Market Introduction
The food given to domestic or farm animals in the course of animal husbandry is called an animal feed. Fodder and forage are the two main types of animal feed. Animal feed is mostly of vegetarian origin prepared for farm animals. The supply of good quality animal feed ensures improvements such as production, metabolism, and health responses in animals. Corn, soybeans, barley, and oats are some vital ingredients used in the making of animal feed.
Market Overview and Dynamics
The North America animal feed market is expected to reach US$ 118,570.29 million by 2027 from US$ 85,635.32 million in 2018. The market is anticipated to grow with a CAGR of 3.6% from 2019 to 2027. Rise in industrial livestock production and increasing demand for protein rich animal feedare some of the factors driving the market growth in North America. However, implementation of stringent regulations on animal husbandry is likely to have a negative impact on the market growth.
Effect of COVID-19 on North America animal feed market
The ongoing COVID-19 outbreak began in Wuhan (China) in December 2019, but later it spread to all the parts of the world. The North American food and beverage industry is adversely affected as it is facing various disruptions such as supply chain breaks, lockdowns, travel bans, and business shutdowns. The US has the highest number of confirmed cases of COVID-19, compared to Canada and Mexico. This is likely to impact the food and beverages industry in the region, which in turn affect the supply chain of the goods. Additionally, the delay in overall manufacturing processes, research, and development activities will also impact market growth.
Key Market Segments
In terms of form, the pellets segment is expected to hold the largest share of the animal feed market by 2027. In terms of livestock, in 2018, the poultry segment held the most significant share of the animal feed market in North America.
Major Sources and Companies Listed
Some of the major primary, secondary sources, and companies for North America animal feed market included in the report are Archer Daniels Midland Co., Cargill Inc., Charoen Pokphand Foods Plc., Evonik Industries AG, Land O'Lakes, Inc., New Hope Group Co. Ltd, Nutreco NV and Perdue Farms, Inc.
Reasons to buy the report
North America Animal Feed Market Segmentation
By Form
By Livestock
Company Profiles
By Country
| Report Attribute | Details |
|---|---|
| Market size in 2018 | US$ 85,635.32 Million |
| Market Size by 2027 | US$ 118,570.29 Million |
| CAGR (2019 - 2027) | 3.6% |
| Historical Data | 2016-2017 |
| Forecast period | 2019-2027 |
| Segments Covered |
By Form
|
| Regions and Countries Covered |
North America
|
| Market leaders and key company profiles |
|
The North America Animal Feed Market is valued at US$ 85,635.32 Million in 2018, it is projected to reach US$ 118,570.29 Million by 2027.
As per our report North America Animal Feed Market, the market size is valued at US$ 85,635.32 Million in 2018, projecting it to reach US$ 118,570.29 Million by 2027. This translates to a CAGR of approximately 3.6% during the forecast period.
The North America Animal Feed Market report typically cover these key segments-
The historic period, base year, and forecast period can vary slightly depending on the specific market research report. However, for the North America Animal Feed Market report:
The North America Animal Feed Market is populated by several key players, each contributing to its growth and innovation. Some of the major players include:
The North America Animal Feed Market report is valuable for diverse stakeholders, including:
Essentially, anyone involved in or considering involvement in the North America Animal Feed Market value chain can benefit from the information contained in a comprehensive market report.
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