Apr 23, 2024 (MENAFN via COMTEX) --
(MENAFN - EIN Presswire)
The animal feed ingredients market is anticipated to grow at a CAGR of 3.81% from US$60.704 billion in 2022 to US$78.876 billion by 2029.
The animal feed ingredients market is anticipated to grow at a CAGR of 3.81% from US$60.704 billion in 2022 to US$78.876 billion by 2029." - Knowledge Sourcing IntelligenceNOIDA, UTTAR PARDESH, INDIA, April 23, 2024 /EINPresswire / -- According to a new study published by Knowledge Sourcing Intelligence, the animal feed ingredients market is projected to grow at a CAGR of 3.81% between 2022 and 2029 to reach US$78.876 billion by 2029.
One of the key growth drivers to propel the animal feed ingredients market during the forecasted period is the growing global population across the globe especially in countries like China and India which have the highest populations across the globe. The consistently growing global population needs higher food production for meat and dairy which propels the market growth.
Moreover, the factor that propels growth in the animal feed ingredients market is the growing demand for livestock and farm products like milk, eggs, and meat which is increasing the import and export trade across several countries for these animal products to meet the increasing global demand for them. Also, innovative technology coupled with increasing knowledge about animal nutrition are used for several farm and poultry-based operations to make the process more efficient and smoother to increase production of animal-based dairy products hence, these factors are predicted to boost the animal feed ingredients market over the forecast period.
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The animal feed ingredients market, by source, is divided into two types- plant-based, and animal-based. These different sources of animal feed ingredients play an important role in propelling growth in the market for instance, plant-based animal feed ingredients include
corn that is used for feeding
cattle and swine to provide them with proteins and carbohydrates which are necessary for the healthy life of the animals.
The animal feed ingredients market, by type, is divided into ten types- corn, wheat, soy,
soybean meal, rendered meal, fish meal, preservative, colorant, and flavor. There is a wide variety of different types of animal feed ingredient that helps to cater to different nutrition needs for different types of animals which in turn helps to grow the market for animal feed ingredients.
The animal feed ingredients market, by livestock, is divided into five types- swine, cattle, poultry, aquatic, and pet. There are different types of livestock that the animal feed ingredients market can cater to cater to each of their different nutritional needs such as the
cattle eating
corn and
soybean meals to get necessary carbohydrates and a protein-rich diet to stay healthy. Hence, the different types of livestock for animal feed ingredients are expected to grow the market.
The Asia-Pacific region is expected to witness significant growth in the animal feed ingredients market during the forecasted period as this region has a growing population in the region with the highest populated countries like China and India growing the demand for livestock and poultry farming in the region. Moreover, there is a significant rise in investments in animal husbandry and poultry farming industry by farmers and governments across different countries in the Asia-Pacific region. Therefore, these factors play a crucial in fuelling the market growth in the Asia Pacific region.
The research includes several key players from the animal feed ingredients market, such as Dupont, Mosaic Company, Burcon Nutrascience Corporation, ADM, Alltech, Cargill, BASF SE, DSM, AB Vista, and Amandus Kahl GmbH & CO.
The market analytics report segments the animal feed ingredients market using the following criteria:
.By Source
oPlant-Based
oAnimal-Based
.By Type
oCorn
oWheat
oSoy
oSoybean Meal
oRendered Meal
oFish Meal
oPreservative
.Fumaric
.Formic
.Prionic
.Lactic
oColorant
oFlavor
oOthers
.By Livestock
oSwine
oCattle
oPoultry
oAquatic
oPet
.By Geography
oNorth America
.USA
.Canada
.Mexico
oSouth America
.Brazil
.Argentina
.Others
oEurope
.UK
.Germany
.France
.Italy
.Others
oMiddle East and Africa
.Saudi Arabia
.UAE
.Others
oAsia Pacific
.China
.Japan
.India
.South Korea
.Taiwan
.Thailand
.Indonesia
.Others
Companies Mentioned:
.Dupont
.Mosaic Company
.Burcon Nutrascience Corporation
.ADM
.Alltech
.Cargill
.BASF SE
.DSM
.AB Vista
.Amandus Kahl GmbH & CO.
Explore More Reports:
.Feed Additives Market:
.Feed Premix Market:
.Feed Protein Market:
Ankit Mishra
Knowledge Sourcing Intelligence LLP
+1 850-250-1698
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