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Market Overview:
The Animal Feed Market size is estimated to reach $43 Billion by 2031, growing at a CAGR of 5.1% during the forecast period 2025-2031, according to a recent report published by IndustryARC, titled, “Animal Feed Market - By Type of Feed (Pet Food, Equine Feeds, Aquatic Animals Feeds, Poultry Feed, Cattle Feed, Swine Feed, Others), By Ingredients (Grains, Protein Meals, Fats and Oils, Forages and Roughage, Others), By Additives (Minerals, Vitamins, Antibiotics, Acidifiers, Antioxidants, Amino Acids & Glucoformers, Feed-Enzymes, Prebiotics & Probiotics, Others), By Form (Granules and Pellets, Powder, Liquid, Others), and By End User (Livestock Farmers, Zoos, Animal Shelters, Others).By Geography - Opportunity Analysis & Industry Forecast, 2025-2031.
The global demand for animal feed is driven by rising consumption of animal protein, fueled by increasing meat, milk, and egg demand. Growth in livestock and poultry farming, particularly in developing regions, further propels the need for feed. Additionally, there is a heightened focus on animal health and nutrition, with farmers adopting advanced feed technologies such as precision nutrition and digital monitoring. The rapid expansion of aquaculture and the growing preference for compound feed to ensure balanced animal diets are also key factors contributing to the market's growth.
APAC Dominated the Market in 2024:
APAC accounted for the largest share of 41% of the Animal Feed Market in 2024. Asia is predominantly an agrarian society and relies on animal products for both consumption and exports. As per the OECD-FAO Agricultural Outlook, the Asia Pacific region is largest producer of agricultural and fish commodities and is anticipated to account for 53% of global agriculture and fish output by 2030. According to the USDA, China remained the world's largest seafood producer in 2023, with official production estimated at 71 million metric tons (MMT), up 3.5% from 2022. Production growth continues to be driven by aquaculture, which, according to official data, increased 4.4% yoy to 58.1 MMT in 2023.
Animal Feed Market Key Takeaways
Rising Global Demand for Animal Protein
The growing global demand for animal protein is driven by urbanization, rising incomes, and shifting dietary preferences. In 2024, animal protein production is forecasted to grow by 0.5% to reach 247 million metric tons, with poultry and aquaculture leading this increase. Countries like Brazil and China are key contributors, benefiting from export demand and increasing domestic consumption. Despite rising costs, consumers in emerging economies are willing to pay a premium for high-quality protein products. Sustainable practices and advanced production technologies are also being adopted to meet evolving consumer preferences.
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Expansion of Aquaculture
Aquaculture is one of the fastest-growing sectors in the animal protein market, driven by consumer demand for seafood and its price competitiveness. Salmon production is projected to grow by 4-5% in 2024, highlighting the potential of this segment. Asia-Pacific leads aquaculture growth due to increasing seafood consumption and investment in advanced technologies, such as IoT-based monitoring systems. This sector is also addressing sustainability concerns by reducing reliance on wild fish stocks and improving feed efficiency according to the report of ESM Magazine.
Scope of the Report:
Recent Developments:
- In November 2024, BRF announced plans to acquire a processed foods factory in China from fellow meat major OSI Group. The facility, which is owned by Henan Best Foods, a subsidiary of US-based OSI Group, is being acquired for $43 million
- In September 2024, Lisavaird Co-Op announced the launch of its new and improved premium animal feed under the Lisavaird Agri-Feeds brand, marking a significant milestone with a $5.8 million investment in a state-of-the-art feed mill.
- In June 2024, Japfa Comfeed Vietnam Limited Company invested $16.66 million to expand its animal feed mill. The investment aligns with the company's objective to advance its livestock farming capabilities towards modern industrial standards.
Animal Feed Market Competitive Landscape
Key companies profiled in the Agriculture Packaging Market are CP Group, New Hope Liuhe Co., Ltd., Cargill, Nutreco, Wens Food Group, ADM, Alltech, De Heus a.s., BioMar Group A/S, Purina (Nestlé) and Others
Related Reports:
Cattle Feed Market - Cattle Feed Market Size is forecast to reach $108191 Million by 2030, at a 3.70% during forecast period 2024-2030.The demand for milk and meat is increasing in most part of the world and hence the farmers are now more concerned over the health and yield of the cattle which in turn is serving the global cattle feed market growth.
Aquafeed Market- Aquafeed Market Size is forecast to reach $ 79017.7 Million by 2030, at a CAGR of 5.00% during forecast period 2024-2030.With the flourishing seafood business and additional demand from domesticating aquatic animals, the market is expected to grow.
Meat and Poultry Safety Testing Market- The global meat & poultry safety testing market is estimated to reach $15.5 billion by 2020. Growing awareness among people regarding food safety is one of the major driving factors of the market.
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