Insights Into The Animal Food Market’s Growth Opportunities Through 2023-2032 – Includes Animal Food Market Report
The Business Research Company’s global market reports are now updated with the latest market sizing information for the year 2023 and forecasted to 2032
Increase investments in the end-user markets are expected to drive innovation in animal food manufacturing, thus driving the market during the forecast period.
The global animal food market is expected to grow from $299.68 billion in 2022 to $326.05 billion in 2023 at a compound annual growth rate (CAGR) of 8.8%. The animal food market is expected to grow to $439.39 billion in 2027 at a CAGR of 7.7%.
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Global Animal Food Global Market Segments Include:
- By Type: Poultry Feed, Cattle Feed, Aquaculture Feed, Other Animal Food
- By Distribution Channel: Supermarkets/Hypermarkets, Convenience Stores, E-Commerce, Other Distribution Channels
- By Ingredients: Cereal, Oilseed Meal, Supplements, Other Ingredients
- Subsegments Covered: Cereal, Oilseed Meal, Molasses, Fish Oil And Fish Meal, Supplements, Other Ingredients Prawn Feed, Fish Feed, Other Aqua Feed
- By Geography: The market is segmented into North America, South America, Asia-Pacific, Eastern Europe, Western Europe, Middle East and Africa. Among these regions, Asia Pacific is the largest region in the global animal food market in 2021.
Major Market Players in the animal food market include Cargill Incorporated, New Hope Liuhe Co. Ltd., Charoen Pokphand Foods PCL, Bunge Limited, Mitsui, CJ Cheiljedang Corp, Land O’Lakes Inc.
Growing awareness among cattle farmers and pet owners about the advantages of probiotics for animal health is leading to the increased use of probiotics in animal feed for farm animals like cattle, horses, ruminants, and poultry. The increasing advancements in molecular biology and gene sequencing are allowing researchers to dig deep to find new probiotic applications for animals, in feed, and consumer packaged health products. The significant rise in the adoption of probiotics in animal feed for farm animals has shown beneficial results in terms of animal performance, digestion, and the immune system. For instance, the a US-based company, Bactana Animal Health, has completed its first round of funding for developing a novel bacterial stain of Faecalibacterium prausnitzii for commercial livestock usage.
The Animal Food Global Market Report 2023 provides a animal food market overview for the time series: historic years (2010 – 2021) and ten years forecast (2023 – 2032). The animal food market forecast analyzes animal food market size, animal food market share, leading competitor market positions. The regions covered in the report include Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa and the countries include Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
Animal food is a type of feed for domestic animals.
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