SWINE FEED MARKET ANALYSIS

Swine Feed Market Size and Trends

The swine feed market is estimated to be valued at USD 109.83 Bn in 2024 and is expected to reach USD 147.47 Bn by 2031, exhibiting a compound annual growth rate (CAGR) of 4.3% from 2024 to 2031.

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The global swine feed market is expected to witness positive growth over the forecast period. Increasing meat consumption worldwide primarily driven by rising population is expected to drive the demand for pork which, in turn, is expected to boost the growth of the swine feed market. Growth in the demand for animal protein coupled with rising disposable income especially in developing regions is expected to support the market growth. Additionally, various initiatives undertaken by government and market players to increase pork production are also expected to have a positive impact on the swine feed market. However, stringent regulations pertaining to the use of antibiotics and growth hormones in swine feed may hamper the market growth to some extent over the forecast period.

Drivers of the Market:

Pig farming growth

The growth of pig farming across major pork producing countries has been one of the key drivers for the swine feed market in recent years. There has been a significant rise in pork consumption globally due to increasing population, rising incomes, and changing food preferences. Countries like China, the U.S., Brazil, and Germany have seen huge increases in pig livestock numbers over the last decade alone. Pork is now becoming a widely consumed meat in many developing Asian and Latin American countries.

This rise in pig farming has encouraged farmers to expand their operations and increase herd sizes to meet the growing demand. Larger farms now house thousands of pigs and require huge volumes of specialized feed products. Feeding high-quality nutritional feed to commercial pig stocks is crucial for their optimal growth performance and timely production cycles. Farmers leave no stone unturned to source the best quality swine feed mixes and nutritional supplements. Leading feed producers have capitalized on this trend by introducing innovative formulations tailored for various growth stages of pigs. They also provide expert guidance to farmers for efficient feeding practices.

Market Concentration and Competitive Landscape

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Pressure on feed costs

Rising costs of key feed ingredients like corn, soybean, and wheat have accentuated pressures on pig farmers to optimize feed efficiencies and control input costs. Unpredictable global commodity price volatility in wheat and corn markets poses a major challenge. Issues like changing climate conditions affecting crop productions, export restrictions by producing countries, and crude oil price fluctuations strongly impact feed prices. Reliance on imported supplies also makes local feed prices subject to currency exchange rates. With tight margins in meat business, high ration costs can quickly erode profits.

At the same, protein sources for feeds also become costlier as demand rises from other livestock and aquafeed sectors. Thus, competition for supplies intensifies among users. This scenario forces farmers to closely monitor market trends and proactively manage procurement strategies.

Key Takeaways from Analyst:

The global swine feed market is expected to grow steadily over the forecast period driven by the rising demand for pork meat worldwide. China and the U.S. are the two largest pork producers globally and any changes in production and consumption in these countries will have a huge impact on the swine feed market. The North Ameica region dominates the market currently due to the presence of large pork consuming nations. However, the market in Asia Pacific and Europe is projected to experience moderate growth.

The market is anticipated to face slight challenges due to fluctuations in the prices of key feed ingredients including corn, soybean meal, and wheat which account for over 70% of the total feed production cost. Substitution of these commodities with alternative ingredients can provide an opportunity for feed producers to decrease costs. Rising awareness about feed quality and safety amongst farmers is encouraging the use of specialty feed additives and synthetic amino acids. This trend is likely to continue over the coming years.

The consumption of pork meat is rising rapidly in populous developing nations driven by increasing incomes, westernization of diets, and expanding urban middle class population. This growing demand from pork farmers to fatten their pigs and meet quality standards set by importers will support feed production volumes. Feed producers can leverage technology and automation to improve efficiencies and production capacities to capitalize on this opportunity.

Challenges: Threat of disease outbreaks

The threat of disease outbreaks is significantly restraining the growth of the global swine feed market. Swine feed production and consumption is directly correlated with the swine production industry. Any disease outbreaks among swine herds poses a major risk to the stability and growth of the entire industry.

