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Starter Feed Market Rising Demand, Trends, Size, Share, Application, Pricing Analysis and Growing Industry 2020 to 2024: Market Research Future
Starter Feed Market
The Global Starter Feed Market is expected to register 4.08% CAGR from 2019 to 2024 and reach USD 24.18 billion by the end of 2024. Starter feed market is observing an exponential growth based on its high usage in the feed industry. They offer additional nutrients such as minerals, antioxidants, amino acids, and vitamins to the animal feed. They are used for improving the feed quality and animal health by reducing livestock diseases. Starter feed is majorly natural or synthetic ingredients that are added to the feed in order to improve the feed performance. The major types of starter feed include medicated and non-medicated.
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With the growing consumer awareness regarding livestock health, growing concerns about animal nutrition and their healthy eating habits, the demand for starter feed has increased to a greater extent. Starter feed provides additional nutrients and improves the quality of livestock feed. Additionally, increasing demand for animal feed products with high nutritional content is driving the growth of the starter feed market. Furthermore, advance processing methods & technologies, and high opportunities in developing countries are positively supporting the growth of the market.
However, the high cost of processing and raw materials may hamper the starter feed market over the review period. The market players are responding to these new opportunities by expanding their service offerings/product lines, which has boosted the share of the starter feed in the global market. The global starter feed market is expected to grow at a CAGR of 4.7% during the forecast period, 2017-2023.
Starter Feed Market Downstream analysis
The global starter feed market is segmented into type, form, and livestock.
Based on the type, it is segmented into medicated, and non-medicated. Among both, the medicated type holds the major market share followed by the non-medicated type.
Based on the form, it is segmented into mash, pellets, and others. The pellets segment is dominating the market. Ease of storage, handling, and feeding has uplifted the demand for the pellets form.
Based on the livestock, the starter feed market is segmented into poultry, swine, ruminants, aquatic, and others. Among all, the poultry segment is dominating the market.
Starter Feed Market Competitive analysis
Cargill, Inc. (US), Evonik Industries AG (Germany), Archer Daniels Midland Company (US), Purina Mills, LLC (US), Associated British Foods PLC (UK), Alltecht (US), Charoen Pokphand Foods PCL (Thailand), Nutreco N.V. (Netherlands), ACI Godrej Agrovet Private Ltd (India), Roquette Freres S.A. (France), Vimala Feeds Private Limited (India), C-Feed AS (Norway), CCPA GROUP (France), Land O'Lakes, Inc. (US), and Tyson Foods, Inc. (US) are some of the key players in the global starter feed market
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Starter Feed Market Regional Analysis
The global starter feed market is segmented into North America, Europe, Asia Pacific, and rest of the world (RoW). The North American region is dominating the starter feed market followed by Asia Pacific owing to rising population followed by increasing consumption of poultry & meat products in both the regions. The U.S. dominates the North American starter feed market owing to increasing awareness regarding livestock health in these regions.
Moreover, high demand for nutritive animal feed products for overall growth & development of animals is driving the market growth in the Asia Pacific region and is further anticipated to uplift the growth of starter feed market during the forecast period.
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