Global Swine Feed Market: Key Highlights
Global Swine Feed Market: Key Market Dynamics
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Global Swine Feed Market: Regional Overview
In North America, the swine feed market is expected to show an increase in the years to follow owing to growing meat consumption and increasing export of pork. As per the US Department of Agriculture, the U.S. pork and pork product exports to the world is up by 9% accounting for USD 7.0 billion in 2019 compared to 2018. Potentially thriving demand for Japan, China, and Mexico accounting for 59 % of the entire exports were at USD 1.5 billion, USD 1.3 billion, and USD 1.3 billion, respectively. In addition to this, increasing the export of pork to China from Canada, owing to the promising pork market. As per China pork Council, in 2018, Canada’s pork exports were almost USD 4 billion, wherein USD 514 million was exported to China accounting to the third-largest export market. Due to the higher demand for pork for exporting to other parts of the world, drives the demand for the pig industry. Owing to this, the demand for swine feed is on the rise in the North America region.
Europe is one of the prominent producers of pork and pork products especially countries such as Germany, Spain and France. In 2019, pork production in the European Union reached 24 million tonnes, wherein Germany (5.4 million tons), Spain (4.6 million tons), and France (2.2M tons) accounted for highest production share, accounting for 53% as combined production. In the last decade, Spain, shown rapid upsurge in the pork production whereas others experienced more modest paces of growth. The growing demand for pork across various cuisines drives market growth. In the wake of COVID, the domestic demand for pork in Europe has declined however, the producers may receive a hope owing to growing demand from China.
Global Swine Feed Market: Key Players Overview
Archer-Daniels-Midland Company, abbreviated as ADM, is the US-based food processing corporation. The company actively engaged in enhancing human life through offering a range of products dedicated to human as well as animal nutrition. ADM was established in 1923 in Delaware offering a wide array of products, ingredients, and solutions. The company operates through Ag Services and Oilseeds, Carbohydrate Solutions, Nutrition and another business segment. For swine feed, ADM offers products including MotiVate Starters, MaxLean Grow/ finish premix, MaxLean Grow/ finish complete feeds and others.
Cargill is the US-based food corporation engaged in the in trading, purchasing, manufacturing and distributing agricultural commodities and food ingredients. The company has the employee strength of around 155,000 professionals present across 70 countries. Cargill offers food ingredients, animal nutrition, protein & salt, agriculture supply chain and metals & Shipping. The company offers animal nutrition for swine, beef, aquaculture, dairy, and poultry. The company offers swine feed for the sows, piglets and hogs.
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