Global Feed Market Size Projected To Exceed $90 Billion During 2020-2024

Financialnewsmedia.com News Commentary

PALM BEACH, Florida, March 26, 2020 /PRNewswire/ -- Numerous recent reports have projected that the worldwide feed market will continue to show growth for the next several years. A report from Mordor Intelligence said that The Compound Feed Market is projected to grow at a CAGR of 4.8%from 2020 through 2025. The growing demand for meat and aquaculture products is the major driving force behind the growth of the compound feed market. Increased awareness regarding quality meat and milk products and increased livestock production are two other factors augmenting the growth of the market studied. The growing demand for meat and aquaculture products is helping to sustain the growth. Compound feed is a mixture of raw materials and supplements fed to the livestock, sourced from either plant, animal, organic or inorganic substances, or industrial processing, whether or not containing additives. While soybean, corn, barley, wheat, and sorghum are the most commonly used raw materials, vitamins, minerals, and amino acids are the most common additives blended to form compound feed.  Active healthcare stocks in news today include:  China Xiangtai Food Co. Ltd. (NASDAQ: PLIN), The Hain Celestial Group, Inc. (NASDAQ: HAIN), Beyond Meat, Inc. (NASDAQ: BYND), Hormel Foods Corporation (NYSE: HRL), Sysco Corporation (NYSE: SYY).

Another report, this one from Technavio, projects that the global animal feed market size has the potential to grow by USD $92.79 billion during 2020-2024, and states that the market's growth momentum will accelerate throughout the forecast period. The market is currently fragmented, and the degree of fragmentation will increase during the forecast period. Market vendors are focusing on new product launches and mergers and acquisitions to strengthen their position in the animal feed market Archer Daniels Midland Co., Cargill Inc., and Charoen Pokphand Foods Plc are some of the major market participants. Though the accelerating growth momentum will offer immense growth opportunities, the high price of non-GMO animal feed will challenge the growth of the market participants. To increase their animal feed market share, companies should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.