Russia's animal feed market was valued at US$17.970 billion in 2019 and is projected to expand at a CAGR of 5.02% over the forecast period to reach US$24.110 billion by 2025. Animal feed is considered as the demand-led 'livestock revolution' which is taking place as a result of rapidly growing world population, income growth, and increasing urbanization. Growing consumption of meat and other end products such as milk, eggs across the country due to increasing disposable income is considered as one of the prime factors driving the growth of the market during the forecast period. Russia holds a significant share in global animal feed production and increasing consumption of meat in the country drives the market for poultry feed in the coming years. In addition, animal feed market for swine is expected to be the fastest-growing segment on account of the increasing swine population in the country. For instance, according to FAO pigs production in Russia has increased from 4,307.703 thousand in 2010 to 5,506.924 thousand in 2017. However, feed mills in the country have failed to control the dependence of import on various feed components such as microbiological additives, high protein products among others,
Growing preference towards animal based products and increasing awareness about animal health to ensure quality is driving 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. For instance, according to the government of Russia, in 2018, milk production in the country has increased by nearly 1.5 percent in 2018 reaching 30.6 million tons and ministry further forecasts that it will increase by more than 2.8 percent reaching 31.1 million tons in 2019. Furthermore, live stocks in the country are highly dependent on grazing ground for feed, and with increasing, industrialization and rapid urbanization the size of agricultural landholding is also decreasing which somehow decreases the prospects of grazing ground. The decline in grazing ground fuels the demand for animal feed as feed works as the substitute for the feed from the grounds. Also, Russian meat producers have been effectively protected from import competition by high-tariff barriers and in recent years there is an improvement in meat production efficiency thanks to an increase in competition among domestic players.
Poultry is growing at a significant rate
By life stock, the poultry segment is expected to be one of the main drivers for the overall feed market on account of increasing poultry production in the country. The swine segment holds a significant share in the Russian animal feed market and is expected to grow at an exponential rate in the coming years. Increasing diseases in cattle due to improper intake of food affect their health which further affects the production process and thus augments the market growth opportunities for cattle feed manufacturers and vendors during the forecast period.
Major players in the Russia 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 Russian animal feed market.
Kemin Industries, Inc.
Royal Agrifirm Group
Charoen Pokphand Foods PCL
Archer Daniels Midland Company
Royal DSM N.V.
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