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Compound Feed Market Share

ID: MRFR//3941-CR | 118 Pages | Author: Sakshi Gupta| February 2021

Compound Feed Market share, companies adopt diverse strategies to secure and enhance their market share. Compound feed, a mixture of various ingredients formulated to meet the nutritional needs of livestock, is a crucial component in modern animal husbandry. To gain a strategic edge, companies often employ market positioning tactics that revolve around product differentiation, pricing strategies, strategic alliances, geographic expansion, and ongoing research and development efforts.

Product differentiation stands out as a key strategy in the Compound Feed Market. Companies strive to create unique formulations that cater to specific animal species, growth stages, or production purposes. By developing feeds with enhanced nutritional profiles, specialized additives, or focusing on organic and sustainable ingredients, companies aim to distinguish their products from competitors. Effective communication of these differentiators through marketing channels is essential for capturing the attention of discerning customers who prioritize specific nutritional requirements or sustainability practices.

Pricing strategies play a crucial role in market share positioning. Some companies opt for cost leadership, offering compound feeds at competitive prices to appeal to price-sensitive segments of the market. This approach can lead to increased market penetration and wider adoption among budget-conscious farmers. Conversely, other companies position themselves as premium providers, emphasizing the superior quality, traceability, and health benefits associated with their feeds. This premium pricing strategy targets customers who prioritize the overall well-being of their livestock, contributing to higher profit margins.

Strategic alliances and collaborations are instrumental in expanding market share in the Compound Feed Market. Companies often form partnerships with livestock farmers, feed distributors, or agricultural cooperatives to enhance their reach and distribution capabilities. By aligning with key players in the industry, companies can tap into established networks and gain access to a broader customer base. Additionally, collaborative efforts can lead to shared research and development initiatives, fostering innovation and ensuring the development of feeds that meet evolving industry standards.

Geographic expansion is another integral aspect of market share positioning. Companies analyze regional preferences, livestock farming practices, and regulatory landscapes to tailor their products to specific markets. Adapting feeds to local conditions and preferences enables companies to effectively meet the needs of diverse customer bases. Localized marketing strategies and understanding regional variations in demand contribute to successful market expansion efforts.

Ongoing research and development efforts are essential for maintaining a competitive edge in the Compound Feed Market. Companies invest in innovative formulations, production methods, and packaging to stay abreast of evolving industry trends and customer demands. Introducing novel products that address emerging challenges, such as antibiotic-free or genetically modified organism (GMO)-free feeds, helps companies stay ahead of the curve and reinforces their position as industry leaders.

In conclusion, the Compound Feed Market demands strategic and dynamic approaches for market share positioning. Companies navigate the competitive landscape by focusing on product differentiation, pricing strategies, forming strategic alliances, expanding geographically, and investing in continuous research and development. As the demand for high-quality and sustainable animal nutrition solutions continues to rise, companies must remain agile and innovative to secure and expand their market share in the Compound Feed Market.

Covered Aspects:

Report Attribute/Metric Details
Base Year For Estimation 2022
Forecast Period 2024-2032
Growth Rate 4.23% (2024-2032)

Compound Feed Market Overview


Compound feed market size was valued at USD 525.19  Billion in 2023. The compound feed industry is projected to grow from USD 550.661715  Billion in 2024 to USD 767.12 Billion by 2032, exhibiting a compound annual growth rate (CAGR) of 4.23 % during the forecast period (2024 - 2032). Increasing demand for quality meat and dairy products all over the globe, the growing rate of industrialization and rising focus on the advancements and enhancements in production techniques are the key market drivers enhancing the market growth.


 


Compound Feed Market1.jpg


Source: Secondary Research, Primary Research, MRFR Database and Analyst Review


Compound Feed Market Trends



  • Rising demand for sustainable feed is driving the market growth


Market CAGR for compound feed is being driven as consumers across the globe are highly concerned regarding the supply chain of feed as the impact of different feed ingredients may vary and depend highly on its origin and the way it is being produced. Also, the environmental impact of the livestock industry is becoming an important issue; hence, policymakers and retailers are turning their attention toward this industry. Therefore, farmers and feed manufacturers also focus on reducing the environmental impact both on the feed and the final protein while keeping minimum feed costs. For instance, in December 2020, BASF and Adifo Software entered into a partnership to launch a new digital solution, Opteinics (with BESTMIX feed formulation software). This new solution would help BASF to optimize feed formulation while supporting more sustainable animal protein production.


Additionally, increased demand for appropriate livestock nutrition drives the compound feed market revenue. Livestock continues to make an important contribution to the food chain. It is seen that energy fluctuation and imbalance in the metabolic process can induce various diseases and hamper livestock performance. The major reasons include inappropriate nutrition, overeating, and lack of physical activity. Compound feed is a careful mix of ingredients that provide a proper blend of carbohydrates from cereals, fat and protein from oilseeds, and fiber, which is highly valuable in animal nutrition. Feeding good-quality feed to animals, which includes grains like corn and barley, changes the color of carcass fat from yellow to white, which increases the chance of obtaining higher-quality meat for commercial purposes.


