DUBLIN--(BUSINESS WIRE)--The "Feed Processing Market by Type (Cleaning & Sorting, Grinding, Mixing, Conditioning & Expanding, Dosing & Batching, Pelleting, Extrusion), Mode of Operation, Livestock, Form of Feed, and Region - Global Forecast to 2023" report has been added to ResearchAndMarkets.com's offering.
The feed processing market is estimated at USD 21.61 billion in 2018 and is projected to grow at a CAGR of 4.3%, to reach USD 26.62 billion by 2023.
The market is driven by factors such as an increase in the demand for feed around the world and in the rising awareness of feed nutrition and health. However, market consolidation is the major restricting factor for the feed processing industry as leading feed processing manufacturers are adopting inorganic growth strategies, which is the major reason for market consolidation.
The testing & analysis segment is projected to grow at the highest CAGR during the forecast period.
Based on type, the testing & analysis segment is projected to grow at the highest CAGR during the forecast period. An analytical testing practice for animal feed and feed ingredients was introduced to analyze the nutrient profile in samples. The need to understand the composition of feed was driven by the demand for balanced feed and improved additives from the stakeholders in the feed industry.
The automatic segment is projected to grow at the highest CAGR during the forecast period.
Based on the mode of operation, the automatic segment is projected to grow at the highest CAGR during the forecast period. The automatic mode of operation in the feed processing industry has allowed feed manufacturers to mass-produce feed products of high-quality and at high speeds. Feed manufacturers are increasingly using automated systems to control complete production lines.
Rest of the World (RoW) is projected to be the fastest-growing market during the forecast period.
The RoW region accounted for a relatively small share of the global feed processing market. The major countries with growth potential in this market include the Middle East and Africa. The countries studied in the RoW region are developing economies; the growing per capita income of these countries, along with the rapid urbanization contribute to the growing pet adoption in this region, which would subsequently drive the demand for feed processing technologies.
Leading players profiled in this report:
- Andritz (Austria)
- Buhler (Switzerland)
- Pavan (Italy)
- Clextral (France)
- Muyang (China)
- Bratney (US)
- Dinnissen (Netherlands)
- Henan Longchang Machinery (China)
- BK Allied (India)
- Het Feed Machinery (China)
For more information about this report visit https://www.researchandmarkets.com/research/rk726q/feed_processing?w=4