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.