PUNE, India, November 29, 2017 /PRNewswire/ —
The report “Compound Feed Market by Ingredient (Cereals, Cakes & Meals, By-products, and Supplements), Form (Mash, Pellets, and Crumbles), Livestock (Ruminants, Swine, Poultry, and Aquaculture), Source, and Region – Global Forecast to 2022“, published by MarketsandMarkets™, the market for compound feed, in terms of value, is estimated at USD 428.09 Billion in 2017 and is projected to reach USD 530.92 Billion by 2022, at a CAGR of 4.4 % from 2017.
Browse 123 Market Data Tables and 63 Figures spread through 200 Pages and in-depth TOC on “Compound Feed Market – Global Forecast to 2022”
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Increasing demand for meat and dairy products and increasing focus on innovations in the animal husbandry sector have led to increased consumption of compound feed. Furthermore, the growth of domestic and international food chains and restaurants, growth in feed production and organized livestock sector in developing countries, and increasing awareness toward precision nutrition techniques are other factors driving the global Compound Feed Market growth.
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The cereals segment accounted for the largest share during the forecast period.
In 2016, on the basis of ingredients, the cereals segment accounted for the largest share, in terms of both value and volume. Cereals are the major source of energy and are used in a higher quantity to fulfill the energy requirements of livestock. High energy diets majorly consisting of cereals and the increasing demand for high energy diets to enhance the performance of the livestock have resulted in the growth in the demand for cereals.
Poultry: The fastest-growing livestock in the Compound Feed Market
In 2016, the poultry segment accounted for the largest share of the Compound Feed Market, in terms of value, and is projected to grow at the highest CAGR from 2017 to 2022. There is an increasing demand for white meat across the globe as the demand for a high protein diet is increasing. This has led to an increase in the production of poultry, which has ultimately fueled the demand for poultry feed. Also, the increasing commercialization of poultry in the developing countries has driven the consumption of compound feed.
Asia Pacific accounted for the largest share of the global Compound Feed