$110.29 Billion Growth in Global Animal Feed Market During 2021-2025 | Featuring Key Vendors Including Archer Daniels Midland Co., Cargill Inc., and Charoen Pokphand Foods Plc | Technavio
NEW YORK, March 25, 2021 /PRNewswire/ -- Technavio announces the release of its latest report on the animal feed market. The market is segmented by animal type (poultry, swine, ruminant, aquaculture, and others) and geography (APAC, Europe, North America, South America, and MEA). The report offers an in-depth analysis of recent developments, changes in market regulations, product approvals, product launches, and the market behavior across various segments.
Animal Feed Market: Key Findings
- Animal feed market value to grow by USD 110.29 billion at over 4% CAGR during 2021-2025
- 39% of market growth to originate from APAC during the forecast period
- Based on the animal type, the poultry segment will offer maximum opportunities for vendors during the forecast period
- Animal feed market is expected to have a positive impact due to the spread of COVID-19
Animal Feed Market: Growth Drivers
Increasing number of product launches is one of the prime factors driving the growth of the market. Vendors in the market are focusing on successful product launches to increase revenue flow and market share. For instance, in September 2019, DuPont de Nemours Inc. launched Axtra PHY, the latest generation of phytase enzymes in Japan. Similarly, In September 2020, Evonik AG announced the launch of guanidino acetic acid-product (GAA), GuanAMINO. The product is intended to enhance energy metabolism in livestock production. Such successful product launches are expected to foster the growth of the market during the forecast period.
"Entry of new players into the market and the increasing demand for meat and poultry will further boost market growth during the forecast period", says a senior analyst at Technavio.
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Animal Feed Market: Major Vendors
Archer Daniels Midland Co.
Archer Daniels Midland Co. operates its business through segments such as Ag Services and Oilseeds, Carbohydrate Solutions, Nutrition, and Other. The company offers various products including feed additives amino acid, premix formulations, and others.
Cargill Inc.
Cargill Inc. operates its business through segments such as Agriculture, Animal nutrition, Beauty, Bioindustrial, Food & beverage, Pharmaceutical, Industrial, Meat & poultry, and Others. The company offers animal feed products under the brands NutreBeef Cattle Feeds, Ranger Limiter, Cinergy, and others.
Charoen Pokphand Foods Plc
Charoen Pokphand Foods Plc operates its business through segments such as Livestock business and Aquaculture business. The company offers animal feed products that include swine feed, chicken feed, duck feed, shrimp feed, and fish feed.
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Report: www.technavio.com/report/animal-feed-market-industry-analysis
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