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The global animal feed market reached USD 559.37 billion in 2023. The market is projected to grow at a CAGR of 4.1% between 2024 and 2032, reaching almost USD 803.07 billion by 2032.
Global Animal Feed Market Report Summary | Description | Value |
Base Year | USD Billion | 2023 |
Historical Period | USD Billion | 2018-2023 |
Forecast Period | USD Billion | 2024-2032 |
Market Size 2023 | USD Billion | 559.37 |
Market Size 2032 | USD Billion | 803.07 |
CAGR 2018-2023 | Percentage | XX% |
CAGR 2024-2032 | Percentage | 4.1% |
CAGR 2024-2032 - Market by Region | Asia Pacific | 5.5% |
CAGR 2024-2032 - Market by Country | India | 6.1% |
CAGR 2024-2032 - Market by Country | China | 5.8% |
CAGR 2024-2032 - Market by Raw Material | Soy | 4.6% |
CAGR 2024-2032 - Market by Livestock | Aquatic Animal | 4.6% |
Market Share by Country 2023 | USA | 26.1% |
India is one of the leading exporters of animal feed. In FY 2023-24, it exported 8.92 lakh tons of oil meal to Bangladesh, 8.32 lakh tons to South Korea, and 6.33 lakh tons to Thailand. Iran is the largest soybean meal importer from India, recording 8.64 lakh tons of imports in 2023.
Over 70% of global antimicrobials sold are estimated to be used in animal feed production. However, strict implementation of animal welfare laws has led to a 28% reduction in the use of antimicrobials for animal feed in Europe as compared to 2018. While the consumption rate increased significantly in Africa and North America, increasing initiatives towards tackling antibiotic resistance among farmed animals is expected to result in the market expansion in the forecast period.
With the growing environmental consciousness, major market players are adopting sustainable techniques, like precision fermentation which minimises carbon emissions to produce animal feed. By gene modification and fermentation of yeast, this process can sustainably produce different vitamins and minerals, enzymes, and flavours for animal feed. This is expected to drive the market growth in the coming years.
Global Animal Feed Market Report and Forecast 2024-2032 offers a detailed analysis of the market based on the following segments:
Market Breakup by Type
Market Breakup by Livestock
CAGR 2024-2032 - Market by | Livestock |
Aquatic Animal | 4.6% |
Poultry | 4.4% |
Pork | XX% |
Cattle | XX% |
Others | XX% |
Market Breakup by Raw Material
CAGR 2024-2032 - Market by | Raw Material |
Soy | 4.6% |
Corn | XX% |
Others | XX% |
Market Breakup by Region
CAGR 2024-2032 - Market by | Region |
Asia Pacific | 5.5% |
Europe | 4.5% |
North America | XX% |
Latin America | XX% |
Middle East and Africa | XX% |
CAGR 2024-2032 - Market by | Country |
India | 6.1% |
China | 5.8% |
Germany | 5.0% |
Japan | 4.7% |
Italy | 4.3% |
France | 4.1% |
USA | XX% |
Canada | XX% |
UK | XX% |
Australia | XX% |
Saudi Arabia | XX% |
Brazil | XX% |
Mexico | XX% |
Based on region, the market is divided into North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa. Over the forecast period, the Asia Pacific is expected to remain one of the leading regions, as the demand for dairy products and meat records maintains steady growth in the region. Increasing disposable incomes also facilitate the demand for healthy and nutritious food options in the region.
Market Share by | Country |
USA | 26% |
Canada | XX% |
UK | XX% |
Germany | XX% |
The report provides a detailed analysis of the following key players in the market, covering their competitive landscape and latest developments like mergers and acquisitions, investments, and capacity expansion.
Increasing investment into the research and development of innovative aquafeed ingredients are expected to bolster the market growth in the forecast period.
REPORT FEATURES | DETAILS |
Base Year | 2023 |
Historical Period | 2018-2023 |
Forecast Period | 2024-2032 |
Scope of the Report |
Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment:
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Breakup by Type |
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Breakup by Livestock |
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Breakup by Raw Material |
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Breakup by Region |
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Market Dynamics |
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Competitive Landscape |
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Companies Covered |
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*While we strive to always give you current and accurate information, the numbers depicted on the website are indicative and may differ from the actual numbers in the main report. At Expert Market Research, we aim to bring you the latest insights and trends in the market. Using our analyses and forecasts, stakeholders can understand the market dynamics, navigate challenges, and capitalize on opportunities to make data-driven strategic decisions.
