Animal Feed, which also referred to as feed is the food that is grown or developed for livestock and poultry. The state of the modern feeds is the selection of and blending of the different to facilitate the provision of diets high in nutritional content and nutritional values. The main objective is to maintain the health of the animals and increase the quality of such end products such as meat, milk, and eggs, which are in high demand due to the increasing meat consumption globally. Moreover, there are continuous and ongoing improvements and enhancements in the products being offered have resulted from research and initiatives being taken by agricultural researchers and scientists. Moreover, some feeds, which are also used such as pasture grasses, hay crops, silage crops, and other cereal grains specifically for use by animals. Other food crops such as wheat, fruits, vegetables, and roots may be fed to the animals. This is, therefore, increasing the demand for animal feed products is expected to increase the market size over the forecast period.
Animal Feed Market, by Type segment
The quality of the animal feed is improving which, is improving by flowing investments in the food and beverage industry is offered to the animal in three types, which in turn depends upon easily and effectively the animal can consume it, and how much time it takes for the proper digestion of the feed. The three types of hat it is available are explained below.
Fodder, which is a type of animal feed product, among two other types available, is used to provide optimum nutrition to the domestic livestock such as goats, cattle, swine, and goats among other animals. The major constituents of fodder include matter derived from plants such as hay, straw, and grains. This type of feed is offered to the animals after the harvesting of the plants. Other types of foods or mixtures can be added to the food to increase the nutritional value and the nutritional content present in it, such as meat and bone among others.
Forage is a feed that is different from fodder sue to the reason that is the plant matter specifically grown in an area, which is a confined area for the main objective of being grazed upon by the livestock. The major constituents of this type of feed are legumes, grasses, corn, oats, alfalfa among other highly nutritious and other edible plants. So, this act is of animals grazing on the specially grown crops or plant matter in a confined area is called foraging.
The most commonly and widely used type of animal feed product is the compound feed, which is also referred to as feedstuffs. They are basically, a blend of some additives and mixtures of various types of raw materials, which are specifically developed and formulated to suit the nutritional requirements and needs of a particular animal. The basic firms they are produced in pellets and crumbles. The function and purpose they fulfill are completing the complete needs and requirements of essential vitamins and minerals that must be present in the daily animal diet. Often some additives like extra vitamins and minerals can be added to boost the properties of the feed an aid in effective digestion and absorption.
Product launches and Collaborations in the animal feed market
The livestock owners are getting conscious and starting to give importance to the health needs of the animals to improve their health, and make the production of top quality and cater to the increasing consumption of meat and eggs, thus increasing the demand for animal feed products. This will result in a surge in the animal feed market growth. The market players are highly involved and participating in the market to improve and enhanced animal feed products and to encourage the use of such products among the people. For example, in October 2019, a company Premier Nutrition, based in the UK, announced the launch of their new product, “Premier Atlas”, which is a feed ingredients matrix. The objective of this product launch as to aid the nutrition experts to formulate and develop livestock rations accurately and effectively. In May 2019, Biochem, which is a company involved in the manufacturing of supplements and feed additives for different livestock announced the launch of their product line designed for catering to the ruminant needs called the “RumiPro”.
The product line was comprised of three products, out of which, two products that were renamed, and re-included in the product line. One of the products in the line is called the “Probio-Sacc 2G” that is able to facilitate stabilization of the rumen conditions (which are necessary as rumen is an important part of their digestive system), by utilizing the yeast present in the combination with the hydrolyzed yeasts. As the raw materials have been changed, the product now can facilitate easier microbial fermentation, stabilization of the pH level of the rumen, and increases the digestibility and increased milk production. Lastly, in May 2019, Bayer Animal Health GmbH announced that is has entered into a global research and development collaboration agreement with Nutreco, to augment the development of advanced technologies for animal health and improve the state of animal nutrition industries. The project is aimed to improve cattle health.
Currently, compound type of animal feed is expected to hold a significant share in this market and is anticipated to witness a fast growth rate in the upcoming years due to the burgeoning demand from livestock owners, in order to improve the health of their animals. With respect to current market trends, it is anticipated that the compound feed mixed with feed additives, and compound feed with enhanced properties for specific livestock. The market of animal feed will flourish in the upcoming years with demand for high-quality meat, eggs, and milk being generated globally in countries like Japan, China India from the Asia Pacific region and other countries in the Middle East region, as it forms an essential part of their diet. The growing need for improving product quality among the livestock owners is further increasing the demand for feed additives. This is one of the major factors, which will continue to play a role in driving this market and will attract a lot of new entrants who will bring new and better changes and enhancement in Animal Feed products. Thus, the market will remain competitive in the upcoming years and it is projected to show modest growth in the upcoming years.