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The Global Compound Feed Market is segmented by animal type (ruminants, poultry, swine, aquaculture, and others), by ingredients (cereal, cakes & meals, by-products, and supplements (vitamins, amino acids, enzymes, acidifiers, probiotics and prebiotics, and other supplements) and by geography into (North America, Europe, Asia-Pacific, South America, and Africa.)
Study Period:
2016-2025
Base Year:
2020
Fastest Growing Market:
North America
Largest Market:
Asia Pacific
CAGR:
4.1 %
The Global Compound Feed Market is projected to grow at a CAGR of 4.1% during the forecast period (2020-2025). 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. The market for compound feed is growing due to the increasing demand for dairy products, growing inclination toward animal-based food, and increase in feed demand around the world. Compound feed maintains the health of animals and, thus, helps increase the quality of end products, such as eggs, milk, meat, and fish. Cattles are one of the major consumers of compound feed, with a prominent share, due to high demand for beef around the world, followed by the poultry segment. Poultry and ruminants are expected to grow at a higher rate, due to the changing dynamics of industrialization in the meat industry. The increased demand for compound feed across the globe is highly hampered by the prevailing Covid-19 pandemic which has resulted in supply chain disruption restricting the product trade. This therefore is anticipated to continue further in case the restriction on logistics movement is extended to the third quarter of 2021.
Compound feed is a mixture of raw materials and supplements fed to the livestock, sourced from either plant, animal, organic or inorganic substances, or industrial processing, whether or not containing additives. While soybean, corn, barley, wheat, and sorghum are the most commonly used raw materials, vitamins, minerals, and amino acids are the most common additives blended to form compound feed. The Global Compound Feed Market is segmented by animal type (ruminants, poultry, swine, aquaculture, and others), by ingredients (cereal, cakes & meals, by-products, and supplements (vitamins, amino acids, enzymes, acidifiers, probiotics and prebiotics, and other supplements) and by geography into (North America, Europe, Asia-Pacific, South America, and Africa)
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The worldwide economic downturn has had a very limited effect on the global meat market, which has maintained its positive outlook. The highest growth for meat consumption is expected from the Asia-Pacific and South American regions because of changing diet patterns, urbanization, population, and economic growth. For example, the Chinese demand for meat continues to surpass the domestic supply, according to Agriculture and Agri-food Canada. Fish are low in fats, cholesterol, and carbohydrates. Although not very high in protein, fish also provide essential vitamins and amino acids. The demand for seafood is increasing rapidly as more and more people are becoming aware of the health benefits of fish consumption. Globally increasing population trends are also supporting the growth of the world meat and seafood market. Increasing life expectancy and limited availability of land and water resources for animal feed production, and increasing use of these resources for food and ethanol production are increasing the demand for animal feed in the global meat industry.
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The demand for meat protein is rising in the Asia-Pacific region especially in China, India, Malaysia, Thailand, etc. with rapid economic growth in the region. This increased demand for meat protein has triggered meat production in the region, where uptake of compound feed has increased and is expected to show a healthy growth rate. Apart from improving nutritional value compound feed is gaining importance for their role in meat quality improvement. In the year 2019, the Indian commercial feed industry largely caters to poultry sector at around 70-75%, followed by aquaculture at 10-12%, dairy cattle at 10-15%. The country’s commercial feed production was at nearly 39 million metric tons. Poultry feed garners the highest share in the country’s feed production, accounting for nearly 24.9 million metric tons in 2019, followed by ruminants at 11.6 million metric tons, aquaculture at 2.3 million metric tons, and swine at 0.07 million metric tons. As the country holds a very minimal share in the swine population in the overall Asia-Pacific market, the African Swine Fever outbreak has not impacted the country’s feed industry. According to the Food and Agricultural Organization statistics data, in 2018, the country holds only 1.8% of the Asia-Pacific’s swine population.
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The global compound feed market is concentrated in the Asia-Pacific and North America region and is fragmented among small regional players. Leading companies focused on acquiring feed mills and small manufacturing for expansion of the business in local as well as foreign markets. Some of the players have been expanding their geographical presence by acquiring or merging with the manufacturers in the foreign market. The leading companies focused on the expansion of the business across regions and setting up a new plant for increasing production capacity as well as a product line. The companies are also increasing production capacities of their existing plants.
1. INTRODUCTION
1.1 Study Deliverables
1.2 Study Assumptions and Market Definition
1.3 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET DYNAMICS
4.1 Market Overview
4.2 Market Drivers
4.3 Market Restraints
4.4 Porter's Five Force Analysis
4.4.1 Bargaining Power of Suppliers
4.4.2 Bargaining Power of Buyers
4.4.3 Threat of New Entrants
4.4.4 Threat of Substitutes
4.4.5 Intensity of Competitive Rivalry
5. MARKET SEGMENTATION
5.1 Animal Type
5.1.1 Ruminants
5.1.2 Poultry
5.1.3 Swine
5.1.4 Aquaculture
5.1.5 Other Animal Types
5.2 Ingredient
5.2.1 Cereals
5.2.2 Cakes & Meals
5.2.3 By-products
5.2.4 Supplements
5.2.4.1 Vitamins
5.2.4.2 Amino Acid
5.2.4.3 Enzymes
5.2.4.4 Prebiotics and Probiotics
5.2.4.5 Acidifiers
5.2.4.6 Other Supplements
5.3 Geography
5.3.1 North America
5.3.1.1 United States
5.3.1.2 Canada
5.3.1.3 Mexico
5.3.1.4 Rest of North America
5.3.2 Europe
5.3.2.1 Spain
5.3.2.2 United Kingdom
5.3.2.3 France
5.3.2.4 Germany
5.3.2.5 Russia
5.3.2.6 Italy
5.3.2.7 Rest of Europe
5.3.3 Asia Pacific
5.3.3.1 China
5.3.3.2 India
5.3.3.3 Japan
5.3.3.4 Thailand
5.3.3.5 Rest of Asia-Pacific
5.3.4 South America
5.3.4.1 Brazil
5.3.4.2 Argentina
5.3.4.3 Rest of South America
5.3.5 Africa
5.3.5.1 South Africa
5.3.5.2 Egypt
5.3.5.3 Rest of Africa
6. COMPETITIVE LANDSCAPE
6.1 Most Adopted Competitor Strategies
6.2 Market Share Analysis
6.3 Company Profiles
6.3.1 Charoen Pokphand Foods
6.3.2 Cargill Inc.
6.3.3 Land O Lakes Purina
6.3.4 Alltech Inc.
6.3.5 Archer Daniels Midland
6.3.6 ForFarmers
6.3.7 DeKalb Feeds
6.3.8 Kent Feeds
6.3.9 Weston Milling Animal Nutrition
6.3.10 Nutreco NV
7. MARKET OPPORTUNITIES AND FUTURE TRENDS
8. AN ASSESSMENT OF THE IMPACT OF COVID-19