Global Animal Feed Market was valued at $325 Billion in 2015 and is estimated to grow at a CAGR of over 4.6% from 2016 to 2024.
Population expansion coupled with rising meat consumption are anticipated to drive animal feed market over the forecast period. Animal feed plays a key role in economic production of animal proteins throughout the world.
Increase per capita disposable income along with increasing livestock production are major factors fostering demand. Emergence of frozen meat, meat outlets coupled with changing eating habits has urged proper nutrition for animals as well.
Rising industrialization in the meat production industry is confronted with certain other challenges, raising the risk of potentially devastating regional and global disease outbreaks. For example, in 2009, about 30% of the poultry meat sales plunged in Malaysia due to bird flu leading to 5% GDP loss in the U.S. economy for the same year.
This factor has triggered the usage of appropriate feed for various livestock such as broiler, swine, turkey and beef. Rising lifetime expectation, threatened obtainability of land and water possessions for animal feed manufacturing and growing grain demand for food and ethanol production resuled in need for optimum utilization of resources. Current disease eruptions have caused increased governing involvement, with several local regulatory organizations considering to come together for standardizing meat products.
North America Animal Feed Market, By Type, 2014 – 2024 (USD Million)
Countries including China, India, Brazil and Southeast Asian countries have prolific growth in meat consumption. Food outlets including McDonalds, KFC and Subway have stormed their way into these emerging regions at a brisk pace.
The industry growth is attributed to the higher living standards coupled with shift towards away from homebased eating. Producers are carefully working with the factory farmers in order to attain high yields and maximize profits Cargill Inc. appointed Malaysia based TD poultry for delivering excellent poultry solutions.
“Optimal Price Point (OPP) for Animal Feed Products”
Estimated Average product cost – $ xx globally. However, with fluctuation in livestock production, raw material supply availability, growing solution implementation and increasing SMEs, OPP and range of acceptable Prices (RAP) are going to change. We at Ameri Research continuously track these prices with our proprietary pricing model.
Increasing meat consumption, changing food habits along with increased household income is the key factor for rising livestock production in Asia Pacific. China, India, Thailand, Malaysia and Indonesia have witnessed prolific growth in meat consumption, thereby boosting animal feed demand. Shift in trend towards packaged food & beverage is another factor bolstering industry growth. Major manufacturers are trying to penetrate regional markets through partnering with small scale suppliers and retail stores.
“Prominent industry participants include CP Group, Cargill Inc., and Tyson Foods”
Major player operating in global marketspace include New Hope Liuhe, Purina Animal Nutrition, BRF, Cargill Inc., Wen’s Food Group, Tyson Foods, Smithfeild Foods, Kemin Inudustries, Nutreco, Alltech, Novus International, NongHyup Feed Inc,., Agrifirm Group, ForFarmers (N.V.), Nutreco and CP Group.
Companies are vying to cooperate with control authorities to create efficient nand cost-effective control systems. Manufacturers are expected to initiate self-regulation through the progress of a feed chain that enables animal well-being, food safety & security and sustainability.