The global pig feed market will reach $7.15 billion by 2021
Pork is one of the most consumed meat across the globe. The strong pork production increased simultaneously the swine feed market, as feed cost is the main component, accounting for 70-80% of the total cost of pig meat production, the report shows.
Analysts from Market Data Forecast say that swine feed will continue to increase by maintaining the optimum health of domesticated animals. The main factors that drive the market growth are the growing demand for pork, escalating pork prices and increasing instances of a disease outbreak. High rates of feed and addictive are the important restraints in the market.
"Swine (Pig) Feed Market is categorized by Type, Additive and by Region. On the basis of Type, swine feed market is further segmented into Pig Starter feed, Grower feed, Sow feed and Others. On the basis of the feed additive types, the market is classified into Zootechnical feed additives, Sensory feed additives and Nutritional feed additives. Moreover, the market is also segmented on the basis of the feed essence, like Vitamins, Antioxidants, Antibiotics, Feed acidifiers, Feed Enzymes, Amino acids and Others. On the basis of region, the global Pig feed market is segmented under various regions namely North America, Latin America, Asia-Pacific, Europe and the Middle East and Africa," the Market Data Forecast's statement read.
The Global swine feed market has the highest consumption chart of the global industry, which has a 43.1% of the total global share. Europe is the most dominant in Swine feed additives industry with 37.3% of the total market share. Rise in the effort of various administrations on feed cost reduction and increasing animal productivity are the drivers for market growth in this region. North America has the second largest market. Asia-Pacific region, where China and other countries are important for the pork requirement and rising disposable income, backed by the buoyant domestic demand and government support are the primary reasons for the particularly strong growth in this market.
The report identifies as key players in the global swine feed market the following companies: CHR Hansen Holdings A/S (Denmark), Novus International Inc. (U.S), Lallemand Inc (Canada), BASF (Badishce Anilin und Soda Fabrik) (Germany), Royal DSM N.V. (The Netherlands), ADM (Archer Daniels Midland Company) (U.S), Alltech Inc. (U.S), Charoen Popkhand Foods (Thailand), Cargill Inc. (U.S) and ABF Plc (Associated British Food) (U.K).
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