Animal Feed Market to Reach $1,008.8 Billion by 2031--Exclusive Report by Meticulous Research

REDDING, Calif., May 14, 2024 /PRNewswire/ -- According to a new market research report titled 'Animal Feed Market Size, Share, Forecast, & Trends Analysis by Type (Compound Feed, Roughages), Source (Plant, Animal, Novel), Form (Dry (Pellets), Wet), Animal Type (Poultry, Ruminants (Beef, Dairy Cattle), Swine, Aquaculture) — Global Forecast to 2031, the animal feed market is projected to reach $1,008.8 billion by 2031, at a CAGR of 4.7% during the forecast period 2024–2031. In terms of volume, the animal feed market is projected to reach 2,965 million tons by 2031, at a CAGR of 3.1% during the forecast period of 2024–2031.

Download Sample Report Now- https://www.meticulousresearch.com/download-sample-report/cp_id=5393 

Animal feed is a formulated mixture of ingredients intended to provide the necessary nutrients and energy for the proper growth, development, productivity, and maintenance of animals. Animal feed is an integral part of modern animal husbandry and is used for a wide range of animals, including poultry, ruminants, swine, aquatic animals, and pets at different stages of their life. Increasing economic development and urbanization drive the demand for meat, dairy, and other livestock products.

To meet the rising demand for meat and other animal products, animal farming is rapidly increasing globally. Consequently, the livestock sector has become increasingly industrialized in recent years. Industrial systems have significantly improved agricultural productivity and increased meat and dairy output. Large herds reared for meat and dairy products require high-quality, nutritious feed for proper growth and development, creating a strong demand for animal feed. Feed provides animals with the necessary nutrients, promotes growth and good health, and contributes to sustainable and efficient livestock production. The increasing commercialization of the livestock sector and rising livestock populations are driving the growth of the animal feed market.

In recent years, the global animal feed market has witnessed several product launches, expansions, mergers & acquisitions, and partnerships, agreements, and collaborations. The key players operating in the global animal feed market are Charoen Pokphand Foods PCL (Thailand), New Hope Liuhe Co., Ltd. (China), Cargill, Incorporated (U.S.), Brf S.A. (Brazil), Tyson Foods, Inc. (U.S.), Nutreco N.V. (Netherlands), Archer-Daniels-Midland Company (U.S.), Alltech Inc. (U.S.), ForFarmers N.V. (Netherlands), De Heus Animal Nutrition (Netherlands), Royal Agrifirm Group (Netherlands), and Guangdong HAID Group Co., Ltd. (China).