Research and Markets says market will reach $138.5 billion in 2020
Research and Markets has announced the addition of the ”Global Swine Feed Market – Trends And Forecasts (2014-2020)“ report to its offering.
The global swine feed market, a $114 billion market in 2013, is estimated to grow at a CAGR of 2.9% to reach $138.5 billion by 2020, with Asia-Pacific and South America being the major contributors to the global growth.
Pork is mainly consumed in Europe, Asia-Pacific, and North America and is a very popular meat in these regions. Pork production is estimated to grow at a CAGR of 1.7% from 2012 to 2017. It is the meat of choice worldwide, and offers growth opportunity for the global compound feed market. Compound feed consumption for swine is mainly concentrated in China, U.S., Europe, Brazil and Canada as these countries are among the top pork meat producers.
According to the Food and Agricultural Organization, 50% of the global pig population is concentrated in China followed by EU and U.S.; such trends show that these regions will remain the highest compound feed consumers for pork production. Pacific countries like Japan, Australia, Mexico, New Zealand, and North Korea are the major pork importers, whereas China, U.S., Canada, EU, and Brazil are the major pork exporters.
With rising pork trade and concerns over food safety, demand for compound feed is expected to increase to ensure meat quality and safety.