Market Overview:
Starter feed is a mixture of highly digestible protein products, acidifiers, probiotics, palatability agents and enzymes and is prepared commercially for livestock animals. These ingredients improve the feed performance when added to the available raw material. According to the report published by Market Research Future (MRFR), the global starter feed market is registered to expand at a significant rate during the forecast period of 2022-2030.
Market Drivers and Restraints:
Starter feed offers additional nutrients to the animal feed and enhances the digestion process, immune system and feed intake in the livestock. High nutritional benefits that are obtained from starter feed as compared to conventional feed is inducing high demand for starter feed in the global market, which in turn is propelling the growth of the global starter feed market.
Furthermore, starter feed also improves the health of livestock and aids in improving the yield quality and quantity. Hence, growing concerns regarding the health of livestock and increasing global demand for poultry, meat and dairy products is generating demand for high-quality feed, leading to the expansion of the global starter feed market. Rapid adoption of advanced technology for easy production and enhancement in the quality of feed are projected to be impacting positively on the growth of the global starter feed market.
On the flip side, easy availability of alternatives such as conventional feed and high cost of manufacturing are some of the factors that are restraining the growth of the global starter feed market during the forecast period.
Market Segmentation:
The global Starter Feed Market Overview has been segmented on the basis of type, form and livestock. Based on type, the starter feed market is segmented into medicated and non-medicated. The medicated segment in accounts for the major share in the global starter feed market as they provide multiple health supporting properties.
Based on form, the starter feed market is segmented into mash, pellets and others. The pellets segment is dominating the global starter feed market owing to the ease of handling, storage and feeding of pellets as compared to other forms of feed. Based on livestock, the starter feed market is segmented into poultry, ruminants, swine, aquatic and others. The poultry segment is the largest segment in the global starter feed market due to the increased consumption of poultry products, globally.
Regional Analysis:
Geographically, the global starter feed market is segmented into four major regions, namely, Europe, North America, Asia Pacific and the rest of the world. Among these, the North America region is projecting dominance over the global starter feed market owing to the high demand for good quality poultry and meat products in this region. The starter feed market in the Asia Pacific region is growing at a significant rate due to increasing consumption of poultry and meat products and growing awareness regarding the health of livestock in this region. Increasing demand for poultry products in the countries like Germany and the U.K. is boosting the starter feed market in the Europe region.
Industry Updates:
In August 2018, the study carried out by the researchers from Osnabrück University of Applied Sciences (Germany) has concluded that inclusion of humic acids in starter feed leads to increased feed consumption in just-weaned piglets.
In June 2018, Biomin, an international animal-nutrition company that markets phytogenic feed additives (PFAs) for cattle, swine and other animals, has recently completed a global survey and concluded that the phytogenic feed additives are gaining more attention in the global market due to their digestibility enhancement and antimicrobial effects.
According to the MRFR reports, the global Starter Feed Market Size is likely to attain a over USD 46.10 Billion by the end of 2030 while flourishing at a healthy CAGR of over 7.22% during the forecasted era.
Key Players:
The major players that are profiled by MRFR in the report on the global starter feed market are Associated British Foods Plc (the U.K), Archer-Daniels-Midland Company (the U.S.), Cargill Inc. (the U.S.), Purina Mills, LLC (the U.S.), Evonik Industries AG (Germany), Roquette Frères S.A. (France), Godrej Agrovet Limited (India), Nutreco N.V. (the Netherlands), Alltech, Inc. (the U.S.), and Charoen Pokphand Foods PCL (Thailand).
NOTE: Our Team of Researchers are Studying Covid19 and its Impact on Various Industry Verticals and wherever required we will be considering Covid19 Footprints for Better Analysis of Market and Industries. Cordially get in Touch for More Details.
Contact us:
Market Research Future (part of Wantstats Research and Media Private Limited),
99 Hudson Street,5Th Floor, New York, New York 10013, United States of America
