Vertical: CFnBBase Year: 201711 Sections
Market Size (2017)
$480.99M
Projected (2023)
$617.61M
CAGR (2016–2023)
4.2%
Key Players
10+
Global animal feed market is projected to reach USD 617.61 Billion by 2023 with the growth rate of 4.27% during the forecast period. Asia-Pacific holds major market share of 35.91% in the 2018 and it is projected to reach to USD 226.91 Billion by the end of 2023. Asia Pacific region will witness the highest CAGR of 4.75% during the forecast period 2018 to 2023.
Globally, pellets hold the major market share of 39.08% in the year 2018 and it is projected to reach USD 243.62 Billion by 2023. Moreover, pellets will witness higher growth rate of 4.48% during the forecast period 2018 to 2023 whereas, crumbles segment is projected to reach USD 194.58 Billion by 2023.
Globally, poultry segment holds a major market share of 37.88% in the year 2018 and it is projected to reach USD 246.76 Billion by the year 2023. Moreover, poultry segment is estimated to witness the highest growth rate of 4.49% during the forecast period 2018 to 2023. However, aqua segment is gaining tremendous growth and is projected to grow at a substantial growth rate of 4.34% during the forecast period.
The Animal Feed Market market is projected to grow at a CAGR of 4.2% from 2016 to 2023.
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View Subscription PlansFeed, usually known as animal feed is manufactured to provide nutritional diet to the animals that assist in maintaining the health of the animals which further increases the quality of such end products as meat, milk, and eggs. There are various nutrients including carbohydrates, protein, fats, minerals, and water which animals require in their basic diet for maintenance growth, reproduction, and good health. These nutrients are provided to them through feed.
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View Subscription PlansResearch Process
Wantstats research is conducted by industry experts who offer insight into industry structure, market segmentations, technology assessment, competitive landscape (CL), penetration, as well as on emerging trends. Besides primary interviews (~ 80%) and secondary research (~ 20%), their analysis is based on their years of professional expertise in respective industries. Our analysts also predict where the market will be headed in the next five to ten years, by analyzing historical trends and current market positions. Furthermore, the varying trends of segments & categories geographically presented are studied and are estimated based on primary & secondary research.
Primary Research
Extensive primary research was conducted to gain a deeper insight of the market and the industry performance. In this report we have conducted primary surveys (interviews) with the key level executives (VP, CEO’s, Marketing Director, Business Development Manager and many more) of the major players who are active in the market. In addition to analyzing the current and historical trends, our analysts predict where the market is headed, over the next five to ten years.
Secondary Research
Secondary research was mainly used to collect and identify information useful for extensive, technical, market-oriented, and commercial study of the Animal feed Market. It was also used to obtain key information about major players, market classification and segmentation according to the industry trends, geographical markets, & developments related to the market and technology perspectives. For this study, analysts have gathered information from various credible sources, such as annual reports, SEC filings, journals, white papers, corporate presentations, company web sites, international organization of animal feed, some paid databases and many others.
Market Size Estimation
Both, top-down and bottom-up approaches were used to estimate and validate the size of the market and to estimate the size of various other dependent submarkets of the overall animal feed market. The key players in the market were identified through secondary research and their market contributions in the respective geographies were determined through primary and secondary research. This entire procedure included the study of the annual and financial reports of top market players and extensive interviews for key insights with industry leaders such as CEOs, VPs, directors, and marketing executives. All percentage shares, splits, and breakdowns were determined using secondary sources and verified through primary sources. All the possible parameters that affect the market have been covered in this research study have been accounted for, viewed in extensive detail, verified through primary research, and analyzed to get the final quantitative and qualitative data. This data has been consolidated and added with detailed inputs and analysis from Wantstats and has been presented in this report.
Base Year
2017
Historical Period
2016 – 2016
Forecast Period
2018 – 2023
Primary Interviews
150+
Historical data (2016–2017) and forecast period (2017–2023)
Our research process spans primary interviews with industry stakeholders combined with comprehensive secondary data analysis, validated through triangulation across multiple independent sources.
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View Subscription PlansThe animal feed market is competitive with major market players operating at the global level. The key industry players in the animal feed market have adopted the strategies such as geographical expansion, acquisitions, agreement, joint venture & partnerships to strengthen their business portfolio. Most of the companies operating in this market are focusing on expanding their operations across the geographies, augmenting their capabilities and investing in research and development to offer variety of products.
