The Global Swine Feed Market is projected to reach a value of over USD 143.7 billion by 2027 at a CAGR of 3.4%.
Pig or Swine feed can be referred to as the specialized formulation designed especially for meeting the nutritional need of the piglet, sow and pig. The swine feed includes enzymes, anti-oxidants, amino-acid, vitamins, minerals and other essential elements for adequate and necessary growth of the pig across different stages of life. The nutritional need of the animal differs at different stages of life, which impacts the nutritional content and its amount in the swine feed.
Market Driver:
Meat is considered as one of the prominent sources of nutrition for major population pool across the globe. The demand for meat is increasing creating pressure on the meat producers to cater and settle the globally rising demand. Increasing global population driving a higher need for food has resulted in the consumption of meat at a rapid pace. According to the world counts statistics, meat consumption across the globe is assumed to range between 460 million to 570 million tons by 2050, representing twice as high as than that in 2008. An upsurge in demand for overall meat, drives the demand for animal feeds for higher meat production. Hike in health-conscious population with a keen observation on the nutrition with higher demand for pork from the processed food sector further pushes the demand for swine feed. According to United Nations Food and Agriculture Organization (FAO), the global demand for food is expected to thrive by 60% by end of 2050 from 2010, whereas meat production projected to rise by nearly 70%. Due to rapidly demand for meat as a prime source of nutrition is driving the demand meat demand, which fuels the swine feed market.
Market Restraint:
The swine feed market is expected to impact the market growth negatively owing to fluctuating prices of soybean and corn. The cost of the swine/animal feed is mainly accredited to the high cost of raw material. For instance, higher prices of raw material have led to higher prices of pig feed in 2016 when compared to 2015. In 2016, the prices increased by an average of 4 % compared to 2015, as per Agriculture and Horticulture Development Board. There was a range of feed prices across the EU countries, with a difference of £80 per ton between the highest and lowest average farm feed price in 2016.
Changes in Feed Cost
Source: Agriculture and Horticulture Development Board
The report on the swine feed market covers a deep dive analysis of historic, recent and current market trends. Furthermore, market share/ranking analysis of key players, market dynamics, competition landscape, country-wise analysis for each region covered and the entire supply chain dynamics are covered through the below segmentation.
Report Features |
Specifics |
---|---|
Historical/Estimated/Forecasted Market Size Years |
2019-2027 |
Base Year for Market Calculation |
2019 |
Forecasted Period |
2020-2027 (2020 estimated year, forecasted up to 2027) |
Measured Units |
Value (USD Million) |
Segments Included |
Type, Form and Ingredient |
Regional Coverage |
North America, Asia-Pacific, Europe, Middle East & Africa, South America |
For the scope of the report, In-depth segmentation is offered by Forencis Research
Swine Feed Market, by Type
Swine Feed Market, by Form
Swine Feed Market, by Ingredient
Swine Feed Market, by Region
60+ MARKET TABLES AND 30+ FIGURES WILL BE INCLUDED IN THE SWINE FEED MARKET STUDY
Note1: Tentative table of contents, may get updated during the course of research.
Note2: Company financial information is subject to availability in public domain
60+ MARKET TABLES AND 30+ FIGURES WILL BE INCLUDED IN THE STUDY