Albany, NY -- (SBWIRE) -- 09/23/2014 -- A latest study on the compound feed market and feed additives market by Transparency Market Research states that this market will witness a CAGR of 3.72% between 2013 and 2019. The report estimates the global feed market to be worth US$ 15.1 Billion as of 2012, and projects this market to grow to US$ 18.3 billion by 2017. The global feed market will chart a CAGR of 3.86% between 2013 and 2019.
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Compound feed comprises food products manufactured especially for animals. Feed additives, on the other hand, are supplements used in compound feed to improve the overall health and productivity of animals.
The report segments the compound feed market and feed additives market by product as: Cattle feed, swine feed, poultry feed, pet food, and aqua feed. The feed additives market is segmented by product as: vitamins, additives, enzymes, amino acids, antioxidants, and feed acidifiers. Geographies analyzed and forecasted in the compound feed market and feed additives market include: North America, Asia Pacific and Japan, Latin America, Middle East and Africa, and Europe.
The market notes that within the compound feed market, the swine feed segment is poised for a CAGR of 3.92% between 2012 and 2017, making it the fastest growing segment within this market. As of 2012, the swine feed market accounted for the largest share (31%) of the compound feed market. The report anticipates the swine feed segment to be worth US$ 81.1 billion by 2017. Besides swine feed, the other sub-sectors that will drive growth in the compound feed market are: poultry feed, cattle feed, aqua feed, as well as other animals (sheep, horse, goat).
In the feed additives market, the dominating segment in 2012 was that of feed amino acids 30%. According to the report, feed amino acids will touch US$ 5745 million by 2017. The highest growth rate will be reported by the feed acidifiers segment at 5.98% between 2012 and 2017.
Compound feed is an important element in livestock rearing, and accounts for as much as 70% of the total production costs associated with rearing livestock. The usage of compound feed has a direct and significant impact on the production costs incurred by farmers. The effective usage of quality compound feed also determines farmers’ returns, as it improves the quality and quantity of meat, milk, and eggs. In the past five years, the compound feed market has shown significant growth, at a rate of 3.94%.
By geography, the compound feed market is led by North America, which registered market revenue to the tune of US$ 72.3 billion in 2010. The most promising growth potential in the compound feed industry will be shown by Asia over the forecast period as the consumption of animal-based and animal-derived products is escalating here because of high disposable incomes. In the global feed additives market, Europe was the largest spender with a 33.5% share of the global feed additives market, amounting to US$ 5078.7 million as of 2012.
The report on the compound feed market and feed additives market studies each product segment and geographical market in detail to offer sharp insights and better-decision making capabilities to market players.