Compound Feed Market Overview:
Compound feed is a mixture of raw materials and supplements, sourced from either plants or animals, fed to the livestock orally. Most commonly used raw materials are soybean, corn, barley; wheat and sorghum. Most common additives to form compound feed are, minerals, amino acids, antibiotics and colorants. Compound feed has become an essential part of the globally increasing livestock industry and meat production industry. The end consumers of the compound feed are poultry, pig, ruminants, fish etc.
The growth of the Global Compound feed market is majorly driven by factors such as the growth in global meat consumption, increase in awareness towards meat quality and safety, increase in mass production of meat, and recent livestock disease outbreaks. Globally increasing population is also supporting growth of the world meat market, ultimately increasing demand for compound feed. Increase in consumer awareness regarding benefits of organic food and meat led to increase in consumption which in turn led to increase in demand for organic feed. Different regulatory structures, volatile economies, and increasing cost of operations are the major restraining factors for the market. And, an increase in the cost of raw materials is also a key challenge for the companies in the market.
Global Compound Feed Market Forecast Report (2018-2023)
Global Compound Feed Market was worth $520.61 billion in 2018 and estimated to be growing at a CAGR of 1.60%, to reach $563.61 billion by 2023.
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Compound Feed Market Segmentation
The Global Compound feed market is segmented based on Ingredients, Supplements and Animal type. The market for Compound feed, on the basis of Ingredients, is classified into Cereals, Cereals by-Product, Oilseed Meal, Oil, Molasses, Supplements and others. On the basis of Supplements, the global Compound feed market is segmented into Vitamins, Antibiotics, Antioxidants, Amino Acids, Feed Enzymes, Feed Acidifiers and others. On the basis of Animal category, the global Compound feed market is segmented into Ruminant, Swine, Poultry, Aquaculture and others. Poultry, pork, and cattle are the largest consumers of compound feed globally accounting for the major share of the overall compound feed market. Cereals are the most widely used ingredients in compound feed whereas Vitamins are the most widely used additives, accounting for around 25% of the total feed additives market.
The market has also been geographically segmented into North America, Europe, Asia-Pacific and the Rest of the World. The poultry segment is developing as a leading livestock segment for consumption, trailed by swine and cattle, because of the increase in demand for poultry meat, consumer taste predilections, and rise in disposable incomes in developing economies, primarily in China and India. Hence there is a growing need for steady and reliable animal feed. The Asia-Pacific Compound feed market is expected to offer lucrative growth opportunities, owing to the considerable increase in feed production and increasing awareness among the consumers about the quality of meat, and dairy and related products.
The major companies dominating this market for its products and services are
- Cargill Inc.,
- Charoen Pokphand Foods,
- Archer Daniels Midland Company,
- Land o’ lakes, Inc.,
- ALLTECH, INC,
- New Hope Group Co. Ltd,
- Wen’s Group,
- For Farmers B.V.,
- Agribusiness Holding Miratorg,
- Kyodo Shiryo Company,
- Sodrugestvo Group S.A.,
- DeKalb Feeds, Inc.,
- De Heus B.V,
- Ballance Agri-Nutrients Ltd.,
- J.D. Heiskell & CO,
- Kent Feeds,
- Weston Milling Animal Nutrition,
- EWOS GROUP.
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