This graph indicates the percentage wise business strategies taken by key manufacturers of animal feed who have their presence globally. ForFarmers N.V. accounted for the highest market share in terms of development and is projected to constitute 22% of the developmental share in the global animal feed market. The company is majorly focusing on acquisitions to expand their portfolio and make their geographical presence prominent. Charoen Pokphand Group is anticipated to account for a share of 17% of the overall development in the global animal feed market followed by Cargill Inc. Charoen Pokphand Group is identified to have a high focus on business expansion, acquisitions, and partnership to have a sustainable development. Moreover, Cargill Inc. is found to be engaged in acquisitions and partnerships to strengthen their position in the market.
Major manufacturers are found to have a high focus on strategic acquisitions and business expansions. They are also involved in the strategic agreement which will further support the company to expand and reach out to consumers across the regions. Acquisitions are also done to mark the company’s presence and expand their business line.
This graph indicates the percentage wise business strategies taken by animal feed manufacturers at a global level. In the strategy analysis, acquisitions account for major share of 50%. Key players in the animal feed market are inclined towards acquisitions to expand their geographical presence. Moreover, expansions are holding 33% of share in strategy market for animal feed followed by joint-venture accounting for a share of 14% in the development of animal feed market.
Additionally, the companies are inclined towards new product launch and their product promotions to strengthen their marketing base. The promotional strategy aids in retaining the existing customers and to regenerate new customer base.
Threat of New Entrants
Economies of Scale: Animal feed business is highly competitive and huge. Major key players have their prominent presence, especially in China, and the US which makes the market of these regions dominated by these players. The initial investments in the animal feed market are high including the raw material costs, certification cost, and approval from the regulating bodies. Also, the revenues are high considering to rising population of livestock in various regions. Production costs of animal feed are identified to be moderate to high because of high investment in production equipment, skilled labor inputs, maintenance cost, and safety testing & certification. However, with the increasing production of animal feed, the average variable production cost decreases of the animal feed.
Availability of raw material: The ingredients required to produce animal feed are available from agricultural farmers. However, their availability varies from season to season and region to region. Also, animal feed market is dominated by established players in the market and to enter the market; new players need to invest hugely in creating their brand identity through strategies such as high R&D investments and by creating product differentiation. However, increasing demand makes the market look lucrative encouraging the players to invest.
Hence, the threat of new entrants to the animal feed market is moderate-high.
Bargaining Power of Suppliers
Suppliers for animal feed are the producers, distributors, importers and independent suppliers. Due to the availability of high count of competitors in a region, the suppliers have low to moderate bargaining power. In addition, the low switching cost tends to lower the supplier’s power.
The uniqueness of suppliers: Bargaining power of suppliers is a crucial factor in the animal feed industry and determines the strength of the company. Key players who are the suppliers (majorly) maintain a strong relationship with the consumers due to its immense buying power, also focused on strong business relations to maintain the end-product quality. The suppliers are unique in terms of sourcing, supplier relationship and product functionality creating product differentiation and uniqueness of suppliers.
Supplier Concentration: There is a strong supplier power concentration in all the regions due to the overall significant demand for animal feed. Key market players are dedicated towards development in production techniques, innovation and others.
Suppliers control over prices: The bargaining power of suppliers is moderate since the supplier group is widely spread across the regions in the market and are well-equipped to face the uncertainties and have decent control over the prices.
Therefore, the bargaining power of suppliers is moderate.
Threat of Substitutes
Availability of substitutes & ease of substitution: Although there is no potential replacement available for essential animal feed, which promotes livestock growth, the animal feed can be substitutes among themselves. For instance, the controversy over the use of antibiotics as an additive in the animal feed has encouraged the manufacturers to increase the production capacity of acidifiers as potential replacements. However, the animal feed has low chances to be replaced.
The threat of substitute in animal feed market is low.
Bargaining Power of Buyers
The bargaining power of buyers is directly proportional to economic development. The bargaining power includes the pressure consumers exert on businesses to procure higher quality products, better customer service, and lower prices.
Number of customers: The number of consumers of animal feed in the global market is high. Application of animal feed to feed the livestock and promote healthy function of the livestock have raised their demand on a global level. Increasing livestock population will ensure escalation in demand for animal feed.
