The Global Feed Industry has been widely affected by the developments made in the animal feed market. Market focused reports related to the food, beverages and nutrition sector among others recently has been offered by Market Research Future which publishes reports on this market.
The rise in the level of livestock inventory around the globe has led to intensification in demand for animal feeds. The role of animal feeds in the food industry global has been built upon the need for safe, abundant and affordable animal proteins. The surge in the amount of livestock raised for food consumption which consists of cattle, poultry to name a few has contributed in a big way to the expansion of the market size in the past few years. Growing interests of countries to develop their livestock and also meet the global supply of animal proteins will further lead to the development of the market through the forecast period.
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Major Key Players Analysis:
The prospects for development in the market appear to be promising through the forecast period. The market contenders are devising their blueprints for corporate strategy in a way can bring about the best consequence for development in the current scenario, while also concurrently enhancing their product’s value. The constant delivery of customer value has enhanced the market value of the industry. The capability to fuel competitive capabilities is one of the chief causes powering their efforts in this period. The escalating levels of diversification in the industry, have allowed the companies to utilize many opportunities available in the industry. The firms in this market are adapting to the state of events by implementing portfolio upgrades and maintaining financial liquidity. Moreover, the contenders are handling the competitive environment by driving the market growth factors to their advantage.
The noteworthy contenders in the animal feed market comprise of Charoen Pokphand Foods Public Company Limited, Cargill Inc, Archer Daniels Midland Company, Alltech, Inc., Evonik Industries AG, Nutreco N.V., Novozymes A/S, Chr. Hansen Holding A/S, BASF SE, and Adisseo France SAS.
Apr 2018 Minister for Agriculture of Ireland has recently announced the allocation of €1.5m for the start of a Fodder Import Support Measure with instant effect. The decision follows the pressure from farmers and Co-Ops who have started importing animal feed from abroad due to the nationwide scarcity that has created owing to poor weather. The new measure will back importation expenses for 20,000 tonnes of fodder but the amount of money allotted will be kept under continuous review until the animal feed crisis is over. The feed has been imported from Britain and will then be circulated by Dairygold Co-Op to ten locations around Munster.
The global animal feed ingredients market is segmented on the basis of source, function, and application. On basis of source the market is segmented into grains and pulses, vegetables, oilseeds, and others. The function based segmentation of the market comprises of protein, carbohydrate, fat, minerals and others. The application based segmentation of the market consists of of aquatic culture, cattle, swine, and others. Lastly, the region based segmentation of the market comprises of Europe, Asia Pacific, North America and rest of the world.
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While considering the regional analysis of the Animal Feed Market observes that the North American region controls the market for animal feed ingredients market globally with the most significant market share, accounting for the extraordinary development of the market through the forecast period. Moreover, the market is estimated to grow at a swift pace by the year 2027. The European, Asia-Pacific, and RoW are the developing markets for global animal feed market and are expected to achieve high rates of growth in the duration of the forecast period.
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