Compound Feed Market Size

Market Overview

The Compound Feed Market size is estimated at USD 6.85 billion in 2024, and is expected to reach USD 7.81 billion by 2029, growing at a CAGR of 7% during the forecast period (2024-2029).

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 are two other factors augmenting the growth of the market studied. For instance, the livestock sector in Qatar saw robust growth in 2021, recording over 1.5 million registered heads of livestock, which is greatly increasing local production of meat and dairy.

Saudi Arabia is one of the fastest-developing animal compound feed markets in the GCC region. Growing consumption of raw and processed meat, along with emerging health consciousness among consumers drive the requirement for a compound feed market in the country. As per the USDA, in 2021, the consumption of beef and veal meat was 194 (1,000MT CWE) increase, compared to 183 (10,000MT CWE) in 2020.

Significant companies like IFFCO, Arasco, Agthia, Trouw Nutrition (Nutreco), and Al Ghurair Foods Llc are some leading players in the global compound feed market. In the recent year, Agthia launched four new camel feed (including compound feed) products on the sidelines of the Global Forum for Innovations in Agriculture in Abu Dhabi. The new products have been designed specifically to meet the nutrition and health needs of camels in the UAE and the region. Hence, the GCC compound feed industry is anticipated to witness substantial growth during the forecast period.