The swine feed market size was valued at 100.2 billion in 2019 and is expected to expand at a significant CAGR during the forecast period 2021–2028. Growth of the market is attributed to growing awareness about animal health, changing food habits, and introduction of new animal rearing practices.
Swine feed is made with wheat-based ingredients, natural corn, and soybean. It also contains minerals, amino acids, essential fatty acids, and vitamins to fulfill the nutrient requirements of swine. It provides nutrition to pigs in the process of rearing them.
The covid-19 pandemic affected the demand and supply of the swine feed market. Lockdown across the globe, supply chain disorders, and oscillating supply of raw materials forced manufacturers to shut down production leading to unfortunate decline in market growth. Launch of vaccines to combat the Covid-19 pandemic is expected to contribute to the market growth over the forecast period.
Market Trends, Drivers, Restraints, and Opportunities
- Increase in consumption of pork is projected to boost the market.
- Rising demand for chemical residues free meat is the major factor fueling the market.
- High cost of swine feed products is projected to restrict the market expansion during the forecast period.
- Government put ban on use of certain antibiotics is anticipated to hamper the market growth in the coming years.
- R&D investment and technological advancement in swine feed market is projected to offer lucrative opportunities for the market players.
Scope of the Report
The report on the swine feed market includes an assessment of the market, trends, segments, and regional markets. Overview and dynamics have also been included in the report.
Swine Feed Market–Global Industry Analysis, Growth, Share, Size, Trends, and Forecast
Ingredients [Oil Seed Meal, Oils, Molasses, Cereal By Products, Supplements, Cereals, and Others], Supplements [Vitamins, Antibiotics, Antioxidants, Enzymes, Acidifiers, and Amino Acids], End-users [Integrators, Farmers, Home-mixers, and Compound Feed Manufacturers]
Asia Pacific, North America, Latin America, Europe, and Middle East & Africa
Company Share, Market Analysis and Size, Competitive Landscape, Growth Factors, and Trends, and Revenue Forecast
Key Players covered in the Report
De Heus B.V., Nutreco N.V., Forfarmers B.V., Archer Daniels Midland Company, Land O’ Lakes Inc., Charoen Pokphand Foods, Cargill, Inc., Alltech, Inc., New Hope Group Co., Ltd., Agribusiness Holding Miratorg, and J.D. Heiskell & Co.
Market Segment Insights
The amino acids segment is expected to grow at a rapid pace
Based on supplements, the swine feed market is segregated into vitamins, antibiotics, antioxidants, enzymes, acidifiers, and amino acids. The amino acids segment accounts for a key share of the market. Growth of the market is attributed to rising awareness about side effect of feed additives on swine health and increasing per capita income of customers. However, the vitamins segment is anticipated to expand at a rapid pace during the forecast period due to factors such as rapid development in feed additives and compound feed sector and maintenance of high farming standards.
The cereals segment accounts for a key share of the market
On the basis of ingredients, the swine feed market is segmented into oil seed meal, oils, molasses, cereal by products, supplements, cereals, and others. The cereals segment accounts for a key share of the market. Growth of the market is attributed to increasing supply of quality products and increased demand for high-value animal protein. The molasses segment is anticipated to expand at a rapid pace during the forecast period due to factors such as increased industrial livestock production and rising demand for vitamins.
The compound feed manufacturers accounts for a significant share of the market
Based on end-users, the swine feed market is divided into integrators, farmers, home-mixers, and compound feed manufacturers. The compound feed manufactures segment accounts for a key share of the market. Growth of the market attributed to rising government initiatives in production of domestic meat and increasing pig population. The livestock segment is anticipated to expand at a rapid pace during the forecast period due to factors such as increasing concern regarding feed safety and rising number of organizations in swine feed industry.
The market in Asia Pacific is estimated to hold a key market share
On the basis of region, the swine feed market is categorized as Asia Pacific, North America, Latin America, Europe, and Middle East & Africa. The market of North America is anticipated to expand at a high CAGR during the forecast period due to rapid economic growth in region and rising awareness about the quality of meat consumed. The market of Asia Pacific is estimated to hold key market share due to increasing population, technological advancement in feed practices, and rising volume of pork production.
Segments Covered in the Report
The swine feed market has been segmented on the basis of
- Oil Seed Meal
- Cereal By Products
- Amino Acids
- Compound Feed Manufacturers
- Asia Pacific
- North America
- Latin America
- Middle East & Africa
- De Heus B.V.
- Nutreco N.V.
- Forfarmers B.V.
- Archer Daniels Midland Company
- Land O’ Lakes Inc.
- Charoen Pokphand Foods
- Cargill, Inc.
- Alltech, Inc.
- New Hope Group Co., Ltd.
- Agribusiness Holding Miratorg
- J.D. Heiskell & Co.
Key players competing in the swine feed market De Heus B.V., Nutreco N.V., Forfarmers B.V., Archer Daniels Midland Company, Land O’ Lakes Inc., Charoen Pokphand Foods, Cargill, Inc., Alltech, Inc., New Hope Group Co., Ltd., Agribusiness Holding Miratorg, and J.D. Heiskell & Co.
Some of these players are using several market strategies such as acquisitions, merger, collaborations, partnerships, capacity expansion, and product launches to enhance their market shares and to generate revenue and rise their production line of the business in the coming years.