Global Animal Feed Market Overview and Outlook
Global animal feed production in 2018 was over $400 billion with the volume at around 1.085 billion tonnes, with China, US and EU being the largest markets by volume
The last few years saw an increase in the demand for animal food worldwide, for livestock, dairy and fish; growth in the developing markets outpaced the developed markets which remained more or less stable.
The supply landscape is characterized by the increasing number of new product launches and adoption of new technologies and expansion into high-growth emerging markets in the Asia Pacific and Africa
Some of the major players in the feed market are Cargill (US), ADM (US), BASF (Germany), Archer Daniels Midland Company (US), Alltech (US), Purina Animal Nutrition (US), Evonik, etc.
Major factors driving growth in the animal feed market include increase in livestock production, rising consumption of meat, increase in per capita income, etc. In addition, higher investments in R&D to improve the food fortification processes by the major players will likely offer favorable growth opportunities in the coming years.
According to projections by the United Nations Food and Agriculture Organization (FAO), by 2050 the demand for food will grow by 60% and that between 2010 and 2050 production of animal proteins is expected to grow by around 1.7% per year, with meat production projected to rise by nearly 70%, aquaculture by 90% and dairy by 55%
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Market Growth Drivers and Trends:
Key factors driving the global animal feed market are:
- Increase in industrial livestock production
- Rising consumption of meat
- Increase in per capita income
- Rising investments in R&D
Key factors likely to restrain or slow down growth in the global animal feed market :
- Local protein availability
- Supply chain disruptions and slowdown in consumption due to COVID-19
- Rising feed of cost
Global Animal Feed Market Research Scope
The base year of the study is 2019, with forecast done up to 2024. The report provides a detailed assessment of the global animal feed market, including insights on the market dynamics, key drivers, challenges, regulations impacting the market, technology assessment and value chain analysis.
We have also estimated the current market size for animal feed market globally and by geography, form and by product type; 5-year outlook of the market, factors driving growth along with regional insights and trends
The study also presents a thorough analysis of the competitive landscape, considering the market shares of the leading companies. These provide the key market participants with the necessary business intelligence and help them understand the future of the global animal feed market.