Animal Feed Market | Boom $96.5 Bn 2025 | CAGR 4.75%
Added: (Mon Jan 07 2019)
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A report on global animal feed market based on application, industries and future investments
Global Animal Feed Market 2018 to Boom $96.5 Billion Value by 2025 at a CAGR of 4.75% – Precision Business Insights.
Changing aspects of animal feed market
The global animal feed market is growing due to following factors such as-
• High concern related to outbreak of animal diseases
• Growing demand of domestic and international quick-service restaurants in emerging countries
• Rise in consumption of meat, dairy and poultry products due to inclination towards high protein diet have highly influenced the global animal feed market growth.
However, lack of awareness and cost of products hinder the global animal feed market growth.
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The feed industry is the largest purchaser of soybean and corn meal. According to AFIA (American Feed Industry Association), an average of $20billion is spent on feed ingredients annually. The feed production is booming due to its extensive use in poultry, cattle, and swine and to other animals. The animal feed market is growing due to increase in awareness and key strategies adopted by the market players such as mergers, collaborations, partnerships and acquisitions, etc. there are investments and expansions happening in order to enhance the product portfolio.
Due to rapid urbanization and strong economic viewpoint, China is a major meat exporter and producer. High consumption of meat, milk and eggs which are high in protein is the accelerating the market revenue share.
U.S. animal feed market is growing at a significant rate due to rising consumption of organic meat over processed meat.
Emerging economies market is expected to a huge traction due to rise in per capita income along with a high population such as in India.
Some of the key market players in the global animal feed market are-
• Evonik Industries AG (Germany),
• Novozymes (Denmark)
• DSM (Netherlands)
• Dupont (Danisco) (U.S)
• BASF SE (Germany)
• Archer Daniels Midlands (U.S)
• Charoen Pokphand (Thailand)
• Alltech Incorporated (U.S)
• Invivo NSA (France)
• Cargill Incorporated (U.S)
Notable market development:
Boehringer Ingelheim Animal Health and Novozymes made a strategic collaboration in 2017, for the development and commercialization of probiotics for poultry production.
The global Animal Feed Market is divided into following categories-
By type of animal
By type of feed
• Medicated feed
• Non-medicated feed
By geographical regions
• North America
• Latin America
• The Middle East & Africa
For More Information: https://www.precisionbusinessinsights.com/market-reports/global-animal-feed-market/