The major players in the compound feed market are Cargill Inc., The Archer-Daniels-Midland Company, New Hope Group, Charoen Pokphand Food, Land O’Lakes Inc., Nutreco N.V, Guangdong Haid Group Co Ltd., Forfarmers NV, Alltech, Feed One Co., Ltd., J. D. Heiskell & Company, Inc., Kent Nutrition Group, Purina Animal Nutrition LLC, Ballance Agri-Nutrients Ltd., DuPont de Nemours Inc., De Heus Vietnam LLC, and Elanco Animal Health Incorporated, as reported in “Compound Feed Global Market Report 2023” by Reportlinker.com.
Market Value & Projection
According to the report, the global compound feed market increased from $444.2 billion in 2022 to $468.9 billion in 2023, with a compound annual growth rate (CAGR) of 5.6%.
However, the Russia-Ukraine war disrupted global economic recovery from the COVID-19 pandemic in the short term, leading to economic sanctions on multiple countries, commodity price surges, and supply chain disruptions, causing inflation across goods and services and affecting many markets globally. The compound feed market is expected to grow to $573.93 billion in 2027 at a CAGR of 5.2%.
The compound feed market includes sales of grains, brans, protein meals and cakes, chunnies, agro-industrial by-products, and related services. Compound feed is a complete or complementary feed consisting of at least two feed components and feed additives used for oral animal feeding and nutrition.
Asia-Pacific was the largest region in the compound feed market in 2022, while South America is expected to be the fastest-growing region in the forecast period. The main components of compound feed are cereals, cakes, meals, byproducts, and supplements, and it is available in solid and liquid forms from plant and animal sources. Compound feed is used to feed cattle, swine, poultry, aquaculture, and other animals.
An increase in demand for meat and aquaculture products is expected to drive the growth of the compound feed market. Meat products contain flesh from animals such as cattle, buffalo, goats, sheep, pigs, and fowl, while aquaculture is the commercial, recreational, and scientific multiplication and management of aquatic plants, animals, and other species. Compound feed contains all the essential nutrients required for farmed fish to stay healthy, thereby increasing the demand for meat and aquaculture products.
Innovation & Trends
Product innovation is a key trend in the compound feed market, with major companies looking for new products with unique features to strengthen their market position. For instance, Cargill launched poultry feed with essential oils in 2021 to promote egg size, weight, and production, enhanced palatability, and a fresh aroma. In March 2021, Royal De Heus BV acquired Golpasz, a Poland-based animal feed company, to strengthen its knowledge related to animal nutrition, product technology, and livestock farming.