MARKET REPORT FEED & ADDITIVE MAGAZINE January 2025 71 Aqua feed is one of the fastest growing segments of the animal feed market, driven by increasing global demand for seafood. Growing global population, exhaustion of wild fish stocks, and increasing consumer preference for seafood are the drivers of growth in this segment. Although the production of aqua feeds showed an upward trend in many regions of the world, total production decreased by 4.41% in 2023 to 52.09 million metric tons, according to Alltech data. The largest regional share in aquafeed production belongs to Asia-Pacific with 35.70 million metric tons. The pet food market is also a notable segment owing to the rising trend towards humanisation of pets and the increasing number of pet owners. This market includes a wide range of products tailored to the specific needs of dogs, cats and other pets. In 2023, production in this segment increased by 2.66% to 35.44 million metric tons. Europe is the largest pet food producer on a regional basis with 11.45 million metric tons of production. It was followed by North America with 11.34 million metric tons and Latin America with 8.67 million metric tons. COMPOUND FEED PRODUCTION AND MARKET SITUATION ON A REGIONAL BASIS The global animal feed market exhibits different growth trends in different regions depending on factors such as economic development, dietary habits and livestock production practices. Asia-Pacific, the world's largest feed producer, is currently the region with the largest share in the global feed market due to rapid economic growth, increasing population and rising demand for animal protein. According to forecasts in Alltech Agri-Food Outlook 2024, feed production in the region increased by 1.40% to 475.33 million metric tons in 2023. In the same period, production in China, the world's and the region's largest feed producer, is estimated to have increased by 0.76% to 262.71 million metric tons. Pig feed ranked first in China's production with 100.40 million metric tons, followed by broiler feed with 94.63 million metric tons, layer feed with 32.09 million metric tons and aqua feed with 21.42 million metric tons. India, the second largest producer in the region, is estimated to have achieved a record increase of 13.43% in feed production and increased its production to 52.83 million metric tons. The largest share in India's feed production belongs to broiler feed with 19.72 million metric tons. This is followed by layer feed with 16.14 million metric tons and dairy feed with 13.94 million metric tons. Increasing disposable income, urbanisation and changing dietary habits in Asia-Pacific are increasing the demand for animal products such as meat, milk and eggs by consumers in the region and are the driving factors for the growth of the feed market. In some reports, the market is estimated to reach a value of USD 99 billion in 2030, growing at a CAGR of 7.31% from 2024 to 2029. The Americas, especially North America, is characterised as a mature market with well-established livestock farming systems. According to the estimated data compiled by Alltech, North America, which ranks third in world compound feed production with 259.26 million metric tons, produced 2.82% less feed in 2023 compared to the previous year. The US, the world's second largest feed producer with 238.09 million metric tons in 2023, is the leading producer in the region. The country produces about 62 million metric tons of cattle feed, about 58 million metric tons of broiler feed and 54 million metric tons of pig feed. In Latin America, feed production is estimated to have increased by 1.24% in 2023, reaching 200.67 million metric tons. Brazil, the largest feed producer in the region and the third largest in the world, increased its feed production by 1.84% to 83.32 million metric tons in the same period. Broiler feed production in the country was approximately 36 million metric tons and pig feed production was approximately 21 million metric tons. Growing demand for high quality animal protein, expansion of livestock farming, focus on animal health and welfare, and increasing adoption of
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