Compound Feed Market worth $668.3 billion by 2028 - Exclusive Report by MarketsandMarkets™

CHICAGO, June 30, 2023 /PRNewswire/ -- The compound feed market is estimated at USD 541.2 billion in 2023 and is projected to reach USD 668.3 billion by 2028, at a CAGR of 4.3% from 2023 to 2028 according to a report published by MarketsandMarkets™. The world's population is steadily increasing, which leads to higher demand for food, including meat, dairy, and poultry products. Compound feed is an efficient way to provide essential nutrients to livestock and improve their growth and productivity. As standards of living improve in many developing countries, there is an increase in meat consumption. Livestock, such as poultry, pigs, and cattle, require compound feed for their optimal growth and production. This surge in meat consumption has led to a greater demand for compound feed. Compound feed is designed to optimize nutrient utilization and improve feed conversion efficiency in livestock. It allows for precise control of nutrient composition, ensuring that animals receive the necessary nutrients for their growth and development.

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The cereals in by ingredient segment accounted for the largest share of the compound feed market in 2023 in terms of value.

Cereals are rich in carbohydrates and provide energy to animals. They also contain varying levels of protein, fiber, and essential minerals. Due to their nutritional composition, cereals serve as important sources of energy and nutrients in compound feed formulations. Cereal crops, such as corn and wheat, are widely grown and easily accessible in many parts of the world. Their availability in large quantities makes them a cost-effective option for inclusion in compound feed formulations. Thus, making them dominate the ingredients segment.

The poultry in by livestock segment accounted for the largest share of the compound feed market in 2023 in terms of value.

Poultry, especially chicken, is one of the most widely consumed meats globally. The demand for poultry products, such as meat and eggs, is consistently high due to factors like affordability, versatility, and nutritional value. This high demand for poultry products drives the need for poultry compound feed. The compound feed market is influenced by the high demand for poultry products, including meat and eggs, which are widely consumed globally. Poultry, particularly chicken, stands out as one of the most popular meats, with a significant consumption rate per capita. According to the OECD, poultry meat consumption in 2022 reached 32 kg per capita, compared to 1.3 kg for sheep meat, 14.2 kg for beef and veal, and 22.8 kg for pork meat.

The mash by form segment accounts for the largest share in the compound feed market.

Mash feed consists of finely ground ingredients that are mixed together, resulting in a uniform texture. This makes it easier for animals to consume and digest. It is particularly beneficial for young animals or those with delicate digestive systems, such as poultry chicks or piglets. The grinding process used to create mash feed increases the surface area of the ingredients, enhancing the availability and absorption of nutrients. This can lead to improved growth rates, feed efficiency, and overall performance in animals. Such factors make the mash form of compound feed more desirable for livestock.

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The plant-based in by source segment accounted for the largest share of the compound feed market in 2023 in terms of value.

Plant-based animal feed is seen as more sustainable and environmentally friendly compared to traditional compound feed, which often contains animal by-products and contributes to deforestation and greenhouse gas emissions. Plant-based feed relies on crops such as soybeans, corn, and wheat, which can be grown in a more controlled and sustainable manner. Plant-based feed is often perceived as healthier for animals. It can provide a balanced mix of essential nutrients and reduce the risk of diseases associated with animal-based feed, such as bovine spongiform encephalopathy (BSE or "mad cow disease").

The Asia Pacific region accounted for the largest share and fastest growing market, in terms of value, of the global compound feed market in 2023.

The Asia Pacific region, comprising countries like China and India, holds 60% of the global population, amounting to around 4.3 billion people. This densely populated region has witnessed continuous population growth, resulting in an escalating demand for animal-derived products like meat, milk, and eggs. Consequently, there is an increased need for compound feed to sustain the growing demand for

livestock and poultry production. As incomes rise and dietary preferences evolve, there is a notable shift towards greater consumption of animal protein, propelling the expansion of the livestock and poultry sectors and further driving the demand for compound feed.

Major key players operating in the compound feed market Cargill, Inc. (US), ADM (US), Charoen Pokphand Foods (Thailand), New Hope Group (China), Land O'Lakes (US), Nutreco N.V (Netherlands), Alltech, Inc. (US), Guangdong Haid Group Co., Ltd (China), Weston Milling Group (Australia), and Feed One Co. (Japan).

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