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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

Published: May 2021 | Report Code:  KSI061614111 | Pages:  92

The Jamaica animal feed market is expected to grow at a compound annual growth rate of 3.97% over the forecast period to reach a market size of US$141.294 million in 2026 from US$107.558 million in 2019.

Animal feed is food given to domestic animals, especially livestock, in the course of animal husbandry. there are two basic types: fodder and forage. used alone, the word feed more often refers to fodder. animal feed is an important input to animal agriculture and is frequently the main cost of raising animals. farms typically try to reduce the cost of this food, by growing their own, grazing animals, or supplementing expensive feeds with substitutes, such as food waste like spent grain from beer brewing. Good animal feeding plays a vital role in animal health & welfare and the production of safe and quality products of animal origin.

The increasing demand for proteins of animal origin has led to an intensification of livestock production, mainly based on the use of industrial compound feed. This has led to the increasing use of selected feed grains and fodder seeds, pesticides, and fertilizers, new and unconventional materials in the production of feed such as biofuel by-products and several other agro-industrial by-products. In the past years, several contamination episodes have raised attention on the importance of ensuring feed safety and on the need to prevent and control the presence of old and new hazards, such as dioxin, aflatoxins, and other undesirable substances. Animal wellbeing is highly dependent on feed that reflects well-balanced nutrition.

Some modern agricultural practices, such as fattening cows on grains or in feedlots, have detrimental effects on the environment and animals. For example, increased corn or other grain in feed for cows makes their microbiomes more acidic weakening their immune systems and making cows a more likely vector for E. coli. While other feeding practices can improve animal impacts. For example, feeding cows certain kinds of seaweed, reduces their production of methane, reducing the greenhouse gases from meat production. Animal feed in Jamaica is primarily of three types – fodder, forage, and compound feed. Fodder refers particularly to foods or forages given to the animals (including plants cut and carried to them), rather than that which they forage for themselves. It includes hay, straw, silage, compressed and pelleted feeds, oils and mixed rations, and sprouted grains and legumes. Feed grains are the most important source of animal feed globally.

The amount of grain used to produce the same unit of meat varies substantially. On the other hand, Forage is a plant material (mainly plant leaves and stems) eaten by grazing livestock. Historically, the term forage has meant only plants eaten by the animals directly as pasture, crop residue, or immature cereal crops, but it is also used more loosely to include similar plants cut for fodder and carried to the animals, especially as hay or silage. Lastly, increasing demand for animal-based products among humans as well as increasing focus on animal health is expected to drive Jamaica’s animal feed market growth.

However, high raw material costs and strict government regulations may hinder the demand for animal feed, thus, negatively impacting its market growth in the country.

jamaica animal feed market

The Jamaica animal feed market is segmented on the basis of type, livestock, and raw material.

  • On the basis of type, the Jamaica animal feed market can be segmented into fodder, forage, and compound feed.
  • On the basis of livestock, the Jamaica animal feed market can be segmented into pork, aquatic animals, cattle, poultry, and others.
  • On the basis of raw material, the Jamaica animal feed market can be segmented into soya, canola, and rendered meals.

Growth Factors

  • Growing Cattle Farming

The health benefits of eggs, milk, and meat have increased the pace of industrial farming, as well as the evolving perceptions of buyers about their diet. The development of this trend can be supported by the rise in per capita income and the propensity towards meat and dairy products. Rising demand among human beings for animal-based products would speed up market demand. It will also fuel business growth by concentrating more on animal welfare. The rising momentum of natural growth proponents is also expected to be involved in the market. Increased cattle farming is likely to contribute to an increased demand for animal feed. The need for the market has been supported by a growing consumer understanding of the advantages associated with using feed additives to minimize the decline in disease.

Impact of COVID – 19

The COVID-19 pandemic is expected to negatively impact the Jamaican animal feed market as panic-buying among consumers caused by nationwide lockdowns has contributed to a rise in pet food sales and production. This pattern is, however, not expected to continue after the lockdown and will impact manufacturing, retail, and others. In these times of crisis, producers and suppliers of the feed industry are doing their utmost to ensure that feed is accessible to all processing animals while complying with protocols to protect their employees against COVID-19 and preserve productivity.

jamaica animal feed market

Key Developments

  • December 2020 - Minister of Agriculture and Fisheries Floyd Green has charged local feed manufacturers to engage with local scientists to fast-track research on finding local substitutes for animal feeds, the input for which is largely imported.
  • September 2020 - Jamaica Broilers Group (JBG) has announced it has acquired a feed mill in Georgia for an undisclosed sum.

Competitive Insights

Prominent/major key market players in the Jamaica animal feed market include Newport Mills, Jamaica Broilers Group, Ryco Jamaica Ltd., And JLB International Limited among others. The players in the Jamaica animal feed market are implementing various growth strategies to gain a competitive advantage over their competitors in this market. Major market players in the market have been covered along with their relative competitive strategies and the report also mentions recent deals and investments of different market players over the last few years. The company profiles section details the business overview, financial performance (public companies) for the past few years, key products and services being offered along with the recent deals and investments of these important players in the Jamaica animal feed market.

Jamaica Animal Feed Market Scope:

Report Metric Details
 Market size value in 2019  US$107.558 million
 Market size value in 2026  US$36.141.294 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
    • Corn
    • Others

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