Animal Feed Industry Forecast to 2027

The global animal feed market was valued at US$ 406,640.10 million in 2018 and is projected to reach US$ 548,936.55 million by 2027; it is expected to grow at a CAGR of 3.3% during the forecast period 2019-2027.Industrialization of animal farming has led to an increase in demand for protein rich animal feed ingredients to increase the feed conversion rate. Industrially raised livestock are chiefly fed on concentrates made from cereal and vegetable protein such as soybean meals to assist them in gaining weight and producing protein rich meat.

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Archer Daniels Midland Co, Cargill Inc., Charoen Pokphand Foods Plc., Evonik Industries AG, For Farmers N.V., Guangdong Haid Group Co. Ltd., Land O'Lakes, Inc., New Hope Group Co. Ltd. Nutreco NV, Perdue Farms, Inc. are among the key market players present in the global animal feed market.

Farm animals depend on proteins and other elements as building blocks essential for growth. Proteins in animal feeds are an excellent source of minerals such as calcium and phosphorus, and essential amino acids such as lysine and methionine. The growing awareness about the health benefits of proteins on animal health has created substantial demand for protein feeds such as animal protein meals, feather meals, fish meals, bone meal, blood meal, and other protein meals and feeds. As livestock and farm animals contribute significantly to the global food supply chain, the demand for protein rich nutritious animal feeds is expected to grow during the forecast period. The constantly burgeoning demand for protein rich animal feeds to promote growth in livestock at all stages of life is anticipated to drive the overall animal feed market.