Compound Feed Market Size
| Study Period | 2019 - 2029 |
| Market Size (2024) | USD 462.86 Billion |
| Market Size (2029) | USD 576.82 Billion |
| CAGR (2024 - 2029) | 4.50 % |
| Fastest Growing Market | South America |
| Largest Market | Asia Pacific |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Need a report that reflects how COVID-19 has impacted this market and its growth?
Compound Feed Market Analysis
The Compound Feed Market size is estimated at USD 462.86 billion in 2024, and is expected to reach USD 576.82 billion by 2029, growing at a CAGR of 4.5% during the forecast period (2024-2029).
The increased demand for compound feed across the world is highly hampered by the COVID-19 pandemic, resulting in supply chain disruption restricting the product trade. With the loosening of situations, the disruption is anticipated to dissolve, facilitating the product trade.
The consumption of meat has been rising steadily across the world. The increasing population, urbanization, demographics, incomes, prices, and environmental and health concerns are key factors that influence the level and type of meat consumption. This is enhancing the demand for the compound feed market. According to the FAO, the growth in global consumption of meat proteins over the next period is estimated to increase by 14% by 2030, compared to 2018-2020, propelled largely by population growth and income. Thus, the demand for compound feed is likely to increase owing to the surge in meat consumption and the huge demand for animal protein.
Asia-Pacific accounts for a major share in the market, owing to the increased livestock population in the region. This is prompted by the growing demand for meat and aquaculture products, which is the major driving force behind the growth of the compound feed market. Increased awareness regarding quality meat, milk, and other dairy-related products and increased livestock production are two other factors augmenting the market's growth. The growth of the feed industry in China has led global compound feed players like Archer Daniels Midland and Cargill to expand and open their new facilities in China. The Zhangzhou feed factory of Archer Daniels Midland Company in China is the fourth compound production facility of the company, which has an annual capacity of 30,000 metric tonne of feed premixes and 80,000 metric tonne of complete feed and concentrates. Cargill has invested in a new premix facility in China to continue growing its feed presence in the region.
Compound Feed Market Trends
This section covers the major market trends shaping the Compound Feed Market according to our research experts:
Growing Demand for Seafood and Meat Products
The worldwide economic downturn has had a very limited effect on the global meat market, which has maintained its positive outlook. The highest growth in meat consumption is expected from the Asia-Pacific and South American regions because of changing diet patterns, urbanization, population, and economic growth. For example, according to Agriculture and Agri-food Canada, the Chinese demand for meat continues to surpass the domestic supply. In 2020, the global production of goat meat was 16,027.6 thousand metric ton, an increase of 5.7% from 2017. This depicts the growing demand for meat. Fish are low in fats, cholesterol, and carbohydrates.
Although not very high in protein, fish also provides essential vitamins and amino acids. The demand for seafood is increasing rapidly as more people are becoming aware of the health benefits of fish consumption. Globally increasing population trends are also supporting the growth of the global meat and seafood market. Increasing life expectancy and limited availability of land and water resources for animal feed production, and increasing use of these resources for food and ethanol production are increasing the demand for animal feed in the global meat industry.
Asia-Pacific Dominates the Market
The demand for meat protein is rising in the Asia-Pacific region, especially in China, India, Malaysia, and Thailand, with rapid economic growth. This increased demand for meat protein has triggered meat production in the region, where uptake of compound feed has increased and is expected to show a healthy growth rate. Apart from improving nutritional value, compound feed is gaining importance for its role in meat quality improvement. In 2019, the Indian commercial feed industry largely catered to the poultry sector at around 70.0-75.0%, followed by aquaculture at 10.0-12.0% and dairy cattle at 10.0-15.0%. India's commercial feed production was at nearly 39.0 million metric ton during the same period. Poultry feed garners the highest share in the country's feed production, accounting for nearly 24.9 million metric ton in 2019, followed by ruminants at 11.6 million metric ton, aquaculture at 2.3 million metric ton, and swine at 0.07 million metric ton. As the country holds a very minimal share of the swine population in the overall Asia-Pacific market, the African Swine Fever outbreak has not impacted the country's feed industry. According to the Food and Agricultural Organization statistics data, in 2018, the country held only 1.8% of the Asia-Pacific's swine population. Driven by the target to improve self-sufficiency, the region is moving toward the inclusion of alternate feed ingredients, such as feed-grade rice, in livestock feed production.
