Starter Feed Market Insights Demand, by Application with Forecast 2030
The Starter Feed Market is anticipated to reach USD 46.10 billion
by the end of 2030, with a projected compound annual growth rate of 7.22%
between 2022 and 2030.
Starter feed is a mixture of highly digestible protein products, acidifiers,
probiotics, palatability agents and enzymes and is prepared commercially for
livestock animals. These ingredients improve the feed performance when added to
the available raw material. According to the
report published by Market Research Future (MRFR), the global starter
feed market is registered to expand at a significant rate during the forecast
period of 2022-2030.
Market Drivers and Restraints:
Starter feed offers additional nutrients to the animal feed
and enhances the digestion process, immune system and feed intake in the
livestock. High nutritional benefits that are obtained from starter feed as
compared to conventional feed is inducing high demand for starter feed in the global
market, which in turn is propelling the growth of the global starter feed
market.
Furthermore,
starter feed also improves the health of livestock and aids in improving the
yield quality and quantity. Hence, growing concerns regarding the health of
livestock and increasing global demand for poultry, meat and dairy products is
generating demand for high-quality feed,
leading to the expansion of the global starter feed market. Rapid adoption of advanced technology for easy
production and enhancement in the quality of feed are projected to be impacting
positively on the growth of the global starter feed market.
On the flip side,
easy availability of alternatives such as conventional feed and high cost of manufacturing are some of the
factors that are restraining the growth of the global starter feed market
during the forecast period.
Market Segmentation:
The global Starter Feed Market Outlook has been segmented on the basis of type, form and livestock. Based on type, the starter feed market is segmented into medicated and
non-medicated. The medicated segment in accounts for the major share in the
global starter feed market as they provide multiple health supporting
properties.
Based on form,
the starter feed market is segmented into mash, pellets and others. The pellets segment is dominating the global starter
feed market owing to the ease of handling, storage and feeding of pellets as compared to other forms of feed. Based on
livestock, the starter feed market is segmented into poultry, ruminants, swine,
aquatic and others. The poultry segment is the largest segment in the global
starter feed market due to the increased consumption of poultry products,
globally.
Regional Analysis:
Geographically,
the global Starter Feed Market Insights are segmented into four major regions, namely, Europe, North America, Asia Pacific and the rest of
the world. Among these, the North America region is projecting dominance
over the global starter feed market owing to the high demand for good quality
poultry and meat products in this region. The starter feed market in the Asia
Pacific region is growing at a significant rate due to increasing consumption of poultry and meat products and growing
awareness regarding the health of livestock in this region. Increasing demand
for poultry products in the countries like Germany and the U.K. is boosting the
starter feed market in the Europe region.
Industry Updates:
In August 2018, the study carried out by the
researchers from Osnabrück University of Applied Sciences (Germany) has
concluded that inclusion of humic acids
in starter feed leads to increased feed consumption in just-weaned piglets.
In June 2018,
Biomin, an international animal-nutrition company that markets phytogenic feed additives (PFAs) for cattle,
swine and other animals, has recently completed a global survey and concluded
that the phytogenic feed additives are
gaining more attention in the global market due to their digestibility
enhancement and antimicrobial effects.
According to the
MRFR reports, the global Starter Feed Market Size is likely to attain a over
USD 46.10 Billion by the end of 2030 while flourishing at a healthy CAGR of
over 7.22% during the forecasted era.
Key Players:
The major players that are profiled by MRFR in the report on the
global starter feed market are Associated British Foods Plc (the U.K),
Archer-Daniels-Midland Company (the U.S.), Cargill Inc. (the U.S.), Purina
Mills, LLC (the U.S.), Evonik Industries AG (Germany), Roquette Frères S.A.
(France), Godrej Agrovet Limited (India), Nutreco N.V. (the Netherlands),
Alltech, Inc. (the U.S.), and Charoen Pokphand Foods PCL (Thailand).
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