1 Preface
2 Report Coverage – Key Segmentation and Scope
3 Report Description
3.1 Market Definition and Outlook
3.2 Properties and Applications
3.3 Market Analysis
3.4 Key Players
4 Key Assumptions
5 Executive Summary
5.1 Overview
5.2 Key Drivers
5.3 Key Developments
5.4 Competitive Structure
5.5 Key Industrial Trends
6 Market Snapshot
6.1 Global
6.2 Regional
7 Opportunities and Challenges in the Market
8 Global Animal Feed Market Analysis
8.1 Key Industry Highlights
8.2 Global Animal Feed Historical Market (2018-2023)
8.3 Global Animal Feed Market Forecast (2024-2032)
8.4 Global Animal Feed Market by Type
8.4.1 Fodder and Forage
8.4.1.1 Historical Trend (2018-2023)
8.4.1.2 Forecast Trend (2024-2032)
8.4.2 Compound Feed
8.4.2.1 Historical Trend (2018-2023)
8.4.2.2 Forecast Trend (2024-2032)
8.5 Global Animal Feed Market by Livestock
8.5.1 Pork
8.5.1.1 Historical Trend (2018-2023)
8.5.1.2 Forecast Trend (2024-2032)
8.5.2 Aquatic Animal
8.5.2.1 Historical Trend (2018-2023)
8.5.2.2 Forecast Trend (2024-2032)
8.5.3 Cattle
8.5.3.1 Historical Trend (2018-2023)
8.5.3.2 Forecast Trend (2024-2032)
8.5.4 Poultry
8.5.4.1 Historical Trend (2018-2023)
8.5.4.2 Forecast Trend (2024-2032)
8.5.5 Others
8.6 Global Animal Feed Market by Raw Material
8.6.1 Soy
8.6.1.1 Historical Trend (2018-2023)
8.6.1.2 Forecast Trend (2024-2032)
8.6.2 Corn
8.6.2.1 Historical Trend (2018-2023)
8.6.2.2 Forecast Trend (2024-2032)
8.6.3 Others
8.7 Global Animal Feed Market by Region
8.7.1 North America
8.7.1.1 Historical Trend (2018-2023)
8.7.1.2 Forecast Trend (2024-2032)
8.7.2 Europe
8.7.2.1 Historical Trend (2018-2023)
8.7.2.2 Forecast Trend (2024-2032)
8.7.3 Asia Pacific
8.7.3.1 Historical Trend (2018-2023)
8.7.3.2 Forecast Trend (2024-2032)
8.7.4 Latin America
8.7.4.1 Historical Trend (2018-2023)
8.7.4.2 Forecast Trend (2024-2032)
8.7.5 Middle East and Africa
8.7.5.1 Historical Trend (2018-2023)
8.7.5.2 Forecast Trend (2024-2032)
9 North America Animal Feed Market Analysis
9.1 United States of America
9.1.1 Historical Trend (2018-2023)
9.1.2 Forecast Trend (2024-2032)
9.2 Canada
9.2.1 Historical Trend (2018-2023)
9.2.2 Forecast Trend (2024-2032)
10 Europe Animal Feed Market Analysis
10.1 United Kingdom
10.1.1 Historical Trend (2018-2023)
10.1.2 Forecast Trend (2024-2032)
10.2 Germany
10.2.1 Historical Trend (2018-2023)
10.2.2 Forecast Trend (2024-2032)
10.3 France
10.3.1 Historical Trend (2018-2023)
10.3.2 Forecast Trend (2024-2032)
10.4 Italy
10.4.1 Historical Trend (2018-2023)
10.4.2 Forecast Trend (2024-2032)
10.5 Others
11 Asia Pacific Animal Feed Market Analysis
11.1 China
11.1.1 Historical Trend (2018-2023)
11.1.2 Forecast Trend (2024-2032)
11.2 Japan
11.2.1 Historical Trend (2018-2023)
11.2.2 Forecast Trend (2024-2032)
11.3 India
11.3.1 Historical Trend (2018-2023)
11.3.2 Forecast Trend (2024-2032)
11.4 ASEAN
11.4.1 Historical Trend (2018-2023)
11.4.2 Forecast Trend (2024-2032)
11.5 Australia
11.5.1 Historical Trend (2018-2023)
11.5.2 Forecast Trend (2024-2032)
11.6 Others
12 Latin America Animal Feed Market Analysis
12.1 Brazil
12.1.1 Historical Trend (2018-2023)
12.1.2 Forecast Trend (2024-2032)
12.2 Argentina
12.2.1 Historical Trend (2018-2023)
12.2.2 Forecast Trend (2024-2032)
12.3 Mexico
12.3.1 Historical Trend (2018-2023)
12.3.2 Forecast Trend (2024-2032)
12.4 Others
13 Middle East and Africa Animal Feed Market Analysis
