MARKET REPORT 68 FEED & ADDITIVE MAGAZINE January 2025 a lower estimate compared to other research companies. According to the company's report, the global feed market, which will reach a value of USD 483.69 billion in 2025, will grow at a CAGR of 4.5% between 2025 and 2030, reaching a value of USD 602.76 billion. FACTORS DRIVING MARKET GROWTH Factors shaping the future of animal food production stand out as the major factors supporting the growth of the global animal feed market. Analysts list these factors as: 1. Growing Global Population and Animal Protein Demand: The world's growing population requires a significant increase in food production to ensure global food security. In addition, as the disposable incomes of consumers in developing countries increase, the demand for animal proteins such as meat, milk and eggs is also increasing. This shift in both population growth and dietary preferences directly translates into a higher demand for animal feed. 2. Technological Developments in Feed Formulation and Production: Advancements in feed formulation and nutritional science have enabled the creation of highly specialised feeds tailored to the specific needs of different animal species, breeds and life stages. This approach, referred to as precision nutrition, offers great advantages in terms of maximising feed efficiency and animal performance, and encourages the use of customised compound feeds. Automation in feed production processes is also improving production efficiency, reducing labour costs and increasing consistency in feed quality. Key trending technologies of recent years, such as artificial intelligence (AI) and machine learning, are increasingly being used to better analyse available data, optimise feed formulations accordingly and improve farm management practices. 3. Focus on Sustainability and Environmental Concerns: The livestock industry is facing increasing pressure to minimise its environmental footprint. This has led to the development of more sustainable feed ingredients such as alternative protein sources like insects, algae and plant-based proteins. On the other hand, the adoption of circular economy principles, such as recycling and reusing agricultural by-products as feed ingredients, is also gaining attention by re2022-23 Global Feed Production and Growth Source: 2024 Alltech Agri-Food Outlook - Million metric tons. Region Asia-Pacific Europe North America Latin America Africa Middle East Oceania TOTAL 2023 475.33 261.89 259.26 200.67 51.42 35.93 10.78 1,295.28 2022 468.79 269.48 262.06 198.21 50.44 36.05 10.40 1.295.42 Growth 1.40% -2.82% -1.07% 1.24% 1.94% -0.32% 3.71% -0.01% 2023 Top 10 Feed Producing Countries Country China USA Brazil India Mexico Spain Russia Vietnam Japan Turkey TOTAL 2023 262.71 238.09 83.32 52.83 40.42 36.22 35.46 24.15 23.94 23.37 820,51 2022 260.74 240.82 81.81 46.58 40.41 37.45 34.15 26.72 24.21 26.41 819,30 Growth 0.76% -1.13% 1.84% 13.43% 0.02% -3.28% 3.83% -9.63% -1.15% -11.48% Source: 2024 Alltech Agri-Food Outlook - Million metric tons. Feed Tonnage by Sector Source: 2024 Alltech Agri-Food Outlook - Million metric tons. Sector Broiler Pig Layer Dairy Beef Aqua Pet 2023 386.33 323.04 171.293 127.92 119.56 52.09 35.44 2022 373.52 327.17 171.292 129.38 124.26 54.49 34.52 Growth 3.4% -1.3% 0.0% -1.1% -3.8% -4.4% 2.7%
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