Globally, there is an increase in the need for food additives to improve the nutritional value of goods made from animal feed.
According to research from Future Market Insights, the global swine feed market will grow at a CAGR of 4.4% during the anticipated time frame. The market's value is predicted to increase from USD 126.6 billion in 2022 to USD 178.6 billion in 2032.
Globally, there is an increase in the need for food additives to improve the nutritional value of goods made from animal feed. As a result, more animal husbandry branches, particularly pig farming, have adopted upgraded feed. The increase in worldwide pork consumption is anticipated to have a considerable impact on swine feed production. The demand for nutritious and useful swine feed is expected to rise in the worldwide swine husbandry industry in order to prevent the spread of epidemic diseases brought on by inadequate nutrition.
Additionally, consumers are pressuring pig farmers to utilise swine feed products that protect the pigs against enzootic diseases as a result of growing consumer awareness about the health of pigs.
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Global Swine Feed Market: Growth Drivers
The global market for swine feed will continue to grow, owing to the global trend of maintaining the optimum health of domesticated meat animals such as pigs. Providing better swine feed for pig husbandry ensures the health of the consumer eating the pork meat, creating an indirect impact of the health of the global pork-eating human population. Besides this, the other key factors driving the growth of the global swine feed market include,
Pork is one of the most-consumed meat in the world, and its culinary experimentations have resulted in the rise in demand for quality pork, which can be harvested only through the feeding quality swine food to the pigs.
The growing consumption of pork is inflating the prices of pork. This has benefitted the pig farmers in earning more income, which has supplemented the adoption of quality swine feed.
The rising incidences of disease outbreak due to consumption of infected pork meat has influenced the demand for enhanced swine feed that optimises the health of pigs.
Asia Pacific: A Leading Key Region for Swine Feed
The global market for swine feed is geographically segmented into seven key regions of the world. Among them, China will continue to have the highest concentration of pig population. The demand for swine feed is anticipated to be relatively high in Vietnam, Philippines and Thailand, among other Asia Pacific countries. Europe and North America are expected to continue being the leading regions in terms of pork consumption. The US is expected to be one of the key regions favouring the growth in the number of swine feed producers and manufacturers.
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Competitive Landscape
To improve the feed production, the swine feed manufacturers are expanding the business by introducing key nutritional elements from corn and soybean into the swine meal. The key companies identifies as the leading competitors of the global swine feed market include, Chr Hansen, Royal DSM Holdings Limited, Lallemand Inc., BASF Limited, Novus International Inc., Kent foods, Archer Daniels Midland Company, Cargill Inc., ABF Plc., and Alltech Inc., among others.
The Report covers exhaustive analysis on:
Regional analysis for Global Swine Feed Market includes
The report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, inputs from industry experts and industry participants across the value chain. The report provides in-depth analysis of parent market trends, macro-economic indicators and governing factors along with market attractiveness as per segments. The report also maps the qualitative impact of various market factors on market segments and geographies.
Global Swine Feed Market: Segmentation
Apart from the geographical classification, the global swine feed market is further segmented on the basis of fodder classifications, the types of feed additives and the elemental essence of the swine feed.
Based on the fodder classifications, the market can be segmented into,
On the basis of the feed additive types, the market is classified into,
Furthermore, the market is also segmented on the basis of the feed essence such as,
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Report Highlights:
Future Market Insights, Inc. is an ESOMAR-certified business consulting & market research firm, a member of the Greater New York Chamber of Commerce and is headquartered in Delaware, USA.
Jan 27, 2023
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