13.1 Saudi Arabia
13.1.1 Historical Trend (2018-2023)
13.1.2 Forecast Trend (2024-2032)
13.2 United Arab Emirates
13.2.1 Historical Trend (2018-2023)
13.2.2 Forecast Trend (2024-2032)
13.3 Nigeria
13.3.1 Historical Trend (2018-2023)
13.3.2 Forecast Trend (2024-2032)
13.4 South Africa
13.4.1 Historical Trend (2018-2023)
13.4.2 Forecast Trend (2024-2032)
13.5 Others
14 Market Dynamics
14.1 SWOT Analysis
14.1.1 Strengths
14.1.2 Weaknesses
14.1.3 Opportunities
14.1.4 Threats
14.2 Porter’s Five Forces Analysis
14.2.1 Supplier’s Power
14.2.2 Buyer’s Power
14.2.3 Threat of New Entrants
14.2.4 Degree of Rivalry
14.2.5 Threat of Substitutes
14.3 Key Indicators for Demand
14.4 Key Indicators for Price
15 Competitive Landscape
15.1 Market Structure
15.2 Company Profiles
15.2.1 Alltech Inc.
15.2.1.1 Company Overview
15.2.1.2 Product Portfolio
15.2.1.3 Demographic Reach and Achievements
15.2.1.4 Certifications
15.2.2 Archer-Daniels-Midland Company
15.2.2.1 Company Overview
15.2.2.2 Product Portfolio
15.2.2.3 Demographic Reach and Achievements
15.2.2.4 Certifications
15.2.3 Cargill, Incorporated
15.2.3.1 Company Overview
15.2.3.2 Product Portfolio
15.2.3.3 Demographic Reach and Achievements
15.2.3.4 Certifications
15.2.4 Nutreco N.V.
15.2.4.1 Company Overview
15.2.4.2 Product Portfolio
15.2.4.3 Demographic Reach and Achievements
15.2.4.4 Certifications
15.2.5 Land O’Lakes, Inc.
15.2.5.1 Company Overview
15.2.5.2 Product Portfolio
15.2.5.3 Demographic Reach and Achievements
15.2.5.4 Certifications
15.2.6 Charoen Pokphand Foods PCL
15.2.6.1 Company Overview
15.2.6.2 Product Portfolio
15.2.6.3 Demographic Reach and Achievements
15.2.6.4 Certifications
15.2.7 FEED ONE CO., LTD.
15.2.7.1 Company Overview
15.2.7.2 Product Portfolio
15.2.7.3 Demographic Reach and Achievements
15.2.7.4 Certifications
15.2.8 BRF S.A.
15.2.8.1 Company Overview
15.2.8.2 Product Portfolio
15.2.8.3 Demographic Reach and Achievements
15.2.8.4 Certifications
15.2.9 Kent Nutrition Group
15.2.9.1 Company Overview
15.2.9.2 Product Portfolio
15.2.9.3 Demographic Reach and Achievements
15.2.9.4 Certifications
15.2.10 ForFarmers N.V.
15.2.10.1 Company Overview
15.2.10.2 Product Portfolio
15.2.10.3 Demographic Reach and Achievements
15.2.10.4 Certifications
15.2.11 Others
16 Key Trends and Developments in the Market
List of Key Figures and Tables
1. Global Animal Feed Market: Key Industry Highlights (USD Billion), 2018 and 2032
2. Global Animal Feed Market: Key Industry Highlights (Billion Tons), 2018 and 2032
3. Global Animal Feed Historical Market: Breakup by Type (USD Billion), 2018-2023
4. Global Animal Feed Market Forecast: Breakup by Type (USD Billion), 2024-2032
5. Global Animal Feed Historical Market: Breakup by Type (Billion Tons), 2018-2023
6. Global Animal Feed Market Forecast: Breakup by Type (Billion Tons), 2024-2032
7. Global Animal Feed Historical Market: Breakup by Livestock (USD Billion), 2018-2023
8. Global Animal Feed Market Forecast: Breakup by Livestock (USD Billion), 2024-2032
9. Global Animal Feed Historical Market: Breakup by Livestock (Billion Tons), 2018-2023
10. Global Animal Feed Market Forecast: Breakup by Livestock (Billion Tons), 2024-2032
11. Global Animal Feed Historical Market: Breakup by Raw Material (USD Billion), 2018-2023
12. Global Animal Feed Market Forecast: Breakup by Raw Material (USD Billion), 2024-2032