Switching cost of consumers: The presence of large industrial players in the global animal feed market has attracted a huge consumer base. Due to a large number of existing manufacturers in the market, the switching cost of consumer falls. Furthermore, the presence of many varieties among the product range tends to decrease the switching cost. The consumers are well-educated about the product and, they no longer have brand loyalty, which determines the bargaining power of buyers which depends on these two major factors.
The bargaining power of buyers is moderate in the global animal feed market.
Internal Rivalry
Number of competitors: The animal feed industry is marked by the high intensity of the rivalry. The established market players in the animal feed industry indulge in a fierce rivalry where the market players are targeting their competitors in terms of quality and price, thus making the industry competitive and reducing profit potential for the existing firms.
The capacity of competitors: Market players in the animal feed industry have high production capacity and focus on strategic investments in R&D. However, the application of animal feed and the number of end users is increasing from last few years. The end-user of animal feed are the livestock producers and farmers who support the further growth of this market.
The animal feed market has many competitors. This market is significantly growing, and manufacturers want to increase the production volume of high-quality animal feed. Market players want to fight for greater market share, but the presence of small-scale suppliers from various countries are impacting on the scope of the key players in the market.
Hence, the internal rivalry in the animal feed market is high.
Market estimates by geography (2023)
InsightAsia Pacific leads with $226.91M by 2023.
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View Subscription Plans| REGION | 2016 | 2017 | 2023 | CAGR | SHARE |
|---|---|---|---|---|---|
| Asia Pacific | $164.43M | $197.20M | $226.91M | 4.7% | 37% |
| Rest of the World | $81.40M | $93.26M | $103.57M | 3.5% | 17% |
| Europe | $115.32M | $136.43M | $155.39M | 4.4% | 25% |
| North America | $100.85M | $117.22M | $131.74M | 3.9% | 21% |
| Total | $462.00M | $544.11M | $617.61M | 4.2% | 100% |
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View Subscription PlansTotal Market Size
$617.61M
| APPLICATION | REVENUE ($B) | GROWTH RATE | MARKET PENETRATION |
|---|---|---|---|
| Pellets | $243.62M | 4.4% | 39% |
| Crumbles | $194.57M | 4.3% | 32% |
| Mash | $127.76M | 4.1% | 21% |
| Form_Others | $51.65M | 3.6% | 8% |
* Revenue projections based on 2025 estimates. Growth rates represent CAGR 2024–2030. Market penetration indicates current adoption rate within addressable market segments.
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Analytical insights on Animal Feed Market covering market dynamics, competitive landscape, and strategic outlook.
The Animal Feed Market market is projected to reach $617.61M by 2023, growing at 4.2% CAGR. The Pellets segment holds the largest share.
The global animal feed market is expected to witness substantial growth over the forecast period. Continuous increase in the production of industrial livestock owing to escalating consumption of meat among the consumers is expected to be the primary factor for the rising growth of global animal feed market during the forecast period of 2018-2023. Apart from that, rising demand for seafood is anticipated to fuel the sales of animal feed at a global level. However, rising cost of raw materials act as a hindrance to the growth of the animal feed market.
The global livestock production accounts for about 40% of the gross value of agricultural production. It has been observed that the livestock population is experiencing rapid growth based on the growing number of population and change in consumer lifestyles. By 2050, the world’s population will reach about 9 billion and growth in urbanization is expected to accelerate the consumption of meat products. Changing consumer preferences and their high inclination towards animal-based protein have increased the global demand for quality foods, such as meat, egg, and milk. Thus, the rise in demand for meat and dairy products have prompted the growth of animal livestock market.
Moreover, increase in per capita disposable income and rising health-conscious population have prompted the growth of the meat sector. Consumers are ready to pay more for protein-rich food sources and are increasing their consumption of meat products. Moreover, they are more selective in purchasing meat, milk, and eggs; questioning what their animals eat and how they are kept. The surge in the consumption of meat products has brought in various stringent regulations by the government focusing on the health of the livestock which has forced the livestock farmers to choose the feed for their animals wisely. To balance the demand and supply cycle of the meat products, there is an increase in the production of industrial livestock and a strong emphasis is on the health of the livestock.
Aquaculture has witnessed tremendous growth over the past few years. Asia, particularly China, is the most significant market for aquaculture market which is currently supplying 89% of global aqua species production. Fishes are a source of valuable protein, and fish oil is gaining huge demand in various industries as an active ingredient. Fish is a good source of protein, fatty acids, vitamins, minerals, and essential micronutrients. Owing to the huge demand for fish oil from various industries, the aquaculture sector is likely to grow in the coming years.
