Compound Feed: The Game changer in Agriculture Sector
Global Compound Feed Market report provides a detailed account of the Market Trends via Customized Research presented as Strategic Analyses, Company Profiles, Competitive Landscape etc. According to the report the Global Compound Feed is estimated to be $496.4 USD billion and predicted to rise to $537.4 USD billion with a CAGR of 1.60%. The market is segmented by Ingredients (Cereals, Cereals by-Product, Oilseed Meal, Oil, Molasses, Supplements and others), by Supplements (Vitamins, Antibiotics, Antioxidants, Amino Acids, Feed Enzymes, Feed Acidifiers and others) and Animal type (Ruminant, Swine, Poultry, Aquaculture and others). Further the market is also geographically segmented into North America, Europe, Asia-Pacific, Latin America and Middle-East and Africa.
The growth of the Global Compound feed market is majorly driven by factors such as the growth in global meat consumption, increase in awareness towards meat quality and safety, increase in mass production of meat, and recent livestock disease outbreaks. Globally increasing population is also supporting growth of the world meat market, ultimately increasing demand for compound feed. Increase in consumer awareness regarding benefits of organic food and meat led to increase in consumption which in turn led to increase in demand for organic feed. Although this market has quite a few substantial drivers, it is still restrained by a few factors, such as different regulatory structures, volatile economies, and increasing cost of operations. In addition to these, the competition for raw materials with other industries and the price volatility also restrain the growth of this market.
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Cereals are the most widely used ingredients in compound feed whereas Vitamins are the most widely used additives, accounting for around 25% of the total feed additives market. Poultry, pork, and cattle are the largest consumers of compound feed globally accounting for the major share of the overall compound feed market because of the increase in demand for poultry meat, consumer taste predilections, and rise in disposable incomes in developing economies, primarily in China and India.
Asia-Pacific region accounts for the major share of the Global Compound feed market. This region is expected to offer lucrative growth opportunities, owing to the considerable increase in feed production and increasing awareness among the consumers about the quality of meat, and dairy and related products. This market is also expected to grow at the highest CAGR in the forecast period.
The major companies operating in the global Compound feed market are Cargill Inc., Charoen Pokphand Foods, Archer Daniels Midland Company, Land o’ lakes, Inc., Nutreco, ALLTECH, INC, New Hope Group Co. Ltd, Wen’s Group, ForFarmers B.V., Agribusiness Holding Miratorg, Kyodo Shiryo Company, Sodrugestvo Group S.A., DeKalb Feeds, Inc., De Heus B.V, Ballance Agri-Nutrients Ltd., J.D. Heiskell & CO, Kent Feeds, Weston Milling Animal Nutrition, EWOS GROUP.
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