13. Global Animal Feed Historical Market: Breakup by Raw Material (Billion Tons), 2018-2023
14. Global Animal Feed Market Forecast: Breakup by Raw Material (Billion Tons), 2024-2032
15. Global Animal Feed Historical Market: Breakup by Region (USD Billion), 2018-2023
16. Global Animal Feed Market Forecast: Breakup by Region (USD Billion), 2024-2032
17. Global Animal Feed Historical Market: Breakup by Region (Billion Tons), 2018-2023
18. Global Animal Feed Market Forecast: Breakup by Region (Billion Tons), 2024-2032
19. North America Animal Feed Historical Market: Breakup by Country (USD Billion), 2018-2023
20. North America Animal Feed Market Forecast: Breakup by Country (USD Billion), 2024-2032
21. North America Animal Feed Historical Market: Breakup by Country (Billion Tons), 2018-2023
22. North America Animal Feed Market Forecast: Breakup by Country (Billion Tons), 2024-2032
23. Europe Animal Feed Historical Market: Breakup by Country (USD Billion), 2018-2023
24. Europe Animal Feed Market Forecast: Breakup by Country (USD Billion), 2024-2032
25. Europe Animal Feed Historical Market: Breakup by Country (Billion Tons), 2018-2023
26. Europe Animal Feed Market Forecast: Breakup by Country (Billion Tons), 2024-2032
27. Asia Pacific Animal Feed Historical Market: Breakup by Country (USD Billion), 2018-2023
28. Asia Pacific Animal Feed Market Forecast: Breakup by Country (USD Billion), 2024-2032
29. Asia Pacific Animal Feed Historical Market: Breakup by Country (Billion Tons), 2018-2023
30. Asia Pacific Animal Feed Market Forecast: Breakup by Country (Billion Tons), 2024-2032
31. Latin America Animal Feed Historical Market: Breakup by Country (USD Billion), 2018-2023
32. Latin America Animal Feed Market Forecast: Breakup by Country (USD Billion), 2024-2032
33. Latin America Animal Feed Historical Market: Breakup by Country (Billion Tons), 2018-2023
34. Latin America Animal Feed Market Forecast: Breakup by Country (Billion Tons), 2024-2032
35. Middle East and Africa Animal Feed Historical Market: Breakup by Country (USD Billion), 2018-2023
36. Middle East and Africa Animal Feed Market Forecast: Breakup by Country (USD Billion), 2024-2032
37. Middle East and Africa Animal Feed Historical Market: Breakup by Country (Billion Tons), 2018-2023
38. Middle East and Africa Animal Feed Market Forecast: Breakup by Country (Billion Tons), 2024-2032
39. Global Animal Feed Market Structure
The market was valued at nearly USD 559.37 billion in 2023.
The market is projected to grow at a CAGR of 4.1% between 2024 and 2032.
The market is assessed to witness a healthy growth in the forecast period to reach around USD 803.07 billion in 2032.
The different raw materials used in animal feed include soy and corn, among others.
The major segments based on livestock in the market include pork, aquatic animal, cattle, and poultry, among others.
The different types of feed in the market include fodder and forage and compound feed.
The major regions covered in the market report are North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.
The key market players are Alltech Inc., Archer-Daniels-Midland Company, Cargill, Incorporated, Nutreco N.V., Land O’Lakes, Inc., Charoen Pokphand Foods PCL, FEED ONE CO., LTD., BRF S.A., Kent Nutrition Group, and ForFarmers N.V., among others.
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