Furthermore, animal feed quality and safety are key factors in meeting the domestic demand for safe and high-quality foodstuffs of animal origin. Animal nutrition is key in the livestock industry and contributes significantly to nutrient-efficient livestock production. It also fosters the safety and dietary quality of animal products for human consumption by enhancing the animal health and welfare status of farm animals. Animal nutrition science also helps to reduce greenhouse gas emissions and land use linked to livestock production on a unit product base.


The increasing understanding of the health benefits of proteins on animal health has resulted in a significant demand for protein feeds such as animal protein meals, fish meals, bone meals, feather meals, blood meals, and other protein meals and feeds. Because livestock and farm animals play an important role in the food supply chain, demand for protein-rich and nutritious compound feeds is expected to rise during the forecast period. The ever increasing demand for protein-rich animal feeds to promote livestock growth at all stages of life is expected to drive the overall market.


Recent News:


In January 2023, substantial quantities of food refuse are discarded, contributing to the contamination of the urban environment. An animal feed startup based in India that has successfully converted refuse has garnered investment and knowledge collaboration from the Israeli government. Insectika Biotech Private Limited (IBPL), a start-up, has initiated a partnership with the Bhubaneswar Municipal Corporation (BMC) to utilize Micro Composting Centres as a repository for food and other moist green refuse. The organization inadvertently cultivates black soldier fly larvae on food refuse. It produces both crops and animal sustenance.


The Nigerian federal government intends to publish a National Animal Feed Policy document in an effort to resolve obstacles that impede the country's livestock industry. The government is resolute in its efforts to encourage novel methodologies for animal feed production in order to counter the obstacles that exist within the subsector. The nation's susceptibility to natural disasters and the COVID-19 pandemic have underscored the critical need for additional measures to enhance food security. Obstacles including the exorbitant expense of supplies are propelling food price increases and inflation. Emphasizing the significance of the RAFFS project inception workshop, the profiling and launch of AWARFA-N Nigeria, and the launch of the feed and fodder assessment, it was stated that this intervention was timely and would help farmers identify fodder opportunities and solidify solutions to food security challenges.


Compound Feed Market Segment Insights


Compound Feed Ingredients Insights


The compound feed market segmentation, based on ingredients, includes cereals, cereal by-products, oilseed meals, oils, molasses, supplements, and others. The cereals segment dominated the market, accounting for 35% of market revenue (183.81 Billion). In developing economies, category growth is driven as cereals are consumed in high amounts when compared with other ingredients due to their wide availability and strong nutritional profile. However, oilseed meal is the fastest-growing category as oilseed meals are a major protein source in animal diets.


Compound Feed Supplements Insights


The compound feed market segmentation, based on supplements, includes vitamins, antibiotics, antioxidants, amino acids, enzymes, acidifiers, and others. The amino acids category generated the most income (70.4%) due to its capacity to build immunity and encourage animal growth. It aids in controlling nail and skin problems in animals. However, vitamins are the fastest-growing category owing to rising awareness among customers regarding the advancement of fat-soluble vitamins.


Compound Feed Livestock Insights


The compound feed market segmentation, based on livestock, includes ruminants, swine, poultry, aquaculture, and others. The swine category generated the most income owing to the high demand for pig meat in the US, Mexico, China, and other South East Asian countries. However, poultry is the fastest-growing category due to the high demand for chicken and eggs as an inexpensive source of protein.


Figure 1: Compound Feed Market, by Livestock, 2022 & 2032 (USD Billion)


 


Compound Feed Market, by Livestock, 2022 & 2032 (USD Billion)1.jpg


Source: Secondary Research, Primary Research, MRFR Database and Analyst Review


Compound Feed Regional Insights


By region, the study provides market insights into North America, Europe, Asia-Pacific and the Rest of the World. The North American compound feed market will dominate owing to the existence of an abundant livestock population along with the existence of different agricultural economies. Major players are likely to develop their poultry feed portfolio owing to consumers' shifting preferences for meat consumption. Further, the US compound feed market held the largest market share, and the Canadian compound feed market was the fastest-growing market in the North American region.


Further, the major countries studied in the market report are The US, Canada, German, France, the UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil.


Figure 2: Compound Feed Market Share By Region 2022 (USD Billion)


Compound Feed Market Share By Region 2022 (USD Billion)1


Source: Secondary Research, Primary Research, MRFR Database and Analyst Review


Europe's compound feed market accounts for the second-largest market share due to the rising health consciousness among consumers and the growing per capita meat consumption in the region. Further, the German compound feed market held the largest market share, and the UK compound feed market was the fastest-growing market in the European region.