Based on its dynamic performance over the last 30 years, and with stable catches from capture fisheries, it is likely that the future growth of the fisheries sector will come mainly from aquaculture. It has been predicted that the importance of fish farming will increase even more in the future because it has clear advantages over beef and pork production. Aquaculture is expected to satisfy the growing demand for fish. Aquaculture market will be mainly driven by massive population growth, urbanization, and increasing wealth. Aquaculture expansion has largely relied on improvements surrounding feed, including feed composition for nutrition and digestibility as well as cost-effectiveness, genetics of fish, and feeding techniques and practices. Owing to the faster expansion of the global aquaculture sector, there will be an uplift in the growth of animal feed market.
The prices of primary ingredients of animal feed such as wheat, barley, and maize are experiencing a surge. The price indices show an increase in barley price by 8% and wheat price by 5% according to the London-based International Grains Council (IGC). Rising prices of raw materials are directly responsible for affecting the prices of compound animal feed. Plant sources are the primary raw materials in the animal feed industry. Owing to a decreased supply of raw materials and rising demand for animal feed, manufacturers tend to source raw materials regionally. However, sourcing raw materials regionally is constrained by high costs. For instance, due to expanding animal feeds industry in Kenya without corresponding increase in local supply of raw materials, 64% processors are looking to source raw materials outside their national borders. Animal feeds processors in Kenya suffer from a low supply of oil-based ingredients due to the weak domestic productive capacity of oilseeds.
Growing demand for meat, fish, and dairy as a part of a diverse diet has raised the need to produce them in the most sustainable way possible. Animal feed is a vital input to the food industry and has a significant implication for the environmental health and food security. Resources such as land, water, and energy are used to rear animals. Increasing livestock population plays a very crucial role and is identified to exert pressure on the environment. The livestock sector is responsible for the emission of about 15% of the global greenhouse gas (Food and Agriculture Organization) and utilizes 70% of the agricultural land. Looking at the current scenario and trends, a large amount of feed would be required to suffice the growing demand for livestock production. However, more production of feed is directly related to emission or increased percentage of greenhouse gases. Thus, this is a major challenge faced by the feed industry to foster sustainable food security. A highly efficient livestock farming practice is required to get a solution to this problem.
Near-term growth will likely concentrate in modular bioreactor lines and closed-system media workflows that shorten validation cycles while preserving batch traceability.
Partnerships between CDMOs and instrumentation vendors should accelerate standard datasets for comparability across sites, improving forecasting models used in capacity planning.
Longer horizon, organoid and microphysiological adoption may reshape segment mix; teams that invest early in assay interoperability and cloud QC hooks are better positioned to capture upside without fragmenting their analytics stack.
Profiles of 105 companies operating in the Animal Feed Market market, including revenue, employee count, and market positioning where available.
Showing 105 of 105 companies
Company Headquarters: Amersfoort, Netherlands Founded: 1994 Workforce: ~12,168 Company Working: Nutreco is an animal nutrition company that deals in the manufacturing and sales of the variety of nutritional products for chickens, pigs, ruminants, companion animals, and other livestock animals, as well as fish and shrimp, all over the world. The business is divided into three divisions: Animal Nutrition, Fish Feed, and Compound Feed. With sales in more than 90 countries, Nutreco employs over 11,000 people across 35 nations. Besides, Nutreco is a division of SHV Holdings N.V. since March 2015. The Nutreco company prominently deals with the two vertical lines namely Skretting and Trouw Nutrition companies, that focus on the aquaculture feed and animal nutrition feed industries respectively. The company responsibly provides its numerous feed additive product through Selko brand which works under the company's Trouw Nutrition vertical business.
Company Headquarters: Lochem, The Netherlands Founded: 2007 Workforce: The number of employees reported by the company is around 2,325 by December 2017. Company Working: ForFarmers operates in European countries such as the Netherlands, Germany/Belgium, and the United Kingdom providing feed solutions for conventional and organic livestock farming. Additionally, the company offers advisory services in the areas of feed, livestock farming, and business development. ForFarmers also provides tools such as programs, products, and services, which enable farmers to set business objectives, and monitor and benchmark results. The company operates by providing feed solutions for the ruminant, swine, and poultry sectors. ForFarmers N.V. operates as a subsidiary of Cooperative ForFarmers UA.
