Rising Popularity of Organic Feed
Organic feed refers to a type of feed which is produced using the methods that have been outlined as per the standards of organic farming. Simply put, organic means that the ingredients in the feed cannot be genetically modified, cannot be fertilized with chemical fertilizers or treated with fungicides, pesticides and insecticides.
Thus, owing to these reasons, there has been a sharp rise in the popularity of organic feed, which has given way to growing trend of vertical integration (contract farming), leaving a major impact on the compound feed market growth at a global level. Moreover, growing expenditure for advertising organic feed product is expected to assist the industries in creating opportunities, thereby expanding the market share for Compound Feed Market.
Market Research Future (MRFR), after careful analysis, predicts that the Global Compound Feed Market is on its way to reach the valuation of USD 539.9 billion by 2023. Also, it will be clocking in a CAGR of 4.02% during the forecast period (2018-2023).
The Top Vendors in the Global Compound Feed Market are-
- United Animal Health Inc. (U.S.)
- Land ‘O Lakes Inc. (U.S.)
- Nutreco NV (The Netherlands)
- Weston Milling Animal Nutrition (Australia)
- COFCO (China)
- Neovia Group (France)
- Feedone Co., Ltd. (Japan)
- Cargill Inc. (U.S.)
- New Hope Group (China)
- Charoen Pokphand Foods PCL (Thailand)
- ForFarmers NV (The Netherlands)
- Archer Daniels Midland (ADM) Company (U.S.)
- PT Japfa Comfeed Indonesia Tk (Indonesia)
March 2019 – Paris-based Ÿnsect, an agtech startup, has developed a type of protein by breeding various insects, followed by their transformation into premium protein for pet food, organic plant fertilizers as well as fish feed. The company will be building the world’s largest insect farm in Amiens Metropole, Northern France, in addition to the expansion in international markets, targeting the North American market in particular.
Get Free Sample Copy Now@ https://www.marketresearchfuture.com/sample_request/5384
The market for compound feed is segmented on the Basis of Ingredient, Supplement, and Livestock.
Based on the Ingredient
- considered for cereals
- cereal by-products
- oilseed meal
Among these, cereals accounted for roughly 37.44% market share in 2017, with it expected to register a CAGR of 3.48% and also reach the valuation of USD 195.9 million by 2023. The primary reason behind the strong growth of the segment can be the abundance of raw materials like corn and sorghum that are required for producing cereals. Furthermore, oilseed meals accounted for almost 28.32% of the market share in 2017, with the expected growth at a CAGR of 4.45% and attaining the valuation of USD 156.7 million by 2023. Various studies being conducted that promote the use of oilseed meals on account of the presence of glucosinolate will help the segment grow at a rapid pace. As oilseed meals have been found to eliminate cancer cells, the demand will most likely surge among farmers in the coming years. In addition, in 2017, supplements held approximately 13.28% share, and will depict the highest CAGR of 4.71%, whilst reaching the valuation of close to USD 74.6 million by 2023. The strong growth trajectory is the outcome of the steady inclusion of compound feeds in livestock diet that improve their overall well-being.
Based on the Supplement
- Amino acids
Out of these, amino acids accounted for close to 23.91% of the total share in 2017, trailed by antioxidants (16.83%), and acidifiers (11.83%). Amino acids will be exhibiting a growth rate of 5.31%, garnering close to USD 18.5 billion by 2023. Growing preference for protein-based foods is leading to the striking growth of the segment. However, enzymes will showcase the second-highest CAGR of 5%, accruing close USD 8.4 billion by the end of the forecast period. Growing awareness about the benefits of enzymes such as ease in digestion as well as well-being of animals will help in facilitating the growth of the segment in the near future. whereas, antioxidants have the potential of depicting a CAGR of 4.25%, set to reach the valuation of USD 12.2 billion by 2023.
Based on the Livestock
Out of all these, poultry governed a substantial share of 39.01% in 2017, with swine just behind holding 24.17% of the total share. Also, poultry will exhibit a CAGR of 4.15% during the review period, with the predictions of it garnering almost USD 212.2 billion by 2023. But it is the segment of aquaculture that will be surging at the highest CAGR of 4.38% and will be estimated at USD 65.7 billion by 2023.
The regional analysis of the global compound feed market has been done in South America, Europe, North America, Asia Pacific (APAC), as well as the Rest-of-the-World (RoW).
Growth Drivers and Key Restraints
The Global Compound Feed Market will be observing a brisk growth pattern in the coming years, on account of the increase in animal-based food product consumption across the globe. The evolving customer dietary habits with regard to meat and dairy products quality is set to contribute massively to the compound feed market growth from 2018 to 2023.
Moreover, there are numerous advantages associated with compound feed, including high meat product quality, cost-effective nutrition enhancement as well as food nutritional quality. Plus, it helps improve the feed quality which benefits animal’s health substantially.
Browse The Full Research Report At@ https://www.marketresearchfuture.com/reports/compound-feed-market-5384
Apart from this, the surging animal-based food consumption around the world in the recent past is expected to augment the demand for the industry. Not just this but the ever-rising demand for dairy products will also result in the tremendous industry growth in the years to come. With the growing meat consumption observed around the world, the compound feed industry will note massive demand for better quality meat. Also, the livestock diseases outbreak in the past couple of years will prompt various meat and dairy product vendors to make use of the product as well as additives for livestock quality along with health assurance. However, the fluctuating prices of raw materials like barley and wheat could leave a negative impact on the growth of the market. On the plus side, rapid industrialization coupled with enhanced processed meat equipment, there will be a striking surge in the meat production. This factor will most likely shape the positive outlook for the compound feed market in the near future.
About Market Research Future:
At Market Research Future (MRFR), we enable our customers to unravel the complexity of various industries through our Cooked Research Report (CRR), Half-Cooked Research Reports (HCRR), Raw Research Reports (3R), Continuous-Feed Research (CFR), and Market Research & Consulting Services.
MRFR team have supreme objective to provide the optimum quality market research and intelligence services to our clients. Our market research studies by Components, Application, Logistics and market players for global, regional, and country level market segments, enable our clients to see more, know more, and do more, which help to answer all their most important questions.
In order to stay updated with technology and work process of the industry, MRFR often plans & conducts meet with the industry experts and industrial visits for its research analyst members.
Company Name: Market Research Future
Contact Person: Abhishek Sawant
Email: Send Email
Phone: +1 646 845 9312
Address:Market Research Future Office No. 528, Amanora Chambers Magarpatta Road, Hadapsar