Overview
The animal feed market is predicted to register a CAGR of 4.50% during the 2019 to 2027 forecast period. The market report predicts a US$730 billion by 2027 value of the market by the end of 2027. The growth is anticipated to be supported by the presence of many untapped opportunities across the market. Based on the report, favorable policies across regional markets will drive growth in the market in the coming years till 2027. However, unstable raw material prices will negatively affect the animal feed market’s growth. The weak supply chain is anticipated to be another factor which could turn out to be a threat to companies during 2019 to 2027. The market report based on primary and secondary data reveals that form and region segments will witness a healthy growth till 2027. While favorable government policies will support the market during the forecast period and the growing demand for innovative products will also help the market globally, the growth could be affected by growing concerns regarding the cost which could hinder business activities. The growing preference of consumers towards alternative solutions is also expected to be responsible for stalled market growth till 2027.
Market Segmentation
The animal feed market is categorized into smaller segments such as form and region in order to analyze the market. The form and region segments are then categorized further. The form segment is categorized into crumbles, mash, pellets, and others. Analysts have studied these sub segments. Based on species, the global animal feed market is further segmented into aqua, poultry, ruminants, swine, and others.
The increasing preference of consumers towards high quality animal feed will drive growth in the market during the forecast period 2019 to 2027. Across all the segments including form and region, the global animal feed market will witness a healthy growth. However, factors such as the weak supply chain could become a threat to the market’s growth. Economic activities surrounding the animal feed sector will also get benefitted from the introduction of new products. Businesses across animal feed have been thoroughly studied and analysed by animal feed industry’s expert researchers. Findings have been published in the animal feed market research report with forecasts till 2027.
Regional Overview
The Animal Feed Market, apart from the product and service related segments, is spread across the world. The regional markets of animal feed covered in the report are North America, Europe, Asia-Pacific, the Middle East and Africa as well as the rest of the world. The growing awareness is set to be a key growth factor for businesses active in the animal feed space. The market across North America is segmented into the United States, Mexico, Canada, and others. Regional markets in the animal feed sector across the European market are segmented into Germany, Italy, the United Kingdom, and France. The market in the APAC region is segmented into India, China, Japan, and others. Animal feed based businesses across the world will be supported by the increasing awareness among consumers during the forecast period 2019 to 2027. However, the growth could be hindered by the lack of awareness. The market is also segmented into the Middle East and Africa regions among others.
One of the major drivers driving demand development in North America is the advent of technical advances to enhance IT technology, such as the introduction of IoT, AI, and big data. Europe, on the other hand, contributed 25.02 percent of global share in 2018, thanks to Russia, France, Germany, and Spain. It is expected to rise at a 4.39 percent CAGR over the forecast period.
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Key Players
Key players in the animal feed market include New Hope Group (China), NUTRECO N.V. (The Netherlands), Cargill, Inc. (U.S.), Land ‘O Lakes Inc. (U.S.), Charoen Pokphand Group (Thailand), ForFarmers N.V. (The Netherlands), Japfa Comfeed Indonesia Tbk (Indonesia), COFCO Limited (Hong Kong), Neovia Group (France), and Archer Daniels Midland (ADM) Company (U.S.).
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