The compound feed market is expected to grow at a compound annual growth rate of 3.76% over the forecast period to reach a market size of US$442.002 billion in 2026 from US$341.361 billion in 2019.
The rising awareness regarding the benefits of quality protein is surging the demand for high-quality meat and hence various livestock farmers are feeding their animals with compound feed so that the animals have high-quality protein content in their meat. Furthermore, the rising awareness among the livestock farmers regarding the nutritional requirements of the livestock has led to high demand for compound feed which is anticipated to augment the growth of the compound feed market during the forecast period.
One of the major factors which are anticipated to propel the growth of the compound feed market is the rising consumption of meat production around the world and the growing demand for it in various countries. The OECD-FAO Agricultural Outlook 2020-2029 reports that the production of meat worldwide is estimated to grow by around 40 Mt by 2029, reaching 366 Mt. Most of the meat production is happening in the developing countries and they account for 80% of the additional output. It also states that the consumption of beef is estimated to boost as well over the succeeding decade to 76 Mt, and is anticipated to have a share of 16% in the total rise in consumption of meat compared to the base period. Also, the succeeding ten years are projected to witness an increase in the consumption of pig meat as well and is estimated to rise to 127 Mt over a decade and to have a share of 28% in the total rise in consumption of meat. According to FAO, the meat consumption of the world was 41.3 kg per capita in 2015 and is projected to increase by around 9.7% to 45.3 kg per capita. Furthermore, as the world is increasingly recognizing the benefits of seafood for human health, the increasing awareness among the population regarding its health benefits is leading to a rise in the demand for seafood. Numerous studies have stated the benefits of seafood for cardiovascular diseases, among various other diseases, which has led to the growing popularity of seafood. The consumption of seafood is projected to grow in the coming years as well and is expected to have a positive impact on the compound feed market during the forecast period.
The COVID-19 pandemic is expected to have a negative impact on the compound feed market growth as due to the pandemic, the supply chains and manufacturing activities all around the world got disrupted. hence, causing a reduction in manufacturing output as well as the supply of compound feed, which is expected to hamper this market growth.
The increasing demand for compound feed has led to the entry of several new market players like ForFarmers in the compound feed market. The entry of these new players in a market where traditional players like Alltech and De Heus already exist is expected to lead to further innovation in the compound feed market. Moreover, in order to further increase their clientele as well as increase their market share in the upcoming years, many of these market players have taken various strategic actions like partnerships and development of novel solutions which primarily focus on providing comfort to the patient, which is expected to keep the market competitive and constantly evolving.
|Market size value in 2019||US$341.361 billion|
|Market size value in 2026||US$442.002 billion|
|Growth Rate||CAGR of 3.76% from 2019 to 2026|
|Forecast Unit (Value)||USD Billion|
|Segments covered||Ingredients, Nutrients, Animal Type, And Geography|
|Regions covered||North America, South America, Europe, Middle East and Africa, Asia Pacific|
|Companies covered||Archer Daniels Midland Company, Nutreco N.V., Cargill, Incorporated, Charoen Pokphand Foods PCL., Alltech, Kent Nutrition Group, Inc, DE HEUS, Ballance Agri- Nutrients Ltd., ForFarmers, Purina Animal Nutrition LLC.|
|Customization scope||Free report customization with purchase|
Frequently Asked Questions (FAQs)
Q1. What are the growth prospects for the compound feed market?
A1. The global compound feed market is expected to grow at a CAGR of 3.76% over the forecast period.
Q2. What will be the compound feed market size by 2026?
A2. The compound feed market is expected to reach a total market size of US$442.002 billion in 2026.
Q3. What is the size of the global compound feed market?
A3. Compound Feed Market was valued at US$341.361 billion in 2019.
Q4. How is the compound feed market segmented?
A4. The global compound feed market has been segmented by ingredients, nutrients, animal type, and geography.
Q5. What factors are anticipated to drive the compound feed market growth?
A5. The growing demand for meat, dairy, and aquaculture products globally is a major factor driving the growth of the global compound feed market.
Archer Daniels Midland Company
Charoen Pokphand Foods PCL.
Kent Nutrition Group, Inc
Ballance Agri-Nutrients Ltd.
Purina Animal Nutrition LLC.
All our studies come with 2 months of analyst support.
We are in compliance with the global privacy laws.