According to Market Statsville Group, the size of the global animal feed market was $ 39.1 billion in 2021 and should now $ 63.7 by 2030 recording of a 63.7% CAGR over the forecast period (2022-2030). Pet food is very essential because animals need nutrients according to their unique structure, so pet food companies collaborate with veterinary specialties and develop specific pet food to meet the needs of end users.
Factors such as increasing disposable income, tend to keep a pet and others drive the growth of the market during the forecast period.
Impact of COVID – 19 in the global animal feed market
COVID-19 has negatively impacted market growth due to global shutdowns and disrupted supply chains, which have been important factors hampering the growth of the pandemic. However, people have chosen to feed the animals around them and the supply has also been restored through e-commerce channels, which has had a positive impact on the growth of the market during the forecast period. Therefore, COVID-19 has had a significant impact on market growth.
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The scope of the global animal feed market
The study categorizes the animal feed market on the basis of type of animal, ingredients, source, form, regionally and globally .
After Pet Type Outlook ( sales, million USD, 2017 – 2030 )
- Others (rabbits, birds and horses)
By Ingredients Insights ( Sales, USD million, 2017 – 2030 )
- Corn and semolina
- Wheat and wheat flour
- Vegetables & Fruits
- I am and I am meals
- fish oil
- Poultry fat
- Vegetable oil
- Meat and meat products
- boned meat
- meat meal
- Flour by-products
- animal digestion
- Vitamins and minerals
- Others (tastes and colors)
By source Outlook ( sales, million USD, 2017 – 2030 )
- Of animal origin
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By Outlook form ( sales, million USD, 2017 – 2030 )
Outlook by region ( sales, million USD, 2017 – 2030 )
- North America
- United Kingdom
- Czech Republic
- The rest of Europe
- Asia and the Pacific
- South Korea
- Australia and New Zealand
- The rest of the Asia-Pacific
- South America
- The rest of South America
- Middle East and Africa
- Saudi Arabia
- United Arab Emirates
- South Africa
- North Africa
- The rest of the MEA
The dog segment is expected to account for the largest market share by pet type
On the basis of pet type, the pet food market is divided into dogs, fish, cats and other pets. In 2021, the dog food segment accounted for the majority of the market due to the new trend towards nuclear families and the growing consumer propensity for dogs for safety and companionship. In addition, dogs need different types of essential nutrients to live a healthy and quality life. Therefore, dog owners have focused on providing proper pet food containing essential nutrients to keep their pets healthy. These factors drive the growth of the market.
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Asia-Pacific represents Highest CAGR in the forecast period
On a regional basis, the global animal feed market has been segmented into North America, Asia – Pacific, Europe, South America, Middle East and Africa . Globally, the Asia-Pacific region is considered to have the highest market share and will have a large share in the forecast period. The region includes countries such as China, India, Japan, South Korea, Australia, Southeast Asia and the Rest of Asia – Peaceful . The growth in the region is attributed to the increasing demand for premium dog food. According to 2019 data from the Alltech Global Feed Survey, pet food production increased by 13% in the Asia-Pacific region in 2018. These factors will pave the way for market growth during the period.
Key market players in the global animal feed market
The global animal feed market is highly competitive. Major players in the industry adopt various strategies such as product development, partnerships, acquisitions, agreements and expansion to strengthen their positions in the market.
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The pet food market is easily concentrated in nature with few global players operating in the market, such as:
- Mars Incorporated
- Nestlé SA
- JM Smucker Company
- Colgate Palmolive Company
- GeneralMills, Inc.
- Diamond food for pets
- Heristo AG
- Dyrefoder Deuerer GmbH
- Merrick Pet Care, Inc.
- WellPet LLC