The compound feed market is estimated at USD 541.2 billion in 2023 and is projected to reach USD 668.3 billion by 2028, at a CAGR of 4.3% from 2023 to 2028. The world’s population is steadily increasing, which leads to higher demand for food, including meat, dairy, and poultry products. Compound feed is an efficient way to provide essential nutrients to livestock and improve their growth and productivity. As standards of living improve in many developing countries, there is an increase in meat consumption. Livestock, such as poultry, pigs, and cattle, require compound feed for their optimal growth and production. This surge in meat consumption has led to a greater demand for compound feed. Compound feed is designed to optimize nutrient utilization and improve feed conversion efficiency in livestock. It allows for precise control of nutrient composition, ensuring that animals receive the necessary nutrients for their growth and development.
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Livestock continues to make an important contribution to the global food chain. It is seen that energy fluctuation and imbalance in the metabolic process can induce various diseases and hamper livestock performance. The major reasons include inappropriate nutrition, overeating, and lack of physical activity. Compound feed is a careful mix of ingredients that provide a proper blend of carbohydrates from cereals, fat and protein from oilseeds, and fiber, which is highly valuable in animal nutrition. Feeding good-quality feed to animals, which includes grains like corn and barley, changes the color of carcass fat from yellow to white, which increases the chance of obtaining higher-quality meat for commercial purposes. Additionally, the use of compound feed helps in obtaining high-quality milk, eggs, and dairy products and further helps in a good feed conversion ratio.
Intensive livestock production is booming in emerging countries; however, there are still vast areas where extensive livestock production, especially ruminants, is largely supported by grazed pastures. The only approach to minimize grassland degradation while maintaining the health of the animal is by reducing animal density. The low productivity of ruminants in developing countries is reflected by high mortality, the poor growth rate of young ones, delay in the onset of puberty, and long intervals between successive parturition, all of which are largely attributed to poor feed resources, feeding, and management. However, high mortality and inadequate milk production by nursing mothers affect the growth rate of those who survive. Therefore, economics strategists and government policies encourage livestock farmers to transform the extensive system of production into semi-intensive systems with additional imported feed inputs.
Poultry, especially chicken, is one of the most widely consumed meats globally. The demand for poultry products, such as meat and eggs, is consistently high due to factors like affordability, versatility, and nutritional value. Nutritional value is a significant driver of the demand for poultry products. The nutritional value of poultry meat, such as chicken, is a major factor driving the demand for these products. Poultry is recognized for being a rich source of high-quality protein, essential amino acids, vitamins, and minerals. With lower fat content compared to red meats, particularly when consumed without the skin, poultry products are often perceived as healthier options. Consumers who prioritize nutritious and balanced diets consider poultry as an important component, leading to a sustained demand for poultry products.
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The Asia Pacific region, comprising countries like China and India, holds 60% of the global population, amounting to around 4.3 billion people. This densely populated region has witnessed continuous population growth, resulting in an escalating demand for animal-derived products like meat, milk, and eggs. Consequently, there is an increased need for compound feed to sustain the growing demand for livestock and poultry production. As incomes rise and dietary preferences evolve, there is a notable shift towards greater consumption of animal protein, propelling the expansion of the livestock and poultry sectors and further driving the demand for compound feed.
Major key players operating in the compound feed market Cargill, Inc. (US), ADM (US), Charoen Pokphand Foods (Thailand), New Hope Group (China), Land O’Lakes (US), Nutreco N.V (Netherlands), Alltech, Inc. (US), Guangdong Haid Group Co., Ltd (China), Weston Milling Group (Australia), and Feed One Co. (Japan).