Market Size of Africa Compound Feed Industry
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| Market Size (2024) | USD 21.95 Billion |
| Market Size (2029) | USD 27.10 Billion |
| CAGR (2024 - 2029) | 4.31 % |
| Market Concentration | High |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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Africa Compound Feed Market Analysis
The Africa Compound Feed Market size is estimated at USD 21.95 billion in 2024, and is expected to reach USD 27.10 billion by 2029, growing at a CAGR of 4.31% during the forecast period (2024-2029).
- To some extent, raw materials for animal feed are adequately available in the animal feed market of Africa, particularly maize, the major ingredient required by many of the animal feed manufacturers in the country.
- In the last few decades, Africa has witnessed a significant rise in per capita income, which has led to urbanization and an improved standard of living. Rapid growth in disposable income, coupled with globalization, increased meat consumption, in turn boosting the feed industry in South Africa.
- South Africa dominates the market due to the growing demand for meat and animal products which is the major driving factor behind the growth of the African compound feed market. The use of compound feed is particularly significant in intensive livestock production systems. This has resulted in the rapid growth of these systems in Africa, mainly due to the shortage of land and abundance of labor. It is a positive sign for the feed market.
