The market a USD 114 Billion market in 2013, is estimated to grow at a CAGR of 2.9% to reach USD 138.5 Billion by 2020. Asia-Pacific and South America are set to contribute the most towards the global market growth.
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 2012 to 2017. 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.
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