Opportunities: Emerging markets in Asia Pacific and Latin America

The emerging markets in Asia Pacific and Latin America offer significant potential for growth in the global swine feed market. These regions are experiencing rapid urbanization and economic development which has led to significant changes in diets and consumption patterns. As incomes rise in developing countries, the demand for protein sources like pork is increasing substantially. 

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Insights by Product Type: Farmers' Preference for Optimal Growth Drives Grower Feed Demand

In terms of product type, grower feed is expected to contribute 36.4% share of the market owing to its ability to support optimal growth in young pigs. Grower feed is formulated to meet the nutritional needs of pigs from weaning until around 70 pounds. During this growth period, young pigs require balanced dietary levels of essential proteins, vitamins, and minerals to efficiently gain body mass and build strong bone structures. The feed composition is adjusted with focus on muscle building and steady weight gain without excess fat deposition.

Most farmers prefer grower feed because it allows pigs to grow at their genetic potential in a short period of time. Optimal nutrient intake during the growing phase establishes a healthy foundation for pigs to thrive later in their lifecycle. Competitively priced grower rations ensure maximum returns from limited livestock housing space for farmers. Leading manufacturers focus on continuous feed formulation innovations to deliver the ideal nutrient profile supporting 1.5 to 2 pounds average daily gain in pigs. Such growth performance boosts the productivity and overall commercial viability of pig farms. Therefore, grower feed remains the preferred product type among farmers to drive rapid yet balanced growth during the post-weaning development phase of pigs.

Insights by Ingredient: Corn's Abundance and Nutritional Value Upholds Dominance

In terms of ingredient, corn is expected to contribute 29.5% share of the market in 2024, owing to its widespread availability and balanced nutrient composition. Corn is one of the most accessible and affordable cereal grains globally, making it a predominant choice for swine feed formulations. It contains highly digestible starch, crude protein, fiber, trace minerals, and vitamins important for pig nutrition. The energy-rich carbohydrates in corn support optimal weight gain and muscle development in growing pigs. Corn protein consists of essential amino acids that complement soybean meal as a balanced dietary protein source. Phosphorus from corn also helps with bone mineralization in young animals.

Being such an ideal dietary energy and protein provider, corn is extensively used across various product types including starter, grower, and finisher feed. Leading manufacturers leverage corn as the principal cereal grain ingredient to produce cost-effective rations. Small-holder pig farmers also find corn inclusion favorable for its steady supply and relatively stable market prices compared to other grains. Given corn's widespread cultivation, continuous harvests ensure consistent availability in pig producing regions across the world. Owing to these agronomic and nutritional merits, corn maintains its dominance as the chief dietary component in most commercial swine diets.

Insights by Supplement: Antibiotics' Role in Growth Promotion and Disease Prevention

In terms of supplement, antibiotics is expected to contribute 30.3% share of the market in 2024, due to their utility as growth promoters and preventive disease control agents in pig production. During the post-weaning period, young pigs experience stress due to transportation, co-mingling with unfamiliar herd mates and changes in diet and environment. This transient immunosuppression often leads to increased incidence of digestive disorders and infectious diseases. Inclusion of low dosage antibiotics in starter and grower feed helps control opportunistic bacterial infections and promotes overall gut health in weanling pigs.

Prophylactic antibiotic supplementation plays a significant role in stabilizing the establishment of beneficial gut microflora and maximize nutrient absorption from feed. Growth promoting effects arise as antibiotics inhibit pathogen colonization and allow pigs to effectively utilize dietary nutrients for body weight gain and lean muscle growth. Additionally, antibiotics selectively suppress harmful bacteria and curb microbial competition for nutrients in the intestine. This nutrient sparing action further enhances growth performance parameters in livestock production.

Regional Insights

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North America has remained the largest regional market for swine feed over the past decade. The region is expected to account for 35.6% of the market share in 2024. Led by the U.S., the region is home to many agricultural heavyweights and boasts a large-scale pork production sector. Farmers in the U.S. rely heavily on specialized swine feeds to fuel efficient growth and maximize productivity of their large herd sizes. Proximity to corn - the primary feedstock - allows low-cost formulation of nutrient-dense swine rations. Large feed manufacturers have established a strong manufacturing footprint and distribution networks to cater to the industrialized farming system prevalent across the Midwest. Stringent specifications from meat processors have also propelled feed innovators to develop customized formulations to produce leaner meat profiles.

