The compound feed market in Canada is showing a positive trend, due to the growth of the livestock industry and the increase in meat demand. Cattle feed is the largest segment, estimated to grow at a CAGR of 2.3% from 2017 to 2022. Increasing demand for pork and beef, both domestic and export, is expected to drive compound feed consumption in these segments. Aqua feed is estimated to be the fastest-growing segment. It recorded a revenue of USD XX million in 2016 and is expected to grow at a CAGR of 2.3% from 2017 to 2022. The Canadian compound feed market has many global as well as regional players, mainly in the animal feed business, and this market constitutes a minor share in terms of their product portfolio, sales and volume.
Livestock has always been an important industry in the Canadian agricultural sector. It shows a positive future outlook, due to rising domestic consumption of meat as well as increasing meat exports. The country's small biofuel industry allows more grain input in livestock production, giving Canada the advantage of lower feed cost. These factors are resulting in an increased demand for compound feed. Food safety concerns in Canada are also high, resulting in increased demand for feed additives in livestock production. Many government agencies, such as the Canadian Food Inspection Agency, are already working to enhance awareness among livestock producers and increase the efficiency of the domestic livestock industry. Key players are focused on new product development and differentiation to strengthen the position in the market.
In this report, the Canadian compound feed market is segmented by type of feed and by animal type. Market size and forecast are provided for each of these regions in the report. Major players in the compound feed market are Cargill (U.S.), ADM (U.S.), Nutreco NV (The Netherlands) and Charoen Pokphand (Thailand), among others
Key Deliverables in the Study