the animal with nutrients, energy, or even both, for its diet. Animal feed is an integral part of animal agriculture and is most of the cost involved in keeping an animal alive.

Farms are capable of reducing the cost of feed by growing their own feeds, grazing animals, or even food waste as alternatives to the feeds. Nutritious animal feed can help animals with rapid growth, Resistance to diseases and health problems, Production of better health, and High resistance to fatigue and stress. Nutritious animal feed can also benefit the environment by Reducing emissions from animal places and Preserving natural resources. The feed for animals consists of nutrients that are essential for the overall maintenance, growth, breeding, and life of their animals, including Carbohydrates, Protein, Fat, Minerals, Vitamins, and Water.

Increased demand for animal protein is the primary driving force behind the animal feed market growth. The increasing non-human animal feed demand is a key driver of the animal feed market worldwide. The demand for animal products in cities has pushed livestock farmers to boost productivity. As the weights of these livestock increase, it means that there is an ever-growing demand for animal feed so that these bigger animals can produce sufficient amounts of animal-based protein for human consumption.

Animal feed combines grains, proteins, vitamins, and minerals in appropriate proportions to fit different animals such as cows, pigs, and chickens. Moreover, it also contains all the necessary nutrition an animal requires for its energy balance other than this appropriate diet.

Numerous product launches and collaborations are taking place in the market thereby, increasing the animal feed market growth.

• In March 13, 2024: EW Nutrition successfully unveiled Axxess XY, a novel xylanase enzyme at Victam 2024 Trade Show. This invention releases the nutrients that are being confined in the feed of these animals and improves the gut health of the livestock.

• In March 6, 2024: One of the global players in animal nutrition, EW Nutrition, extends its product line by buying the BIOMIN BIOSTABIL line from dsm-firmenich. With this deal, EW Nutrition obtained ownership of the existing range of silage inoculants, which is an important contribution to their customers farming worldwide.

Access sample report or view details: https://www.knowledge-sourcing.com/report/animal-feed-market

The animal feed market, based on type is segmented into two categories namely fodder & forage and compound feed. Compound feed is expected to account for the major share of the animal feed market. In the animal feed industry, only compound feed is preferred as it contains controlled ingredients that give the same nutrition. It caters for different classes of animals using well-balanced feeds as compared to forages which can be variable in quality and may necessitate additional supplementation.

The animal feed market, based on livestock is segmented into five categories namely pork, aquatic animals, cattle, poultry, and others. Poultry is expected to account for the major share of the animal feed market. Among the animal feedstocks, the poultry market holds the current leading position. This happens because of the shorter mating periods, cheap fish conversion, and an increase in the number of people who prefer chicken meat and eggs to be served.

The animal feed market, based on raw materials is segmented into four categories namely soy, corn, rendered meal, and others. Corn and soybeans are expected to account for the major share of the animal feed market. Corn and soybeans are widely used because of the variety of nutrients and affordability factors, which are important for many species of farm animals.

Based on geography, the animal feed market is expanding significantly in the North American region due to various factors. In countries like the United States, Canada, and Mexico there is a growing demand for animal feed in various industries, including meat production, dairy production, and aquaculture. The demand is being driven by these nations due to the rising appetite for meat and milk. In addition to that, there is an increasing number of people who prefer buying high-quality animal products. In this regard, the market for nutritious animal feeds has experienced a significant boost which has flowed through the entire North American animal feed industry.

The research includes several key players from the animal feed market, such as Alltech, Cargill Incorporated, Kemin Industries, Inc., Nutreco N.V., Charoen Pokphand Foods PCL, BRF S.A., Purina Animal Nutrition LLC., New Hope Group, ADM Animal Nutrition, and Kent Nutrition Group.

The market analytics report segments the animal feed market as follows:

• By Type

o Fodder & Forage
o Compound Feed

• By Livestock

o Pork
o Aquatic animal
o Cattle
o Poultry
o Others

• By Raw Materials

o Soy
o Corn
o Rendered Meal
o Others

• By Geography

o North America

• USA
• Canada
• Mexico

o South America

• Brazil
• Argentina
• Others

o Europe

• UK
• Germany
• France
• Spain
• Italy
• Others

o Middle East and Africa

• Saudi Arabia
• UAE
• Israel
• South Africa
• Others

o Asia Pacific

• Japan
• China
• India
• South Korea
• Indonesia
• Thailand
• Vietnam
• Philippines
• Malaysia
• Others

Companies Profiled:

• Alltech
• Cargill, Incorporated
• Kemin Industries, Inc.
• Nutreco N.V.
• Charoen Pokphand Foods PCL
• BRF S.A.
• Purina Animal Nutrition LLC.
• New Hope Group
• ADM Animal Nutrition
• Kent Nutrition Group

Explore More Reports:

• Animal Feed Antioxidants Market: https://www.knowledge-sourcing.com/report/animal-feed-antioxidants-market

• Feed Premix Market: https://www.knowledge-sourcing.com/report/feed-premix-market

• Feed Concentrates Market: https://www.knowledge-sourcing.com/report/feed-concentrates-market

Ankit Mishra
Knowledge Sourcing Intelligence LLP
+1 850-250-1698
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