Global Animal Feed Market
Global Animal Feed Market: About this market
Technavio’s animal feed market analysis considers sales from poultry, swine, ruminant, aquaculture, and other products. Our study also finds the sales of animal feed in APAC, Europe, North America, South America, and MEA. In 2019, the poultry segment had a significant market share, and this trend is expected to continue over the forecast period. Factors such as increasing consumption of poultry meat will play a significant role in the poultry segment to maintain its market position. Also, our global animal feed market report looks at factors such as the increasing number of product launches, increasing investments in the market, and the increasing number of mergers and acquisitions. However, high price of non-GMO animal feed, development of clean meat products, and growing consumer inclination towards vegan food may hamper the growth of the animal feed industry over the forecast period.
Global Animal Feed Market: Overview
The increasing number of product launches
Animal feed market vendors are leveraging advanced technical innovations to launch advanced and new products. Increasing new product launches by regional and international players may support the growth of the market along with increased revenue flow and market share. For instance, Patanjali Ayurveda Ltd. (Patanjali) announced the launch of cattle feed and feed supplements under the brand Dugdhamrit. The company claims that the new products are urea-free. Such product launches will lead to the expansion of the global animal feed market at a CAGR of almost 4% during the forecast period.
Adoption of new technologies
To produce animal feed market vendors are investing in developing sustainable technologies. The vendors are also investing in new technologies to increase their production capabilities. For instance, ADM opened a new high-tech livestock feed facility in Quincy, Illinois, the US which has facilities like increased warehouse space to serve customers more quickly and efficiently along with dedicated feed line for non-medicated products and automated packaging and process controls. Such development is expected to have a positive impact on the overall market growth.
For the detailed list of factors that will drive the global animal feed market during the forecast period 2020-2024, click here.
With the presence of several major players, the global animal feed market is moderately fragmented. Technavio’s robust vendor analysis is designed to help clients improve their market position, and in line with this, this report provides a detailed analysis of several leading animal feed manufacturers, that include Archer Daniels Midland Co., Cargill Inc. Charoen Pokphand Foods Plc, Evonik Industries AG, ForFarmers NV, Guangdong Haid Group Co. Ltd., Land O'Lakes Inc., New Hope Group Co. Ltd., Nutreco NV, Perdue Farms Inc.
Also, the animal feed market analysis report includes information on upcoming trends and challenges that will influence market growth. This is to help companies strategize and leverage on all forthcoming growth opportunities.
Learn how to effectively navigate the market research process to help guide your organization on the journey to success.Download eBook