Compound Feed Market by Ingredient (Cereals, Cakes & Meals, By-products, and Supplements), Form (Mash, Pellets, and Crumbles), Livestock (Ruminants, Poultry, Swine, and Aquaculture), Source (Plant-based & Animal-based) & Region - Global Forecast to 2027
Northbrook, IL 60062 -- (SBWIRE) -- 02/08/2023 -- According to a research report "Compound Feed Market by Ingredient (Cereals, Cakes & Meals, By-products, and Supplements), Form (Mash, Pellets, and Crumbles), Livestock (Ruminants, Poultry, Swine, and Aquaculture), Source (Plant-based & Animal-based) & Region - Global Forecast to 2027" published by MarketsandMarkets, the global compound feed market is estimated to be valued at USD 521.3 billion in 2022. It is projected to reach USD 641.2 billion by 2027, with a CAGR of 4.2%, in terms of value between 2022 and 2027. Some of the reasons driving the growth of the compound feed market are increasing demand for meat consumption in developing countries, increasing livestock farming, growing application of animal-based products in the food industry, and rising incidence of animal diseases.
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By ingredient, the cereals segment dominates the compound feed market
Cereals are a source of nutrition for animals when incorporated into feed. Whole and ground grains and whole plants harvested before maturity and silage are used as fodder in compound feed. They are used to fulfill the fiber requirement of the livestock. The consumption of cereals depends on factors such as the cost and availability of different cereals in various regions.
The plant-based segment is projected to account for the largest market share in the compound feed market during the forecast period
Based on the source, the plant-based segment is projected to account for the largest market share in the compound feed market. Major sources for obtaining plant-based compound feed are oils, vegetables, grains, and others. Factors driving this categorys growth are nutritional profile, low-cost availability of raw materials, and environmentally friendly products. Most of the players in the market provide plant-based products, considering the demand from the end-users. Most products available in the market are currently sourced from a plant, which has increased application in ruminant nutrition.
The crumble segment is projected to grow at a significant CAGR in the compound feed market during the forecast period
The compound feed market is segmented by form into mash, pellet, crumbles, and other forms. The other forms include cubes and cakes for animals like calves, milk cows, and feedlot livestock. Crumble is usually prepared by pelleting the mixed ingredients and crushing the pellet into a coarser consistency. This form has recently become popular in broiler production due to feeding convenience; crumbles are the second-most preferred form after the pelleted form.
The poultry segment is projected to dominate the compound feed market during the forecast period
Based on livestock, the poultry segment is projected to account for the largest share of the compound feed market. The poultry industry is the largest and fastest-growing sector in terms of animal production. Poultry is considered a universal food, due to which the livestock are domesticated for commercial purposes, thus increasing the demand for compound feed.
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The Asia Pacific is the highest-growing region in the compound feed market during the forecast period
The Asia Pacific region is one of the fastest-growing regions in terms of meat consumption, production, and developing economies are contributing to the growing demand. Feed is an important constituent of agriculture, and the region is the largest producer of feed. Factors such as high demand for meat and animal by-products, rising demand for processed food, and increasing disposable income contribute to the rising demand for compound feed in the region.
This report includes a study on the marketing and development strategies, along with the product portfolios of leading companies. It consists of profiles of leading companies, such as Cargill, Inc. (US), ADM (US), Charoen Pokphand Foods (Thailand), New Hope Group (China), Land O'Lakes (US), Nutreco N.V. (Netherlands), Alltech, Inc. (US), Guangdong Haid Group Co., Ltd (China), Weston Milling Group (Australia), Feed One Co. (Japan), and others.
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