Australia animal feed market was valued at US$4.299 billion in 2019 and is projected to expand at a CAGR of 3.18% over the forecast period to reach US$5.187 billion by 2025. Animal feed is a food given to animals in the course of animal husbandry which is now widely popular in the country. Increasing poultry meat production is expected to be one of the prime drivers for the growth of the market during the forecast period. According to the Australian Bureau of Agricultural and Resource Economics, chicken meat production in Australia has increased from 834409 thousand tonnes in 2009 to 1238000 thousand tonnes in 2017. In addition, the growing number of slaughterhouses in the country and increasing health awareness is further expected to propel the market growth opportunities in the coming years. Also, increasing per capita consumption of eggs and chicken is also expected to fuel the market growth for the poultry segment during the forecast period. According to the Australian Chicken Meat Federation, per capita consumption of chicken has increased from 36.30 kg in 2009 to 49 kg in 2017. Also, according to the Australian Bureau of Statistics, cattle slaughtered have increased by 10.3% from November 2018 reaching 744,900 heads in October 2019.
Cattle sector playing a vital role in the overall growth of the market
The demand for feed has been rising because of the increasing number of facilities for meat and other production and to ensure the quality of the animal products breeders use feeds to meet the dietary requirements of the livestock. In addition, increasing dairy milk consumption would also provide high market growth opportunities which will further attract numerous market players to invest in the market. According to the Australian Competition and Consumer Commission, dairy is Australia’s third-largest agricultural commodity in terms of farm gate value, in 2017-18 nearly 9.3 billion liters of milk were produced nationally. Increasing investment in the dairy industry by both public and private players and rising research and development is further anticipated to widen up the growth opportunities for vendors and manufacturers in the coming years. For instance, in mid-2018 the government of Western Australia invested nearly $200,000 in the dairy industry to attract co-investment in dairy research and development to capture milk processing and export opportunities.
Poultry is the prime reason behind the growth in Australia Animal Feed Market
Livestock sectors (such as poultry) is one of the largest growing sectors in the country, witnessing huge investment and innovative developments in providing better quality products and facilities. The rapid growth in the livestock sector presents both opportunities and challenges. Due to increasing consumer health concerns and continuing growth of the fast-food industry, there is a requirement to have a check on the health of the animals which further drive the demand for animal feed in the coming years
Major players in the Australia animal feed market have been covered along with their relative competitive position and strategies. The company profiles section details the business overview, financial performance for the past three years, key products and services being offered along with the recent developments of these important players in the Australia animal feed market.