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Description
Feed Ingredients Market size is expected to be valued at USD 39.2 billion in 2021 and is expected to grow at a CAGR of 5.7% during the forecast period 2022 to 2028. The global market provides a detailed overview of the global feed ingredients market, and that can be segmented by animal type and by product type. By animal type, the global feed ingredients market has been segmented into Swine, Poultry, Ovine, Bovine, Equine, Canine, and Aquaculture. The poultry segment is likely to be the largest and fastest-growing segment in terms of animal type in 2021 and is expected to maintain the growth in the upcoming years according to precession business insights. It is attributed to the high demand for poultry meat especially chicken in the U.S, Mexico, China, and other South East Asian countries. The swine segment is also growing at a significant CAGR due to the increasing production of pigs. Based on product type, the global feed ingredients market is segmented into Cereal Grains, Protein Meals, Soy Meals, Whey Products, and Others. Among these, the Cereals segment is expected to have the fastest-growing market during the forecast period 2022-2028. Feed cereals have high demand than other ingredients due to their wide availability and strong nutritional profile. Corn, wheat, and rice are the major sources of feed cereals in the developed and developing regions. There are other feed cereals such as oats, sorghum, millet, and barley. Feed ingredients is a blend of variety of feed ingredients. Regularly utilized fixings in compound dairy products cattle feed incorporate grains, wheat, protein dinners/cakes, agro-industrial by products, minerals and vitamins. Development and improvements of new technologies in formulations of finished products based on the feed type and change in regulatory scenario are boosting growth of the industry.
Key Development:
In Mar 2022, EW Nutrition acquired FAMI-QS accreditation for their management system in Australia.
