Market Size of Australia Compound Feed Industry
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| Historical Data Period | 2019 - 2022 |
| CAGR | 4.20 % |
| Market Concentration | High |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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Australia Compound Feed Market Analysis
The Australian compound feed market is projected to register a CAGR of 4.2% during the forecast period.
- The growing demand for meat and aquaculture products is the major driving force behind the growth of the compound feed market. Increased awareness regarding quality meat and milk products and increased livestock production augment the market's growth.
- According to Alltech Feed Survey 2021, animal feed production in Australia majorly comes from more than 160 mills in the country. The rate of meat consumption has increased in Australia due to the increasing awareness and consumption of protein-rich healthy food. These factors are expected to drive the compound feed market during the forecast period.
- The meat export from the country has been rising significantly due to the rising demand for compound feed. According to ITC Trademap data, in terms of value, meat exports in 2021 have witnessed a growth of 10% as compared to the year 2018. The increased demand for meat in countries, especially China, the United States, Japan, and the Republic of Korea, is expected to grow meat production in Australia.
