Swine Feed Market Analysis By Future Demand, Top Players, Size, Share, Opportunities, Revenue and Growth Rate Through 2027
The global swine feed market size is predicted to reach USD 148.17 billion by 2027, exhibiting a CAGR of 3.06% between 2020 to 2027. The increasing concerns regarding swine health and well-being can be a crucial factor boosting the growth of the market during the forecast period, states Fortune Business Insights in a report, titled “Swine Feed Market Size, Share & Industry Analysis, By Type (Starter Feed, Sow Feed, and Grower Feed), Additives (Vitamins, Amino Acids, Antibiotics, Enzymes, and Others), Form (Pellets, Mash, and Crumbles), and Regional Forecast, 2020 – 2027” the market size stood at USD 117.54 billion in 2019. The growing demand for high-quality pork meat across various regions of the world will subsequently create opportunities for the market in the forthcoming years.
The occurrence of covid-19 has arduously disturbed the entire world. The crisis
has caused an unwonted effect on businesses across various regions.
Nevertheless, government initiatives and strict measures can help defeat this
highly infectious virus. Numerous industries are in fraught yet thriving to
elevate from this catastrophe. Our team of researchers have analyzed the
current COVID data and prepared reports with new tactical information to help
sustain businesses during the global pandemic.
The report on the swine feed market highlights:
- Descriptive
analysis of the impact of the COVID-19 pandemic on the market;
- Tactical
insights for crisis management;
- All-Inclusive
Evaluation of the factors affecting the market; and
- Thorough data on
all the regions and prominent players in the market
Market Driver:
Rising Concentration on Animal Welfare to Augment Growth
The rising consumer inclination towards organic meat products is
predicted to foster the growth of the market. The rising production of organic
pig meat owing to the awareness pertaining to animal welfare will provide
impetus to the market. The increasing demand for well-bred pork meat has
impelled manufacturers to increase their production capacities, which, in turn,
will bode well for the market. The growing consumption of pork meat among
consumers in various forms such as ham, bacon, chops, and lions will further
enable speedy expansion of the market. The growing popularity of pork in
western countries will escalate the trade and production of swine in the
foreseeable future.
Market Restraint:
Declining Meat Consumption During Global Pandemic to Dwindle Market
Growth
The coronavirus outbreak has disturbed the animal feed industry
intensely. The temporarily shut down of businesses and operations has severally
triggered the swine feed market. Moreover, the spread of rumors concerning the
consumption of meat along with the misinformation about the toxic effects of
meat consumption will have a negative impact on the market. likewise, the
disruption of the supply chain due to the lockdown in various regions across
the globe will thwart the market growth. Besides, the uncertainty associated
with the current situation of COVID-19 will consequently create newer
challenges for the industry in the forthcoming years.
Regional Analysis:
Increasing Consumer Spending to Benefit Market in Asia Pacific
The market size in Asia Pacific is expected to account for the
maximum share in the global market owing to the rising consumption of pig meat
in Asian countries such as China, Japan, South Korea, Malaysia. The growing
utilization of swine feed in the countries will contribute positively to the
growth of the market. The surge in import and export activities will create new
opportunities for the region. The focus of manufacturers towards low-cost
production, enhanced distribution networks, and high profitability will support
market growth in Asia Pacific. The increasing urbanization and consumer
spending will have a tremendous impact on the market during the forecast
period. North America is expected to witness a substantial growth rate during
the forecast period due to the presence of numerous major players in the
region.
Key Development:
October 2018: Canadian Bio-Systems Inc.
(CBS Inc.) announced the launch of its Feed Science Platforms (FSPs). The FSPs
are designed to offer an inclusive portfolio of cutting-edge bio-based animal
feed technology solutions to benefit poultry, swine, ruminant, and aquaculture
production
Browse Detailed Research Insights with Table of
Content:
https://www.fortunebusinessinsights.com/swine-feed-market-103090
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