Market Overview
The global Compound Feed Industry size is estimated to balloon to USD 539.99 billion by 2023, asserts Market Research Future (MRFR). The substantial growth witnessed in organized livestock farming is the primary driver of the market. Dependence on farming by agriculture-dependent economies of India, China, and Brazil is likely to support the trend. The shift from agricultural waste to predefined foods by farmers to enhance the health of animals can drive the demand for compound feeds.
Furthermore, it is estimated that the number of households with animals are expected to increase considerably in the future. This factor can benefit the growth of the Compound Feed Industry. The growth of the Compound Feed Industry can be analyzed based on the latest market trends, potential challenges, influential factors, and product demand and supply rates. The market is expected to grow at a CAGR of 4.02% which is a significant leap forward.
Analysts also predict that the market will reach US$539.9 billion value by 2023. However, growing concern regarding the toxic effects of particular synthetic compound feed and consistent decline in the usage of antibiotics, have encouraged the compound feed manufacturers to focus on enhancing the usage of natural and organic compound feed ingredients. This factor is further projected to drive the demand for natural/organic compound feed ingredients during the forecast period.
Competitive Analysis:
Animal feed producers and suppliers in the Compound Feed Industry are COFCO (China), United Animal Health Inc. (U.S.), Land 'O Lakes Inc. (U.S.), Nutreco NV (The Netherlands), Weston Milling Animal Nutrition (Australia), Feedone Co., Ltd. (Japan), Archer Daniels Midland (ADM) Company (U.S.), PT Japfa Comfeed Indonesia Tk (Indonesia), Cargill Inc. (U.S.), New Hope Group (China), Charoen Pokphand Foods PCL (Thailand), Neovia Group (France), and ForFarmers NV (The Netherlands).
Expansions, acquisitions, and agreements are corporate strategies of these players to expand their reach. For instance, Cargill, Inc., acquired Mulpuri Foods & Feeds in January 2018 to increase their portfolio of fish feeds and cater to the domestic fishery industry.
Market Segmentation
The Compound Feed Industry is highly dynamic. Market players across several regions are working on improving their R&D practices in a bid to innovate and launch new products, which further enhances the development pace of the market. The global Compound Feed Industry report segments the market on the basis of supplement, ingredient, and livestock. Based on ingredients, the global compound feed can be classified into cereal by-products, cereals, oilseed meal, molasses, oils, supplements, and others. Primary supplement areas that are expected to boost the demand for compound feed include antibiotics, vitamins, antioxidants, enzymes, amino acids, acidifiers, and others. Also, the market has been segmented into livestock category which covers swine, poultry, ruminants, aquaculture, and others.
Regional Overview
The regional analysis for the global Compound Feed Industry is performed based on regional market trends, scenarios, impactful market driving factors, and potential challenges. North America, Europe, Asia Pacific, and the MEA region are the primary markets that are expected to contribute to the growth of the Compound Feed Industry. Countries such as the United States and China have a balanced demand-supply circumstance in the compound feed products industry, owing to which favourable developments in manufacturing procedure and ingredient quality are expected to be witnessed by the compound feed manufacturing companies operating in these regional markets. Chinese compound feed ingredients manufacturers have consolidated at a faster pace compared to the other emerging countries in the world, in terms of acquisitions and business integrations. North America and the Asia Pacific are two prominent consumers and manufacturers of compound feed.
Press Release@ https://www.marketresearchfuture.com/press-release/compound-feed-market
Industry News
Food Safe Technologies has recently launched an exotic range of novel and cost-effective animal feed ingredients which are extremely valuable for maintaining the desired nutrition level in animals and ensuring their proper health. The brand offers optimum-quality natural antioxidants for manufacturing animal feeds. The organization's new brand of organic antioxidants provides the animal feed manufacturers with an incredible range of antioxidant improvident.
NOTE: Our Team of Researchers are Studying Covid19 and its Impact on Various Industry Verticals and wherever required we will be considering Covid19 Footprints for Better Analysis of Market and Industries. Cordially get in Touch for More Details.
Contact us:
Market Research Future (part of Wantstats Research and Media Private Limited),
99 Hudson Street,5Th Floor, New York,
New York 10013,
United States of America
