ALBANY,
New York, August 6, 2014 – In its latest research report published
recently, Transparency Market Research states, the global compound
feed market is likely to reach USD 308.5 billion by 2017. The report
titled, “Compound Feed Market & Feed Additives Market - Global
Industry Size, Share, Segment and Geographic Analysis and Forecasts
(2007-2017)”, is available for sale on the company’s website.
Browse Full Report:
The
compound feed industry plays an important role in the food industry.
These are feeds are made especially for animals, taking into
consideration their specific nutritional requirements. Compound feeds
are a blend of several raw materials and additives. Compound feed is
produced to provide the livestock with nutritional meal. It is backed
with an intention of extracting the best quality of meat from them
meant for human consumption. The biggest market driver for compound
feed sector is the rise in the demand of animal derived products by
the exponentially increasing population. The other factor
contributing to the growth of compound feed market around the world
is the positive rise in disposable income.
The
development in the compound feed was seen the recent years due to
increased consumer awareness about the safety standards of animal
derived food. The technological change in production of compound feed
has truly revolutionized the quality of these feedstuffs, thus
improving the quality of meat in the market. Despite such powerful
market drivers, the market does suffer from certain restraints.
Rising cost of raw materials, and strict regulatory framework by the
governments is holding back the market’s growth. However, rise in
the prices of natural feed products is rapidly opening up
opportunities for the animal feed additives market.
Compound
feed contributes 70% of livestock production cost. Owning to this
contribution, it plays a significant role on the farmer’s
production cost and returns, as ample usage of compound feed assures
steady and increased supply of milk, eggs, and meat. Between 2007 and
2012 the global compound feed market grew at a rate of 3.94%.
Traditionally, swine feed is the biggest contributor to the growth of
compound feed sector. However, in the recent years, segments such as
aqua feed, poultry feed, cattle feed, and other animals have also
contributed significantly.
For
the longest time, North America has heralded the compound feed market
in terms of revenue. It reported revenue of USD 72.3 billion in 2010,
with signs of growth in the coming years. However, the aforementioned
market drivers will Asia one of the biggest contributors to the
industry of compound feeds in the coming years.
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