Animal Feed Market is Estimated to Reach the Value of $751.24 Billion by 2031, Accompanied by Demand for Animal Products

WESTFORD, MASSACHUSETTS, UNITED STATES, August 16, 2024 /EINPresswire.com/ -- 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).

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Animal feed is a vital source of nutrients for animals. The market value of animal feed has increased significantly with rising rates of consumption of meat, dairy, and poultry products. This development is a result of the increased production of commercial livestock brought about by the rising demand for animal-derived proteins such as milk, meat, and eggs. In addition, people's growing health consciousness is fueling the demand for aqua, swine, cattle, and poultry, all of which are contributing to the product market's rise. Effects of feed ingredients are predicted to change according to the source they are from and how they are processed. Thus, consumers are becoming aware about the feed supply chain. The increasing environmental impact of the cattle industry has drawn the attention of legislators and merchants. As a result, feed producers, including farmers, strive to keep their products' environmental impact to a minimum while keeping feed prices for finished protein as low as is practical.

Animal Feed Market Top Players' Company Profiles

• BASF SE (Germany)
• Cargill, Inc. (US)
• Archer Daniels Midland Company (US)
• DuPont de Nemours, Inc. (US)
• Evonik Industries AG (Germany)
• Nutreco N.V. (Netherlands)
• DSM Nutritional Products AG (Switzerland)
• Adisseo France SAS (France)
• Land O Lakes Purina (US)
• Kemin Industries, Inc. (US)
• Ingevity Corporation (US)
• Alltech, Inc. (US)
• Biovet JSC (Russia)
• BIOMIN GmbH (Austria)

Nutreco Integrates Nutrimin to Enhance Animal Nutrition Solutions
In December 2021, the largest Danish producer of farm minerals, concentrates, and piglet feed, Nutrimin (Denmark), was acquired by Nutreco NV (Netherlands). Nutrimin will now be a part of Trouw Nutrition, Nutreco's animal division. This agreement will enable Trouw to expand its footprint on Danish farms in Russia and Eastern Europe. It is anticipated that Nutreco's acquisition of Nutrimin will have several strategic advantages. The specialist solutions from Nutrimin in farm minerals and concentrates satisfy the distinct nutritional requirements of livestock, particularly in pig farming, and thereby enhance Trouw Nutrition's product portfolio. Trouw Nutrition is now better equipped to compete in the market by offering comprehensive solutions that optimize the growth, health, and productivity of animals.

The following are the key Animal Feed Trends that will shape the growth of the market in the next 5 years

De Heus's Acquisition of Golpasz Production Facility
In July 2020, Dutch feed company De Heus Animal Nutrition and Polish feed manufacturer Golpasz signed an agreement. This agreement was to acquire Golpasz's Polish production facilities. The acquisition of Golpasz's production facility increases De Heus's operational flexibility and manufacturing capacity in Poland, an important EU market for agricultural products. De Heus has gained access to advanced manufacturing technology and increased production capacity. This is possible through the integration of Golpasz's production facility into its network. This makes it possible for De Heus to more effectively and scalable meet the market's growing expectations.

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AI-Driven Precision Farming and Sustainable Protein Solutions
Cargill is about to launch an advanced feed formulation system driven by AI. It is anticipated that this breakthrough would improve precision nutrition for animals. In addition, it optimizes feed compositions that are customized for specific animals or herds. This can be achieved by enhancing database analysis on animal health, dietary needs, and environmental conditions.

Kemin Industries, a leader in animal nutrition and health solutions, has introduced a new feed additive. This additive is free of microbes and intended to promote the intestinal health of pigs. This addition enhances the microbial balance in the gastrointestinal tract because Kemin's proprietary technology was employed in its creation. It is done without the need for traditional antibiotics.

A new plant-based protein feed supplement for hens was introduced by Perdue Farms. This supplement, which was created in partnership with nutritionists and agricultural specialists, provides a sustainable substitute for conventional protein sources. The plant-based protein feed additive increases growth, boosts immunity, and enhances the quality of the meat produced by the birds.

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Final Verdict
The global need for animal feed is being driven by rise in the popularity of high-protein diets. The growing need for animal proteins indicates that feed will become more important in the future. Furthermore, feed is essential to the long-term viability of animal agriculture. As a result, raising the availability of animal protein would boost feed output, which is necessary for long-term animal husbandry.

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