Pig Feed Market Forecast and CAGR
According to latest research study by FactMR, Pig Feed market is on the urge to showcase substantial growth of more than 5% during 2021-2031. Pork is the world's most common and widely consumed meat, particularly in Europe and Southeast Asia.
Pork is less expensive than other meats, which contributes to its widespread consumption. Pork demand is being boosted by a strong middle-class population, rising disposable income, and shifting customer preferences. The consumption of pork has relative impact on the production of high quality pig feed enabling promising growth outlook during the forecast period.
What is Driving Demand for Pig Feed?
Feed additives play a vital role in animal nutrition in modern livestock management. They increase the digestibility of the feed while also increasing the nutritional quality and palatability of the feed to provide health benefits.
Since feed costs account for three fourth of the total cost of pig meat production, the growth of the pork industry has also aided the growth of the pig feed sector. As a result, the cost of feed ingredients has a significant effect on the cost of pork production.
China had the largest pig population of any country as of April 2021 with more than 400 million pigs while over 150 and 75 million counts, are estimated in the European Union and the United States standing second and third on the list respectively
The rising pig population along with the consumer preference towards pork meat has open the doors for pig feed manufacturers to cater to the ever rising consumption. There lies huge pool of opportunity for suppliers to streamline their supply network to attain significant revenue generation.
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Factors Driving Pig Feed Sale
In 2019, total feed tonnage for all species decreased by less than 2% to 1.2 billion metric tons. The top feed producers are the, China, United States Russia, Mexico, Germany, India, Spain, Japan, and Brazil. These countries produce nearly 60% of the world's feed and have close to 55% of the world's feed mills, so they are considered as a benchmark for overall agricultural trends.
The pork industry is a significant part of the agricultural sector in the United States. More than 60,000 pork producers sell more than 115 million hogs per year across the country. These animals produced a total gross income of more than $20 billion on average, and the pork industry employs approximately 550,000 people. However, the impact of African swine fever on global feed production has been felt as the global pig feed tonnage showed a downfall of more than 10% in 2019.
Meat consumption rises in parallel with per capita income. In addition, countries with more urbanized populations consume more meat per capita. Owing to the mounting consumption of pig meat, the relative feed production is expected over the forecast period wherein the manufacturers will witness an optimistic growth outlook.
Asia Demand Outlook for Pig Feed Market
China, unsurprisingly, is the world's leading pork producer, producing approximately 55 million metric tons of pork per year. Feed production in the Asia-Pacific region fell by more than 5% in 2019, owing primarily to ASF and strong declines in pig feed production. China's total feed production dropped by nearly 20 million metric tons to close to 170 million metric tons, dropping from first to second place behind the United States.
India and Japan remained in the top ten feed-producing countries, with equal production of nearly 40 MMT and approximately 25MMT, respectively, compared to 2018, while Vietnam's production fell by about 7% owing to swine flu awareness.
The growing popularity of pork meat in the region along with rising populations and urbanization is expected to fuel market expansion. This is going to elevate pig feed sales from these countries and is poised to keep the market growth consistent throughout the forecast period.
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Who are the Key Manufacturers and Suppliers of Pig Feed?
Some of the leading manufacturers and suppliers of pig feed include AGRAVIS
- Alltech Inc.
- ANYOU Grou
- Archer Daniels Midland
- BASF Limited
- Cargill Inc.
- Chr Hansen
- CP Group
- DBN Group
- Hi-Pro Feeds
- Kent Foods
- Lallemand Inc.
- Land O' Lakes Purina
- New Hope
- Novus International Inc.
- Nutreco NV
- Royal DSM Holdings Limited
- TRS Group
- Twins Group
- Zhengbang Group
The manufacturers have streamlined their supply chain network with the pig farms, animal husbandry organizations and veterinary doctor to gain more market coverage. The market is the highly fragmented with abundant number of players operating regionally based on the competitive pricing of feed.
Also, the continuous increase in the number of variety, flavors, type and food specialty of pig feed food ingredients in the marketplace, as manufacturers of pig feed seek to formulate better products, which will be one of the contributing factors to this market development.
Pig Feed Market Report Highlights:
- Detailed overview of parent market
- Changing market dynamics in the industry
- In-depth market segmentation
- Historical, current and projected market size in terms of volume and value
- Recent industry trends and developments
- Competitive landscape
- Strategies of key players and products offered
- Potential and niche segments, geographical regions exhibiting promising growth
- A neutral perspective on market performance
- Must-have information for market players to sustain and enhance their market footprint
NOTE - All statements of fact, opinion, or analysis expressed in reports are those of the respective analysts. They do not necessarily reflect formal positions or views of the company
An Adaptive Approach to Modern-day Research Needs
By Life Stage
- Grow Finish
- Commercial Sow
- Small Farm or Hobby
By Additive Type
- Zootechnical Feed Additives
- Sensory Feed Additives
- Nutritional Feed Additives
- Amino Acids
By Sales Channel
- Modern Trade Channels
- Online Channel
- Third Party Website
- Direct to Customer
- Animal Food Stores
- North America
- US & Canada
- Latin America
- Brazil, Mexico, Argentina & Rest of Latin America
- Germany, France, Italy, Spain, U.K., Benelux, Russia, and Rest of Europe
- East Asia
- China, Japan, South Korea
- South Asia
- India, Thailand, Malaysia, Indonesia and Rest of South Asia
- Australia and New Zealand
- Middle East and Africa
- GCC Countries, Turkey, South Africa, and Rest of Middle East & Africa
The report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, inputs from industry experts and industry participants across the value chain. The report provides in-depth analysis of parent market trends, macro-economic indicators and governing factors along with market attractiveness as per segments. The report also maps the qualitative impact of various market factors on market segments and geographies.
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