The global compound feed market is anticipated to grow at a significant CAGR during the forecast period (2024-2031). The major factors that are expected to boost the market include increased awareness regarding quality meat, milk, and other dairy-related products and increased livestock production. This is prompted by the growing demand for meat and aquaculture products, which is the major driving force behind the growth of the compound feed market. Ruminants are one of the major consumers of compound feed, with a prominent share, due to the high demand for beef around the world, followed by the poultry segment. Poultry and ruminants are expected to grow at a higher rate due to the changing dynamics of industrialization in the meat industry.
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Compound feed is a mixture of raw materials and supplements fed to the livestock, sourced from either plant, animal, organic or inorganic substances, or industrial processing, whether or not containing additives. The demand for seafood is increasing rapidly, as more people are becoming aware of the health benefits of fish consumption. This, in turn will fuel the market growth during the forecast period. Moreover, increasing life expectancy and limited availability of land and water resources for animal feed production, coupled with increasing use of these resources for food and ethanol production are expected to accelerate the demand for animal feed during the forecast period. In order to maintain a strong position in the market, these market players are adopting various strategic moves, such as product launches, partnerships, collaborations, and mergers and acquisitions.
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Recent Development
- In November 2019, Cargill opened a $34.0 million expansion of its Animal Nutrition and Health facility in Temple, Texas, US.
- In June 2019, Cargill and InnovaFeed entered a partnership through which the companies will develop, manufacture, and market insect protein-based fish feed to support the growing sustainable aquaculture.
Market Coverage
- Segment Covered-
o By Animal Type
o By Ingredient
- Regions covered-
o North America
o Europe
o Asia-Pacific
o Rest of the World
- Competitive Landscape: Cargill, Inc., Nutreco N.V., Archer Daniels Midland Co., Alltech, Inc., and Land O’Lakes, Inc.
Key questions addressed by the report
- What is the market growth rate?
- Which segment and region dominate the market in the base year?
- Which segment and region will project the fastest growth in the market?
- How has COVID-19 impacted the market?
o Deviation from the pre-COVID-19 forecast
o Most affected region and segment
- Who is the leader in the market?
- How are players addressing challenges to sustain growth?
- Where is the investment opportunity?
Global Compound Feed Market Report by Segment
By Animal Type
- Ruminants
- Swine
- Poultry
- Aquaculture
- Others
By Ingredient
- Cereals
- Cakes and Meals
- By-products
- Supplements
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