Global Starter Feed Market Size 2024, Forecast To 2033
6 Mar, 2024
The starter feed market has demonstrated robust growth, increasing from $32.83 billion in 2023 to $35.4 billion in 2024, representing a compound annual growth rate (CAGR) of 7.8%. Historical growth is attributed to factors such as a growing focus on animal health and welfare, the expansion of commercial poultry farming, the globalization of livestock farming, advancements in feed manufacturing, a focus on disease prevention, and consumer demand for quality animal products. Looking ahead to 2028, the market is poised for strong growth, reaching $46.21 billion at a CAGR of 6.9%. Contributing factors in the forecast period include the integration of sustainable practices, the growing market for specialty livestock, the expansion of the aquaculture industry, a focus on antibiotic-free animal farming, and increasing demand for plant-based proteins. Noteworthy trends during this period encompass collaboration in animal nutrition research, feed efficiency technologies, early nutrition programming, pelletization and crumbling technologies, and customization for different species.
Global Starter Feed Market Key Driver
The expansion of the aquaculture industry is expected to propel the growth of the starter feed market. Aquaculture, involving the controlled breeding, raising, and harvesting of aquatic species for commercial purposes, heavily relies on starter feed to support the growth and development of fish and aquatic animals. Starter feed enhances protein, vitamin, mineral, carbohydrate, and amino acid levels in fish. In June 2022, global aquaculture production reached a record 122.6 million metric tons, valued at USD 281.5 billion in 2020, according to Reliefweb. Additionally, The International Trade Administration projected the global aquaculture market to grow from $204 billion in 2020 to an estimated $262 billion by 2026. Hence, the flourishing aquaculture industry is a driving force behind the growth of the starter feed market, with market sizes reflecting values for 2023, 2024, and 2028.
Get A Free Sample Of The Global Starter Feed Market ReportGlobal Starter Feed Market Segments
The starter feed market covered in this report is segmented –
1) By Type: Medicated, Non-Medicated
2) By Form: Pellets, Crumbles, Other Forms
3) By Ingredient: Wheat, Corn, Soybean, Oats, Barley
4) By Nature: Organic, Conventional
5) By Application: Poultry, Ruminants, Swine, Aquatic, Equine, Other Applications
By Geography:The regions covered in the starter feed market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain
North America was the largest region in the starter feed market in 2023. The regions covered in the starter feed market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
Major Starter Feed Industry Players
Cargill Incorporated, BASF SE, Evonik Industries AG, Archer Daniels Midland Company, Purina Mills LLC., Charoen Pokphand Group Co. Ltd., Roquette Freres SA, Alltech Inc., ACI Godrej Agrovet Private Limited, Associated British Foods plc, Nutreco N.V, Koninklijke DSM N.V., Devenish Nutrition Ltd., Janaki Group Of Companies, lYork Ag, De Heus Animal Nutrition BV, ForFarmers NV, Land O'Lakes Inc., Hi-Pro Feeds LP, Kent Nutrition Group Inc., Ridley Corporation Limited, Japfa Comfeed Indonesia Tbk PT, Guangdong Haid Group Co. Ltd., Wen's Food Group Co. Ltd., Twins Group Inc., New Hope Liuhe Co. Ltd., East Hope Group Company Limited, Tyson Foods Inc., The Scoular Company, Nutriad International NV
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Starter Feed Market Overview
Starter feed refers to nutrient-dense feed that helps the young animal become accustomed to solid food and boosts its absorption of subsequent feeds. It helps to assist the growth of very young animals and reduce mortality.
Starter Feed Global Market Report 2023 provides data on the global starter feed market such as market size, growth forecasts, segments and geographies, competitive landscape including leading competitors’ revenues, profiles and market shares. The starter feed market report identifies opportunities and strategies based on market trends and leading competitors’ approaches.