Meticulous Research®, a leading global market intelligence firm, has released a new study titled “Animal Feed Market Size, Share, Forecast, & Trends Analysis by Type (Compound Feed, Roughages), Source (Plant, Animal, Novel), Form (Dry (Pellets), Wet), Animal Type (Poultry, Ruminants (Beef, Dairy Cattle), Swine, Aquaculture) - Global Forecast to 2031”. This report offers an in-depth analysis of the global animal feed industry, identifying the market’s growth trajectory, significant segments, and key players.

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According to this latest publication, the global animal feed market is projected to grow at a CAGR of 4.7%, reaching an estimated $1,008.8 billion by 2031. In terms of volume, the market is expected to reach 2,965 million tons by 2031, expanding at a CAGR of 3.1% during the forecast period of 2024 to 2031. The report attributes this growth to the increasing commercialization of the livestock industry, rising consumer demand for animal-based products, and growing investments in R&D within the animal feed sector. However, fluctuating raw material costs may hinder market growth. Meanwhile, heightened awareness of animal health is anticipated to create promising opportunities for companies operating within this market.

Key Market Insights

Leading Players in the Market

Prominent companies operating within the global animal feed market include:

Charoen Pokphand Foods PCL (Thailand)
New Hope Liuhe Co., Ltd. (China)
Cargill, Incorporated (U.S.)
Brf S.A. (Brazil)
Tyson Foods, Inc. (U.S.)
Nutreco N.V. (Netherlands)
Archer-Daniels-Midland Company (U.S.)
Alltech Inc. (U.S.)
ForFarmers N.V. (Netherlands)
De Heus Animal Nutrition (Netherlands)
Royal Agrifirm Group (Netherlands)
Guangdong HAID Group Co., Ltd. (China)
These companies are recognized for their expertise in animal nutrition, innovative product development, and commitment to ensuring animal health and growth.

Market Segmentation and Key Trends

The global animal feed market has been segmented based on type, source, form, and animal type, as well as geographical regions.

By Type: Dominance of Compound Feed

Compound Feed: Expected to comprise the largest market segment at 71.8% in 2024, compound feed continues to be a preferred option among commercial livestock farmers and pet owners. This segment’s dominance is attributed to its nutritional benefits, which aid in faster and healthier animal growth, amid increasing concerns over animal health.
Feed Concentrates: Projected to be the fastest-growing segment, with a CAGR of 5.4% during the forecast period, driven by the demand for highly concentrated nutrients.
By Source: Rising Adoption of Plant-based Feed

Plant-based Feed: Anticipated to hold the largest share at 69.9% in 2024, driven by the wide availability of raw materials, cost-effectiveness, and acceptance in animal husbandry.
Novel Sources: Expected to grow at the highest CAGR of 6.0% through 2031, propelled by high nutritional content and government support for innovative protein sources to meet the rising demand for animal protein.
By Form: Preference for Dry Feed

Dry Feed: Representing a 92.7% market share in 2024, dry feed remains the top choice for livestock producers due to ease of storage, handling, and cost-effectiveness. Additionally, this segment is forecast to grow at a CAGR of 4.8%, driven by the poultry sector’s expansion and the increasing need for convenient bulk feed solutions.
By Animal Type: Poultry Segment Leads

Poultry: Accounting for 32.9% of the market in 2024, the poultry segment is driven by the growing demand for poultry meat and a shift in consumer preference for white over red meat.
Regional Insights: Asia-Pacific Leads the Market

Asia-Pacific: Projected to dominate the animal feed market with a 39.2% share in 2024, valued at $286.2 billion. This growth is attributed to factors including a growing population, increased meat consumption, substantial milk production, and the presence of key animal feed producers in the region.
Industry Growth Outlook

The global animal feed market is positioned for significant growth, influenced by rising demand for animal-based food products and increased R&D activities targeting nutrition. Industry challenges include fluctuating input costs; however, the market is set to benefit from innovations in feed composition, government support for sustainable practices, and advanced livestock management.

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