Animal feed plays an important role in maintaining the food chain and has a repercussion on the composition and quality of livestock products such as, milk, meat and eggs, consumed by humans on a daily basis.
In order to provide us with good livestock products, animals also need nutrients in their feed, such as pasture grasses, hay and silage crops, and certain cereal grains, are grown explicitly for animals.
After statistically organizing the data, Food Standard Agency UK stated in an article that, about 200,000 animal feed businesses are currently involved in importing, producing, storing and distributing animal feed, and food industries are expected to face the challenge of feeding more than 9 billion people by 2050, leading to an increased demand of livestock products.
Due to increased demand, animal feed manufacturer needs to follow certain regulations under the EU Feed Hygiene Regulation, which consists of a system for the registration or approval of business establishments, manufacturers, market and distribution of animal feed.
New research and development centers have been developed, leading to availability of new products in the market. Major companies such as ADDCON are conducting seminars in developing countries, such as Pakistan to increase awareness regarding feed hygiene and drinking water acidification and its treatment.
The total worth of the animal feed was approximately noted to be around USD 6.10 billion, in 2017.
The Animal Feed Market is expected to reach 20.97 kilo tons by year 2025, from 16.95 kilo tons in 2017, growing at a CAGR of 2.7% during the forecast period of 2018 to 2025.
Market Segmentation: The global animal feed market is segmented based on product, livestock, and geographical segments.
Based on product, animal feed market is segmented into antibiotics, vitamins, antioxidants, amino acids, feed enzymes, feed acidifiers and others. On the basis of Livestock, it is classified into pork, poultry, cattle, aquaculture and others. Based on geography, the report covers data points for 28 countries, namely North America & South America, Europe, Asia-Pacific and, Middle East & Africa. Some of the major countries covered in this report are U.S., Canada, Germany, France, U.K., Netherlands, Switzerland, Turkey, Russia, China, India, South Korea, Japan, Australia, Singapore, Saudi Arabia, South Africa and, Brazil among others.
