The global compound feed market size is poised to exhibit monumental growth from 2023 to 2033. According to the research report published by FMI, the global market is projected to cross a valuation of US$ 418 billion in 2023. It is predicted to surpass a valuation of US$ 674.42 billion by 2033. The market is anticipated to showcase a modest CAGR of 4.9% from 2023 to 2033.
Urbanization and industrialisation are consistently mushrooming across the globe. The increasing global population is resulting in a surge in demand for poultry, meat, and dairy products. With increasing urbanization, the purchasing power of consumers is also increasing. The demand for food goods including beef, milk, eggs, and other dairy products is projected to increase as urbanisation and industrialization progress. An increase in industrial livestock production methods is likely to boost the demand for compound feed in coming years.
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Compound feed is emerging as a preferred choice over conventional feed due to its effectiveness, economic advantages, and ease of storage and transportation. This method offers an economical way of providing animals with the necessary nutrients for optimal growth and health. With the ability to tailor formulations to meet specific nutritional requirements and developmental stages of animals, compound feed gains favor over traditional alternatives.
Market Dynamics:
- Effectiveness and Economy: Compound feed is recognized for its effectiveness and economic advantages compared to conventional feed.
- Storage and Transportation: The ease of storage and transportation further contribute to its popularity.
- Tailored Nutrition: Customizable formulations for diverse animal nutritional needs and developmental stages enhance its appeal.
Market Growth Factors:
- Availability of Ingredients: Ready availability of ingredients from various sources contributes to a stable and reliable feed supply.
- Supply Chain Expansion: The expansion of supply chain networks and manufacturing capacities augurs well for market growth.
Regional Insights:
- Asia Pacific: Rising meat consumption driven by economic growth and population increase, especially in China, Japan, India, and other Southeast Asian nations, is set to propel the demand for compound feed.
- Market Size: The global market size reached nearly US$ 335.42 billion in 2018 and is expected to witness a CAGR of 4.6% from 2023 to 2033.
Segment Analysis:
- Mash Segment: Projected to achieve a modest CAGR of 4.6% from 2023 to 2033.
- Cereal Segment: Anticipated to account for a revenue of nearly US$ 283 billion by 2033.
Key Takeaways:
- Market Size: Achieved a worth of US$ 400 billion in 2022.
- Asia Pacific Revenue: Expected to generate approximately US$ 280 billion by 2033.
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Recent Developments Observed by FMI:
- Precision Livestock Analytics, a provider of livestock data analytics, was acquired by Cargill in June 2021. The acquisition is intended to assist livestock farmers in enhancing the health and growth of their animals.
- In May 2021, DSM purchased First Choice Ingredients. The goal of this acquisition is to strengthen the company’s range of ingredient solutions.
- In April 2021, Alltech acquired Solbiosur, a significant Argentine provider of animal feed. The acquisition intends to increase the company’s market share in South America.
- Sojaprotein, a top European manufacturer of plant-based protein components, was acquistion by ADM in March 2021.
Compound Feed Market Segmentation
Compound Feed Market by Ingredients
- Compound Feed in Cereals
- Compound Feed in Cakes & Meal
- Compound Feed in Animal By-Products
- Compound Feed in Additives
- Compound Feed in Supplements {Vitamins, Enzymes, Acidifiers, Amino acids, Probiotics & Prebiotics}
Compound Feed Market by Form
- Compound Feed in Pellets
- Compound Feed in Mash
- Compound Feed in Crumbled
Compound Feed Market by Livestock :
- Compound Feed in Poultry {Broilers, Layers, Breeders}
- Compound Feed in Ruminants
- Compound Feed in Swine
- Compound Feed in Aquaculture
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Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 5000 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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