liquid feed market industry Outlook
Animal feed is an important component of animal feeding programs, and liquid feed has gained popularity in recent years. Liquid feed is cost-effective, easily digestible, non-toxic, anti-allergic, and aids in the prevention of disease outbreaks in animals. Market Research Future (MRFR) has released an in-depth analysis on the worldwide liquid feed market industry, predicting that the market will grow at a CAGR of 4.2 percent from 2017 to 2023.
The global population is shifting towards a more protein-rich diet, which has led to heightened demand for meat, dairy, and poultry products. To fulfill the towering food demands of the booming global population, farmers are increasingly emphasizing on increasing production through maintaining the health of the animals, which is inducing demand within the liquid feed market industry. Lately, the governments of multiple countries have extended their support for the agriculture and farming industry, which has been a key factor influencing the growth of the market. Financial subsidies to farmers offered by governments help to generate more demand within the market. Moreover, within the context of spreading livestock diseases, federal agencies are endeavoring to curb livestock diseases and encouraging the usage of animal feed that will boost the growth of the market in coming years.
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Cargill Inc. (U.S.), Land O’ Lakes (U.S.), Agridyne LLC (U.S.), GrainCorp (Australia), rcher Daniels Midland (U.S.), Midwest Liquid Feeds. (U.S.), Dallas Keith Ltd. (U.K), and Westway Feed Products (U.S.) are the key players in the global liquid feed market industry.
Region-wise, the liquid feed market industry has been segmented into North America, Rest-of-the-World (RoW), Europe, and Asia Pacific (APAC).
North America is the dominant liquid feed market industry. The growth of the market can be attributed to the high consumption rate of meat and meat products in the region. The cattle production industry in the region, especially in the US, is expanding continuously, which is supporting the growth of the market. Moreover, the presence of various key players in the region along with supportive government policies is boosting the growth of the liquid feed market industry in North America.
Europe is the second largest liquid feed market industry. High awareness regarding animal health and expanding poultry industry in the region is favoring the growth of the market.
The APAC liquid feed market industry is anticipated to exhibit remarkable growth over the forecast period. Burgeoning population, rising disposable income, and subsequent surge in the demand for meat and poultry products is fueling the growth of the APAC liquid feed market industry. Moreover, the level of awareness regarding animal health and nutrition has increased considerably in the developing countries of the region, where much of the growth is cornered. China is a key contributor to the APAC liquid feed market industry. The region is witnessing a trend of intensive farming system, which is proving beneficial for the growth of the market.
The global liquid feed market industry has been segmented based on ingredient and livestock.
By ingredient, the liquid feed market industry has been segmented into as phosphoric acid, trace minerals, vitamins, urea, fats, and others. The urea segment is likely to capture the largest share of the market over the forecast period while the trace minerals segment is anticipated to exhibit the highest CAGR over the forecast period. The trace minerals segment is likely to be followed by the vitamins segment.
By livestock, the liquid feed market industry has been segmented into ruminants, poultry, swine, aquaculture, pets, and others. The ruminant’s segment is leading the market. Ruminants are cost effective and have demonstrated high efficacy in improving animal health. The aquaculture segment is expected to register the highest CAGR followed by the poultry segment.
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