The global pig feed market is projected to reach $ 148.17 billion by 2027, with a CAGR of 3.06% between 2020 and 2027. Growing concerns about the health and well-being of pigs during the forecast period could be a significant factor in stimulating market growth, Fortune Business Insights said in a report titled ” Pig feed market size, quota and sector analysis, by type (baby food, sowing feed and farmer feed), supplementation (vitamins, amino acids, antibiotics, enzymes and others), form (pellets, mash and crumbles) and regional forecasts, – 2027 “ The market size in 2019 was US $ 117.54 billion. The growing demand for high quality pork in different parts of the world will create opportunities for the market in the coming years.
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Report on this topic Highlight the pig feed market :
- Descriptive analysis of the impact of the COVID-19 epidemic on the market;
- Strategic insights for crisis management;
- An all-inclusive assessment of the factors influencing the market; And
- In-depth data across all regions and major market players
Market driver :
Increased focus on animal welfare to enhance growth
The growing consumer sentiment towards organic meat products is expected to stimulate market growth. The growing production of organic pork will boost the market due to animal welfare awareness. The growing demand for well-bred pork has prompted producers to increase their production capacity, which, in turn, will be good for the market. The growing use of pork among consumers in various shapes such as ham, bacon, ribs and pork will allow the market to expand more rapidly. The growing popularity of pork in western countries will increase the business and production of pork in the near future.
Market limitations :
Meat consumption has declined to slow market growth during the global epidemic
The coronavirus outbreak has severely disrupted the animal feed industry. The temporary closure of businesses and activities has seriously triggered the pig feed market. In addition, spreading rumors about eating meat will have a negative impact on the market with misinformation about the toxic effects of eating meat. Similarly, disruptions in the supply chain due to blockades in various parts of the world will hinder market growth. Moreover, the uncertainty surrounding the current Covid-19 situation will create new challenges for the industry in the years to come.
Regional analysis :
Consumer spending has increased to benefit the Asia-Pacific market
Asia-Pacific market size is expected to account for the largest share of the global market due to rising pork consumption in Asian countries such as China, Japan, South Korea and Malaysia. Increasing use of pig feed in countries will positively contribute to market growth. Increased import and export activities will create new opportunities for the region. Manufacturers’ focus on low-cost production, extended distribution networks and high profitability will support market growth in Asia Pacific. Increasing urbanization and consumer spending will have a huge impact on the market during the forecast period. Due to the presence of several major players in the region, North America is expected to see significant growth during the forecast period.
Core development :
October 2018: Canadian Bio-Systems Inc. (CBS Inc.) has announced the launch of its Feed Science Platform (FSP). FSPs are designed to offer an inclusive portfolio of state-of-the-art bio-based animal feed technology solutions to facilitate poultry, pig, ruminant and aquaculture production.
The key players :
- Cargill Inc. – United States
- BASF SE – Germany
- Archer Daniels Midland – United States
- Novas International Inc. – United States
- Nutreco NV – Netherlands
- Lallemand Inc. – United States
- Kent Nutrition Group – United States
- Alltech Inc. – United States
- Chr Hansen Holding A / S – Denmark
- Land O’Leaks Inc. – United States
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