Compound Feed Market, By Ingredient Type (Cereals, Cakes and Meals), By Animal Type (Ruminants, Poultry, Swine, Aquaculture, Other Animal Types), By Geography (North America, Latin America, Europe, Asia Pacific, Middle East, Africa) - Size, Share, Outlook, and Opportunity Analysis, 2022 - 2030
The term compound feed describes a variety of ingredients used in a mix to provide balanced nutrition to livestock. These materials may come from inorganic sources, plant sources, or industrial processing. Common raw materials used for this type of feed include soybean, corn, wheat, barley, and sorghum. Many additives such as vitamins, minerals, and amino acids are also blended in. These ingredients are essential for the proper functioning of livestock.
Market Dynamics:
Growing demand for the higher value and quality foods, such as eggs, meat, and milk is primarily fueling growth of the global compound feed market. According to a survey conducted by OECD-FAO, meat production increased from 317.17 million metric tons in 2016 to 327 million metric tons in 2018. Increasing consumption of fish and its products across the world is again fostering market growth. Moreover, the industrialization of livestock sector is further projected to propel market growth.
On the contrary, the growing demand for organically sourced meat, eggs, and dairy products is expected to act as restraining factor for the global compound feed market.
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