Compound feed market to advance in 2012
Feb. 2, 2012
by Meat&Poultry Staff
ALBANY, NY – In 2012, the international compound feed market will total $257 billion and it is expected to reach $380.5 billion in 2017 at a compound annual growth rate (CAGR) of 3.72 percent from 2012 to 2017. So states a new study titled "Compound Feed market and Feed Additives Market: Global Analysis and Forecast (2007-2017)" published by Transparency Market Research.
This year the global feed additives market is estimated to reach $15.1 billion and is expected to increase to $18.3 billion by 2017 at a CAGR of 3.86 percent from 2012 to 2017, this study relays.
Representing the largest share will be swine feed, which is expected to total 31 percent of the compound feed market in 2012. This category is also predicted to be the fastest-growing segment at CAGR of 3.92 percent from 2012 to 2017. In 2017, the swine feed segment is expected to be worth $81.1 billion.
In 2012 feed amino acids are predicted to account for the largest share (30 percent) of the feed additives market. Meanwhile, the feed acidifiers segment is expected to have the highest growth rate from 2012 to 2017 of 5.98 percent.
Since compound feed accounts for 70 percent of the production costs of livestock, it has a significant impact on the farmers' production costs and returns. The use of compound feed ensures there will be increased supplies of meat, eggs and milk. Over the past five years, the compound feed segment grew significantly worldwide with the growth rate of 3.94 percent.
For 2012, swine feed is expected to account for the largest share (31 percent) of global compound feed spending totaling $81.1 billion. Cattle feed, poultry feed, aqua feed and other animals, which consists of sheep, goat, horses and more, are among other subsectors contributing to the remaining stake of compound feed.
North America remains the leader in the compound feed market with market revenue totaling $72.3 billion in 2010. However, Asia has the most promising growth potential for this industry since the consumption of animal-derived products is increasing due to the escalation in disposable income.
Transparency Market Research is a global market intelligence company that provides global business information reports and services.