Pork is mainly consumed in Europe, Asia-Pacific, and North America as a popular meat choice in these regions. Pork production is estimated to grow at a CAGR of 1.7% from 2017 to 2023. Compound feed consumption for swine is mainly concentrated in China, U.S., Europe, Brazil, and Canada as these countries are among the top pork meat producers.
According to FAO (Food and Agricultural Organization), 50% of the global pig population is concentrated in China followed by EU and U.S. Such trends show that these regions will remain the highest compound feed consumers for pork production. Pacific countries like Japan, Australia, Mexico, New Zealand, and North Korea are the major pork importers, whereas China, U.S., Canada, EU, and Brazil are the major pork exporters. With rising pork trade and concerns over food safety, demand for compound feed is expected to increase to ensure meat quality and safety. The global livestock sector is highly dynamic. The demand for processed livestock products is on the rise in the developed countries and many production facilities are increasing their efficiency and environmental sustainability.
The market is growing at a steady rate in developing nations due to the rapid increase in demand for livestock products. The change in demand for livestock products has been largely driven by growth in human population, income and urbanization. The demand is estimated to be affected by socio-economic factors such as human health concerns and changing socio-cultural values. The impact of these factors will vary from region to region.
Innovation in production technologies has led to mass breeding of livestock, thereby increasing the supply of meat and milk products. However, in the future, it is estimated that the supply will be affected by competition for raw materials between the food, biofuel and feed industry. Production is also likely to be increasingly affected by environmental and animal welfare legislations. Developments in breeding, nutrition and animal health will continue to contribute to increasing production potential, efficiency and genetic gains.
Major Key Player: CARGILL INC., ALLTECH INC., NUTRECO NV, DEKALB FEEDS, WEN'S GROUP AMONGST OTHERS.