Swine Feed Market - Forecasts from 2024 to 2029

Swine Feed Market - Forecasts from 2024 to 2029

The swine feed market is evaluated at US$176.554 billion for the year 2022 growing at a CAGR of 3.76% reaching the market size of US$228.654 billion by the year 2029.

Growing global demand for pork has led to a significant boost in swine production worldwide. This, in turn, is fuelling the demand for healthy and functional swine feed across the global swine husbandry sector. Rising awareness regarding the nutrition of pork among consumers is further compelling pig farmers to use high-quality swine feed to provide proper nutrition to pigs. By geography, the APAC region is the key market for swine feed due to the high pork production in the region. According to the Food and Agricultural Organization (FAO), China accounts for 50% of global swine production, followed by the EU and U.S.

MARKET DRIVERS:

Increasing demand for high-end animal protein.

The livestock sector has been under growing pressure to supply the rising demand for meat and high-quality animal protein. Global livestock production has increased, pushing the swine feed market at the same time as rising urbanization, rising household incomes in developing countries, and population growth. Growth in the intake of animal proteins is anticipated as common knowledge of the advantages of diets high in protein increases. Pig meat is among the most widely consumed meats worldwide, especially in European and Southeast Asian countries; therefore, this is projected to drive the market's expansion through the use of high-quality swine feed. A significant factor in the rising demand for pork is considered to be urbanization. According to the World Bank, the urban population in India grew by 2.1%. Such developments in emerging nations are expected to drive meat consumption further. Urban areas have diets that are higher in animal proteins and fats than rural place. Since there is a correlation between economic levels and the intake of animal protein, developing nations like those in the Asia-Pacific like India and China, which have seen their disposable income rise, have also seen increased demand for swine meat and offered the swine feed lucrative prospects for future expansion.

Technological advancements in feed manufacturing.

Technological developments in feed manufacturing are critical in determining the direction of the swine feed market. Modern technologies enable precision nutrition and formulation, which allows swine feed to be tailored to the unique nutritional needs of various phases of pig growth. Precision feeding increases feed efficiency, boosts overall growth rates, and benefits the health of the swine herd.

Furthermore, the feed production process is made more efficient, less wasteful, and economically viable by improvements in automation and process control. Precise ingredient mixing is made possible by automated devices, which provide consistent nutritional distribution in the feed. Using fewer resources, not only improves the feed's quality but also helps swine production remain sustainable.

Continuous technical advancements in the feed manufacturing industry play a critical role in optimizing the composition of swine feed, enhancing production efficiency, and eventually propelling the market's overall development and sustainability.

The Asia Pacific swine feed market is anticipated to grow significantly.

Asia is among the world's largest producers and consumers of pork, which projects well for the region's swine feed business. Southeast Asia also produces and exports a vast amount of pig meat. The main markets for the sale of swine meat are China, Vietnam, Thailand, Japan, the Philippines, and South Korea. The region's major markets for swine consumption are Japan, China, and South Korea, while the Philippines and Vietnam are growing markets. For instance, according to Faostat, the annual per capita average pork meat consumption in the Chinese region was 35.3kg in 2020, due to this, the consumption of swine feed in China is expected to be at the forefront. Pig consumption is expanding in the nation as a result of several factors, including greater disposable income among the people and urbanization. As a response, the demand for swine feed is predicted to rise along with the demand for pig meat and the cost of raw materials for animal use. According to statistics by the Chinese government, the average per capita disposable income in China showed an increase of 9.1% in 2021 as compared to 2020. Further, it is anticipated that the use of intensive livestock farming practices will contribute to preserving the region's strong growth rate for swine feed.

Key Developments:

In September 2023, to complete development and introduce the biosolution Ablacto+, Novozymes and Bactolife, a Danish industrial biotech business, have inked a cooperative development and commercialization agreement. The product shows promise in stabilizing piglets' guts and lessening the intensity of post-weaning diarrhea (PWD).
In March 2023, IFF business unit Danisco Animal Nutrition & Health announced the introduction of Axtra® PRIME, an enhanced enzyme blend created to tackle major issues in piglet production. This very successful feed product is now accessible in the United States. It promotes gut health, aids in nutrient absorption, and produces quantifiable performance effects.

Segmentation:

By Feed Additives
Antibiotics
Anthelmintics
Acidifiers
Others
By Feed Type
Starter Feed
Grower-to-Finisher Feed
Gestation Feed
Lactation Feed
By Geography
North America
United States
Canada
Mexico
South America
Brazil
Argentina
Others
Europe
UK
Germany
France
Italy
Spain
Others
Middle East and Africa (MEA)
Saudi Arabia
UAE
Isreal
Others
Asia Pacific
Japan
China
India
Australia
South Korea
Indonesia
Thailand
Taiwan
Others