Animal Feed Market to grow by USD 146.56 billion from 2022 to 2027; Growth driven by Increasing investments and expansion of production capabilities - Technavio

NEW YORK, Aug. 18, 2023 /PRNewswire/ -- The animal feed market is set to grow by USD 146.56 billion from 2022 to 2027. However, the growth momentum will progress at a CAGR of 5.34% during the forecast period, according to Technavio. The animal feed market is fragmented, and the vendors are seeking strong partnerships with automotive, industrial, and commercial companies to compete in the market. Alltech Inc., Archer Daniels Midland Co., Associated British Foods Plc, BASF SE, Bluestar Adisseo Co., BRF SA, Cargill Inc., Charoen Pokphand Foods PCL, Chr Hansen Holding AS, Corbion nv, Evonik Industries AG, International Flavors and Fragrances Inc., Jefo, Kemin Industries Inc., Kent Nutrition Group Inc., Land O Lakes Inc., New Hope Group Co. Ltd., Trouw Nutrition, Tyson Foods Inc., Biochem additives and product mbH, and are some of the major market participants - To know about the vendor offerings - Request a sample report

Animal Feed Market 2023-2027: Scope

Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. The animal feed market report covers the following areas:

• Animal Feed Market Size
• Animal Feed Market Trends
• Animal Feed Market Industry Analysis
• Porter's Five Forces Analysis
• Customer Landscape

The animal feed market is fragmented, and the degree of fragmentation will accelerate. The increasing investments and expansion of production capabilities will offer immense growth opportunities. However, the High price of non-GMO animal feed will hamper the market growth.

Animal Feed Market 2023-2027: Drivers & Challenges

Increasing investments and expansion of production capabilities are notably driving market growth. Manufacturers are focusing on expanding production their capacities to meet the global demand. For instance, in October 2021, Koudijs subsidiary De Heus opened a new feed additive plant in Kirchtsi, Lviv Oblast, Ukraine, for USD 9.2 million. In April 2020, Cargill subsidiary Diamond V expanded its pet nutrition manufacturing facility in Cedar Rapids, USA, to package and produce a full line of natural animal immune support products. Therefore, increasing investments and focus by market vendors on expanding production capacity will drive the growth of the market during the forecast period.

The development of clean meat products is challenging market growth. As pure meat products are developed in laboratories using cellular technology, their development process does not include animal slaughter. The number of suppliers of clean meat products is increasing worldwide. For instance, in January 2021, New Wave Foods announced the official launch of its plant-based shrimp product. Therefore, initiatives by vendors to develop clean meat products are expected to hinder the growth of the market during the forecast period. 

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Animal Feed Market 2023-2027: Segment Analysis

• Type 
• Poultry
• Swine
• Ruminant
• Aquaculture
• Others
• Product 
• Pellets
• Mash
• Crumbles
• Geography 
• APAC
• Europe
• North America
• South America
• Middle East And Africa

Animal Feed Market 2023-2027: Segmentation Highlights

The poultry segment will account for a significant share of market growth during the forecast period. The increasing consumption of poultry meat will fuel the demand for poultry feed products during the forecast period. Market vendors are increasing their poultry production to meet the growing demand for poultry meat. The introduction of new poultry feed products by market vendors will also drive the growth of the poultry feed segment during the forecast period.

The competitive scenario categorizes companies based on various performance indicators. Some of the factors considered include the financial performance of companies, growth strategies, product innovations, new product launches, investments, and growth in market share, among others Buy the Report

Animal Feed Market 2023-2027: Key Highlights

• CAGR of the market during the forecast period 2023-2027
• Detailed information on factors that will assist animal feed market growth during the next five years
• Estimation of the animal feed market size and its contribution to the parent market
• Predictions on upcoming trends and changes in consumer behavior
• The growth of the animal feed market across APAC, Europe, North America, South America, and Middle East and Africa
• Analysis of the market's competitive landscape and detailed information on vendors
• Comprehensive details of factors that will challenge the growth of animal feed market vendors

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Table of contents

1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by Type
7 Market Segmentation by Product
8 Customer Landscape
9 Geographic Landscape
10 Drivers, Challenges, and Trends
11 Company Landscape
12 Company Analysis
13 Appendix

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