MARKET REPORT FEED & ADDITIVE MAGAZINE January 2025 67 As a result, compound animal feed supports the efficiency and profitability of commercial farming by providing a convenient, balanced and cost-effective solution for animal nutrition. GLOBAL COMPOUND FEED PRODUCTION According to the data shared by the International Feed Industry Federation (IFIF), world compound feed production was 1 billion 245 thousand tonnes in 2022. Of this, 44% is poultry feed, 28% is pig feed, 13% is dairy feed, 8% is other ruminant feed and 4% is aquaculture feed. The Agri-Food Outlook 2024 report prepared by Alltech provides more up-to-date data. According to this report, total compound feed production in 2023 was approximately 1 billion 295 million metric tons. This represents a modest decrease of 140 thousand metric tons or 0.01% compared to 2022. On a regional basis, Asia-Pacific is the largest producer with 475 million metric tons. It is followed by Europe with 261 million metric tons, North America with 259 million metric tons, Latin America with 200 million metric tons, Africa with 51 million metric tons, the Middle East with 35 million metric tons and Oceania with 10 million metric tons. On a national basis, China is the world's largest feed producer with approximately 262 million metric tons. It is followed by the USA with 238 million metric tons, Brazil with 83 million metric tons, India with 52 million metric tons, Mexico with 40 million metric tons, Spain with 36 million metric tons, Russia with 35 million metric tons, Vietnam with 24 million metric tons, Japan and Turkey with 23 million metric tons respectively. The total compound feed production amount of these 10 countries is around 820 million metric tons. This represents approximately 64% of the world compound feed production. MARKET GROWTH EXPECTATIONS Despite fluctuations in production, the value of the global animal feed market continues to increase year after year. According to a recent report by Polaris Market Research, the value of the global animal feed market will reach USD 588.50 billion in 2025, up from around USD 564.78 billion in 2024. Forecasting a compound annual growth rate (CAGR) of 4.3% until 2034, the research firm forecasts the market to reach a size of USD 859.62 billion by 2034, indicating a strong growth path. Future Market Insights' report points to a similar market size, but offers a higher forecast for the future. In its report, Future Market Insights put the size of the global animal feed market at USD 530.0 billion in 2023 and forecasts the market to reach USD 929.0 billion by 2033. According to the report of Precedence Research, which has a slightly lower forecast compared to the research companies above, the size of the global animal feed market was USD 448.61 billion in 2023 and is estimated to be USD 465.65 billion in 2024. The company suggests that the market could reach USD 705.15 billion by 2034. Mordor Intelligence, on the other hand, points to a significant increase with the figures it reports, but makes
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