The global swinefeed market sizeis predicted to reach USD 148.17 billion by 2027, exhibiting a CAGR of 3.06%between 2020 to 2027. The increasing concerns regarding swine health andwell-being can be a crucial factor boosting the growth of the market during theforecast period, states Fortune Business Insights in a report, titled “SwineFeed Market Size, Share & Industry Analysis, By Type (Starter Feed, SowFeed, and Grower Feed), Additives (Vitamins, Amino Acids, Antibiotics, Enzymes,and Others), Form (Pellets, Mash, and Crumbles), and Regional Forecast, 2020 –2027” the market size stood at USD 117.54 billion in 2020. The growing demandfor high-quality pork meat across various regions of the world willsubsequently create opportunities for the market in the forthcoming years.
Theoccurrence of covid-19 has arduously disturbed the entire world. The crisis hascaused an unwonted effect on businesses across various regions. Nevertheless,government initiatives and strict measures can help defeat this highlyinfectious virus. Numerous industries are in fraught yet thriving to elevatefrom this catastrophe. Our team of researchers have analyzed the current COVIDdata and prepared reports with new tactical information to help sustainbusinesses during the global pandemic.
Key Players:
· Cargill Incorporated - United States
· BASF SE – Germany
· Archer Daniels Midland – United States
· Novus International Inc. – United States
· Nutreco NV – Netherlands
· Lallemand Inc. – United States
· Kent Nutrition Group – United States
· Alltech Inc. – United States
· Chr Hansen Holding A/S – Denmark
· Land O’Lakes Inc. – United States
The report on the swine feed market highlights:
· Descriptiveanalysis of the impact of the COVID-19 pandemic on the market;
· Tacticalinsights for crisis management;
· All-InclusiveEvaluation of the factors affecting the market; and
· Thoroughdata on all the regions and prominent players in the market
Market Driver:
Rising Concentration on Animal Welfareto Augment Growth
The rising consumer inclinationtowards organic meat products is predicted to foster the growth of the market. Therising production of organic pig meat owing to the awareness pertaining toanimal welfare will provide impetus to the market. The increasing demand forwell-bred pork meat has impelled manufacturers to increase their productioncapacities, which, in turn, will bode well for the market. The growingconsumption of pork meat among consumers in various forms such as ham, bacon, chops, and lions will further enablespeedy expansion of the market. The growing popularity of pork in westerncountries will escalate the trade and production of swine in the foreseeablefuture.
Market Restraint:
Declining Meat Consumption DuringGlobal Pandemic to Dwindle Market Growth
The coronavirus outbreak has disturbedthe animal feed industry intensely. The temporarily shut down of businesses andoperations has severally triggered the swine feed market. Moreover, the spreadof rumors concerning the consumption of meat along with the misinformationabout the toxic effects of meat consumption will have a negative impact on themarket. likewise, the disruption of the supply chain due to the lockdown invarious regions across the globe will thwart the market growth. Besides, theuncertainty associated with the current situation of COVID-19 will consequentlycreate newer challenges for the industry in the forthcoming years.
Regional Analysis:
Increasing Consumer Spending to Benefit Market in AsiaPacific
The market size in Asia Pacific is expected to account forthe maximum share in the global market owing to the rising consumption of pigmeat in Asian countries such as China, Japan, South Korea, Malaysia. The growingutilization of swine feed in the countries will contribute positively to thegrowth of the market. The surge in import and export activities will create newopportunities for the region. The focus of manufacturers towards low-costproduction, enhanced distribution networks, and high profitability will supportmarket growth in Asia Pacific. The increasing urbanization and consumerspending will have a tremendous impact on the market during the forecastperiod. North America is expected to witness a substantial growth rate duringthe forecast period due to the presence of numerous major players in theregion.
Key Development:
October 2018: Canadian Bio-Systems Inc. (CBS Inc.)announced the launch of its Feed Science Platforms (FSPs). The FSPs aredesigned to offer an inclusive portfolio of cutting-edge bio-based animal feedtechnology solutions to benefit poultry, swine, ruminant, and aquacultureproduction
Information Source:
https://www.fortunebusinessinsights.com/swine-feed-market-103090
About Us:
Fortune Business Insights™ offers expertcorporate analysis and accurate data, helping organizations of all sizes maketimely decisions. We tailor innovative solutions for our clients, assistingthem to address challenges distinct to their businesses. Our goal is to empowerour clients with holistic market intelligence, giving a granular overview ofthe market they are operating in.
Contact Us:
FortuneBusiness Insights™ Pvt. Ltd.
308,Supreme Headquarters,
SurveyNo. 36, Baner,
Pune-BangaloreHighway,
Pune- 411045, Maharashtra, India.
Phone:
US :+1 424 253 0390
UK : +44 2071 939123
APAC: +91 744 740 1245
Email: sales@fortunebusinessinsights.com
Connect us via Social Media Channels:
Facebook:https://www.facebook.com/FortuneBusinessInsightsPvtLtd
Twitter:https://twitter.com/FBInsightPvtLtd?s=20
LinkedIn:https://www.linkedin.com/company/fortune-business-insights/
