Home > > Global Animal Feed Market Report
The Animal Feed market was valued at $628.5 Billion in 2023, and is projected to reach $849.3 Billion by 2030 growing at a CAGR of 4.46% from 2024 to 2030. Pellets segment is expected to be the highest contributor to this market, with $322.1 Billion in 2023, and is anticipated to reach $427.7 Billion by 2030, registering a CAGR of 4.20%. Crumbles segment is anticipated to reach $246.9 Billion by 2030 with the highest CAGR of 5.19%. Pellets and Crumbles segments collectively expected to account for about 78.9% share of the Animal Feed market in 2023, with the former constituting around 51.3% share. Crumbles and Pellets segments are expected to witness significant growth rates at a CAGR of 5.19% and 4.20% respectively, during the forecast period. Presently, share of these two segments is estimated to be around 78.9% in the overall Animal Feed market in 2023, and is anticipated to reach 79.4% by 2030. The drivers of the animal feed market include the rising demand for meat and animal-based products, the increasing commercial livestock production, and the growing awareness of the health benefits of algae-based ingredients in animal feed. Additionally, the incorporation of non-GMO crops in animal feed and the increasing expenditure capacity of consumers are also driving the market forward. Furthermore, extensive research and development and the implementation of favorable government policies promoting the use of quality animal feed are also contributing to the growth of the market. The animal feed market also presents several opportunities for growth. The increasing demand for sustainable protein sources is driving the demand for animal feed. Additionally, the growth of the livestock industry and the increasing awareness of animal health and nutrition are also creating opportunities for the animal feed market. Furthermore, the increasing demand for meat and aquaculture products in regions like Europe and the growing demand for animal feed in countries like India and China are also expected to drive market growth. Form Pellets Crumbles Mash Other Forms Animal Type Ruminants Poultry Swine Aquaculture Other Animal Types BY REGION North America US Canada Europe Germany U.k. France Italy Belgium Rest of Europe Asia China Japan South Korea Indonesia India Rest of Asia Middle East Africa Brazil Mexico Turkey Rest of Middle East Africa