MARKET REPORT 70 FEED & ADDITIVE MAGAZINE June 2023 Swine feed, also known as pig feed, is made up of a variety of nutrients derived from both plant and animal sources, with the primary ingredients being soy meal, corn, barley, wheat, sorghum, minerals, and vitamins. There are several different pellet and mash swine diets on the market that are formulated to enhance performance objectives and herd health. Swine feed in the form of pellets is the most popular among swine farmers. In addition, several varieties of swine feed comprise of proteins that are made with all-natural plant sources and natural fungal-based enzymes which aid in the break-down of different components of the feed during digestion. Global Swine Feed Market The increasing demand for pork across the world, food safety concerns, and trends such as animal health and welfare, sustainability and environmental impacts are contributing to the growth of the global swine feed market. IMARC Group expects the market to reach US$ 141.2 billion by 2028, exhibiting a growth rate (CAGR) of 3.3% during 2023-2028. However, despite these growth forecasts, there is a decline in production, especially due to the effect of the African swine fever. According to Alltech Agri-Food Outlook 2023 report, global swine feed production, which was 322.2 million tons in 2021, decreased by 2.98% in 2022 to 319.4 million tons. By Derya Yildiz
RkJQdWJsaXNoZXIy MTUxNjkxNQ==