Animal Feed

Global animal feed will have a boosting in coming years. According to the WK Research, “Global Animal Feed Professional Survey Report 2024, Forecast to 2029”, rapid urbanization and growing consumption of meat and other end products such as milk and eggs across different regions are driving the animal feed market growth opportunities. The compound annual growth rate (CAGR) for the 2024-2029 period is projected to be 3.41% base on WK Research regression analysis model.

Analysts’ Viewpoint:
“Outbursts of diseases in animals are a major factor contributing to the increasing adoption of animal feed as it enhances the health of the animals and in proper regulation of the food chain. High growth in the animal feed market is aided by the growth strategies of major players in the form of expansions and investments, which also helps in enhancing the product portfolio and reaching out to new target markets. Furthermore, the growing livestock population along with the shift from unorganized livestock farming to the organized sector is further expected to propel market growth opportunities in the coming years”, said Kevin Rose, Senior analyst, in WK Research.

Product Introduction:
Animal feeds are referred to as those products which are responsible for improving animals’ health. The feed is given in various doses depending on the animal.

Market insight:
The rising demand for meat and animal-based products, as well as an increase in commercial livestock production, are the primary factors driving the market growth. Because of rising consumer health consciousness, there is a growing demand for dairy and meat products as a source of various nutrients, which is positively impacting the demand for animal feed. Furthermore, growing awareness of the health benefits of algae-based ingredients in animal feed is a major factor driving market growth. Microalgae play an important role in enriching animal feed with nutrients for the early stages of livestock development. It also promotes physical growth while ensuring the production of high-quality eggs, milk, and meat.
In addition, the industrialization of animal farming has primarily resulted in an increase in demand for protein-rich animal feed ingredients, which has increased the feed conversion rate. Industrially farmed livestock are primarily fed concentrates made from cereal and vegetable protein, including soybean meals, to help them gain weight and produce protein-rich meat. Farm animals rely heavily on proteins and other elements as building blocks for healthy growth. Proteins in animal feeds are high in energy, minerals like calcium and phosphorus, and essential amino acids like lysine and methionine.
The growing awareness of the health benefits of proteins on animal health has resulted in a significant demand for protein feeds such as animal protein meals, fish meals, bone meals, feather meals, blood meals, and other protein meals and feeds. Because livestock and farm animals play an important role in the global food supply chain, demand for protein-rich and nutritious animal feeds is expected to rise during the forecast period. The ever-increasing demand for protein-rich animal feeds to promote livestock growth at all stages of life is expected to drive the overall Animal Feed Market and is expected to drive the market even further. However, the high volatility of raw material prices is expected to restrain market growth during the forecast period.
The outbreak of the novel coronavirus disease is anticipated to have a moderate negative impact on market growth, which is majorly attributed to the disruption in the supply chain activities due to trade restrictions globally. Moreover, a significant decrease in meat consumption owing to growing health concerns amid the pandemic coupled with the closure of malls, restaurants, and others caused a slump in the food services sector in many parts of the world and played a major role in impacting the market during the short run. However, a strong market recovery is anticipated in the coming years with restrictions being eased off in many countries and the opening of malls, hotels, and restaurants is further pushing the demand for meat.

Competition Landscape:
In December 2021, BASF introduced Natupulse TS, a new enzyme product for animal feed. Natupulse TS is an enzyme that breaks down non-starch polysaccharides (NSPs). It hydrolyzes ß-mannans to smaller components, such as manno-oligosaccharides, as an endo-1,4-ß-D-mannanase (MOS). The introduction of ß-mannanase to the feed reduces the viscosity of the digesta, improves the feed's digestibility, and promotes a more sustainable output. This WK Research market report is designed to help clients improve their market position, and in line with this, this report provides a detailed analysis of several leading animal feed companies that include: 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, Archer Daniels Midlands, Chr. Holdings A/S, Danisco, DSM, Evonik Industries AG, Novozymes.

Segmentation of Animal Feed Market:
According to the source type, the market for animal feed is divided into: Pellets, Crumbles, Mash, and Others. Pellets have the largest market share. Pellets provide higher nutrition density, greater economic benefits, and more comprehensive nutrition. These Pellets are easier for feeding animals to digest, absorb, and conserve; additionally, they are easier to store and transport than other forms and increasing the market growth of the Animal Feed Market globally.

According to the application, the market for animal feed is divided into: Poultry, Ruminants, Swine, Aquaculture, and Others. Poultry has the largest market share. Poultry feed is a type of food used by farm chickens, ducks, geese, and other domestic birds. Whole maize, cottonseed cake, maize germ, soya beans, sunflower, and fish meal are common ingredients in poultry feed (omen). Grain, protein supplements, including soybean oil meal, mineral supplements, and vitamin supplements are all included in modern poultry feeds, which is driving the market growth and increasing the Animal Feed Market globally.

Animal Feed Market: Regional Analysis
In terms of geography, the global animal feed market has been segmented into: North America, Asia Pacific, Europe, South America, and the Middle East and Africa. The North American region is expected to grow the most significantly. The huge and easy availability of raw materials required to produce animal feed is primarily responsible for the growth of the Animal Feed Market in this region. The changing lifestyles of consumers, as well as their growing awareness of animal health issues, have had a significant impact on the North American Animal Feed Market.
With a greater emphasis on animal health, the demand for animal feed in the region has increased significantly. The growing concern for animal health, as well as the rapid rise in animal farming and product innovations, are some of the factors driving an increase in demand for animal feed in North American countries. All of these factors are accelerating market growth in this region, which is expected to boost the Animal Feed Market, thereby it will increase the demand for the Animal Feed Market.

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