The swine feed market accounted for 141.1 billion in 2020 and is estimated to be US$ 165.4 billion by 2029 and is anticipated to register a CAGR of 4.2%.
The report “Global Swine Feed Market, By Type (Starter, Grower, and Sow), By Additive (Antibiotics, Vitamins, Antioxidants, Amino Acids, Feed Enzymes, and Feed Acidifiers), and By Region (North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa) – Trends, Analysis and Forecast till 2029”.
Key Highlights:
- In June 2019, Cargill has acquired Brazil-based swine feed manufacturer Beckers Indústria de Nutrição Animal Ltda. in an effort to expand its offerings across the swine nutrition sector in Brazil.
- In Jan 2020, Phibro Animal Health Corporation launched two new products: one to help swine producers reduce the moisture in swine feed and the other to help piglets stay dry and start strong.
- In Jan 2017, Neovia acquired Agranix a French company that manufactures boluses and premium dietary product for ruminants and horses. This acquisition will allow Neovia to strengthen its portfolio of its product and solutions, consolidating its position on the speciality nutrition market and compliments its expertise in supporting French farms.
Analyst View:
Increasing consumption of pork in developing economies
Increasing consumption of pork in developing economies, like China, India, and Brazil, is predicted to fuel the demand for the merchandise globally. North America is one among the main pork exporting regions and is predicted to drive the demand for the merchandise over the forecast period. According to FAO (Food and Agricultural Organization), 50% of the worldwide pig population is concentrated in China followed by the EU and U.S. Such trends show that these regions will remain the very best compound feed consumers for pork production. Pacific countries like Japan, Australia, Mexico, New Zealand, and North Korea are the main pork importers, whereas China, the U.S., Canada, the European countries, and Brazil are the main pork exporters.
Growing demand for quality pork
Pork is the most popular and widely consumed meat source worldwide, majorly in Europe and Southeast Asia. Pork is cheaper than other meat sources which may be a major factor for its high consumption. Additionally, its palatability, fat content and texture fascinate the buyer. An outsized middle-class population, growing income and changing consumer preference are levitating the pork demand. Pork production and consumption are very high within the developed regions, like North America and Europe and in developing countries like China and Japan.
Key Market Insights from the report:
The global swine feed market accounted for 141.1 billion in 2020 and is estimated to be US$ 165.4 billion by 2029 and is anticipated to register a CAGR of 4.2%. The market report has been segmented on the basis of type, additive and region.
- Depending upon type, the target market is segmented into starter, grower, and sow.
- Depending upon additive, the amino acid segment is projected to grow at highest CAGR over the forecast period owing to its benefits in pigs specially to absorb proteins, which is very essential in various body functions of living beings.
- By region, Asia Pacific accounted the largest market share over the forecast period. This is attributed to rising meat production and consumption in countries in the region such as China, India, Vietnam, Thailand, and South Korea.
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Competitive Landscape:
The prominent player operating in the global swine feed market includes CHR. Hansen Holdings A/S, Lallemand, Inc., Novus International Inc., Royal DSM N.V., BASF, Alltech Inc., ADM (Archer Daniels Midland Company), Charoen Popkhand Foods, ABF Plc (Associated British Food), and Cargill Inc.
The market provides detailed information regarding the industrial base, productivity, strengths, manufacturers, and recent trends which will help companies enlarge the businesses and promote financial growth. Furthermore, the report exhibits dynamic factors including segments, sub-segments, regional marketplaces, competition, dominant key players, and market forecasts. In addition, the market includes recent collaborations, mergers, acquisitions, and partnerships along with regulatory frameworks across different regions impacting the market trajectory. Recent technological advances and innovations influencing the global market are included in the report.
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