The Asia-Pacific compound feed market is expected to grow at the fastest CAGR from 2023 to 2032. This is owing to the rise in human population in countries including China and India and the increasing demand for meat protein, resulting in escalating animal farming practices that will boost the market growth in this region. Moreover, China’s compound feed market held the largest market share, and the Indian compound feed market was the fastest-growing market in the Asia-Pacific region.


Compound Feed Key Market Players & Competitive Insights


Leading market players are investing heavily in research and development in order to expand their product lines, which will help the compound feed market grow even more. Market participants are also undertaking numerous strategic activities to expand their footprint, with important market developments such as contractual agreements, new product launches, mergers and acquisitions, higher investments, and collaboration with other organizations. To expand and survive in a more competitive and rising market climate, the compound feed industry must offer cost-effective items.


Manufacturing locally to minimize operational costs is one of the key business tactics used by manufacturers in the compound feed industry to benefit clients and increase the market sector. Major players in the compound feed market, including Charoen Pokphand Foods PCL (Thailand), New Hope Group (China), Cargill, Inc. (U.S.), Land O' Lakes (U.S.), Guangdong HAID Group Co., Ltd. (China), and others, are attempting to increase market demand by investing in research and development operations.


Cargill Inc is an agribusiness company providing products and services in food, financial, agricultural, industrial and risk management. It carries out the marketing, processing, and distribution of grains, oilseeds, sugar, meat, other food products, and cotton. It also manufactures natural ingredients for the personal care industry, pet food, animal feed and bio-industrial products. The company provides technical support, data asset solutions, transportation and logistics, risk management, and marketing services. In addition, the company produces and distributes starch and starch sweeteners, fuel ethanol and biodiesel. Cargill markets its feed and pet food products under several brands, including Nutrena, Provimi, Cargill, EWOS, Diamond V and Purina. In April 2022, Cargill and Intelia entered into a strategic partnership to expand broiler performance via a new precision management tool. The data from this digital platform would help maximize bird health and well-being, operational performance, and efficiency.


Alltech Inc is an animal health and nutrition company. It provides natural nutritional products, solutions, technical information, and help to the animal nutrition and feed industry. The firm's product and service portfolio comprises yeast cultures and extracts, enzymes, organic minerals, biologically active proteins, flavors and direct-fed microbials for the treatment of mastitis, health and immunity problems. The products find application in productivity, animal reproduction and fertility in pigs, poultry, equine, aquaculture products, dairy cow and others. It has bioscience centers in the US. In May 2021, Alltech recently introduced a new line of Lifeforce TM, premium equine complements, to the market. Supported by more than 40 years of scientific research and formulated with field-proven technologies, these supplements have been created to meet the requirements of modern horses throughout their lives, from interpretation to recreation.


Key Companies in the Compound Feed market include



  • Charoen Pokphand Foods PCL (Thailand)

  • New Hope Group (China)

  • Cargill, Inc. (U.S.)

  • Land O' Lakes (U.S.)

  • Guangdong HAID Group Co., Ltd. (China)

  • BRF (Brazil)

  • Tyson Foods, Inc. (U.S.)

  • Nutreco (Netherlands)

  • De Heus Animal Nutrition (Netherlands)

  • ForFarmers (Netherlands)


Compound Feed Industry Developments


January 2022: ADM opened an Aquaculture Innovation Lab at the Animal Nutrition Technology Center in Decatur, Illinois. The laboratory extends ADM's international R&D capabilities to this region, building on existing aquaculture research facilities in Brazil, Mexico, and Vietnam. The new facility expands capabilities to develop novel nutrition solutions.


September 2021: Suguna Feeds launched their cattle feed variants, MilkyBest+ and NutriBest, at their feed mill in Udumalpet, India. Both of these cattle feed variants are relatively cheaper than most brands in the Indian market while offering higher quality.


Compound Feed Market Segmentation


Compound Feed Ingredients Outlook



  • Cereals

  • Cereal By-Products

  • Oilseed Meal

  • Oils

  • Molasses

  • Supplements

  • Others


Compound Feed Supplements Outlook



  • Vitamins

  • Antibiotics

  • Antioxidants

  • Amino Acids

  • Enzymes

  • Acidifiers

  • Others


Compound Feed Livestock Outlook



  • Ruminants

  • Swine

  • Poultry

  • Aquaculture

  • Others


Compound Feed Regional Outlook



  • North America

  • US

  • Canada

  • Europe

  • Germany

  • France

  • UK

  • Italy

  • Spain

  • Rest of Europe

  • Asia-Pacific

    • China

    • Japan

    • India

    • Australia

    • South Korea

    • Australia

    • Rest of Asia-Pacific



  • Rest of the World

    • Middle East

    • Africa

    • Latin America



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