The global compound feed market is highly dynamic and competitive in nature. The presence of several emerging and well-established market players is expected to drive the growth of the compound feed market. Emerging awareness regarding the nutritional benefits of dietary fibre, minerals, omega-3 fatty acids, and carotenoids, in nutrition, is the primary factor responsible for driving the growth of the compound feed market. All these factors are expected to drive the demand for compound feed across the world, thereby strengthening the market growth.
Furthermore, it is estimated that the number of households with animals are expected to increase considerably in the future. This factor can benefit the growth of the compound feed market. The growth of the compound feed market can be analyzed based on the latest market trends, potential challenges, influential factors, and product demand and supply rates. The market is expected to grow at a CAGR of 4.02% which is a significant leap forward.
Analysts also predict that the market will reach US$539.9 billion value by 2023. However, growing concern regarding the toxic effects of particular synthetic compound feed and consistent decline in the usage of antibiotics, have encouraged the compound feed manufacturers to focus on enhancing the usage of natural and organic compound feed ingredients. This factor is further projected to drive the demand for natural/organic compound feed ingredients during the forecast period.
The compound feed market is highly dynamic. Market players across several regions are working on improving their R&D practices in a bid to innovate and launch new products, which further enhances the development pace of the market. The global compound feed market report segments the market on the basis of supplement, ingredient, and livestock. Based on ingredients, the global compound feed can be classified into cereal by-products, cereals, oilseed meal, molasses, oils, supplements, and others. Primary supplement areas that are expected to boost the demand for compound feed include antibiotics, vitamins, antioxidants, enzymes, amino acids, acidifiers, and others. Also, the market has been segmented into livestock category which covers swine, poultry, ruminants, aquaculture, and others.
The regional analysis for the global compound feed market is performed based on regional market trends, scenarios, impactful market driving factors, and potential challenges. North America, Europe, Asia Pacific, and the MEA region are the primary markets that are expected to contribute to the growth of the compound feed market. Countries such as the United States and China have a balanced demand-supply circumstance in the compound feed products industry, owing to which favourable developments in manufacturing procedure and ingredient quality are expected to be witnessed by the compound feed manufacturing companies operating in these regional markets. Chinese compound feed ingredients manufacturers have consolidated at a faster pace compared to the other emerging countries in the world, in terms of acquisitions and business integrations. North America and the Asia Pacific are two prominent consumers and manufacturers of compound feed.
Food Safe Technologies has recently launched an exotic range of novel and cost-effective animal feed ingredients which are extremely valuable for maintaining the desired nutrition level in animals and ensuring their proper health. The brand offers optimum-quality natural antioxidants for manufacturing animal feeds. The organization's new brand of organic antioxidants provides the animal feed manufacturers with an incredible range of antioxidant improvident.
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