The Asia Pacific region has emerged as the fastest growing market for swine feed in recent years. Pork accounts for a significant part of the daily protein intake in many Asian diets. Rapid economic development and urbanization and rising disposable incomes have lifted meat consumption across developing nations like China and Vietnam. Local producers are scaling up operations and adopting intensive rearing practices to meet this burgeoning domestic demand. However, feed mills still lag the maturation seen in the West, with imports filling the gap. Environmental regulations around the use of antibiotics are also less stringent compared to Europe and North America, providing options to manufacturers. Investments into localized feed manufacturing facilities and import terminals indicate efforts by global players to capitalize on Asia Pacific voracious appetite for pork and compound feed.

Market Report Scope

Swine Feed Industry News

• In March 2024, DSM-firmenich launched a new adaptative nutrition concept for pigs
• In 2022, ADM, a global leader in human and animal nutrition, announced the launch of two products under its SUCRAM range, an in-feed sweetening solution for livestock species
• In 2020, Chia Tai Investment Co. Ltd (CTI), an indirect subsidiary of CPF, acquired 43 companies of Chia Tai Animal Husbandry Investment (Beijing) Co. Ltd which are involved in the swine business. This agreement created business opportunities for the company to penetrate more markets with high growth potential.
• In 2021, the company partnered with BASF in the animal nutrition business, adding research and development capabilities and new markets to the partners’ existing feed enzymes distribution agreements. This partnership helped develop, produce, market, and sell customer-centric enzyme products and solutions for animals, including swine.

*Definition: The swine feed market consists of companies that manufacture and sell feed for pigs and hogs. This includes balanced nutritional formulas made from grains like corn and soybean meal as well as additives that improve digestion, growth, and overall health. Key components are proteins, calories from carbohydrates and fats, vitamins, minerals, and essential amino acids. The swine feed industry supplies both commercial livestock operations and small backyard pig farms. Product selection ranges from starter feeds for young piglets to complete feeds for breeding and market swine.

Market Segmentation

•  Product Type Insights (Revenue, USD Bn, 2019 - 2031)
  • Starter Feed
  • Grower Feed
  • Sow Feed
  • Others
•  Ingredient Insights (Revenue, USD Bn, 2019 - 2031)
  • Corn
  • Soybean Meal
  • Wheat
  • Barley
  • Oats
  • Others
•  Supplement Insights (Revenue, USD Bn, 2019 - 2031)
  • Antibiotics
  • Vitamins
  • Antioxidants
  • Amino Acids
  • Acidifiers
  • Enzymes
  • Other Types
• Regional Insights (Revenue, USD Bn, 2019 - 2031)
  • North America
    • U.S.
    • Canada
  • Latin America
    • Brazil
    • Argentina
    • Mexico
    • Rest of Latin America
  • Europe
    • Germany
    • U.K.
    • Spain
    • France
    • Italy
    • Russia
    • Rest of Europe
  • Asia Pacific
    • China
    • India
    • Japan
    • Australia
    • South Korea
    • ASEAN
    • Rest of Asia Pacific
  • Middle East & Africa
    • GCC Countries
    • Israel
    • Rest of Middle East & Africa
• Key Players Insights
  • BASF SE 
  • Charoen Pokphand Foods PCL
  • Cargill Incorporated
  • Land O' Lakes Inc.
  • ADM
  • KENT Nutrition Group
  • Forfarmers
  • DLG Group
  • Nutreco
  • J.D. Heiskell & Co.
  • De Heus Animal Nutrition
  • Novus International Inc.
  • Nutreco NV
  • Lallemand Inc.
  • Alltech Inc.
  • Chr Hansen Holding A/S
  • Uniray Lifesciences
  • Amino Pharma
  • ForFarmers
  • Lloyds Animal Feeds