Global Swine Feed Market - 2020-2027
Swine feed is formed using rice bran, broken rice, maize, soya-beans, cassava, vegetables and distillers' residues. Pigs are generally single stomached and monogastric animals. Rising consumption of swine meat can increase the demand for the product. The product provides nutrition to swine and helps in the reproduction of swines.
The swine feed market size was worth US$ XX billion in 2020 and further expected to reach US $ XX billion by 2027, with a CAGR of XX% during the forecast period (2020-2027).
Increasing volumes of pork production, including demand for good quality meat from pork, will be expected to contribute to the rising demand for swine feed the world. Swine feed can be in several appearances, including cereals, cakes, meals, vitamins, minerals, and fats and oils.
Swine feed offers numerous nutritional advantages as it is rich in fiber content, vitamins, and minerals. The consumption of pork is increasing in newer markets and is, thus, expected to push the demand for related feed globally.
Increasing Pork Meat Demand
The growing demand for pork as well as increasing population, is expected to boost the swine feed market growth during the forecast period. Well-bred and quality meat will further boost the need for swine feeds in the global market throughout the forecast period.
Rapid Growth In Swine Feed Consumption In The Asia Pacific
Asia-Pacific region has the highest share in terms of swine feed market. However, Europe and China has the majority of the pig population in the world. The demand for swine feed in Asia-Pacific is steadily rising. Thus, the rising demand will boost the performance of the swine feed market globally. Another factor which is important for the swine feed market is rising population of pigs in china, as their everyday diet include pork meat.
COVID-19 Impact Analysis
COVID-19 affected the global economy in many forms, such as directly affecting demand and production, supply chain distraction, and financial impact. COVID-19 pandemic has directly impacted the manufacturers' supply chain across the globe. During COVID-19, the demand for food and meat has increased. Despite rise in demand for meat, supply chain have seen a disruption between producers and the end market. Disruptions in supply chain has resulted in the wastage of the fresh meat. Global export of meat has reduced due to the COVID-19 pandemic.
Based on the product, the swine feed market has been classified as- starter feed, grower feed, sow feed and others.
Starter Feed- This diet is provided to the swine at the age of 5-6 months, or to be used as early weaned pigs after prestarter. Sow Feed- Sow feed contains ingredients that help in supplying energy, protein, vitamin, mineral, and amino acid levels necessary for sows. Such type of 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.
Based on the type, the swine feed market has been classified as- pellets, crumbles, mash and others.
Pellets held the highest market share
Pellets segment emerged as the largest form type segment, both in terms of volume and revenue, in the swine feed market. The growth can be attributed to excellent palatability, improvement in feed efficiency, and increased swine performance.
Based on the ingredients, the swine feed market has been classified as- cereals, cereals by products, oils, molasses, other (supplements).
Swine feed is primarily made from ingredients such as cereals that are grown by utilizing chemical, pesticides, and fertilizers. The easy availability of these feeds at affordable prices in the market has driven the growth of the cereals in terms of value sales.
Based on the supplements, the swine feed market has been classified as- vitamins, antibiotics, antioxidants, amino acids, enzymes, others (acidifiers).
Vitamins are likely to poise the highest market share in the coming years
Vitamins naturally exist in most ingredients, however, to provide proper nutrition, additional vitamin supplements are mixed in livestock feeds. Vitamin A, Vitamin D, Vitamin E, Vitamin K, and riboflavin are the majorly used vitamin additives and these are added as supplements into the mixture to improve and maintain animal health, thus propelling the segment growth.
Based on geography, the study analyzes the swine feed market in the global market, including Europe, Asia-Pacific, North America, South America, and the Middle East & Africa.
Asia-Pacific Leads The Global Swine Feed Market Throughout The Forecast Period
Asia-Pacific dominates the swine feed market in terms of value and volume due to the rising consumption and production for pork. Owing to high consumption demand of pork meat, the Asia-Pacific region holds the largest market share for swine feed products. Also, South East Asia is the largest exporter and producer of pork in the world which is followed by Europe & North America. Pork meat is consumed in the region from ancient times and is the most preferred meat due to its fat content and taste. China is the major market for pork production, followed by Vietnam, Thailand, South Korea, Japan and Philippines. Japan, South Korea and Taiwan are the saturated markets for pork consumption, while Vietnam and Philippines are the emerging markets.
The swine feed market is highly competitive, due to the few large key players with significant market shares in the swine feed market. The key swine feed players which are contributing to the growth of the global market include BASF, Land O Lakes Purina, Nutreco NV, Archer Daniels Midland Midland, Alltech Inc., Cargill Inc., Koninklijke DSM, Ridley Corporation Limited, Kent Nutrition Group Inc., and BENEO GmbH. The major competitors are adopting new expansion strategies for global growth in the swine feed market.
Overview: Nutreco N.V. , a Dutch producer of animal nutrition, processed meat products and fish feed. Also, It has near about 100 production facilities in 30+ countries, and 8 research centers. It was founded in 1994 after a Cinven-backed management buyout of the feed and nutrition division of BP.
Product Potfolio: The Company's products include swine feed, fish feed, and processed meat products.
The swine feed market report would provide access to an approx. 60 market data table, 72 figures and 270 pages.
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