According to Precision Business Insights, the Feed Ingredients Market research report provides industry size and growth.
According to Precision Business Insights (PBI), the latest report the global feed ingredients market is expected to be worth USD 39.2 billion in 2022 and projected to grow at 5.7% CAGR from 2023 to 2029. A feed ingredient is a segment part or constituent or any mix/blend added to and including the animal feed. Feed ingredients may incorporate grains, processing side-effects, included vitamins, minerals, fats/oils, and other wholesome and vitality sources.
Feed Ingredients Market Dynamics:
Increase in the humanization and adoption of the pets, rise in care and concern of the animals health is the major factor for the rise in demand for the healthy and safe feeds for the animals in turn driving the animal feed ingredients market, shifting towards the protein lean animal diet, rise in the consumption of the meat, poultry and dairy products around the world is also stipulating the growth of the feed ingredients market. On the other side, rise in the cost of the feeds and the supplements used to combine with them and lack of awareness in some regions of the world about the animal health are hindering the growth of the feed ingredients market.
Feed Ingredients Market is classified on the basis of type of animal, product, and geographical regions.
Based on the type of animal, feed ingredients market is segmented into:
Based on Product, feed ingredients market is segmented into
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Feed Ingredients Market Summary:
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 animal feed market. Many companies are targeting the Asia-pacific region for expansion of the market, by investing in the new production units or acquisition of small players in the region who were established. R&D investments, introduction of new products, are the different strategies adopted by the manufacturers to be in the competition in the feed ingredients market. Adisseo presented another novel enzyme - Rovabio® Advance, with a mix of catalysts, amino acids, phosphorus, and calcium. In Brazil, Cargill grew new fixing Ultra Oils, by consolidating normal properties of vegetable oils with their selective innovation. Bunge started the creation of non-GMO corn fixings on an extensive scale, getting to be one of the key worldwide providers. Novus propelled another item - SPORULIN®, to enhance poultry nourishment levels. Two new items to be specific Biomin® PRO and Biotronic® Top3 were propelled by Biomin at the World Pork Expo in Des Moines
Feed Ingredients Market Regional Analysis:
Geographically animal feed ingredients market is segmented as Latin America, North America, Asia- Pacific, The Middle East & Africa and Europe. Asia Pacific driven by India, South Korea Japan and China, Developing domesticated animals illness has prompted advancement of feed institutionalization approaches which grants utilization of brilliant feed added substances, weight pick up and protein content alongside high production in animals will support feed ingredients market development. Development in aquaculture industry attributable to ascend in angle utilization will contribute towards feed ingredients industry development in locale. Europe driven by Germany, France Italy and UK feed ingredients market may enlist solid increases more than 4.5%. Developing impact towards sustenance security that guarantees proficient protein and calorie supply has brought about advancement of maintainable arrangements including EU strategy paper to support animal'™s generation which may impact on feed ingredients market. Enhanced manageability and ecological execution by improving cultivating tasks to build profitability ought to move feed ingredients industry development.
Some of the Key Players in feed ingredients market