The research report “Animal feed market by animal type (poultry, swine, canine, equine, ovine, bovine, aquaculture), feed type -medicated feed (antibiotics, probiotics, proteins) non-medicated feed (cereals, fats, oils) and geography – global/region/country forecast to 2027.”
Glance our 200 slides market research and competitive intelligence research report, 25 Tables and 65 Figures and other qualitative sections with an in-depth TOC on “The global animal feed market was worth USD 452.6 billion in 2020 and is expected to grow at a CAGR of 3.2% from 2021 to 2027. Animal feed market by animal type, feed type and geography – global/region/country forecast to 2027”
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The global animal feed market was worth USD 452.6 billion in 2020 and is expected to grow at a CAGR of 3.2% from 2021 to 2027. Animal feed market growth is due to the rise in consumption of dairy foods and animal based products like eggs, milk and meat. During the pandemic, the animal feed industry has less impact compared to other industries due to the changes in the lifestyle of humans towards healthy nutrition led to demand for more quality based animal based products. An increase in the number of livestock diseases led to changes in the nutrition of animals, digital nutrition for animal welfare, and change in farm management like using biosecurity which has a great impact on the animal feed market during the forecast period. The rise in the cost of concentrates that are used in animal feed and challenges in feed processing hampers the growth of the market.
Asia pacific feed market is dominated among all the regions in the global market as China is the major meat exporter and producer. The rise in demand and expenditure in India towards the animal feed industry also led to the growth of the market. North America’s market share is also increasing due to the investment in research and developments and recent acquisitions by market leaders to increase the demand. Technological changes like big data, AI, IOT which are used for monitoring the health of animals, production of feed contribute to the growth of the market.
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Cargill opened a new animal nutrition facility in Ohio to produce non medicated feed with less resource to meet the demand of the market. Evonik in china launched Porphyrio, a big data company for livestock monitoring. Novozymes collaborated with Adisseo to produce probiotics for the development of poultry feed. BASF acquired Cloudfarms to increase production and livestock management. Archer Daniels Midlands in Illinois invested in feed technology center which is a leader in the research of animal nutrition.
Key market players covered in this report are Evonik Industries AG, Novozymes, DSM, Dupont (Danisco), Nutreco, BASF SE, Archer Daniels Midlands, Charoen Pokphand, Alltech Incorporated, Invivo NSA, Cargill Incorporated
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