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Compound Feed Global Market Report 2023
Major players in the compound feed market are Cargill Inc., The Archer-Daniels-Midland Company, New Hope Group, Charoen Pokphand Food, Land O’Lakes Inc., Nutreco N.V, Guangdong Haid Group Co Ltd., Forfarmers NV, Alltech, Feed One Co.
New York, March 08, 2023 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Compound Feed Global Market Report 2023" - https://www.reportlinker.com/p06318607/?utm_source=GNW
Ltd., J. D. Heiskell & Company, Inc., Kent Nutrition Group, Purina Animal Nutrition LLC, Ballance Agri-Nutrients Ltd., DuPont de Nemours Inc., De Heus Vietnam LLC, and Elanco Animal Health Incorporated.
The global compound feed market grew from $444.2 billion in 2022 to $468.9 billion in 2023 at a compound annual growth rate (CAGR) of 5.6%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services, and affecting many markets across the globe. The compound feed market is expected to grow to $573.93 billion in 2027 at a CAGR of 5.2%.
The compound feed market consists of sales of grains, brans, protein meals and cakes, chunnies, agro-industrial by-products.Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers.
The value of goods in this market includes related services sold by the creators of the goods.
The compound feed are used for oral animal feeding and animal nutrition.Compound feed refers to a complete or complementary feed made up of at least two feed components and feed additives.
It is a mixture of basic materials and supplements fed to livestock, derived from plants, animals, organic or inorganic substances, or industrial processing.
Asia-Pacific was the largest region in the compound feed market in 2022.South America is expected to be the fastest-growing region in the forecast period.
The regions covered in the compound feed market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa.
The main components of compound feed are cereals, cakes, meals, byproducts, and supplements.Cereal grains are fed to animals as a source of energy because of their high starch content.
Compound feed is available in solid and liquid forms.The sources of compound feed include plant and animal-based.
The various types of animals include cattle, swine, poultry, aquaculture, and other animals.
An increase in the demand for meat and aquaculture products is expected to propel the growth of the compound feed market going forward. A meat product is designed for human consumption and contains flesh from animals such as cattle, buffalo, goats, sheep, pigs, and fowl; whereas aquaculture is the commercial, recreational, and scientific multiplication and management of aquatic plants, animals, and other species.The compound feed contains all the essential nutrients to keep farmed fish healthy and thereby increases the demand for meat and aquaculture products. For instance, in July 2021, according to a report released by OECD iLibrary, a France-based online library of statistics, worldwide animal protein consumption is expected to rise by 14% by 2030, compared to 2018-2020. Therefore, an increase in the demand for meat and aquaculture products is driving the growth of the compound feed market.
Product innovation is a key trend gaining popularity in the compound feed market.Major companies operating in the compound feed market are looking for new products with unique features to strengthen their position in the compound feed market.
For instance, in October 2021, Cargill, a US-based food corporation operating in the compound feed market, launched poultry feed by adding essential oils to its Nutrena, Naturewise for healthy flocks, and maximised egg production. Natural essential oils contribute to the promotion of egg size, weight, and production; enhanced palatability; and a fresh aroma.
In March 2021, Royal De Heus BV, a Netherlands-based nutritional supplier producing compound feed acquired Golpasz for an undisclosed amount.Through this acquisition, Royal De Heus BV aims to strengthen its knowledge related to animal nutrition, product technology and livestoclk farming.
Golpasz is a Poland-based company operating in animal feed.
The countries covered in the compound feed market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
The compound feed market research report is one of a series of new reports that provides compound feed market statistics, including compound feed industry global market size, regional shares, competitors with a compound feed market share, detailed compound feed market segments, market trends and opportunities, and any further data you may need to thrive in the compound feed industry. This compound feed market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future state of the industry.
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