MARKET REPORT 88 FEED & ADDITIVE MAGAZINE September 2023 Broiler feeds rank third in feed production in North America. The region's broiler feed production, which was 58.2 million tons in 2021, increased by 3.3% in 2022 to 60.1 million tons. Broiler exports were flat in 2022 but broiler production is growing slowly each year and will most likely continue at this pace, according to the Alltech report. In the region, another important item on the basis of species is dairy feeds. The dairy feed production of the region, which was 28.7 million tons in 2021, decreased by 0.7% in 2022 to 28.5 million tons. A reduction in dairy cows slowed feed production in the U.S., where high building costs and feed costs have limited expansion, according to the Alltech report. The total layer feed production in North America, which was 15.1 million tons in 2021, increased by 2.7% in 2022 to 15.5 million tons. According to the Alltech report, layers were more affected by avian influenza than any other poultry species in the U.S in 2022. More than 57 million commercial birds in the U.S. were affected, mostly layers and turkeys. North America, which is the world's second largest pet food producer after Europe, alone produces about 31.8% of the world's pet food production of 35.3 million tons. The pet food production of the region, which was 10.6 million tons in 2021, increased by 5.6% in 2022 to 11.2 million tons. North America is the world's largest producer of equine feed. The region alone produces 46.6% of the world's equine feed production. The region's equine feed production, which was 3.7 million tons in 2021, increased by 0.5% in 2022 to 3.8 million tons. In the region, aqua feed tonnage was up 2% (0.02 MMT) due to increases in fish prices, favourable weather conditions and the lifting of size restrictions, according to Alltech's report. COMMERCIAL VALUE OF THE MARKET AND EXPECTATIONS There are different estimates about the size of the market and growth prospects. For example; BlueWeave Consulting, one of the leading strategic consulting and market research firms, in its recent study, estimated North America compound feed market size at USD 168.29 billion in 2022. During the forecast period between 2023 and 2029, North America compound feed market size is to grow at a robust CAGR of 5.88% reaching a value of USD 237.15 billion by 2029. The report by Market Data Forecast states that the market was worth USD 119.77 billion in 2021 and estimated to be growing at a CAGR of 1.30%, to reach USD 127.76 billion by 2026. Research And Markets, one of the leading research companies, estimates the market value of the North American animal feed market at USD 74.862 billion in 2020 in its report. The research company forecasts that the market will reach USD 93.534 billion in 2027 with a 3.23% CAGR. MARKET DRIVERS & RESTRICTIONS Consumer demands are the main trend-setting factor in North America, as in many other regions. According to the report of Mordor Intelligence, especially growing demand for animal-based products is driving the market. The research company report includes the following information: North America* Compound Feed Production Source: 2023 Alltech Agri-Food Outlook *North America includes Canada and the U.S. Beef Pig Broiler Dairy Layer Pets Equine Aqua TOTAL 2021 66.772 63.600 58.200 28.700 15.120 10.600 3.778 1.730 259.367 2022 67.355 62.984 60.132 28.500 15.530 11.200 3.800 1.750 261.639 Growth (MMT) 0.429 (0.616) 1.932 (0.200) 0.410 0.600 0.022 0.020 2.272 Growth (%) 0.64% -0.97% 3.32% -0.70% 2.71% 5.66% 0.58% 1.16% 0.88%
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