10th February 2020 – Global Feed Ingredients Market is estimated to grow considerably in the coming years owing to high demand for feed due to high efficiency of feed production segment. Feed ingredients are the part of any mixture or combination added to the feed. They may include milling by-products, grains, minerals, added vitamins, oils/fats, and other energy sources and nutrition. Feed ingredients are made from animal and plant by-products are only consumed by the animals.
Reasons for the growth of feed ingredients market include increasing awareness for the protein consumption by animals, rise in the production of industrial livestock, implementation of sustainable farming methods, and growing awareness for the benefits offered by feed ingredients. However, feed ingredients market is hampered by strict regulations by (EFSA) European Food Safety Authority and (FDA) Food and Drug Administration, due to the risk of adverse effects on human health and on the environment.
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Growth in health conscious population, increasing spending power of consumers, and speedy urbanization in emerging economies is an opportunity for the manufacturers to enlarge their customer base.
Feed ingredients market is categorized on the basis of product type, livestock, and geography. Based on product type, market is divided into soy meal, oil seed, copra palm meal, rapeseed/canola meal, cotton seed meal, sunflower meal, fish meal, other oil seed meal, and animal by product. Animal by product can be further divided into poultry meal, meat & bone meals, feather meal, and meat meal. Sunflower meal segment is predicted to grow significantly in the coming years, since it is a high protein meal and is an ideal substitute for fish meal.
By livestock, market is divided into swine, aquaculture, poultry, cattle, equine, pet food, and others. Aquaculture segment is expected to hold larger share of the market due to increase in demand for sea food on the global scale and growing awareness for the benefits offered by fish foods.
Leading Players Analysis Covered in these report
• Archer Daniels Midland Company
• J.R. Simplot Company
• Mosaic Company
• Grain Millers
• AB Vista
• BASF SE
• Evonik Industries
• Novus International
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Geographically, market is segmented as North America, Latin America, Europe, Asia Pacific, and Middle East & Africa. North America accounted for the largest share of the market due to increased production of soy bean and growing investment in technological advancements for soy meal extraction. This is majorly contributing to the growth of the market in the region. Further, Asia Pacific and Europe also lead the market in the near future.