Animal Feed Market Size, Share and Growth Analysis
Posted by venkatakiran on October 30th, 2019
Animal Feed Market Size and Growth Rate:
“The Global Animal Feed Market is expected to reach US$ 37.1 Bn by 2025 owing to surge in demand for the dairy and meat products”
Animal Feed Market Growth Drivers and Restraints:
The global Animal Feed market is expected to reach US$ 37.1 Bn by 2025. The factors which are driving the growth of global animal feed market are progression in the population desiring for healthy meat and dairy products, mounting interest in keeping animals as a pet, and increase in the consumption of dairy products in the food industry. Moreover, increase in outlay for the animal well-being and wellness, and awareness of the proper health of the animals is expected to strengthen the animal feed market over the forecast period. Additionally, rising occurrence of various diseases in animals, contamination of the water, lack of nutritional food, and an increasing awareness about the adverse effects linked with the chemical food are also fueling the animal feed market over the coming years. Conversely, rigorous regulatory policies for the approval of nutritional products, lack of alertness regarding the animal in untaught and underprivileged farmers, who are only favoring grass and other old-style food products in the rural area, are restraining the growth of animal feed market.
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Farm Animals Dominate the Global Animal Feed Market
Based on the animal type, global animal feed market is segmented into farm animals, aquaculture, and others. Farm animals dominated the global animal feed market owing to the increased consumption of meat and dairy products. As per OECD-FAO the largest share of milk and dairy product consumption is in the form of fresh dairy products, taking up about 50% of the world's total milk production.
Asia Pacific Leads the Global Animal Feed Market
PBI’s global Animal Feed market report analyses the market in different regions such as North America, Europe, Asia Pacific, Latin America, and Middle East and Africa. According to regional analysis, Asia Pacific dominates the global animal feed market due to growing feasting of healthy meat and dairy products. Additionally, change to more nutritious diets increased the demand for meat therefore had an impact on the market for feed. Moreover, there continuous growing population especially in country like India and China, increasing adoption of pet animals, raising urbanization, and rise in cattle population are surging the growth of animal feed market in APAC region. After Asia Pacific, North America dominates the global animal feed market because of their high disposable incomes, high expenditure for animal welfare and wellness, and increasing awareness about the animal feed. Between the years 2017 to 2018, 68% of USA households or about 85 million families owned a pet, according to the National Pet Owners Survey conducted by the American Pet Products Association (APPA). Europe holds a substantial share in animal feed market due to increase in the fondness for consumption of meat and dairy products, especially in European countries like Norway, Ireland, and UK among others. An improved livestock health care expense as a result of the increasing epidemic of disease has had a positive impact on product demand in the European region.
Launch of newer products, and tactical associations are the key strategies adopted by market players
Global animal feed market further reveals that the key player’s increasingly adopting strategies such as launch of newer products, and long term alliance to improve market revenue share and gaining significant geographic presence across the region.
Key player’s profiles in the report are Cargill, Inc. (USA), Archer Daniels Midland Company (USA), Nutreco N.V. (Netherlands), BASF SE (Germany), Koninklijke DSM N.V. (Netherlands), Novus International (USA), Biomin Holding GmbH (Austria), and Anco Animal Nutrition Competence GmbH (Austria).
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Detailed Segmentation of Animal Feed Market:
By Product Type
o Broilers Medicated Feed
o Layers Medicated Feed
o Dairy Medicated Feed
o Beef Medicated Feed
o Swine Medicated Feed
o Others Medicated Feed
o Broilers Non-medicated Feed
o Layers Non-medicated Feed
o Dairy Non-medicated Feed
o Beef non-medicated Feed
o Swine Non-medicated Feed
o Others Non-medicated Feed
By Animal Type
o North America
o Asia Pacific
o Latin America
o Middle East and Africa (MEA)
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About the Authorvenkatakiran
Joined: September 16th, 2019
Articles Posted: 111
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