Company Headquarters: Bangkok, Thailand Founded: 1986 Workforce: 1,26,341 as of 31 December 2017 Company Working: Charoen Pokphand Group Company Limited operates as a holding company. The Company, through its subsidiaries, focuses on Agro-industry and food, marketing and distribution, and telecommunication businesses. The Company operates in 16 countries, exports products from Thailand to over 30 countries, covering over 4 billion population around the world. The Company operates in both the livestock (swine, broilers, layers, and ducks) and aquaculture (shrimp and fish) businesses. The major products of feed business include swine feed, chicken feed, duck feed, shrimp feed and fish feed, both in the form of concentrated feed and complete feed in powder and pallets.
Company Headquarters: Illinois, US Founded: 1902 Workforce: ~38,100 Company Working: Archer Daniels Midland Co (ADM) specializes in manufacturing food and beverage ingredients and other varieties of agricultural products. The company's product portfolios include natural flavors and colors, health and nutrition products, vegetable oil, corn sweeteners, flour, animal feed, and biofuels. It primarily operates in three business segments: Ag services and oilseeds, carbohydrate solutions, and nutrition. The origination, marketing, transportation, and storage of agricultural raw materials are all included in the worldwide operations covered by the agricultural services and oilseeds category. The section for carbohydrate solutions is involved in the wet and dry milling of corn and wheat, among other things. The segment converts corn and wheat into ingredients and products that are used in the food and beverage industry including sweeteners, corn, wheat starch, dextrose, syrup, glucose, and wheat flour. The nutrition segment serves customer needs for food, beverages, health, wellness, and many more. The nutritional segment covers the manufacturing, sale, and distribution of specialty products that include natural flavor ingredients, flavor systems, natural colors, plant-based proteins, emulsifiers, soluble fibers, polyols, and other specialty food and feed ingredients. With more than 270 processing plants, 500 crop procurement facilities, and a vast crop transportation network, Archer-Daniels-Midland Company (ADM) has a presence in over 160 countries worldwide. The company provides tapioca maltodextrins and syrup solids those are highly versatile and a taste neutral ingredient that offers various functionality, offering humectancy and adhesion and helps in preventing sugar crystallization, and the maltodextrin and corn syrup solids offers functionality that don’t impact the finished products taste.
Company Headquarter: Hong Kong Founded: 1981 Workforce: 12,000 employees as of December 2017 Company Working: COFCO is an abbreviate for China National Cereals, Oils and Foodstuffs Corporation and is one of China's state-owned food processing holding companies. COFCO is a global leader in grains, oilseeds and sugar supply chains, with assets across the Americas, Europe and Asia-Pacific. The company, through its subsidiaries, produces and processes meat and other food products. It also offers agricultural products and packaging products. It also engages in real estate and hotel operations.
Company Headquarter: Jakarta, Indonesia Founded: 1971 Workforce: The number of employees reported by the company is 21,474 till 31st December 2017 Company Working: The company engages in animal feeds manufacturing, poultry breeding, and poultry business and trading. It operates through the following business segments: Animal Feeds, Day Old Chick, Commercial Farm and Consumer Products, Aquaculture, Cattle, and Trading and Others. The Animal Feeds segment produces animal feeds. The Day-Old Chick segment breeds day old chicks. The Commercial Farm and Consumer Products segment focuses on chicken farming. The Aquaculture segment comprises of fish and shrimp feed production, shrimp hatchery, and shrimp farming. The Cattle segment includes cow, buffalo, and goat farming. The Trading and Others segment consist of general trading and real estate, plantations, and vaccine production activities.
10 interactive charts drawn from the Animal Feed Market dataset — market size, regional splits and each segment breakdown. Open one to read its full data table and download it.
Global Animal Feed Market United States, Canada and Mexico Of North America By Country
Global Animal Feed Market Germany, Spain, France, United Kingdom, Italy, Netherlands, Russian Federation and Rest Of Europe By Country
Global Animal Feed Market Latin-America, Middle-East and Africa Of Rest Of The World
Global Animal Feed Market China, India, Japan, Vietnam, Rest Of Asia Pacific and Australia And New Zealand Of Asia Pacific
Global Animal Feed Market By Region
Animal Feed Market North America By Country
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Historical performance and future projections (2020–2030, USD Billion)
Market Size (USD Mn)
