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Nov 07, 2023
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The global animal feed ingredients market size is expected to reach US$ 314.84 billion by 2030, growing at a CAGR of 2.3% from 2023 to 2030. The growth is being driven by the increasing demand for meat, poultry, and dairy products, as well as the growing awareness of the importance of animal nutrition.
The animal feed ingredients market plays a pivotal role in the global food system, providing the essential nutrients required for livestock production. These ingredients, ranging from grains and oilseeds to vitamins and minerals, are crucial for ensuring the health, growth, and productivity of animals, which in turn supports the growing demand for animal-derived food products.
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The animal feed ingredients market encompasses a wide range of products used to nourish livestock, poultry, and aquatic animals. These ingredients can be broadly categorized into two main groups: macronutrients and micronutrients. Macronutrients include carbohydrates, proteins, and fats, which provide the animal with energy and structural support. Micronutrients, on the other hand, include vitamins, minerals, and trace elements, which are essential for various bodily functions.
Market Dynamics and Key Trends:
The animal feed ingredients market is driven by several key factors, including:
Rising global meat consumption: As populations grow and disposable incomes increase, the demand for meat, poultry, and dairy products is projected to continue expanding. This trend is fueling the need for high-quality animal feed ingredients to support livestock production.
Advances in animal nutrition: Ongoing research and development in animal nutrition are leading to the formulation of more sophisticated and efficient feed ingredients. These advancements aim to improve animal health, optimize growth rates, and enhance feed utilization, ultimately contributing to cost-effective livestock production.
Sustainability concerns: Environmental and sustainability considerations are shaping the animal feed ingredients market. The industry is seeking to reduce its environmental footprint by minimizing waste, optimizing resource utilization, and promoting sustainable agricultural practices.
Key Takeaways:
The global animal feed ingredients market is expected to reach a value of US$ 314.84 billion by 2030, growing at a CAGR of 2.3% from 2023 to 2030.
The growth of the market is being driven by a number of factors, including increasing demand for meat and poultry, rising disposable incomes, and growing awareness of the importance of animal nutrition.
Asia Pacific is expected to be the fastest-growing region in the market, driven by strong demand from China and India.
The key players in the market include Cargill, ADM, COFCO, Bunge, Louis Dreyfus, Wilmar International, China Grain Reserves Corporation, Beidahuang Group, Marubeni Corporation, and ZEN-NOH.
Regional Outlook:
Asia Pacific is expected to be the largest market for animal feed ingredients, accounting for over 40% of the global market in 2030.
Europe is expected to be the second-largest market, followed by North America and Latin America.
The Middle East and Africa (MEA) is expected to be the smallest market, but it is also expected to grow at a CAGR of 2.1% from 2023 to 2030.
Key Players:
Cargill
ADM
COFCO
Bunge
Louis Dreyfus
Wilmar International
China Grain Reserves Corporation
Beidahuang Group
Marubeni Corporation
ZEN-NOH
Segmentation:
The global animal feed ingredients market is segmented by type, application, and region.
Type:
Grains
Milling byproducts
Oilseeds and proteins
Feed additives
Application:
Livestock
Poultry
Aquaculture
Other animals (pet animals, birds, and reptiles)
Region:
Asia Pacific
Europe
North America
Latin America
Middle East and Africa