Compound Feed Industry Overview
The compound feed market is fragmented in nature with many small, medium, and big companies present at various levels - at national, international, and continental levels. Cargill Inc., New Hope Liuhe Co. Ltd, Guangdong Haid Group, Charoen Pokphand Foods, and Nutreco NV are the top five players in the market studied. Leading companies are focused on acquiring feed mills and small manufacturing for the expansion of the business in local and foreign markets. For instance, in June 2022, ADM has acquired a feed mill in Polomolok, South Cotabato, from South Sunrays Milling Corporation for providing a wide range of leading-edge products to meet Asia's demand for innovative and high-quality products in the animal nutrition market.
Some of the players have been expanding their geographical presence by acquiring or merging with the manufacturers in the foreign market. The leading companies are focused on expanding the business across regions and setting up new plants to increase production capacity and product lines. The companies are also increasing the production capacities of their existing plants.
Compound Feed Market Leaders
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Cargill Inc
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New Hope Liuhe Co. Ltd,
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Guangdong Haid Group
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Charoen Pokphand Foods
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Nutreco NV
*Disclaimer: Major Players sorted in no particular order
Compound Feed Market News
In January 2022, ADM opened an Aquaculture Innovation Lab at the Animal Nutrition Technology Center (ANTC) in Decatur, Illinois. The laboratory extends ADM's international research and development capabilities to a new region, building on existing aquaculture research facilities located in Brazil, Mexico, and Vietnam. The new facility expands global capabilities to develop novel nutrition solutions
In October 2021, BASF and Cargill expanded their partnership in the animal nutrition business, adding research and development capabilities and new markets to the partners' existing feed enzymes distribution agreements. Together, they plan to develop, produce, market, and sell customer-centric enzyme products and solutions. The goal is to bring farmers to feed innovations that reduce nutrient waste, improve feed efficiency, and promote animal growth and wellbeing.
In May 2021, Alltech recently introduced a new line of Lifeforce TM, premium equine supplements, to the market. Backed by more than 40 years of scientific research and formulated with field-proven technologies, these supplements have been created to meet the needs of modern horses throughout their lives, from performance to recreation.
Compound Feed Market Report - Table of Contents
1. INTRODUCTION
- 1.1 Study Assumptions and Market Definition
- 1.2 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET DYNAMICS
- 4.1 Market Overview
- 4.2 Market Drivers
- 4.3 Market Restraints
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4.4 Porter's Five Forces Analysis
- 4.4.1 Bargaining Power of Suppliers
- 4.4.2 Bargaining Power of Buyers
- 4.4.3 Threat of New Entrants
- 4.4.4 Threat of Substitutes
- 4.4.5 Intensity of Competitive Rivalry
5. MARKET SEGMENTATION
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5.1 Animal Type
- 5.1.1 Ruminants
- 5.1.2 Poultry
- 5.1.3 Swine
- 5.1.4 Aquaculture
- 5.1.5 Other Animal Types
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5.2 Ingredient
- 5.2.1 Cereals
- 5.2.2 Cakes and Meals
- 5.2.3 Byproducts
- 5.2.4 Supplements
- 5.2.4.1 Vitamins
- 5.2.4.2 Amino Acid
- 5.2.4.3 Enzymes
- 5.2.4.4 Prebiotics and Probiotics
- 5.2.4.5 Acidifiers
- 5.2.4.6 Other Supplements
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5.3 Geography
- 5.3.1 North America
- 5.3.1.1 United States
- 5.3.1.2 Canada
- 5.3.1.3 Mexico
- 5.3.1.4 Rest of North America
- 5.3.2 Europe
- 5.3.2.1 Spain
- 5.3.2.2 United Kingdom
- 5.3.2.3 France
- 5.3.2.4 Germany
- 5.3.2.5 Russia
- 5.3.2.6 Italy
- 5.3.2.7 Rest of Europe
- 5.3.3 Asia-Pacific
- 5.3.3.1 China
- 5.3.3.2 India
- 5.3.3.3 Japan
- 5.3.3.4 Thailand
- 5.3.3.5 Rest of Asia-Pacific
- 5.3.4 South America
- 5.3.4.1 Brazil
- 5.3.4.2 Argentina
- 5.3.4.3 Rest of South America
- 5.3.5 Africa
- 5.3.5.1 South Africa
- 5.3.5.2 Egypt
- 5.3.5.3 Rest of Africa
6. COMPETITIVE LANDSCAPE
- 6.1 Most Adopted Competitor Strategies
- 6.2 Market Share Analysis
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6.3 Company Profiles
- 6.3.1 Charoen Pokphand Foods
- 6.3.2 Cargill Inc.
