The global compound feeds and additives market size was US$ 40.1 billion in 2021. The global feeds and additives market is forecast to grow to US$ 66.1 billion by 2030 by registering a compound annual growth rate (CAGR) of 9.1% during the forecast period from 2022 to 2030.
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The U.S. Bureau of Economic Analysis and the U.S. Census Bureau reports that the goods and services deficit rose from $68.7 billion in January 2023 to $70.5 billion in February, an increase of $1.9 billion. Due to a $2.7 billion increase in the goods deficit to $93.0 billion and a $0.8 billion increase in the services surplus to $22.4 billion, the goods and services deficit increased in February. The goods and services deficit has decreased this year by $35.5 billion, or 20.3% when compared to the same period in 2022. $10.8% more, or $49.5 billion, was exported. Imports cost $2.2% more, or $14.0 billion, than exports.
Factors Influencing the Market
The global compound feeds and additives market is forecast to witness ample growth opportunities due to rising consciousness related to animal health.
The compound feed and additives market is driven by the growing global demand for animal products. The demand for high-quality feed that offers the required nutrients is increasing as livestock farmers throughout the world attempt to fulfil the expanding demand for livestock. Thus, it will offer lucrative growth opportunities for the industry.
Animal farmers are increasingly aware of the hazards to animal health and the significance of employing high-quality compound feed and feed additives to protect their goods. Thus, it will contribute to market growth.
Factors such as rising consumption of livestock-based products and advances in feed production will drive the market forward. On the flip side, antibiotic restrictions implemented in various countries may limit the growth of the compound feeds and additives market during the study period.
Regional Analysis
The Asia-Pacific compound feeds and additives market is forecast to record the highest growth rate. The growth of the market is attributed to the rising awareness related to the high-quality animal feeds in the region. Further, the region is also one of the largest regions in terms of the production capacity of compound feeds and additives. As a result, it will fuel the growth of the compound feeds and additives market.
China is among the largest producer and users of compound feed, followed by India. As a result, it is driving the region’s dominance. Further, the growing use of new feed industry processes, machinery, science, and feed quality control, will escalate the growth of the compound feeds and additives market.
Europe is expected to record significant growth due to rising investments in the production of novel feed. In addition, strict feed regulations will drive the demand for high-quality products, thereby offering lucrative growth opportunities for the compound feeds and additives market.
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COVID-19 Impact Analysis
Due to the COVID-19 pandemic, the compound feeds and additives market witnessed manufacturing disruption followed by lockdown across various countries. As a result, it impeded the growth of the compound feeds and additives market. However, farming practices kept growing due to growth in consumer demand for food, which has been beneficial for the compound feeds and additives market.
Competitors in the Market
? Cargill
? Kent Corporation
? White Oak Mills
? Wenger Group
? Alltech
? Hi-Pro Feeds
? Alan Ritchey
? Purina Animal Nutrition
? Tyson Foods
? Other Prominent Players
Market Segmentation
The global compound feeds and additives market segmentation focuses on Source, Product Form, Ingredients, Livestock Feed, and Region.
By Source
? Plant
? Animal
? Others
By Product Form
? Crumbles
? pellet form
? mash form
? Others
By Ingredients
? Cakes and Meals
? Cereal Ingredients
? Supplements
? Milling by-products
? Other
By Livestock Feeds
? Aquaculture Feed
? Swine Feed
? Ruminants Feed
? Poultry feed
? Other
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By Region
�?� North America
o The U.S.
o Canada
o Mexico
�?� Europe
Western Europe
o The UK
o Germany
o France
o Italy
o Spain
o Rest of Western Europe
Eastern Europe
o Poland
o Russia
o Rest of Eastern Europe
�?� Asia Pacific
o China
o India
o Japan
o Australia & New Zealand
o ASEAN
o Rest of Asia Pacific
�?� Middle East & Africa (MEA)
o UAE
o Saudi Arabia
o South Africa
o Rest of MEA
�?� South America
o Brazil
o Argentina
o Rest of South America
What is the goal of the report?
? The market report presents the estimated size of the market at the end of the forecast period. The report also examines historical and current market sizes.
? During the forecast period, the report analyzes the growth rate, market size, and market valuation.
? The report presents current trends in the industry and the future potential of the North America, Asia Pacific, Europe, Latin America, and the Middle East and Africa markets.
? The report offers a comprehensive view of the market based on geographic scope, market segmentation, and key player financial performance
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