Global Swine Feed Market Growth And Analysis

(MENAFN- Straits Research) Introduction

Pork or hog feed, as well as swine feed, is made by combining nutrients from plant and animal sources. Corn, soy meal, barley, sorghum, wheat, minerals, vitamins, and other micronutrients are some of the ingredients in these foods. Antibiotics are also included. Pig feed or hog feed is another name for swine feed. Swine feed contains specific nutrients necessary for pigs' growth and development. Pork consumption is on the rise all over the world, which is helping to fuel the market's growth.

Additionally, manufacturers' efforts to improve the quality of swine feed through product innovation have helped to drive the swine feed market's overall value growth. This growth has been fueled by an increase in pig populations around the world.

Market Dynamics Global Pork Consumption and Growing Product Innovation Drives the Global Market

With a few exceptions in the Middle East, most people choose pork as their meat of choice. Pork meat is not only delicious but also high in nutrition. In addition, it's a good source of protein and fat and high in selenium, vitamin B, and thiamine, all of which make it a popular choice among diners. As a result of the rise in demand for pork, most pig farm owners have been forced to increase their swine feed investments. Pork producers use this method to ensure that pigs get the proper nutrition regularly, allowing them to proliferate and maintain good health. Pork products of high quality and safety are also a benefit of this practice. These factors propel the swine feed market's overall value growth.

Product or service innovation is a term used to describe the process of creating something new or improving upon something already existing. Swine feed manufacturers constantly strive to improve their products to provide their customers with high-quality swine feed. For example, the swine feed manufacturer Alltech has introduced a unique enzyme feed for animal nutrition. This enzyme targets different substrates in an animal's diet to increase efficiency, such as swine feed, which the enzyme can then digest. As a result, owners of pig farms are increasingly turning to fortified swine feed, which in turn is fueling growth in the swine feed market.

Demand for Organic Feed Creates Lucrative Opportunities

Chemical or artificial additives and preservatives are kept to a minimum during production, processing, and preservation processes for organic pig feed. Companies in this industry constantly promote organic swine feed to consumers because it is made from organically grown raw materials like wheat and grains. This is because they are made from organic materials. Increased demand for organic swine feed is also expected due to rising public health concerns and growing consumer knowledge about the health benefits associated with the consumption of organic pork.

Regional Analysis

Asia-Pacific is the most dominant contributor to the global swine feed market, growing at a CAGR of 2.8% during the forecast period. The Asia-Pacific region experienced remarkable growth and surpassed all other regions to become the most lucrative and largest market overall. This can be attributed to both an increase in the consumption of pork meat and an increase in the production of pork meat in countries such as China, South Korea, Vietnam, and Thailand. Regarding value sales, there is anticipated to be an increase in the demand for pig feed during the forecast period in Asia-Pacific.

Europe is the second-largest contributor to the market and is estimated to reach around USD 34,534.05 million at a CAGR of 4.1% during the forecast period. The demand for swine feed is driven by increased disposable income, increased demand for pork meat, and effective marketing strategies adopted by manufacturers. In addition, the demand for organic swine feed has increased, which can be attributed to an increase in awareness about the benefits associated with the use of organic swine feed for the healthy growth of pigs. This awareness is likely to be a primary factor in the swine feed market's growth in value sales throughout the forecast period.

Key Highlights

• The global swine feed market was valued at USD 33 million in 2021. It is expected to reach USD 150.14 million by 2030, growing at a CAGR of 3.8 % during the forecast period (2022–2030).
• Based on the product type, the global swine feed market has been categorized into starter, grower, and finisher. The grower segment was the highest contributor to the market at a CAGR of 2.9% during the forecast period.
• Based on the form, t he global swine feed market has been categorized into pellets, Mash, and crumbs. The pellets segment was the highest contributor to the market, growing at a CAGR of 3.1% during the forecast period.
• Based on its nature, the global Swine Feed market has been categorized into conventional and organic. The conventional segment is the highest contributor to the market, growing at a CAGR of 3.5% during the forecast period.
• Asia-Pacific is the most dominant contributor to the global swine feed market, growing at a CAGR of 2.8% during the forecast period.

Competitive Players

Purina Mills LLC

Archer Daniel Midland Company

Cargill Inc.

SRC FEEDS

Lallemand Inc.

Kent Corporation

and Charoen Pokphand Foods

Keystone Mills

Kreamer Feed Inc.

Alltech

Recent Developments

• April 2022, Kames Fish Farming Ltd. and Salmones Aysén joined Cargill's SeaFurther TM Sustainability initiative to raise more sustainable seafood with less environmental impact.
• January 2022, Cargill expanded its portfolio of artificial intelligence-powered innovations to give poultry producers actionable insights.
• May 2022, Alltech collaborates with U.S. universities to develop free bilingual dairy training resources.

Segmentation

By Product Type

Starter

Grower

Finisher

By Nature

Conventional

Organic

By Form

Pellets

Mash

Crumbs

By Additives

Vitamins

Amino Acids

Antibiotics

Enzymes

Others

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