Swine Feed Market growing at a CAGR of 5.9% from 2023 to 2030
The global swine feed market size was estimated at USD 111,649.5 million in 2022 and is expected to reach USD 176,314.7 million by 2030, growing at a CAGR of 5.9% from 2023 to 2030. Rising consumption of pork meat is expected to drive the product demand in the market.
Key Market Trends & Insights
- Asia Pacific witnessed remarkable growth and emerged as the largest market in 2018.
- China accounted for nearly 50% percent of the global pork production in 2018.
- By form, the pellets segment emerged as the largest segment, both in terms of volume and revenue, in 2018.
- By additive, amino acids segment emerged as the largest segment, in terms of volume, in 2018 with a market share of 24.1%.
Market Size & Forecast
- 2022 Market Size: USD 111,649.5 Million
- 2030 Projected Market Size: USD 176,314.7 Million
- CAGR (2023-2030): 5.9%
- Asia Pacific: Largest market in 2022
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The product provides nutrition to swine and nurtures them. The additives are an important source of nutrition as they enhance as well as make the product more digestible. Enzymes, amino acids, antimicrobials, and antioxidants are the additives found in the diet of swine.
Feed additives, in particular, have been gaining tremendous popularity in the market on account of rising consumer awareness regarding their benefits that help in promoting swine health. Moreover, natural additives and their consumption have a negligible side effect on the swine health. Additives help in promoting optimum nutrition absorption and do not add pressure or interfere with the natural digestive enzymes secreted by the gut of swine.
Growing demand for animal protein including pork meat products is expected to augment the product demand. Additives such as amino acids, vitamins, antibiotics, and enzymes have been gaining tremendous popularity over the past few years as they help in improving immunity of swine and reduce the number of fatalities caused due to diseases. This is projected to drive the market growth over the forecast period.
Increasing consumption of pork in developing economies, such as China, India, and Brazil, is expected to fuel the demand for the product globally. North America is one of the major pork exporting regions and is expected to drive the demand for the product over the forecast period.
Product Insights
Newborn pigs growing at a faster rate are referred to as grower pigs. Grower pigs have high protein deposition capacity as well as better feed conversion rate.In the grower phase, intake is approximately in the range of 1.2 kg/day. The younger gilt is known as sow once it gives birth to a piglet.
Sow feed contains ingredients that help in supplying energy, protein, vitamin, mineral, and amino acid levels necessary for sows. Such a product helps fulfill the needs of sows and helps them remain healthy during lactation. Rising occurrences of diseases due to infected pork meat consumption have altered the product demand in South Africa. In addition, enhanced properties of additives are expected to lower the occurrence of animal epidemics, thereby fueling the demand for the product globally.
Swine Feed Market Report Scope
|
Report Attribute |
Details |
|
Market size value in 2023 |
USD 118,124.5 million |
|
Revenue forecast in 2030 |
USD 176,314.7 million |
|
Growth Rate |
CAGR of 5.9% from 2023 to 2030 |
|
Base year for estimation |
2022 |
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Historical data |
2014 – 2021 |
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Forecast period |
2023 – 2030 |
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Quantitative units |
Revenue in USD billion and CAGR from 2023 to 2030 |
|
Report coverage |
Revenue forecast, company ranking, competitive landscape, growth factors, and trends |
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Segments covered |
Product, form, additives, region |
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Regional scope |
North America; Europe; Asia Pacific; Central & South America; Middle East & Africa |
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Country scope |
U.S., Canada, Mexico, Spain, Russia, Germany, Netherlands, Italy, China, Vietnam, Thailand, South Korea, Brazil, Argentina, South Africa |
|
Key companies profiled |
Archer Daniels Midland Company; BASF SE; Koninklijke DSM N.V.; Associated British Foods plc; Lallemand, Inc.; Cargill, Inc.; and Alltech, Inc. |
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Customization scope |
Free report customization (equivalent up to 8 analysts working days) with purchase. Addition or alteration to country, regional & segment scope. |
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Pricing and purchase options |
Avail customized purchase options to meet your exact research needs. Explore purchase options |
