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Horse Feed Global Market Report 2023
Major players in the horse feed market are Allen And Page Ltd., Baileys Horse Feeds, Big V Feeds Inc., Cargill Incorporated, Equifirst Private Limited, Farmvet Agro Private Limited, ForFarmers N.V., HorseTech Nutrition, Purina Animal Nutrition LLC, Rowen Barbary Ltd.
New York, March 03, 2023 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Horse Feed Global Market Report 2023" - https://www.reportlinker.com/p06426512/?utm_source=GNW
, Triple Crown Nutrition Inc., West Feeds Inc., A-One Feed Supplements Ltd., Glanbia PLC., Hubbard Feeds Inc., Jupe Feeds Incorporated, Cavalor, WES Enterprises L.P., and Nutrena World.
The global horse feed market grew from $7.58 billion in 2022 to $8.14 billion in 2023 at a compound annual growth rate (CAGR) of 7.5%. 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 horse feed market is expected to grow to $10.27 billion in 2027 at a CAGR of 6.0%.
The horse feed market consists of sales of molasses, beet pulp, wheat, rice bran, soyabean meal.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 horse feed are used to feed horses.Horse feed refers to food that is specifically grown and developed for horse consumption that provides energy, nutrition, or both when added to their diet.
The horse feed is fed to horses with a fiber-based diet such as grass, pasture grass, hay, hay replacement, concentrates such as small grains, such as corn, oats, and barley, or supplements that include protein and vitamin-mineral supplements.
Asia-Pacific was the largest region in the horse feed market in 2022. The regions covered in the horse feed market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
The main types of horse feed are performance, senior or old, professional, mare and foal, and others.The performance horse feed is used for activities such as walking, trotting, cantering, running, jumping, and turning, and includes starch, cereal grains such as oats, corn, or barley, fat such as corn and soybean oil, flax, and rice bran, protein, and fiber.
The different nutrition types include high fibre, low starch, high protein, and high fats that include various ingredients such as cereals, supplements, cakes, meals, and others.The several forms include pellets, cubes, and powder.
The different applications include online sales and offline retail.
The growing horse population is contributing to the growth of the horse feed market.Horses are four-legged hoofed mammals.
The rising horse population requires feed for health and growth.Horse feed offers advantages such as supplying protein, vitamins, calcium, and minerals, thereby improving the overall health and longevity of horses.
For instance, according to the American Horse Council Foundation, a US-based foundation involved in scientific, charitable, and educational activities associated with the horse industry, in 2021, the horse population in the US reached 9.2 million. Therefore, the growing horse population is anticipated to propel the growth of the horse feed market going forward.
Product innovations are the key trends gaining significant popularity in the horse feed market.Major market players are concentrating their efforts on launching new and innovative products such as targeted amino acid supplementation, equine microbiome optimization supplements, immunomodulatory nutrition, and veterinary diets for equine disease conditions that aid in improving the nutritive quality of the feed, improving digestibility, palatability, and physiology of the horses.
For instance, in 2021, Saracen Horse Feeds, a UK-based horse feed producing company, launched Saracen RE-LEVE cubes that are low in sugar, whole cereal, and alfalfa free.It contains super fibers and oils as an alternative source of energy and also live yeast to help maintain optimum digestive tract health.
Additionally, it is encapsulated with a persistent blackcurrant flavor.
In January 2022, Sunrice Group, an Australia-based feed company,’s CopRice line of horse feed, acquired Pryde’s EasiFeed for $ 38 million.Through this acquisition, CopRice aimed to increase its business scale and diversification into new geographic regions.
Pryde’s EasiFeed is an Australia-based company that produces horse feed.
The countries covered in the horse 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 horse feed market research report is one of a series of new reports that provides horse feed market statistics, including global market size, regional shares, competitors with horse feed market share, detailed horse feed market segments, market trends, and opportunities, and any further data you may need to thrive in the horse feed industry. This horse feed market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.
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