According to Future Market Insights (FMI), the global animal feed industry is set to be valued at USD 530.0 billion in 2023. It is anticipated to reach USD 929.0 billion by 2033. Over the next ten years, global animal feed demand is likely to increase at a CAGR of 7.3%.
The growing global population has intensified the demand for animal protein, leading to increased production of livestock and poultry. As more people join the middle class and adopt meat and dairy-rich diets, the need for animal feed has surged to keep pace with this heightened demand.
The increasing demand for animal feed is driven in part by economic growth in emerging markets. In countries like China, India, and Brazil, rising industrialization and urbanization are leading populations to seek more diverse diets. Consequently, the growing preference for meat has heightened the need for animal feed.
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The expansion of aquaculture has significantly boosted the demand for animal feed. As the global appetite for seafood grows, fish farming has become increasingly popular to meet this rising demand.
For fish to grow optimally, their feed must be rich in nutrients. As aquaculture advances, there is a growing need for specialized feeds tailored to different species.
Advancements in animal nutrition research have highlighted the benefits of custom diets for livestock and poultry. Farmers and producers are increasingly recognizing the importance of providing balanced, high-quality feed to enhance animal health, growth rates, and product quality. This awareness has driven a trend towards more sophisticated feed formulations, leading to a rising demand for specialty feed products.
Global demand for animal feed is on the rise, in part due to the ongoing expansion of the pet food sector. Demand for premium pet food has soared as more people acquire pets and cherish them as beloved family members.
Key Takeaways from this Market Report:
- The global animal feed industry elevated at a CAGR of 6.1% from 2018 to 2022.
- The United States animal feed industry is projected to witness a considerable CAGR of 6.3% in the next ten years.
- China animal feed industry is anticipated to reach a valuation of US$ 101.6 billion by 2033.
- The United Kingdom animal feed industry is likely to register a CAGR of 5.4% from 2023 to 2033.
- By source, the plant-based segment is projected to hold the most prominent animal feed market share in 2033.
Who is winning?
Leading companies are placing a strong emphasis on quality assurance in the global animal feed industry. They are doing this by putting strict testing and quality control procedures into place at every stage of the manufacturing process.
They are further gaining certificates such as good manufacturing practices (GMP) or quality certifications for the production of organic or non-GMO feed. The credibility and confidence of customers can be increased with this tactic.
Brands might additionally distinguish their animal feed products by providing distinctive formulas, specialist ingredients, or particular advantages catered to certain animal species. They can differentiate themselves in the market and satisfy particular needs thanks to this tactic.
In order to address the rising demand for ecologically friendly products, numerous animal feed companies might implement sustainable and eco-friendly procedures. They can use less waste, water, and energy while obtaining materials from sustainable agriculture.
For instance,
- Evonik declared its intention to release an improved version of Biolys in May 2023. It would be a reliable source of lysine for animal feed. Clients will be able to more efficiently meet the essential amino acid L-lysine needs of their animals.
Key Companies Profiled are:
- DSM N.V
- BASF SE
- Parry Nutraceutical
- Fuji Chemical Industries Co
- Divi’s Laboratories
- Piveg, Inc
- Fenchem Biotek Ltd.
- Alga technologies
- Cyanotech Corporation
- Zhejiang NHU Co., Ltd.
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Market Outlook by Categorization:
By Species:
- Poultry (Commercial)
- Backyard Poultry
- Ruminants (Cattle, Sheep, Goats)
- Swine
- Equine
By Form:
- Wet/Moist Food
- Dry Kibble
- Semi-moist Food
- Frozen
- Freeze-dried Food
By Source:
- Plant-based
- Animal-based
- Micro-organisms
By Sales Channel:
- Direct Sales
- Indirect Sales
- Modern Trade
- Animal Feed Stores
- Veterinary Clinics
- Online Retailers
By Region:
- North America
- Latin America
- Europe
- East Asia
- South Asia
- Oceania
- Middle East & Africa
About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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