In 2016, the North America compound feed production was around XX million tons with the market value of around USD XX billion. It is expected to reach USD XX billion by 2022 and register a CAGR of XX%, during the forecast period. The increased domestic consumption of meat and aquatic products, technological innovations in the meat processing industry and increased industrial livestock are growing the high-quality meat demand and accelerating the companion animal feed market growth. Further, the increased domestic demand owes to the raising middle-class incomes in emerging economies and demographic factors that include the increasing number of double-income families and strong economies in, both, developed and developing countries.
North American Compound Feed Market Analysis
Growing Technological Advancements for Feed Mills
The feed industry has witnessed great changes in the past few years. The feed mills have been decentralized into smaller mills, increased bulk deliveries, served better products & services and developed more interrelationships with poultry and livestock producers. Therefore, to satisfy the growing demand, more regional and local mills are being built. Currently, owners and managers of feed manufacturer, in North America, need information for decision making about operating practices and efficiency. The global and North America feed mills are getting smarter with the use of NIR technology. The technology allows analysis of incoming raw materials in actual time, permitting reformulation of the diets, on a minute-by-minute basis, to enable consistency of each batch. Moreover, the rapid in vitro digestion modeling systems will offer innovative ways to define the true nutritional value of raw materials, along with the final feed products leaving the feed mill.
In the future, there is a potential to apply artificial intelligence to investigate data and make instant adjustments based on system inputs. The technological advancements are likely to befall in the pelleting process. Further, by controlling more of the parameters involved in pelleting and cooling, there is an opportunity to reduce costs, improve feed quality and assure food safety.
Notable Market Developments
Our Report on North America Compound Feed Market covers: