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Animal Feed Market size is expected to reach USD 972.56 billion by 2032 CAGR:5.28%.

Dec 13, 2023 4:02 PM ET

Animal Feed Market size is expected to reach USD 972.56 billion by 2032 CAGR:5.28%.

The global animal feed market is projected to reach USD 972.56 billion by 2031, at a CAGR of 5.28%, from USD 642.67 billion in 2022. The animal feed market is expected to continue to grow in the coming years due to the rising demand for animal-derived products and growing livestock production.

Global market for animal feed is essential to maintaining animals and promoting food production across the globe. This market includes a broad range of goods made to satisfy the dietary requirements of different animals, such as aquaculture, swine, cattle, and poultry. Because of factors including population growth, expanding meat consumption, and increased focus on animal productivity and health, there has been a significant increase in the need for high-quality and nutritious animal feed over time. A wide variety of feed types, such as premixes, feed additives, and compound feed, that are designed to supply vital nutrients, vitamins, minerals, and growth-promoting chemicals, define the market. Further propelling market expansion have been technological developments in feed production, such as sustainable component sourcing and precision nutrition. In addition, a major factor in market expansion has been the emphasis on research and development aimed at improving animal welfare, feed efficiency, and sustainability. The global animal feed market is still dynamic and primed for growth and innovation due to the ongoing evolution of farming practices and the increasing understanding of the connection between nutrition and animal health.

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In October 2023, De Heus India, a global animal feed company based in the Netherlands, is investing ₹142 (~USD 17 million) crores to establish a plant in Rajpura, Punjab. The facility aims to manufacture high-quality animal feed and impart optimal farming practices to local farmers, thereby enhancing their income. Operated by De Heus India, the plant will generate a comprehensive range of livestock products, including compound feed, concentrates, base mix, and dairy mineral mixes.

Segment Analysis and Market Dynamics

Based on ingredient, the global animal feed market is divided into feed, cereals, meals and cakes. The feed category dominates the market with the largest revenue share.  This term generally refers to the entire mixture or formulation given to animals to meet their nutritional requirements. It’s a combination of various ingredients, including cereals, meals, protein sources, vitamins, minerals, and additives. Feed can be categorized into compound feed (ready-to-use complete feed) or complementary feed (supplementary to the primary diet). Cereals, such as maize (corn), wheat, barley, and rice, serve as staple components in animal feed. They provide carbohydrates, energy, and some essential nutrients. These grains are often used as a base ingredient due to their availability, digestibility, and energy content. Different grains might be chosen based on factors like regional availability, cost-effectiveness, and the specific nutritional needs of the animals.

The solid segment is the largest segment of the animal feed market, based on form. Solid feeds refer to the conventional form of animal feed, typically composed of dry ingredients like grains, meals, pellets, or textured feeds. These feeds are tangible, easily measurable, and often come in various forms such as pellets, cubes, or loose mixes. Solid feeds can include a wide range of ingredients like cereals, protein meals, fiber sources, vitamins, and minerals. They are the most common and widely used form of feed for livestock, offering convenience in handling, storage, and feeding. Liquid feeds, on the other hand, are solutions or suspensions of nutrients and additives in a liquid form.

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These may include molasses-based mixtures, liquid supplements, or emulsions of various nutrients. Liquid feeds are less common than solid feeds but offer certain advantages. They can be easier to mix with other feed components, enhancing palatability and nutrient distribution. Additionally, liquid feeds can provide a more uniform intake of nutrients, especially in situations where animals might have difficulty consuming dry feeds due to health issues or age-related factors. Global economic conditions, customer preferences, technology breakthroughs, regulatory frameworks, and environmental concerns are the driving forces behind market dynamics. The need for animal feed is greatly impacted by changes in consumer demand for meat products, which are influenced by shifting dietary habits and tastes. Variations in the economy, such as changes in income levels and currency values, are also important factors in determining market patterns of affordability and consumption. The feed production sector is undergoing constant change because to technological advancements such genetically modified crops, sustainable practices, and precision feeding methods. Furthermore, strict guidelines and requirements pertaining to food safety, environmental sustainability, and animal welfare motivate the creation of novel feed compositions and production techniques. The market is adaptable to new trends, such as the increased focus on minimizing the environmental impact of livestock production and the growing preference for natural and organic feed additives. The availability and cost of ingredients are impacted by issues including resource scarcity and climate change. The dynamics of the feed market are also impacted by fluctuations in the commodities markets, particularly for essential elements like grains and protein sources. In the end, the interaction of these elements produces a market for animal feed that is dynamic and flexible, encouraging ongoing innovation and adaptation to satisfy changing needs and obstacles in the sector.

Regional Analysis

The animal feed market in Asia Pacific is expected to lead globally. Growing disposable incomes and a growing population in the area have led to a surge in the need for animal protein, which has created a strong market for livestock goods. The demand for premium animal feed is directly impacted by this increase, which is necessary to maintain and improve livestock productivity. Furthermore, the consumption of meat, eggs, and dairy products has increased in many Asia Pacific countries due to rising urbanization and dietary tastes shifting toward diets high in protein. Because of this change, there is a constant need for animal feed to maintain the productivity, health, and growth of cattle. Furthermore, the region has been instrumental in promoting technological developments and innovations in feed production processes through its proactive approach. The animal feed market in Asia Pacific has expanded as a result of the adoption of precision nutrition, the use of substitute protein sources, and the focus on sustainable feed ingredients. In addition, the region’s animal feed market is expected to grow as a result of encouraging government policies, research and development expenditures, and industry stakeholder cooperation. The Asia Pacific area is positioned to lead the global animal feed market in order to fulfill the changing needs of the livestock industry. This is due to a confluence of factors including increased demand for animal protein, technological breakthroughs, proactive industry activities, and favorable governmental support.

The report Animal Feed Market Size, Share & Trends Analysis Report by Animal (Cattle, Pork and Meat), by Form (Solid and Liquid), by Ingredient (Feed, Cereals, Meals and Cakes), and by Region (North America, Europe, APAC, MEA, and CSA), and Segment Forecasts, 2023 – 2031” is available now to Econ Market Research customers and can also be purchased directly from:

Further key findings from the report suggest:

  • The global animal feed market is predicted to register a compound annual growth rate (CAGR) of 5.28% over the projected period of 2023-2031.
  • Asia Pacific will be the leading region of the global animal feed market during the forecast period of 2023-2031.
  • The major key players in the global animal feed market are: Cargill, Incorporated. ADM, Charoen Pokphand Foods PCL., BASF SE, De Heus Animal Nutrition, JAPFA LTD, Yara, Evonik Industries AG, DSM, Phibro Animal Health Corporation., NOVUS INTERNATIONAL, INC., Purina Animal Nutrition LLC, Kemin Industries, Inc., Weston Stockfeed New Zealand, Kent Nutrition Group., Biochem Zusatzstoffe Handels- und Produktionsgesellschaft mbH, Perstorp.

Econ Market Research has segmented the global animal feed market based on animal, form, ingredient, and region:

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Animal Feed Market by Animal (Revenue, USD Billion, 2023-2031)

  • Cattle
  • Pork
  • Meat

Animal Feed Market by Form (Revenue, USD Billion, 2023-2031)

  • Solid
  • Liquid

Animal Feed Market by Ingredient (Revenue, USD Billion, 2023-2031)

  • Feed
  • Cereals
  • Meals
  • Cakes

Animal Feed Market Regional Analysis (Revenue, USD Billion, 2023-2031)

  • North America
    • U.S.
    • Canada
    • Mexico
  • Europe
    • Germany
    • U.K.
    • France
    • Italy
    • Spain
    • Rest of Europe
  • Asia Pacific
    • China
    • India
    • Japan
    • South Korea
    • Australia
    • Rest of Asia Pacific
  • Middle East & Africa
    • Saudi Arabia
    • UAE
    • South Africa
    • Rest of MEA
  • Latin America
    • Brazil
    • Argentina
    • Rest of Latin America 

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