LONDON--(BUSINESS WIRE)--Technavio has been monitoring the global animal feed market since 2015 and the market is poised to grow by USD 92.79 billion during 2020-2024, progressing at a CAGR of nearly 4% during the forecast period. Request free sample pages
Read the 153-page report with TOC on “Animal Feed Market Analysis Report by Geography (APAC, Europe, MEA, North America, and South America), Product (poultry, swine, ruminant, aquaculture, and others), and the Segment Forecasts, 2020-2024”.
The market is driven by the increasing number of product launches. In addition, the adoption of new technologies is anticipated to boost the growth of the animal feed market.
Vendors in the market are focusing on expanding their product portfolio by launching new products. This helps them in increasing revenue flow as well as their share in the market. Some vendors are focusing on launching new products under new brand names. For instance, in 2018, Patanjali announced the launch of urea-free cattle feed and feed supplements under the new brand, Dugdhamrit. Similarly, in April 2019, Nutreco launched two new fish feed products under the brand, Skretting in Egypt. Many such product launches are fueling the growth of the global animal feed market.
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Major Five Animal Feed Companies:
Archer Daniels Midland Co.
Archer Daniels Midland Co. operates the business across various segments such as Origination, Oilseeds, Carbohydrate solutions, Nutrition, and Other. The company offers a wide range of animal feed products, ranging from amino acids and feed enzymes to high-quality macro feed ingredients, premixes, supplements, custom ingredient blends, and specialty feed ingredients.
Cargill Inc. operates the business across various segments such as Animal nutrition & protein, Food ingredients & applications, Origination & processing, and Industrial & financial services. The company offers a wide range of feed and feed additives to swine, beef, aquaculture, poultry, and others. Some of the products offered by the company include Notox, Valido, Intella FIT, Cinergy IGP 5/10, Proviox, AOX, Trasic SeY, and Valido Choline RP.
Charoen Pokphand Foods Plc
Charoen Pokphand Foods Plc operates the business across various segments such as Feed business, Farm business, and Food business. The company offers livestock feed such as swine feed, chicken feed, duck feed, cow feed, quail feed, and native broiler chicken feed. It also offers aquaculture feeds such as shrimp feed, freshwater prawn feed, tilapia (Tub Tim) fish feed, catfish feed, and frog feed.
Evonik Industries AG
Evonik Industries AG operates the business across various segments such as Nutrition and care, Resource efficiency, Performance materials, and Services. The company offers a wide range of animal feed products. Some of the products offered by the company include MetAmino, PROXYMet, Ecobiol, Biolys, Veramaris, AQUAVI Met-Met, DL-Methionine for Aquaculture, ThreAmino, TrypAmino, GutCare, and Mepron.
ForFarmers NV operates the business across various segments including the Netherlands, Germany/Belgium/Poland, and United Kingdom. The company offers a wide range of compound feeds, young animal feeds, and specialized feeds.
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Animal Feed Product Outlook (Revenue, USD Billion, 2020 - 2024)
Animal Feed Regional Outlook (Revenue, USD Billion, 2020 - 2024)
- North America
- South America
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