Jamaica Animal Feed Market Size, Share, Opportunities And Trends By Type (Fodder, Forage, Compound Feed), By Livestock (Swine, Aquatic Animals, Cattle, Poultry, Others) And By Raw Materials (Soya, Canola, Other) - Forecasts From 2021 To 2026

The Jamaica animal feed market is evaluated at US$107.558 million for the year 2019 growing at a CAGR of 3.97% reaching the market size of US$141.294 million by the year 2026.

The consumption of poultry meat has been increasing in Jamaica over the years and the continuing trend is anticipated to propel the growth of the animal feed market in Jamaica during the forecast period. Furthermore, the government of Jamaica has committed to the growth and revitalization of the dairy industry in the country. The government is eyeing to restore the milk production of the country to the high levels experienced in the mid-1980s to early 1990s. This is expected to have a positive impact on the Jamaica animal feed market growth. Furthermore, the rise in the consumption of homegrown meat and the decrease in imports in increasing the demand for animal feed and is projected to boost the market growth during the assessment period.

The outbreak of the novel coronavirus disease had a negative impact on the Jamaica animal feed market. The pandemic led to severe disruption of daily lives in Jamaica. A reduced demand was witnessed by the farmers for poultry and livestock in the initial phase of the outbreak. This resulted in the reduction in the demand for animal feed as well and harmed the market growth. Also, the shutting down of restaurants and hotels led to a sudden decline in the consumption of meat, which was another factor behind the decline of the animal feed market growth in Jamaica. However, by the end of the year 2020, the farmers showed resilience and restarted the production at the first sign of opportunity. The demand for baby chicks witnessed an upsurge as many people started opting for broiler farming owing to the unemployment that the pandemic brought in with it in Jamaica. Also, the trade restrictions led to a halt in the imports of the chicken neck and back in the country, and it provided the local farmers with an opportunity to fill the gaps within the marketplace. These factors led to the recovery of the animal feed market in Jamaica after the onslaught of the pandemic.

Support for homegrown poultry

The government of Jamaica has been supporting the local farmers which are expected to continue having a positive impact on the animal feed market during the forecast period as well. The efforts from the government and the local players have been leading to increased preference for locally produced chicken among consumers and have led to a decrease in the imports of chicken, which is boosting the demand for animal feed for local poultry. For the support of the locally produced chicken, companies have also been coming up with campaigns, for instance, Jamaica Broilers Group came up with the “Grow with Hi-Pro” campaign to support local Jamaican farmers by purchasing homegrown chicken. Such efforts of government and companies like Jamaican Broilers Group led to a 22% reduction in the importation of chicken neck and back in the year 2016. Broiler meat production has been increasing in the country with its increased demand. As per Jamaica Broilers Group, the national meat production of Jamaica increased by 5.6% in 2018 compared to the year 2017. The consumption of poultry continues to grow in the country and the trend is projected to continue in the coming years as well and is anticipated to bolster the growth of the animal feed market in Jamaica during the forecast period.

Jamaica Animal Feed Market Scope:

Report Metric	Details
The market size value in 2019	US$107.558 million
The market size value in 2026	US$141.294 million
Growth Rate	CAGR of 3.97% from 2019 to 2026
Base year	2019
Forecast period	2021–2026
Forecast Unit (Value)	USD Million
Segments covered	Type, Livestock, Raw material
Companies covered	Newport Mills, Jamaica Broilers Group, Ryco Jamaica Ltd., JLB International Limited,   NPM, Hamark Farms, T'.S.E.D.D Distributors Limited, Farm Wise Ltd, Websters   Developers Limited, Farm Wise Ltd.
Customization scope	Free report customization with purchase

Segmentation

• By Type
  • Fodder
  • Forage
  • Compound Feed
• By Livestock
  • Pork
  • Aquatic Animals
  • Cattle
  • Poultry
  • Others
• By Raw Material
  • Soya
  • Canola
  • Rendered Meal
  • Others

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