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Demand for cereals as compound horse feedstuff growing due to their cost-effectiveness, rich nutritional profile, and versatility, says Fact.
ROCKVILLE , MD, UNITED STATES, January 23, 2025 /EINPresswire / -- Revenue from the global compound horse feedstuff
market is projected to reach US$ 8.73 billion in 2024, as opined in a recently updated and published research report by Fact, a market research and competitive intelligence provider. The market has been forecasted to expand at a CAGR of 4.1% from 2024 to 2034.
The animal feed
industry is exhibiting significant growth due to the rising demand for energetic and healthy feed products. Among all the feed options, compound horse feed demand is increasing at a steady pace owing to its growing use as an effective energy source, keeping horses more active and energetic. Surging demand for nutrient-rich feed options for horses to match increasing requirements for comprehensive nutrition will open up new opportunities for manufacturers.
Growing demand for cereal-based compound horse feedstuff is attributed to its health and nutritional values. This suits horses due to the higher nutritional profile and easy availability compared to other options such as supplements, cakes/meals, and others. Rice, wheat, and corn are some of the main sources that are used as feed cereals for horses in several parts of the world.
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Key Takeaway from Market Study
Worldwide sales of compound horse feedstuff are projected to reach US$ 13.05 billion by 2034.
Global sales of cereal-based compound horse feedstuff are projected to rise at a CAGR of 3.8% and reach US$ 4.29 billion by the end of 2034.
North America is approximated to hold 24.3% share of the global market by 2034.
The market in Japan is forecasted to expand at a CAGR of 4.6% from 2024 to 2034.
Worldwide demand for powder/mash form of compound horse feedstuff is evaluated to increase at 4.4% CAGR and reach a value of US$ 7.74 billion by 2034.
Sales of compound horse feedstuff in South Korea are expected to rise at a CAGR of 4.8% through 2034.
“Rising expenditure on R&D activities to offer customized compound horse feedstuff will create remunerative opportunities for companies in this market over the coming years,” says a Fact analyst.
Presence of Large Base of Horse Racing Enthusiasts in the United States
Demand for compound horse feedstuff in the United States is approximated to increase at a CAGR of 4.5% and reach a market value of US$ 1.45 billion by the end of 2034. This country has a high presence of enthusiasts involved in horse racing activities. In addition, five of the 12 more popular horse racing events in the world are held in the United States. More North Americans have taken a keen interest in horse-based recreational activities and passion. As such, demand for high-quality compound horse feedstuff is high in the country.
Key Market Players
Leading compound horse feedstuff manufacturers are Bailey's Horse Feeds, GAIN Equine Nutrition, Farmvet, Horse Tech Inc., Epol, Omega Fields, Cavalor, Spillers Horse Feeds, Target Feeds Ltd., Nutrena Animal Feeds, Big V Feeds, Triple Crown Horse Feeds, Allen & Page, Dumoulin, West Feeds, and Purina Animal Nutrition LLC.
Growth Drivers for the Compound Horse Feedstuff Market
Rising Demand for High-Quality Nutrition: Increasing awareness of equine health is pushing the demand for compound feedstuff that offers complete nutritional benefits, boosting performance and preventing ailments in horses.
Popularity of Horse Sports: The growing interest in horse racing, polo, and other equine sports is driving the need for specialized, high-energy feed to support performance.
Pet Humanization Trends: As more people treat horses as pets, there is a greater focus on providing high-quality, organic feed tailored to the horses' specific needs.
Technological Advancements: Innovations in feed formulation and quality control, such as traceability platforms, are enhancing product offerings and meeting consumer expectations for premium feedstuff.
Sustainability Trends: Manufacturers are increasingly adopting eco-friendly practices in feed production, catering to a market that values sustainability in animal care.
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About Us:
Fact is a distinguished market research company renowned for its comprehensive market reports and invaluable business insights. As a prominent player in business intelligence, we deliver deep analysis, uncovering market trends, growth paths, and competitive landscapes. Renowned for its commitment to accuracy and reliability, we empower businesses with crucial data and strategic recommendations, facilitating informed decision-making and enhancing market positioning.
With its unwavering dedication to providing reliable market intelligence, FACT continues to assist companies in navigating dynamic market challenges with confidence and achieving long-term success. With a global presence and a team of experienced analysts, FACT ensures its clients receive actionable insights to capitalize on emerging opportunities and stay competitive.
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