Market Research Future (MRFR) assessed the Global Compound Feed Market 2020 for the assessment period till 2023. The global compound feed market value can expand at 4.02% CAGR through the review period. By 2023, the compound feed market can value at USD 539.99 Bn, asserts MRFR findings. Covid-19 analysis on compound feed market is released with the report. Information offered under Covid-19 compound feed market analysis by proficient researchers can aid stakeholders take better decisions. The growing popularity of precision nutrition in the agriculture industry to improve health of livestock can support the expansion of the market.
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The rapid rise in the consumption of meat is creating the need to cater them healthy feed that can promote the market in the analysis period.
United Animal Health Inc. (U.S.), COFCO (China), NUTRECO NV (The Netherlands), Land ‘O Lakes Inc. (U.S.), FEEDONE Co., Ltd. (Japan), Weston Milling Animal Nutrition (Australia), PT JAPFA COMFEED Indonesia Tk (Indonesia), Archer Daniels Midland (ADM) Company (U.S.), Cargill Inc. (U.S.), Charoen Pokphand Foods PCL (Thailand), NEOVIA Group (France), New Hope Group (China), and FORFARMERS NV (The Netherlands) are some of the well-established Compound Feed Market that are recognized by MRFR.
The segment analysis of Compound Feed Market is done by supplement, ingredient, and distribution channel.
The ingredient-based segments of the compound feed market are cereals, cereal by-products, supplements, molasses, oilseed meal, and oils, among others. The cereals segment can expand at 3.48% CAGR to generate about USD 195.9 Mn by 2023. The Oilseed meals segment can thrive at 4.45% CAGR to earn USD 156.7 Mn by 2023. The Supplements segment can rise at 4.71% CAGR to garner USD 74.6 Mn by 2023.
The supplement-based segments of the Compound Feed Market are amino acids, antioxidants, acidifiers, vitamins, antibiotics, and enzymes among others. The Amino acids segment can witness 5.31% CAGR and is likely to acquire USD 18.5 Bn by 2023. The enzymes segment can rise at 5% CAGR to earn USD 8.4 Bn across the assessment period. The antioxidants segment can register about 4.25% CAGR to generate about USD 12.2 Bn by 2023.
The livestock-based segments of the compound feed industry are poultry, ruminants, swine, and aquaculture, among others. The poultry segment can earn witness 4.15% CAGR through the review period to garner USD 212.2 Bn by 2023. The aquaculture segment can register 4.38% CAGR and is likely to earn USD 65.7 Bn by 2023.
North America compound feed market can expand at 3.80% CAGR through the analysis period. By 2023, the compound feed indutry can value at USD 113.8 million by 2023. The expansion of the regional market can be credited to the established feed mills across the U.S. and Mexico. The increase in the demand for seafood and high demand for compound feeds to cater to broilers can cause the market to surge through the analysis period.
In Europe, the compound feed market can rise at 4.07% CAGR in the analysis period. The market value can touch USD 135.2 Mn by 2023. The presence of some top-notch compound feed suppliers and the availability of supplements for livestock can boost the compound feed industry that favor the regional market.
In APAC, the compound feed market register 4.21% CAGR in the analysis period. The compound feed market can value at USD 211.2 Mn by 2023. Increase in the meat consumption can encourage the compound feed market soon.
In South America, the compound feed market can rise at 3.88% CAGR by 2023 to acquire about USD 63.1 Mn. The market in RoW can exhibit 3.26% CAGR to earn revenue of about USD 16.6 Mn by 2023.
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NOTE: Our Team of Researchers are Studying Covid19 and its Impact on Various Industry Verticals and wherever required we will be considering Covid19 Footprints for Better Analysis of Market and Industries. Cordially get in Touch for More Details.