Animal Feed Market Size, Share, Opportunities, And Trends By Type (Fodder & Forage, Compound Feed), By Livestock (Pork, Aquatic Animals, Cattle, Poultry, Others), By Raw Material (Soy, Corn, Rendered Meal, Others), And By Geography - Forecasts From 2024 To 2029

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

Animal feed plays a major role in global food production as it enables the economic production of animal additives. It is an important source of nutrition for animals that guarantees improved immunity, accelerated overall growth, and good health.

In addition, with a growing initiative for the production of environmentally sustainable protein, animal feed works as a high-value protein source for both livestock and fish. The livestock and animal feed industries are harmonious in expansion. The major variable anticipated to fuel the growth of animal feed during the projected years is the surging consumption of meat products for greater protein intake, which has resulted in higher demand for nutritious feed focusing on better animal health. Lucrative expansion in livestock industrialization also plays an important part in the growth of the industry.

Furthermore, increased awareness regarding the benefits of nutrition intake and animal health, assisted by the availability of goods, has encouraged farmers and slaughterhouses to incorporate superior animal feed into their livestock diets.

What are the animal feed market growth drivers?

• Increasing meat consumption has increased demand for healthy livestock, which in turn contributes to the animal feed market expansion.

The animal feed industry is expected to rise in the coming years due to the increase in meat consumption worldwide.

According to OECD-FAO Agricultural Outlook 2021-2030, global meat production per capita is projected to increase by 0.3% P.A. to 35.4kg by 2030. 

Overall, the bulk of meat production growth is predicted to be in developing regions, which would account for 80% of the additional output. It moreover stated that beef consumption is anticipated to grow to 76 Mt over the next ten years and will constitute around 16% of the total rise in meat consumption as compared to the base period.

Further, global pig meat consumption is projected to grow to 127 Mt over the next ten years and will account for 28% of the overall increase in meat consumption as per the OECD Agricultural Outlook for 2020 to 2029. This rise will result in an increase in meat consumption followed by a growth in population is projected to fuel the animal feed market.

• An increase in research and development activities, followed by a rise in government initiatives, is also expected to drive animal feed market growth.

Governments may invest in research for alternative feed sources and their alternatives, reducing environmental impact while promoting animal welfare through improved living conditions. This could increase demand for high-quality, nutritious feed. Additionally, subsidies could be offered to support domestic animal feed production, reducing import reliance and potentially lowering farmers' costs.

For instance, in December 2022, The Asian Development Bank and ABIS Exports India Private Limited agreed to subscribe to non-convertible debentures for USD 16 million to progress food security in India by supporting the development of a microfiche feed plant, preparing 6,000 farmers in climate-resilient fish farming hones, and improving monetary proficiency.

Further, the growth of livestock production has subsequently assisted the rise in the demand for highly nutritious animal feed items, which is anticipated to upgrade the animal feed demand. In 2023, the European Feed Manufacturers' Federation (FEFAC) reported that the production of compound feed for farm animals in the EU-27 countries was about 148.9 million tons in 2022, alone.

What are the key geographical trends shaping the animal feed market?

Based on geography, the animal feed market is segmented into North America, South America, Europe, the Middle East and Africa, and the Asia Pacific.  

The North American market for animal feed is expected to hold a dominant market during the projected period. The increase of diseases amongst the animals coupled with the growing awareness about the nutritional content are among the primary contributors driving the demand in the region.

The United States is the key market in the region as the US animal food manufacturing industry strongly relies on the free-trade agreement with Canada and Mexico (North American Free Trade Agreement (NAFTA)), which has green-signalled the exports of feed and feed ingredients. This trade agreement, coupled with the growing livestock industry, is fuelling the animal feed industry. A major variable predicted to augment the market expansion in the year ahead is a significant shift of consumers towards animal-sourced proteins.

The Asia Pacific animal feed industry is anticipated to expand at the fastest pace. The increase in disposable income and inculcation of an animal-based protein diet for sustaining a healthy and active life has expanded the consumption of meat in the region. The market for animal feed in the European region is fueled by growing demand for meat and aquaculture products.

Due to shifting diet patterns, a rise in population, and regional economic growth, countries like France, the Netherlands, Bulgaria, Russia, Belgium, Denmark, Germany, Hungary, Italy, and the United Kingdom are anticipating a significant increase in demand.

Recent developments in the animal feed market:

• November 2023: Refit Animal Care launched two animal feed supplements, “SPEEDO+” and “ACTIPIEGION,” which are manufactured using natural ingredients and would be used to enhance the pigeon’s overall health and performance.
• May 2023: Evonik launched a new generation of its “Biolys” for animal feed, which contains 62.4% L-lysine. The new product also contains additional nutritional and energy components that cater to the booming demand for high-quality animal protein.
• March 2023: International Flavor and Fragrance Inc. launched the “Axtra Prime” feed solution, which is specifically designed to improve gut health and nutrient digestion in piglets. The product targets early obstacles faced during swine production. 
• January 2023: De Heus Animal Nutrition introduced its first animal feed factory in Attinguié, a greenfield industrial zone with an introductory capacity of 120,000 MT pa. The manufacturing plant produces complete feeds and concentrates, catering to farmers within the Ivory Coast and encompassing export goals.
• May 2022: ADM acquired a feed mill in Polomolok, South Cotabato, from South Sunrays Milling Corporation, extending its Philippines animal nutrition impression and providing an extended range of inventive and high-quality items to meet Asia's request for innovative animal nutrition items.

