Global Compound Feed Market accounted for US$ 458.1 billion in 2020 and is estimated to be US$ 716.12 billion by 2030 and is anticipated to register a CAGR of 4.6%. Compound feed is a type of food that is fed to domestic animals in the course of their care. Compound feed is fodder that is made up of a variety of raw components and additives. Vitamins, minerals, chemical preservatives, antibiotics, fermentation products, and other necessary substances are added as premixes to boost the nutritional value. Compound feed is essential for animal productivity and health.
The report " Global Compound Feed Market, By Ingredient (Cereals, Cakes and Meals, By-products, and Supplements), By Forms (Mash, Pellets, Crumbles, and Others), By Livestock (Ruminants, Swine, Poultry, Aquaculture, and Other), By Source (Plant-based and Animal-based), and By Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa) – Trends, Analysis and Forecast Till 2029’’
Key Highlights:
· In November 2019, Cargill opened a USD 34.0 million expansion of its Animal Nutrition and Health facility in Temple, Texas.
· In June 2019, Cargill and InnovaFeed entered a partnership through which the companies will develop, manufacture, and market insect protein-based fish feed to support the growing sustainable aquaculture.
Analyst View:
Over the projected period, rising demand for meat and dairy products will be a major driver of the worldwide compound feed market. Furthermore, advancements in animal husbandry procedures, as well as the expansion of local and foreign fast food and restaurant chains around the world, are driving the target market's growth in the near future. Another element driving the growth of the global compound feed market is rising public awareness about animal health. Furthermore, rising research activities in the biotechnology sector are driving demand for compound feed, which is propelling the global compound feed market forward.
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https://www.prophecymarketinsights.com/market_insight/Global-Compound-Feed-Market-By-391
Key Market Insights from the report:
Global Compound Feed Market accounted for US$ 458.1 billion in 2020 and is estimated to be US$ 716.12 billion by 2030 and is anticipated to register a CAGR of 4.6%. Global Compound Feed is segmented into Ingredient, Forms, Source and region.
· Based on Ingredient, the Global Compound Feed Market is segmented into Cereals, Cakes and Meals, By-products, and Supplements.
· Based on Forms, the Global Compound Feed Market is segmented into Mash, Pellets, Crumbles, and Others.
· Based on Source, the Global Compound Feed Market is segmented into Plant-based and Animal-based.
· By Region, the Global Compound Feed Market is segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa.
Competitive Landscape & their strategies of Global Compound Feed Market:
The key players in the global Compound Feed Market includes Nutreco N.V, Cargill Incorporated, Smithfield Foods, Inc., BIOMIN Holding GmbH, Novus International Inc., Addcon Group GmbH, Adisseo France S.A.S, Tyson Foods, Inc., Kemin Industries Inc., BASF SE, DSM and Elanco Animal Health Inc.
The market provides detailed information regarding the industrial base, productivity, strengths, manufacturers, and recent trends which will help companies enlarge the businesses and promote financial growth. Furthermore, the report exhibits dynamic factors including segments, sub-segments, regional marketplaces, competition, dominant key players, and market forecasts. In addition, the market includes recent collaborations, mergers, acquisitions, and partnerships along with regulatory frameworks across different regions impacting the market trajectory. Recent technological advances and innovations influencing the global market are included in the report.
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