Animal husbandry has grown rapidly, and the demand for animal products has driven the increase in livestock. Use of liquid feed supplements is convenient and requires less farm labor which in turn reduces costs. Moreover, liquid feed supplements are quick acting and promote good animal health while improving feed quality, increasing yield and reducing the risk of livestock diseases. The global liquid feed market is projected to witness a CAGR of over 4% during the forecast period of 2017 to 2023 according to the latest report published by Market Research Future (MRFR).
Increased meat consumption is a primary driver that has increased the demand for liquid feed supplement. Global growth in population, particularly in developing markets has led to an increased demand for meat and other animal products, thus prompting farmers to use liquid feed supplements. Moreover, most liquid feed supplements are cheaply available and commonly use molasses as a base. Molasses is a sugar by-product which is cheaply available and provides farmers with an easy option for delivery of feed supplements. However, the volatile prices of liquid feed raw materials and stringent government regulations regarding the use of certain ingredients are expected to present the market with challenges. Consequently, market players are investing in research activities for the development of appropriate ingredients without any harmful impact on the environment, the animals or consumers, thus providing the market with scope for growth.
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Major Key Players Analysis:
Leading players profiled in MRFR’s report on the global liquid feed market include Dallas Keith Ltd., GrainCorp, Westway Feed Products, Midwest Liquid Feeds, Agridyne LLC, Land O’Lakes, Cargill Inc., and Archer Daniels Midland. These players implement various market strategies including R&D activities, new product launches, and mergers & acquisitions among others.
Latest Industry News:
ADM Animal Nutrition, a part of Archer Daniels Midland Company, has announced the recall of 200-pound containers of Mintrate 36-15 Breed Right Tub cattle feed due to the products apparent inclusion of elevated levels of non-protein nitrogen which has been found to be harmful to cattle in high doses.
A new Fat Evaluation Index (FEI) grading system in New Zealand is expected to result in the reduced use of palm kernel expeller (PKE). The supplement is popular in the dairy industry due to its low cost. However, it increased the fatty acids in milk. High fatty acids in milk are expected to lead to penalties for farmers who use too much PKE.
Segmental analysis of the market has been included in MRFRs market report on the basis of factors such as ingredients, livestock, and region. By ingredients, the market is segmented to include phosphoric acid, trace minerals, vitamins, urea, fats, and others. The urea segment dominates the market with the largest share as it is a highly effective source of protein, particularly in cattle diets. Meanwhile, the trace minerals segment is growing rapidly and is expected to witness the highest CAGR as it bolsters the regular feed and provides animals with nutrition that may otherwise be missing from their regular diet.
By livestock, the market is segmented into ruminants, poultry, swine, aquaculture, pets, and others. Among these, the ruminants segment dominates the market due to cattle feed being the largest consumer of liquid feed supplements. Moreover, the aquaculture segment carries high potential over the assessment period due to the growing demand for protein-rich lean meat and omega 3 fatty acids in an increasingly health-conscious global environment.
Globally, the market has been surveyed by region has been divided into North America, Europe, Asia-Pacific, and the Rest of the World.
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North America leads the global market with the largest share of the market due to the high demand for meat products and supportive government policies regarding the use and sale of liquid feed supplements. The rising demand for poultry and swine products is expected to raise the demand for liquid feed supplements.
Meanwhile, the Asia-Pacific (APAC) region is expected to grow at the highest CAGR due to the presence of China, which is a key contributor to the growth of the market. The presence of a massive consumer population in the region which is ever-expanding combined with increased disposable incomes in emerging markets of the region has resulted in the increased demand for meat and animal products, thus increasing the use of liquid feed supplements.
Market growth is also expected from other regions across the globe including Latin America, and Europe.
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