The animal feed ingredients market is projected to expand its roots at an average CAGR of 4.0% during the forecast period. The market is likely to hold a revenue of USD 39.51 billion in 2023 while it is anticipated to cross a value of USD 60.65 billion by 2033.
Animal feed protein ingredients constitute amino acids that promote hormone and enzyme secretion, necessary for normal body function. The deficiency of these amino acids leads to health issues, declining efficiency, and output in animals and livestock. There is an increased awareness about the benefits of high-quality feed ingredients among cattle farmers.
Augmenting demand for proper feed in cattle, poultry, swine, and aquaculture segments is driving the animal feed ingredients market. For animal productivity and ranch profitability, it is crucial to feed adequate protein and proper food ingredients to animals. The urgent need to differentiate products based on superior quality grades, regulated by the robust product quality and safety measures is propelling the growth of the feed ingredient market.
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The animal feed ingredient business is trending over the advent of plant-based protein that delivers high nutritional value to the animals for better performance. The different types of feed ingredients are helping the end users while launching these products at an affordable price is also increasing the competition among the key players.
Key Takeaways from Market Study
- The poultry livestock feed ingredients segment cut across USD 80 billion in the year 2020. The chickens have dominated the poultry animal feed ingredients market.
- Broilers have a huge requirement of dietary protein sources, driving the animal feed protein ingredients market for enhancement of broiler performances and ranch profitability.
- The animal feed protein ingredients market from oilseed meals (plant-based animal protein feed) was about USD 125 billion in 2020 and is expected to witness significant gains over the forecast period.
- Soybean meals may witness strong gains in animal feed ingredients. Around 70% of the total soybean animal feed ingredients are employed in livestock feeding. The amino acid profile of a soybean meal is on par with a fish meal and hence is an effective substitute with high protein.
- Global meat consumption has increased by ~60% in the last 20 years, propelling the overall demand for animal feed.
- North America followed by Europe currently holds the majority of share in the consumption as well as production of animal feed ingredients, thanks to the presence of major cattle farms in the region.
- In the Asia-Pacific region, the animal feed ingredients market is anticipated to expand and is poised to surpass USD 90 billion by 2027 owing to high investments in livestock farming assisted by government subsidies, price support, and schemes.
- The growth in the production of poultry products in India, Brazil, Taiwan, and Vietnam, is due to the transformation of poultry production and livestock farming from a backyard activity into a major commercial activity in the recent past.
- The outbreak of diseases in animal wet markets, increasing cases of zoonotic and food-borne diseases is expected to fuel the demand for feed ingredients over the forecast period.
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Competitive Landscape
The animal feed protein ingredients industry is competitive with major players such as Dupont, DSM, Burcon Nutrascience Corporation, Mosaic Co., Alltech, Hamlet Proteins, CropEnergies AG, Imcopa Food Ingredients B.V, CHS, BRF, Catalysta, Titan Biotech, GRF Ingredients, Green Labs LLC., Sojaprotein, Evershining Ingredients Company, Sojaprotein, CJ Cheiljedang Corporation, Grain Millers, and Cargill among others.
Key Segments Covered
Product Type:
- Compound feed
- Fodder
- Forage
- Oilseed meals
- Animal-by-product meals
Source:
- Animal-based Protein
- Plant-based Protein
Application:
- Poultry
- Ruminants
- Swine
- Aquatic Animals
- Other Animals (Pet Animals, Birds, and Reptiles)
- Research and biotech
- Biocatalysts
Key Regions Covered:
- North America
- The United States
- Canada
- Latin America
- Brazil
- Mexico
- Rest of Latin America
- Europe
- Germany
- The United Kingdom
- France
- Spain
- Russia
- Rest of Europe
- Japan
- Asia Pacific Excluding Japan
- China
- India
- Malaysia
- Singapore
- Australia
- Rest of Asia Pacific Excluding Japan (APEJ)
- Middle East and Africa
- GCC Countries
- Israel
- South Africa
- The Middle East and Africa (MEA)
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