The compound feed market was estimated at USD 458.1 billion during the historic forecast period and is expected to grow by 4.1% CAGR during the forecast period Compound feed is a type of feed made by combining multiple source ingredients and additives. The combinations are accessible in the form of pellets, which are a sort of food, and are manufactured or generated according to the target animal. The main substances utilized in the manufacturing of animal compounds are corn, oats, and soy. Compound feed is an important part of the raw feed supply chain. It contributes to the protection of the food supply as well as the quality of all aquaculture and livestock productions, as well as the supply chain. This food is prepared to give appropriate nutrition and promote the health of household cattle and animals. There are various benefits of using compound foods, including greater cost-effective nutrition, nutritious food quality, and high-grade meat products.
The global increase in demand for compound feed is being hampered by the COVID-19 epidemic, which has disrupted the supply chain and hence restricted commerce in the commodity. As a result, if the restriction on logistics movement is prolonged until the third quarter of 2021, this is projected to endure even longer.
Based on the delivery, the market is segmented as supplements and raw materials delivered to livestock, derived from industrial processing, inorganic substances, animal, vegetable, organic substances, and containing or not containing additives.
Based on the species of animals, the market is segmented as chickens, ruminants, aquaculture, pigs, and others.
Based on the ingredients, the market is segmented as foods, cereals, and cakes.
Based on the by- supplements and products, the market is segmented as amino acids, vitamins, acidifiers, enzymes, prebiotics and probiotics, and Others.
Based on the region, the market is segmented as Europe, North America, Asia-Pacific, Africa, and South America.
Because of the vast livestock sector in the region, Asia-Pacific accounts for a significant portion of the market. This is due to the increased demand for aquaculture and meat products, which is the primary driver of compound feed market trends. Other factors that contribute to the market's growth include increasing knowledge of the quality of milk, meat, and other dairy products, as well as increased livestock output. Due to the growing demand for beef around the world, daily is one of the most requested compounds for feed for animals, with excellent participation, followed by the chicken section. Because of the shifting dynamics of industrialization in the meat business, daily and bird growth rates are likely to increase.
The major key players in the market are Smithfield, Nutrition N.V, BIOMIN Holding GmbH, Cargill, Novus International Inc., BASF SE, Addcon Group GmbH, Tyson, Kemin Industries Inc., Adisseo France S.A.S, and Elanco Animal Health Inc. The industry is exceedingly expensive and is characterized by high raw material costs. Suppliers invest in research and development to create co-products that provide them a competitive advantage over other suppliers and benefit the compound feed business economically. Shortly, the industry is projected to see several acquisitions and mergers, with companies vying for market share and supplying a diverse range of products.
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