New York
City, 22 January 2019: The Global Animal Feed Market is
anticipated to reach USD 337.79 billion by 2026 according to a new study
published by Polaris Market Research.
Increasing demand for meat and meat
& milk products worldwide has created the need to high quality feed for
enhancing meat quality and production. Different species of animals are reared
across several nations across the globe for a variety of purposes such as milk,
meat, protein etc. Feed products are the major component of animal rearing
owing to the fact that it adds to a significant part of the overall cost to the
entire production system but increases productivity along eventually increasing
profit percentage. The types of feed produced and utilized vary across
different regions and these depend largely on animal population and their
economic importance in the particular region. Requirement of these products to
the animals also depend and vary with the motive of rearing them, including for
egg, meat, and milk production. The industry contributes significantly to the
nutritional and economic wellbeing of the people globally. The fact that the
motive of rearing animals is getting more commercialized with time, requirement
of commercially produced feed has increased tremendously over the past decade
and will further add to its demand during the next decade.
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The future of animal feed industry will
develop based on the rapidly growing population globally, varying social
economic environment with a highly involved consumer base and constant pursuit
of higher efficiency. The rise in global population and GDP growth depicts the
demand for meat protein and cereal grain will carry on increasing in the
future. In the present industry scenario, cost of these products refers to a
need for the market participants to reconsider and enhance product efficiency.
Several advancements in processing of raw materials have resulted in innovation
of new feed stocks that have changed the complete approach to formulation of
these products. This has no longer been a concern for monogastric animals.
Inexpensive options of feed traditionally that have been given to animals are
limited, and hence the commercial products are carefully formulated feed stuffs
that are aimed for increasing efficiency in ruminants and monogastrics.
Competitive Landscape and Key Vendors:
In Asia Pacific region, consumption of
animal derived products has been increasing steadily, thus creating a higher
demand for high quality commercially produced feed. The rise in quality of life
has increased the demand for animal proteins. Rapid increase in demand for food
products produced from animals, along with changes in international trade
patterns, has led to expansion of the Chinese food industry, which eventually
has influenced the feed manufacturing sector. Production of livestock has grown
faster compared to the other agricultural sub-sectors in the region during the
decade, mainly owing to significant growth of poultry and pig farming
industries.
Some of the leading industry
participants currently operating in the industry include DaChan Food (Asia)
Ltd., Smithfield Foods, Yuetai Group, NongHyup Feed Inc., Nutreco, De Heus,
Tangrenshen Group (TRS), Haid Group, Shuangbaotai Group (Twins Group), Agrifirm
Group, JA Zen-Noh, East Hope Group, ForFarmers N.V., Tyson Foods (broiler),
BRF, Wen’s Food Group, Purina Animal Nutrition, New Hope Liuhe, Cargill, CP Group.
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