The Animal Feed Ingredients Market was estimated around USD 170 billion in 2019 and predicted to grow at CAGR of 5.8% over the forecast period (2020-2027).
The factors driving the growth of Animal Feed Ingredients Market includes growing focus on providing adequate nutritional values to livestock, increasing population of livestock around the world and rising awareness about the benefits of oilseeds and soybean derived animal feed products. Moreover, financial assistance provided by Governments to farmers in the form of subsidies and price support, growing consumption of meat and meat related products and rising consumers preference for protein rich food items, are some of the additional factors supplementing the market growth. In addition, the increasing investments by leading players on research and development, strategic mergers and partnerships between key companies, rapid urbanization, and growing population growth rates, are further contributing towards the market growth.
However, growth of the Animal Feed Ingredients Market is hindered due to variations in the prices of raw materials.
The leading players operating in the market are Ingredion Incorporated, Phibro Animal Health Corporation, Darling Ingredients, Cargill, Incorporated, Archer Daniels Midland Company, Bunge Limited, BASF SE, Addcon Group, Aliphos Belgium S.A., Kemin Industries Inc., Beidahuang Group, Evonik Industries AG and Nutreco N.V., among others.
Based on Source. The Oilseeds segment is predicted to grow at a significant CAGR over the forecast period
Oil seeds enhances health and productivity of animals and is increasingly used in cattle, swine, and chicken feeds, are some of the factors responsible for the segment’s growth.
Based on Livestock, the Poultry segment is projected to expand at a remarkable CAGR during the forecast period
Rising awareness about the health benefits of poultry-based products and growing demand for protein rich food items, are propelling Animal Feed Ingredients Market size.
Based on Region, the Asia-Pacific region is anticipated to hold the highest market share during the forecast period
Growing demand for protein rich food items, rise in the launch of innovative food products, rapid urbanization, increasing per capita incomes and high population growth rates, are some of the important factors augmenting the market growth in Asia-Pacific region.
- In 2019, Archer Daniels Midland Company acquired Neovia, which will expand Archer Daniels Midland’s business in animal nutrition industry.
- In 2019, BASF SE launched new phytase Natuphos E for the feed industry in Indonesia, which reduces phosphorus emissions from livestock.
- In 2018, BASF SE introduced its Lucantin NXT product line for animal nutrition to deliver longer shelf-life, homogeneity, and outstanding stability.
Segmentation by Source
Segmentation by Livestock
Segmentation by Region
- Asia Pacific
- Rest of APAC
- North America
- United States of America
- United Kingdom
- Rest of Europe
- South Africa
- Saudi Arabia
About GMI Research
GMI Research is a market research and consulting firm which provides market insights and intelligence across 12 major sectors helping our clients in making effective investment and business decisions.
Company Name: GMI RESEARCH
Contact Person: Sarah Nash
Phone: Europe – +353 1 442 8820; US – +1 860 881 2270
Address: Dublin, Ireland