Future of Feed Industry Market - Global Forecast to 2024

Future of Feed Industry Market - Global Forecast to 2024

With a growing understanding of the importance of nutrition in animal health and productivity, there is a rising demand for feed solutions tailored to the specific needs of different species and even individual animals. Innovations in biotechnology, data analytics, and precision feeding technologies are enabling the development of more effective and personalized feed solutions. For instance, Cainthus, an agtech firm based in Dublin, developed the ALUS Nutrition system, which employs AI to monitor cows in real-time, 24/7. This technology involves a smart camera system that continuously observes and analyzes cow behavior and feeding patterns. The farmer discovered a stray electric current running through the water supply, which was negatively impacting the cows' milk production and overall health. By identifying this issue early through the AI-driven monitoring system, the farmer rectified the problem, preventing a decline in milk production and maintaining the health of the cows. This case highlights how AI technology can identify and address issues that may not be immediately apparent, thereby enhancing productivity and animal welfare.

More and more startups are entering the feed industry. eFeed, an Indian company, specializes in advanced animal management and nutrition using artificial intelligence. They create personalized feed recommendations to enhance animal productivity and decrease methane emissions. The implementation of these AI-based feed recommendations has resulted in improved animal productivity and reduced methane emissions. This illustrates the industry's movement towards more efficient production and environmental sustainability.

Strategic Partnership Propel Growth in the Future of Feed Industry

The feed industry is witnessing a transformative shift driven by technological advancements and strategic partnerships. These collaborations are not only fostering innovation but also enhancing productivity, sustainability, and profitability within the sector. Cargill's strategic partnership with Cainthus, a Dublin-based machine vision company, exemplifies this trend. By integrating Cainthus' facial recognition technology into dairy farms worldwide, Cargill is leveraging AI to monitor livestock health and well-being more effectively. This technology tracks critical data points such as food and water intake, heat detection, and behavior patterns, enabling data-driven decisions that improve milk production, reproduction management, and overall animal health.

In addition to this, Cargill's launch of Micronutrition and Health Solutions (MHS) on February 1, 2024, highlights the company's commitment to a holistic approach to animal nutrition. MHS combines a broad portfolio of science-based products, services, and digital solutions to optimize animal performance and health. By considering all microelements—microorganisms, molecules, and micronutrients—impacting animal diets, MHS ensures precise and efficient nutrition management. These advancements underscore the critical role of strategic partnerships and cutting-edge technologies in shaping the future of the feed industry. Through collaborations like that of Cargill and Cainthus, the industry is moving towards more customized and effective feed solutions, ultimately enhancing animal health and farm profitability.

Alternative Protein options are gaining more attraction for animal feed.

The exploration of alternative protein sources such as insects, algae, and single-cell proteins is gaining traction. These alternatives are sustainable and offer high nutritional value, addressing environmental and economic challenges. According to the 2021 WWF Report, ""The Future of Feed: A WWF Roadmap to Accelerating Insect Protein in UK Feeds,"" the demand for insect meal from the UK's pig, poultry, and salmon sectors could reach approximately 540,000 tonnes annually by 2050. Companies are increasingly considering these alternative proteins as sustainable options for animal nutrition, aiming to provide optimal nutrition from the best protein sources. Utilizing these alternatives in feed chains has significant potential to support the transition to a circular economy. Notably, these alternative proteins can convert surplus food, which would otherwise be waste, into high-quality protein, replacing soymeal and fishmeal in animal feed.

Research Coverage:

The Global Feed Industry Outlook for 2024 is poised to provide comprehensive projections on the feed industry's performance, encapsulating major trends such as Nutritional Innovations, Sustainable Feed Ingredients, Enhanced Feed Safety and Quality Standards, Precision Feeding Technologies, Automation and Industry 4.0 in Feed Production, and Ethical Sourcing. This report will scrutinize the feed industry's 2023 performance in comparison to 2022, emphasizing critical developments within the feed landscape during 2023. Additionally, it will explore the key trends in 2024 that are expected to influence the feed industry, including macro-economic shifts, global industry-agnostic trends, and sector-specific advancements. These identified trends will act as the driving forces and constraints shaping the feed industry's trajectory in 2024. By drawing insights from historical performance and forecasting the anticipated impact of these trends, the report will generate predictions for the feed industry in 2024.

Reasons to buy this report:

The report will help the market leaders/new entrants in this market with information on the closest approximations of the revenue numbers for the overall Future of Feed Industry Outlook and the subsegments. This report will help stakeholders understand the competitive landscape and gain more insights to position their businesses better and plan suitable go-to-market strategies. The report also helps stakeholders understand the pulse of the market and provides them with information on key market drivers, restraints, challenges, and opportunities.

The report provides insights on the following pointers:

The report will encompass statistical data and prognostications pertaining to the performance of the feed industry across various metrics, and specific breakdowns for key regions.

This comprehensive analysis will extend to various growing markets, encompassing overall figures, segmentation by types, regional variations, and specific insights into key countries. The major markets discussed in the study are the Plant-Based Protein Market, Precision Fermentation Ingredients Market, Animal Nutrition Market, Feed Additives Market, Feed Automation and Robotics Market, Probiotics Market, Personalized Animal Nutrition Market, Regenerative Agriculture Market, and among others.