- 6.3.3 Land O Lakes Purina
- 6.3.4 Alltech Inc.
- 6.3.5 Archer Daniels Midland
- 6.3.6 ForFarmers
- 6.3.7 DeKalb Feeds
- 6.3.8 Kent Feeds
- 6.3.9 Weston Milling Animal Nutrition
- 6.3.10 Nutreco NV
- *List Not Exhaustive
7. MARKET OPPORTUNITIES AND FUTURE TRENDS
8. AN ASSESSMENT OF THE IMPACT OF COVID-19 ON THE MARKET
Compound Feed Industry Segmentation
Compound feed is a mixture of raw materials and supplements fed to the livestock, sourced from either plant, animal, organic or inorganic substances, or industrial processing, whether or not containing additives. The compound feed market is segmented by animal type (ruminants, poultry, swine, aquaculture, and other animal types), ingredients (cereal, cakes and meals, by-products, and supplements (vitamins, amino acids, enzymes, acidifiers, probiotics and prebiotics, and other supplements)), and geography (North America, Europe, Asia-Pacific, South America, and Africa). The report offers market size and forecasts for compound feed in terms of value (USD million) and volume (thousand metric ton) for all the above segments.
| Animal Type | Ruminants | |
| Poultry | ||
| Swine | ||
| Aquaculture | ||
| Other Animal Types | ||
| Ingredient | Cereals | |
| Cakes and Meals | ||
| Byproducts | ||
| Supplements | Vitamins | |
| Amino Acid | ||
| Enzymes | ||
| Prebiotics and Probiotics | ||
| Acidifiers | ||
| Other Supplements | ||
| Geography | North America | United States |
| Canada | ||
| Mexico | ||
| Rest of North America | ||
| Geography | Europe | Spain |
| United Kingdom | ||
| France | ||
| Germany | ||
| Russia | ||
| Italy | ||
| Rest of Europe | ||
| Geography | Asia-Pacific | China |
| India | ||
| Japan | ||
| Thailand | ||
| Rest of Asia-Pacific | ||
| Geography | South America | Brazil |
| Argentina | ||
| Rest of South America | ||
| Geography | Africa | South Africa |
| Egypt | ||
| Rest of Africa |
Compound Feed Market Research FAQs
How big is the Compound Feed Market?
The Compound Feed Market size is expected to reach USD 462.86 billion in 2024 and grow at a CAGR of 4.5% to reach USD 576.82 billion by 2029.
What is the current Compound Feed Market size?
In 2024, the Compound Feed Market size is expected to reach USD 462.86 billion.
Who are the key players in Compound Feed Market?
Cargill Inc, New Hope Liuhe Co. Ltd,, Guangdong Haid Group, Charoen Pokphand Foods and Nutreco NV are the major companies operating in the Compound Feed Market.
Which is the fastest growing region in Compound Feed Market?
South America is estimated to grow at the highest CAGR over the forecast period (2024-2029).
Which region has the biggest share in Compound Feed Market?
In 2024, the Asia Pacific accounts for the largest market share in Compound Feed Market.
What years does this Compound Feed Market cover, and what was the market size in 2023?
In 2023, the Compound Feed Market size was estimated at USD 442.93 billion. The report covers the Compound Feed Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the Compound Feed Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.
Compound Feed Industry Report
Statistics for the 2024 Compound Feed market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. Compound Feed analysis includes a market forecast outlook to 2029 and historical overview. Get a sample of this industry analysis as a free report PDF download.