Animal Feed Market Scope:

Report Metric	Details
Animal Feed Market Size Value in 2022	US$405.034 billion
Animal Feed Market Size Value in 2029	US$525.781 billion
Growth Rate	CAGR of 3.80% from 2022 to 2029
Study Period	2019 to 2029
Historical Data	2019 to 2022
Base Year	2023
Forecast Period	2024 – 2029
Forecast Unit (Value)	USD Billion
Segments Covered	Type Livestock Raw Materials Geography
Companies Covered	Alltech Cargill, Incorporated Kemin Industries, Inc. Nutreco N.V. Charoen Pokphand Foods PCL
Regions Covered	North America, South America, Europe, Middle East and Africa, Asia Pacific
Customization Scope	Free report customization with purchase

 

Animal Feed Market is analyzed into the following segments:

• By Type
  • Fodder & Forage
  • Compound Feed
• By Livestock
  • Pork
  • Aquatic animal
  • Cattle
  • Poultry
  • Others
• By Raw Materials
  • Soy
  • Corn
  • Rendered Meal
  • Others
• By Geography
  • North America
    • USA
    • Canada
    • Mexico
  • South America
    • Brazil
    • Argentina
    • Others
  • Europe
    • UK
    • Germany
    • France
    • Spain
    • Italy
    • Others
  • Middle East and Africa
    • Saudi Arabia
    • UAE
    • Israel
    • Others
  • Asia Pacific
    • Japan
    • China
    • India
    • South Korea
    • Indonesia
    • Thailand
    • Vietnam
    • Philippines
    • Malaysia
    • Others

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1. INTRODUCTION

1.1. Market Overview

1.2. Market Definition

1.3. Scope of the Study

1.4. Market Segmentation

1.5. Currency

1.6. Assumptions

1.7. Base and Forecast Years Timeline

1.8. Key Benefits to the Stakeholder

2. RESEARCH METHODOLOGY  

2.1. Research Design

2.2. Research Processes

3. EXECUTIVE SUMMARY

3.1. Key Findings

4. MARKET DYNAMICS

4.1. Market Drivers

4.2. Market Restraints

4.3. Porter’s Five Forces Analysis

4.3.1. Bargaining Power of Suppliers

4.3.2. Bargaining Power of Buyers

4.3.3. Threat of New Entrants

4.3.4. Threat of Substitutes

4.3.5. Competitive Rivalry in the Industry

4.4. Industry Value Chain Analysis

4.5. Analyst View

5. ANIMAL FEED MARKET BY TYPE

5.1. Introduction

5.2. Fodder & Forage

5.3. Compound Feed

6. ANIMAL FEED MARKET BY LIVESTOCK

6.1. Introduction

6.2. Pork

6.3. Aquatic animal

6.4. Cattle

6.5. Poultry

6.6. Others

7. ANIMAL FEED MARKET BY RAW MATERIALS

7.1. Introduction

7.2. Soy

7.3. Corn

7.4. Rendered Meal

7.5. Others

8. ANIMAL FEED MARKET BY GEOGRAPHY

8.1. Introduction

8.2. North America

8.2.1. By Type

8.2.2. By Livestock

8.2.3. By Raw Materials

8.2.4. By Country

8.2.4.1. USA

8.2.4.2. Canada

8.2.4.3. Mexico

8.3. South America

8.3.1. By Type

8.3.2. By Livestock

8.3.3. By Raw Materials

8.3.4. By Country

8.3.4.1. Brazil

8.3.4.2. Argentina

8.3.4.3. Others

8.4. Europe

8.4.1. By Type

8.4.2. By Livestock

8.4.3. By Raw Materials

8.4.4. By Country

8.4.4.1. UK

8.4.4.2. Germany

8.4.4.3. France

8.4.4.4. Spain

8.4.4.5. Italy

8.4.4.6. Others

8.5. Middle East and Africa

8.5.1. By Type

8.5.2. By Livestock

8.5.3. By Raw Materials

8.5.4. By Country

8.5.4.1. Saudi Arabia

8.5.4.2. UAE

8.5.4.3. Israel

8.5.4.4. Others

8.6. Asia Pacific

8.6.1. By Type

8.6.2. By Livestock

8.6.3. By Raw Materials

8.6.4. By Country

8.6.4.1. Japan

8.6.4.2. China

8.6.4.3. India

8.6.4.4. South Korea

8.6.4.5. Indonesia

8.6.4.6. Thailand

8.6.4.7. Vietnam

8.6.4.8. Philippines

8.6.4.9. Malaysia

8.6.4.10. Others

9. COMPETITIVE ENVIRONMENT AND ANALYSIS

9.1. Major Players and Strategy Analysis

9.2. Market Share Analysis

9.3. Mergers, Acquisitions, Agreements, and Collaborations

9.4. Competitive Dashboard

10. COMPANY PROFILES

10.1. Alltech

10.2. Cargill, Incorporated

10.3. Kemin Industries, Inc.

10.4. Nutreco N.V.

10.5. Charoen Pokphand Foods PCL

10.6. BRF S.A.

10.7. Purina Animal Nutrition LLC.

10.8. New Hope Group

10.9. ADM Animal Nutrition

10.10. Kent Nutrition Group

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