BCC Research reveals in its new report, “Compound Feeds and Additives: Global Markets,” that the global market for animal feed reached $99.7 in 2012 and $106 billion in 2013. This is expected to grow to $144.4 billion in 2018, registering a five-year compound annual growth rate (CAGR) of 6.4 percent.
In terms of compound feed types, the global market for compound feed is primarily driven by the pet food industry, which had a share of about 51 percent of the overall industry in 2013. The market is expected to be valued at $117.8 billion by the end of 2018, rising at a CAGR of 6.6 percent.
The Asia-Pacific market for cattle feed is expected to rise at a robust rate of 8.3 percent over the same five-year period, owing to factors such as shrinkage of open land for cattle grazing, urbanization and the resultant shortage of conventionally used cattle feeds, and the introduction of high-yield cattle that require specialized feeds.
“Compound Feeds and Additives: Global Markets” provides an overview of the current and future characteristics of the global market for animal feed and feed additives. This report explores present and future strategies within the animal feed market, which includes the different types of compound feeds and feed additives. The improving market, the setbacks, and the needs of the market are also discussed in this report. Revenues are broken down by region as well as by the feed type and feed additive. Estimate figures are shown for the five-year period from 2013 through 2018. The report also covers significant patents and their allotments in each category.