Analysis of Compound Horse Feedstuff market covering 30 + countries including analysis of US, Canada, UK, Germany, France, Nordics, GCC countries, Japan, Korea and many more
Expanding at a CAGR of 4%, the global compound horse feedstuff market is expected to rise from a valuation of US$ 7.88 billion in 2022 to US$ 11.83 billion by the end of 2032.
Demand for compound horse feed cubes is anticipated to increase over the forecast period due to their rising popularity, superior palatability, and digestibility.
Compound Horse Feedstuff Market Size (2022E)
US$ 7.88 Billion
Forecasted Market Value (2032F)
US$ 11.83 Billion
Global Market Growth Rate (2022-2032)
North America Market Share (2022)
Europe Market Share (2022)
Key Companies Profiled
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“Increasing Need for Extensive Nutrition in Horses Driving Demand for Compound Horse Feedstuff”
According to Fact.MR, a market research and competitive intelligence provider, demand for compound horse feedstuff is projected to increase at a CAGR of 4% from 2022 to 2032.
The animal feed industry is growing rapidly owing to the increasing demand for healthy and energetic feed. Horse feed among all animal feed has witnessed steady market growth for the past half-decade. The straight feed provided to horses as a source of energy has shown incompleteness for diet. Whereas, compound horse feedstuff made horses more energetic and active. The compound horse feedstuff market is set to witness substantial growth during the forecast period.
Compound horse feed is made up of a variety of nutrient-rich foods, such as wheat, barley, maize, and other additives. To meet the rising demand for comprehensive nutritional requirements for horses, an increasing number of horse owners and breeders are focusing on compound horse feedstuff rather than straight feed.
Due to its diverse component profiles, compound horse feedstuff is continuing to acquire significant traction in light of the expanding prevalence of the health and wellness trend in various types of animal feed.
Horse riding sport is one of the most expensive sports across the globe owing to high expenditure on expensive equipment, food, and nutrition for the horses, training, and others. Above all, the need of providing high-strength horse food is the supreme factor, which enables the horse to be healthy and outshine in events throughout.
Compound horse feedstuff increases the horse's strength to enable good performance. For higher performance, manufacturers are raising their equine feed's caliber.
When a horse excels in a competition, the owner's or trainer's choice of feed becomes more well-known. Therefore, horse-related athletic events play a significant role in providing market participants with opportunities to boost their sales, as a whole supplying the overall compound horse nutrition sector.
“Growing Consumption of Compound Horse Feedstuff to Boost Performance in Horses”
Compound feed is a form of food that contains more than two ingredients and provides an animal with vital nutrients. Such a variety is referred to as compound horse feed. This type of feed typically consists of a blend of nutrient-dense grain varieties.
One significant element driving up the growth rate of the compound horse feedstuff market is the increased need for comprehensive nutrition among horses. The market for compound horse feedstuff may experience remarkable expansion due to the advantages attached to the equine consumption of these products.
Equestrian sports gained tremendous popularity over the past few years, and people across the globe especially in developed economies are opting for such sport over others.
Compound horse feed enhances performance and satisfies the high energy needs of horses. It also guards against numerous muscular afflictions. Even lacking a gallbladder, horses require nutritional lipids to function efficiently. Because they can digest dietary fats, horses can benefit from their high vitamin absorption, omega-6 and omega-3 fatty acid content, and other nutritional benefits.
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“Rising R&D Efforts & Introduction of Innovative Solutions to Pave Way for Emerging Market Players”
New compound horse feedstuff producers are engaged in extensive research and development efforts to find new compositions that provide excellent nutritive value for horses. Additionally, they engage in strategic alliances and business development initiatives to broaden their impact on the compound horse feedstuff industry.
As the market for compound horse feedstuff becomes more competitive, new participants have focused on creating a fresh variety of quality-assuring varieties that promise increased productivity. To appeal to a larger audience with specialized tastes in ingredients, stakeholders are also concentrating on customized products based on specific needs and trends.
“Rise in Disposable Income and Increasing Activities & Sports Related to Horses Driving Market Growth in North America”
North America accounts for 28.3% share of the global compound horse feedstuff market. The region is known for the famous horse polo game in the U.S. Other activities and sports related to horses in the region have also gained popularity in the last few decades.
The U.S. has approx. one-third of the horse population globally, which creates high demand for multifunctional horse feedstuff for professional and sporting horses. In addition, the U.S. organizes five of the top 12 well-known horse races and the country is known for its large base of horse racing enthusiasts, which is why the demand for compound horse feedstuff is also high.
The U.S. is one of the most developed countries in the world, and a large part of the population in the country has the potential to live a luxurious life. Owing to high income, many people keep a horse for passion and recreational purposes.
Europe accounts for 24.1% share of the global market. Europe is the most prominent region for horse feedstuff manufacturers as the region accounts for the highest horse population in the world.
“Cereals Gaining Traction Owing to Their Superior Nutritional Composition”
Based on ingredients, the compound horse feedstuff market is segmented into cereals, supplements, cakes/meals, and others.
There has been a major increase in interest in horse nutrition and health in recent years due to the pressing need for various cereals that are better suited for horses than standard hay and pasture.
Due to their widespread availability and superior nutritional composition, cereals are ingested in higher quantities than other foods. The three main sources of feed cereals are corn, wheat, and rice in both developed and developing nations. Oats, sorghum, millet, and barley are some other feed cereals that animals eat.
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Key market players have placed their focus on strengthening forward and backward integration to secure a better position in this competitive market.
Manufacturers and suppliers are focusing on longstanding contracts with breeders and trainers to provide better foodstuff in bulk quantity leading to a better profit margin. Thus, the aforementioned strategies by key players are allowing them to create ample opportunity in the compound horse foodstuff business.
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The global compound horse feedstuff market is valued at US$ 7.88 billion.
The top 3 countries hold 23.5% market share.
North America dominates the market with 28.3% share.
Farmvet, Epol, and Cavalor are the top 3 compound horse feedstuff manufacturers.
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