"Starter Feed Market Growth for USD 48.3 Billion by 2032 with 7.22% CAGR"
Starter Market Forecast
Starter feed market is observing an exponential growth based on its high usage in the feed industry. They offer additional nutrients such as minerals, antioxidants, amino acids, and vitamins to the animal feed. They are used for improving the feed quality and animal health by reducing livestock diseases. Starter feed is majorly natural or synthetic ingredients that are added to the feed in order to improve the feed performance. The major types of starter feed include medicated and non-medicated.
In 2022, the Starter Feed Market Size reached USD 25.8 Billion. The industry is poised for growth, with projections indicating an increase from USD 27.6 Billion in 2023 to USD 48.3 Billion by 2032. This expansion reflects a compound annual growth rate (CAGR) of 7.22% throughout the forecast period spanning from 2023 to 2032. The market's growth is driven by escalating concerns related to animal health and welfare, the emphasis on feed efficiency, advancements in feed formulation technology, the continual expansion of the livestock and poultry sectors, and heightened investments in animal agriculture. These factors align with the growing demand for animal protein, contributing significantly to the enhanced growth of the market.
With the growing consumer awareness regarding livestock health, growing concerns about animal nutrition and their healthy eating habits, the demand for starter feed has increased to a greater extent. Starter feed provides additional nutrients and improves the quality of livestock feed. Additionally, increasing demand for animal feed products with high nutritional content is driving the growth of the starter feed market. Furthermore, advance processing methods & technologies, and high opportunities in developing countries are positively supporting the growth of the market.
However, the high cost of processing and raw materials may hamper the starter feed market over the review period. The market players are responding to these new opportunities by expanding their service offerings/product lines, which has boosted the share of the starter feed in the global market.
Downstream analysis:
The global starter feed market is segmented into type, form, and livestock.
On the basis of the type, it is segmented into medicated, and non-medicated. Among both, the medicated type holds the major market share followed by the non-medicated type.
On the basis of the form, it is segmented into mash, pellets, and others. The pellets segment is dominating the market. Ease of storage, handling, and feeding has uplifted the demand for the pellets form.
On the basis of the livestock, the starter feed market is segmented into poultry, swine, ruminants, aquatic, and others. Among all, the poultry segment is dominating the market.
Competitive analysis
The major players in the starter feed market
- Associated British Foods Plc (U.K)
- Archer-Daniels-Midland Company (U.S.)
- Cargill Inc. (U.S.)
- Purina Mills, LLC (U.S.)
- Evonik Industries AG (Germany)
- Roquette Frères S.A. (France)
- Godrej Agrovet Limited (India)
- Nutreco N.V. (the Netherlands)
- Alltech, Inc. (U.S.)
- Charoen Pokphand Foods PCL (Thailand)
Regional Analysis
The global starter feed market is segmented into North America, Europe, Asia Pacific, and rest of the world (RoW). The North American region is dominating the starter feed market followed by Asia Pacific owing to rising population followed by increasing consumption of poultry & meat products in both the regions. The U.S. dominates the North American starter feed market owing to increasing awareness regarding livestock health in these regions.
Moreover, high demand for nutritive animal feed products for overall growth & development of animals is driving the market growth in the Asia Pacific region and is further anticipated to uplift the growth of starter feed market during the forecast period.
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