(MENAFNEditorial)
Fast Market Research announces the availability of Technavio's new report "Global Animal Feed Market 2015-2019" on their comprehensive research portal.
Animal feed refers to food for livestock such as poultry swine cattle horse poultry and sheep. It includes feed cereals cakes and meals co-products from food sector minerals additives and vitamins oil and fats and supplements such as silage of legumes grass and hay or harvested crops. The animal feed ideally is high in fiber content vitamins minerals and other nutrition-based edibles for animals.
The global animal feed market can be segmented into five divisions based on livestock: Poultry swine ruminant aquaculture and others. The major ingredients in poultry diets include cereals fats and oils which provide the protein and energy required for poultry to maintain health and produce eggs.
Technavio analysts forecast the global animal feed market to grow at a CAGR of 4.92% during 2014-2019.
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The report analyst commented "With the increase in demand for meat producers are purchasing feed with added growth promoters and performance-enhancing ingredients to increase meat production. The feed enzymes market is gaining significance as it helps in better feed conversion by the animal increases the rate of biochemical reaction improves feed quality and contributes to the animal's welfare. These enzymes are added to swine poultry cattle and aqua feed to enhance production efficiency. The growing concerns of disease outbreak among animals is one of the major factors driving the demand for animal feed enzymes. Also consumers are prompted to adopt animal feed enzymes because of the rise in cost of natural feed products."
According to the report the increase in production of animal feed is driven by the rise in meat consumption. Worldwide the per capita meat consumption is 87.7 pounds per annum. The increased per capita global consumption of meat is because of an increase in the overall population which is driving the global animal feed market increasing the production capacity and supply in the market. Animal feed is the foundation of nutrition intake in animals thus yielding high-quality animal products. Livestock rearing and consumption of animal products are crucial in contributing to the economic and nutritional wellbeing of people. The rise in meat production and consumption is mainly witnessed in EMEA and the Americas. The growing economy has boosted both the production and consumption of meat which in turn has improved the sales of animal feed products in the market.
Further the report states that one of the major challenges is ensuring safe and healthy feed.
The key players in the Global Animal Feed Market are Alltech Balchem Cargill Kemin Industries Novus International and Nutreco while other prominent vendors include Addcon Group Adisseo France ADM Aliphos Albion Laboratories Aliphos BASF Baileys Horse Feeds Brazil Foods Brett Young Seeds CP Pokphand East Hope Group Elanco Animal Health Evonik Hunan Tangrenshan J. Grennan and Sons Land O'Lakes Purina New Hope Group NWF Agriculture Global Animal Products Phibro Animal Health Premex Priya Chemicals QualiTech Suboneyo Chemicals Pharmaceuticals Ridley Suboneyo Chemicals Pharmaceuticals Vamso Biotec Vetco (India) Wuhan Pharma Chemical Global Animal Products Phibro Animal Health Premex Priya Chemicals QualiTech Suboneyo Chemicals Pharmaceuticals Ridley Suboneyo Chemicals Pharmaceuticals Vamso Biotec Vetco (India) Wuhan Pharma Chemical and Zen-noh Cooperative
The study was conducted using an objective combination of primary and secondary information including inputs from key participants in the industry. The report contains a comprehensive market and vendor landscape in addition to a SWOT analysis of the key vendors.
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