Animal Feed Market was valued at USD 551.21 billion in 2022 and is expected to rise from USD 570.5 billion in 2023 to reach a value of USD 751.24 billion by 2031, at a CAGR of 3.50% during the forecast period (2024–2031).
The global animal feed market is transforming at a notable pace due to the changing demands of consumers, shifting choices, innovative advances, and regulatory changes. In the coming years, animal feed will experience a significant increase in the production of food derived from animals and plants. Moreover, at present, pet food and animal feed are highly impacted by the rising demand for legally sourced and sustainable ingredients, and the trend is expected to continue in the coming years as well.
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Among others, the two major trends seen in the animal feed market include functional feeds and enhancing compound feeds for phosphorus and nitrogen. The supplementary pre-mixes or the feeds do not target delivering major nutrients and energy but are aimed at supporting with special ingredients. These comprise enzymes and amino acids, polyphenolic acids, or oligo- or polysaccharides that enhance metabolism, promote immune system and intestinal function, and ultimately animal health. Hence, functional or complementary feeds are increasingly preferred as they help reduce the number of antibiotics applied to livestock. The objective of nutrition is to balance ratios to the animal’s real needs to maintain the functions of the body for milk, egg production, or meat. Protein supplementation usually surpasses nutritional levels because of the growing protein needs of animals. Same is the case with phosphorus, where the available amount in feed from a certain source can be different so that there will be more, or it could be in a type that is badly used by the animal and quickly excreted.
Rising Focus of Feed Companies on Alternative Protein Sources
Presently, feed producers across the globe are concentrating on maintaining the quality of feed. But, owing to logistics and market disturbances and increasing prices of a few common ingredients of feed, they must be more flexible in using substitute raw materials to prepare whole feed for animals. Most of the products could contain variable nutritional value, marked by usually less energy and top fibre quantity in comparison to the traditional feeds. Simultaneously, the threat of mycotoxin pollution of raw materials grows because of weather changing patterns. The use of near infrared (NIR) spectroscopy helps obtain accurate nutritional value and formulate feed that are near to satisfy animal nutritional needs. More improved mycotoxin analytical machinery helps in testing multiple mycotoxins simultaneously. In the coming years, feed analysis and incoming batches sampling will become important, resulting in different sampling protocols or frequent sampling.
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- In February 2024, CP Foods introduced a discount program on different animal feed consumables to reduce the financial burden, offering a major 30-baht decrease per bag to the producers in the second half of 2023. Focusing on this effort, CP foods will launch an additional discount in 2024, mainly for broiler chicken producers.
- In January 2023, BASF and Cargill declared an extended alliance to prepare and supply enzyme-based systems for animal feed in the U.S. With this partnership will combine market range and application proficiency of Cargill and enzyme R&D of BASF company.
- In May 2024, Nestlé Purina spend nearly Swiss Franc 200 million to enhance pet food operations in the Silao, Mexico. This will be an addition to the 4th pet food (dry) portfolio and 3rd pet food (wet) portfolio, making Nestlé the biggest pet food supplier.
- In July 2024, Muyuan Foods and TopigsNorsvin to join hands to inaugurate a center farm near Wuwei in China’s province of Gansu. This high-health farm will comprise 1200 sows and will accommodate terminal and maternal sire lines.
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Adopting Current Trends to Help Stakeholders to Promise a Sustainable Animal Agriculture Industry
The animal nutrition sector is seeing adramatic shift supported by constantly changing demands of consumers, changes in regulations, and technological improvements. Embracing trends like ethical feed sourcing and sustainability, enhanced efficiency of feed, and digitalization will be vital for stakeholders to flourish animal nutrition domain in the coming years. They can also drive innovation, enhance animal health and overall wellness, and participate in a more responsible and sustainable animal agriculture sector.
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