The market for compound feed is expanding mostly due to changing customer preferences for food made from animals. The market is also developing as a result of rising consumer knowledge of the health benefits of animal-sourced protein and the consequent rise in the intake of meat, eggs, and milk. Additionally, rising disposable income is encouraging market expansion, particularly in developing nations like Brazil and India. Over the course of the forecast period, a rise in the consumption of seafood, particularly fish, is anticipated to boost market growth. Fish is a popular protein source that is sought after globally, making up 10% of animal protein sources in North America and Europe and up to 26% of animal protein sources in Asia and Africa. As a result, processed products are being driven by the high accessibility of fish protein on a global scale. Manufacturers of animal feed have a chance to boost animal productivity due to the rising demand for processed meat and other animal products.
Coherent Market Insights projects that the market for Compound Feeds was estimated at USD 458,410.80 million in 2021, and from 2022 to 2030, it is predicted to increase at a compound annual growth rate (CAGR) of 4.10%.
Top Companies in the Compound Feed Industry:
1. Charoen Pokphand Foods PCL,
The firm was founded in 1978 and has its main office in Bangkok, Thailand. The company manufactures a variety of food items. Duck, chicken, pork, prawns, fish and eggs are among the products offered by the company. The business investigates and creates organic animal breeds.
2. Cargill Inc.
The company was established in 1865 and is based in Minnetonka, Minnesota, U.S. The business cultivates grains and oilseeds, offers risk management tools and services to farmers, as well as meat and poultry, food, industrial goods, biofuels, and items for animal nutrition. Cargill plans to build a new plant in Washington State to serve consumers in the region when it grows its retail feed operation in May 2023.
3. Land O’ Lakes Inc. (Purina Mills)
The company was started in 1921 and has its main office in Arden Hills, Minnesota, U.S. Dairy goods are distributed and made by Land O'Lakes, Inc. The business creates food items as well as promotes and distributes associated goods like spreads, cheese, milk, butter, and other dairy products.
4. Alltech Inc.
The company was started in 1980 and is based in Nicholasville, Kentucky. Alltech creates agricultural goods for use in the production of crops and livestock as well as goods for the food sector. Egalis® superior silage inoculants were released by Alltech in nov 2022. Alltech launched Vietnam's first facility for the manufacturing of organic minerals in November 2022.
5. Archer Daniels Midland Company
The firm was started in 1902 and has its headquarters in Chicago, Illinois, United States. The business purchases, moves, stocks, and merchandises agricultural products and commodities. The business processes oilseeds, corn, milo, oats, wheat and barley. In addition, Archer-Daniels-Midland processes and produces items with primarily two end uses, such as ingredients for food or feed.
6. ForFarmers
The business was started in 1896 and has its main office in Netherlands. A multinational company called ForFarmers offers comprehensive, cutting-edge feed solutions for both conventional and organic livestock husbandry. ForFarmers sold Arvesta their operations for compound feed in Belgium in April 2023.
7. Nutreco NV
The company was founded in 1994 and is based in Amersfoort, Netherlands. Animal nutrition and feeds are made by Nutreco N.V. For pigs, poultry, ruminants, and fish, the company supplies premixes and specialised feed products. Leading provider of solutions for animal nutrition, Nutreco also provides other services.
Definition: A significant component of the animal nutrition market, compound feeds produce more than 1 billion tonnes a year. About one-third of the protein in the world is produced by livestock when they transform complex feed into animal protein and milk.
