Starter Feed Global Market Analysis 2024: Key Growth Drivers and Forecast

Overview and Scope
Starter feed refers to nutrient-dense feed that helps the young animal become accustomed to solid food and boosts its absorption of subsequent feeds. It helps to assist the growth of very young animals and reduce mortality.

Sizing and Forecast
The starter feed market size has grown strongly in recent years. It will grow from $32.83 billion in 2023 to $35.4 billion in 2024 at a compound annual growth rate (CAGR) of 7.8%.  The  growth in the historic period can be attributed to growing focus on animal health and welfare, expansion of commercial poultry farming, globalization of livestock farming, advancements in feed manufacturing, focus on disease prevention, consumer demand for quality animal products.

The starter feed market size is expected to see strong growth in the next few years. It will grow to $46.21 billion in 2028 at a compound annual growth rate (CAGR) of 6.9%.  The growth in the forecast period can be attributed to integration of sustainable practices, growing market for specialty livestock, expansion of aquaculture industry, focus on antibiotic-free animal farming, increasing demand for plant-based proteins. Major trends in the forecast period include collaboration in animal nutrition research, feed efficiency technologies, early nutrition programming, pelletization and crumbling technologies, customization for different species.

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Segmentation & Regional Insights
The starter feed market covered in this report is segmented –

1) By Type: Medicated, Non-Medicated
2) By Form: Pellets, Crumbles, Other Forms
3) By Ingredient: Wheat, Corn, Soybean, Oats, Barley
4) By Nature: Organic, Conventional
5) By Application: Poultry, Ruminants, Swine, Aquatic, Equine, Other Applications

North America was the largest region in the starter feed market in 2023. The regions covered in the starter feed market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa

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Major Driver Impacting Market Growth
The growth of the aquaculture industry is expected to drive the growth of the starter feed market. The aquaculture industry refers to the practice of breeding, raising, and harvesting fish, shellfish, and aquatic plants in controlled aquatic environments for commercial purposes. Starter feed is an important component of aquaculture. It is used to support the growth and development of fish and other aquatic animals. it increases fish’s levels of protein, vitamins, minerals, carbs, and amino acids. So, these factors boost the starter feed market. For instance, in June 2022, according to Reliefweb, a US-based humanitarian information organization, global aquaculture production reached a record 122.6 million metric tons with a total value of USD 281.5 billion in 2020. Furthermore, according to The International Trade Administration, Agency in the United States Department of Commerce that promotes United States exports of non-agricultural U.S. services and goods, the global market of aquaculture in 2020 was $204 billion and by 2026 it is expected to reach $262 billion. Therefore, the growth of the aquaculture industry is expected to propel the growth of the starter feed market.

Key Industry Players
Major companies operating in the starter feed market report are Cargill Incorporated, BASF SE, Evonik Industries AG, Archer Daniels Midland Company, Purina Mills LLC., Charoen Pokphand Group Co. Ltd., Roquette Freres SA, Alltech Inc., ACI Godrej Agrovet Private Limited, Associated British Foods plc, Nutreco N.V, Koninklijke DSM N.V., Devenish Nutrition Ltd., Janaki Group Of Companies, lYork Ag, De Heus Animal Nutrition BV, ForFarmers NV, Land O’Lakes Inc., Hi-Pro Feeds LP, Kent Nutrition Group Inc., Ridley Corporation Limited, Japfa Comfeed Indonesia Tbk PT, Guangdong Haid Group Co. Ltd., Wen’s Food Group Co. Ltd., Twins Group Inc., New Hope Liuhe Co. Ltd., East Hope Group Company Limited, Tyson Foods Inc., The Scoular Company, Nutriad International NV

The starter feed  market report table of contents includes:

1. Executive Summary
2. Starter Feed Market Characteristics
3. Starter Feed Market Trends And Strategies
4. Starter Feed Market – Macro Economic Scenario
5. Global Starter Feed Market Size and Growth
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31. Global Starter Feed Market Competitive Benchmarking
32. Global Starter Feed Market Competitive Dashboard
33. Key Mergers And Acquisitions In The Starter Feed Market
34. Starter Feed Market Future Outlook and Potential Analysis
35. Appendix

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