The global compound feed market is estimated to grow at a CAGR of nearly 4.6% during the forecast period. The increasing livestock population have significantly increased the demand for compound feed. The livestock population is increasing across Asia-Pacific countries due to the increasing demand for meat and growing dairy farming sector. As per the National Dairy Development Board (NDDB), in India, the total livestock population increased from 512.1 million in 2012 to 535.8 million in 2019. The country is engaged in a large amount of milk production, which results in the increasing focus on the health of cattle. This contributes to the rising demand for compound feed in cattle to meet nutritional requirements and optimize animal health and performance. As per the NDDB, milk-producing animals should be fed 2 kg of compound feed for body maintenance and extra 500 grams to buffaloes and 400 grams to cows for every litre of milk produced. Growing animals should be fed 1 to 1.5 kg of compound feed every day. Therefore, the growing livestock population is supporting to drive the market growth in the country.
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Further, in Vietnam, livestock is one of the fastest-growing sub-sectors of agricultural production. Over the last 10 years, livestock production in Vietnam has undergone major changes. As per the FFTC Agricultural Policy Platform (FFTC-AP), in 2018, the total production of livestock meat reached 5.37 million tons, a rise of 11% from 2015, of this pork increased by 9.3%, the beef increased by 11.7%, chicken increased by 20.8%. The production of milk increased by 29.4% from 2015 and reached 936 thousand tons in 2018, and the production of eggs grew by 31.2% from 2015. The country is facing a serious concern about animal health and importing a large proportion of feed products which costs high to the country.
Therefore, the industrial feed production in the country reached 24.48 million tons in 2017, compared to 15.85 million tons in 2015. In 2017, the country has 209 animal feed factories, which includes 145 domestic-invested factories and 64 foreign factories. This, in turn, leads to the emerging production of compound feed in the country to deliver appropriate nutrition to the animals. Proper animal nutrition has crucial importance in the food chain. Compound feed plays an important role to ensure food safety along the whole aquaculture and livestock production and supply chain. Cattle feed contains minerals and vitamins, protein, and energy, which is required for the growth, maintenance and production of milk in animals. It is beneficial to feed additional compound feed to pregnant animals for proper development of the foetus. Owing to the significant advantages associated with the compound feed, it is significantly used in animals to ensure their proper health, which in turn, is encouraging the growth of the global compound feed market.
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Compound Feed Market Segmentation
By Animal Type
- Swine
- Poultry
- Ruminants
- Aquaculture
- Others
By Ingredient
- Supplements
- Minerals and Vitamins
- Probiotics and Prebiotics
- Amino Acids
- Acidifiers and Enzymes
- Others
- Cereals
- Cakes & Meals
- By-Products
