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Nutritional requirements of livestock animals and balanced feeding practices have taken higher importance in recent years due to an increase in commercial livestock producing units & scope to enhance the productivity to meet the rising demand for livestock products.
The major determinant of demand for feed materials is the demand for the livestock products and commercialization trend of livestock farms. According to the Food and Agriculture Organization (FAO), global milk production is projected to increase by 22% during the medium-term forecast period (2018 to 2027). Commercialization of livestock farming is leading to a shift in technology towards more intensive feeding and the same in turn have a significant impact on the pattern of feed use and demand for increased feed materials. Other factors that are driving the compound feed market are declining grazing lands, collection and storage issues with traditional feedstuffs, and increased consumer awareness about the quality of the livestock products.
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Currently, there is a wide range of compound feed products that are available in the marketplace to meet the feed requirement (volume) of different type of livestock animals. Supply and demand pattern of feedstuff significantly varies in developing and developed nations. Global trade also plays a vital role in meeting the demand for feedstuffs wherein the global trade market for major grains is dominated by few of the key players such as ADM, Cargill, Bunge, Glencore International, and others.
The factors that are expected to inhibit the growth of the market is availability & use of cheaply priced substitute products grown at the farms (ease of access), low purchasing power, inadequate extension and awareness, and poor infrastructure.
Some of the major companies that are present in the global compound feed market are CP Group, New Hope Group, Alltech, ADM, Cargill, Land O’ Lakes, Wens Food Group, and others. Production capacity expansion, acquisition, and new product launches are the key strategies implemented by the players in the industry to enlarge their market share.
By Ingredient Type
· Feed grains
· Cakes & Meals
· Ruminants (Calves, Dairy, & Beef Cattle)
· Swine (Starter, Grower, and Sow)
· Poultry (Chicks, Broilers, and Layers)
· Aquatic animals (Molluscs and Fish)
· North America (USA, Canada, and Mexico)
· Europe (Germany, France, Italy, Netherland, Russia, and Rest of Europe)
· Asia Pacific (Japan, China, India, Australia, and Rest of Asia Pacific)
· South America (Brazil, Argentina, and Rest of South America)
· Middle East & Africa (South Africa and Rest of MEA)
Compound feed market can be segmented by ingredient type as feed grains, Cakes & Meals, By-Products, and Supplements. In terms of value, supplements segment accounts for a major share in the global compound feed market.
Asia Pacific region followed by Europe are the two largest markets for the compound feed at present, and they are expected to account for a significant proportion of the market in the forecast period as well. Globally, China, US, and Brazil are the key countries that account major share of compound feed market. Top five countries of Europe (namely Germany, France, Italy, Netherland, and Belgium) have accounted for 50% of the market share of European compound feed.
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