According to the research analysis report on the Compound Feed Market Size is anticipated to reach USD 709.65 Billion by 2030, registering a CAGR of 4.85% during 2022-2030
Compound feed is created by combining multiple source ingredients and additives. The mixtures are formed or generated for the specific animal and come in the shape of pellets. The main substances utilised in the manufacturing of animal compounds are corn, oats, and soy. In the raw feed chain, compound feed is very important. It contributes to the protection of the food supply as well as the quality of all aquatic and livestock productions, as well as the supply chain. This food is prepared to give appropriate nutrition and promote the health of cattle and animals. There are various benefits of using compound foods, including greater cost-effective nutrition, nutritive food quality, and high-grade meat products. It also increases food quality, which has various health benefits for animals.
The growing demand for meat, dairy, and other aquaculture products on a global level is a prominent growth factor that is driving the compound feed market size forward. Furthermore, the rise in demand for organic food, as well as the improved performance of the organised cattle economic sector, is propelling the market growth. Furthermore, an increase in livestock supply is another driver fueling global market expansion, which can be another reason projected to cause global market growth in the forecasting period. One of the primary issues inhibiting the global composites market's growth is strict regulations of government. In the forecast period, the increased adoption of flexible feeds will create profitable commercial prospects for global suppliers and manufacturers.
As per the latest compound feed market report, the market is globally segmented by ingredients and supplements. The ingredients market segment is further subsegments into cereals, cereal by-products, oilseed meal, oils, molasses, supplements and others. The supplements segment is again segregated into Vitamins, antibiotics, antioxidants, enzymes, amino acids, acidifiers, and others.
The regional segmentation of the global compound feed market overview is classified as North America, Asia-Pacific, Europe, Africa, the Middle East, South and Central America, and others. Due to increased demand for meat products in recent years, Europe has dominated the worldwide market, followed by North America. During the forecast period, these geographical marketplaces are expected to show a similar growth pattern.
- In October 2021, BASF and Cargill announced their joined collaboration and expanded their relationship in the animal nutrition business, adding research and development capabilities as well as new markets to the partners' current feed enzymes distribution agreements. They intend to work together to create, manufacture, market and sell customer-centric enzyme products and solutions. Farmers will be introduced to feed innovations that reduce nutrient waste, increase feed efficiency, and boost animal development and well-being.
- In May 2021, Altech introduced a new line of Lifeforce TM along with premium equine supplements to the market. The supplements are supported by 40 years of scientific research, and the formula is designed with proven technologies. It is made to meet the specific needs of modern horses throughout their lives and from performance to recreation.
- Nutrition N.V
- BIOMIN Holding GmbH
- Novus International Inc.
- BASF SE
- Addcon Group GmbH
- Kemin Industries Inc.
- Adisseo France S.A.S
- Elanco Animal Health Inc.
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