In this report, Technavio highlights the growing number of strategic partnership and acquisitions as one of the key emerging trends in the global animal feed market. Strategic alliances and partnerships characterize the global animal feed market. Manufacturers in this market actively collaborate with raw material suppliers to facilitate continuous supply and also partner with distributors to ensure a steady market for their products. Manufacturers are able to widen their product portfolio and achieve better operational capabilities with the help of strategic alliances. The animal feed manufacturers in the market have formed various strategic alliances to expand their market presence.
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In this report, Technavio analysts highlight the growing demand for meat and poultry as a key factor contributing to the growth of the global animal feed market:
Global animal feed market: Growing demand for meat and poultry
A key driving factor for the global animal feed market is the growing demand for meat products obtained from livestock and poultry animals, and other forms of meat such as aquatic products. The nutritional value of the meat sourced from these animals, along with their weight and flesh quality can be boosted if they are fed with proper food supplements and nutrients. The fresh meat and poultry segment includes of meat, poultry, and seafood and is expected to experience steady growth over the forecast period.
According to a senior analyst at Technavio for food, “There has been a significant consumer shift toward the consumption of meat and poultry products, which is attributable to their need for protein-rich food sources. Thus, the primary driver for the market has been the rapidly changing preferences for higher protein intake in the overall diet. Factors such as growing population and increase in per capita income and consumption of meat products will drive the growth of the fresh meat and poultry market.”
Global animal feed market segmentation
This market research report segments the global animal feed market into the following products (poultry, swine, ruminants, and aquaculture) and key regions (the Americas, APAC, and EMEA).
Of the four major products, the poultry segment held the largest market share in 2017, accounting for nearly 44% of the market. The market share for this product is expected to decrease by 2022. The fastest growing product is swine, which will account for nearly 26% of the total market share by 2022.
APAC was the leading region for the global animal feed market in 2017, accounting for a market share of nearly 47%. By 2022, APAC is expected to continue dominating the market and register the highest growth.
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