South Africa Animal Feed Market Outlook

The south african animal feed market is anticipated to register a steady cagr of 4.22% over the forecast period (2018-2032). this growth is attributed to an increase in the demand for animal feed, which is driven by the rising population and surging meat consumption in the country. the high demand for animal feed is also promoting the growth of the animal feed market in the country. the growing consumption of poultry products has bolstered the market’s growth, due to the increasing demand for chicken in the country. a shift in consumer diet towards a more protein-rich diet is also expected to drive the growth of the animal feed market in south africa. apart from this, technological advancements in the animal feed industry have provided cost-effective solutions, and boosted production efficiency, thereby driving the market’s growth. the strict government regulations pertaining to animal feed hygiene and labour intensive production process is restraining the growth. high production cost for premium quality animal feed is expected to challenge the market's growth. the animal feed market in south africa has been segmented, by type, into: cereal-based feed; oilseeds and meals based feed; animal by-product based feed; and others. cereal-based feed accounted for the largest market share due to its relatively low cost and it being a rich source of nutrients. oilseeds and meals based feed is expected to register the fastest cagr over the forecast period, owing to the growing demand for oils and fats in animal feed. by livestock, the animal feed market in south africa is segmented into: poultry; swine; cattle; aquaculture; equine; and others. poultry is expected to be the largest segment in the south african animal feed market, due to the increasing consumption of poultry-based products. the animal feed market in south africa is highly competitive and is dominated by players such as aller aqua, lakesha feeds, and pioneer foods. in terms of regional presence, la basa feeds, pioneer foods, and aller aqua are the major players in the market. the market is concentrated, with the top three players accounting for a major share in the market.