Animal Food Market Size - Global Industry, Share, Analysis, Trends and Forecast 2023 - 2032

The Global Animal Food Market Size accounted for USD 562.7 Billion in 2022 and is projected to achieve a market size of USD 838.2 Billion by 2032 growing at a CAGR of 4.2% from 2023 to 2032. The animal food market is experiencing steady growth due to the increasing demand for meat and dairy products, especially in developing countries. As the world population continues to grow, so does the need for animal products, making this market highly profitable for farmers and manufacturers. Additionally, the increasing awareness about animal nutrition and health is driving the demand for high-quality animal feed, which is leading to the development of innovative products and technologies.

Animal Food Market Report Key Highlights

• Global animal food market revenue is expected to increase by USD 838.2 Billion by 2032, with a 4.2% CAGR from 2023 to 2032
• Beef is the second most commonly consumed meat globally, with production of more than 71 million tons in 2018
• According to the Food and Agriculture Organization of the United Nations (FAO), the global consumption of meat per capita has increased from 41.3 kg in 2009 to 43.1 kg in 2019.
• The FAO also reports that in 2018, the top 5 meat producing countries were the United States, China, Brazil, the European Union, and Australia.
• The global egg production in 2020 was estimated at around 83 million metric tons, with China being the largest producer, followed by the United States and India.
• In 2020, the global milk production amounted to approximately 828 million metric tons, with India being the largest producer, followed by the United States and China.
• According to the World Wildlife Fund, animal agriculture is responsible for up to 91% of Amazon rainforest destruction.
• Growing awareness of animal nutrition and health, drives the animal food market size

Animal Food, also abbreviated as AaaS, refers to the provision of software-based operations and analytics via web-delivered technologies. Such Type of animal of solutions offers enterprises and businesses an alternative to developing a setup for internal hardware to perform business analytics. Animal Food is becoming an increasingly popular and valuable option for businesses since setting up an overall analytics process might be a tedious and work-intensive process. Businesses that require performing more analytics might need relatively more servers and other Type of animals of hardware. They might also require more staff for information and technology in order to maintain and implement such programs. If a business can deploy Animal Food instead, it might be able to bypass such new added costs.

Global Animal Food Market Trends

Market Drivers

• Increasing demand for animal-based products
• Growing awareness of animal nutrition and health
• Rising pet ownership and humanization of pets
• Technological advancements in animal feed production

Market Restraints

• Stringent regulations and policies regarding animal feed production
• Fluctuations in raw material prices

Market Opportunities

• Rising demand for organic and natural animal feed
• Emergence of alternative proteins for animal feed
• Growing popularity of e-commerce channels for animal food distribution

Animal Food Market Report Coverage

The rising trend of animal husbandry and pet care is anticipated to create a better opportunity for animal food suppliers in the coming years. The market is characterized by the presence of a high level of competition among different manufacturers. Increasing awareness of animal owners towards their animal health coupled with rising disposable income is the primary factor predicted to increase the demand for animal food during the forecast period, thereby creating a better opportunity for various branded and packaged food manufacturers. Moreover, the increasing trend of nuclear families across the globe is also predicted to indirectly affect the demand for animal food positively. The rising trend of the nuclear family increases the demand for animals for companion purposes. This, in turn, is anticipated to boost the demand for animal food across various regions.

However, allergies associated with the hair of animals are a major factor predicted to deter the demand for animals. This, in turn, is expected to affect the market of animal food negatively. In addition, different government regulations across the globe act as restraining factors for the growth of the animal food market. Moreover, the rising cost of feeding animals along with various social and cultural regulations also limit the growth of the animal food market across various regions, especially in the Middle East.

Animal Food Market Segmentation                                             

The global animal food market segmentation is based on type of animal, product type, distribution channel, and geography.

Animal Food Market By Type of Animal

• Cattle feed
• Poultry feed
• Swine feed
• Equine feed
• Pet food
• Aquaculture feed
• Others

According to animal food industry analysis, the cattle feed segment is leading the market in 2022. The demand for cattle feed is increasing due to the rising demand for meat and dairy products across the world. Cattle feed is formulated to meet the specific nutritional needs of cows, including protein, carbohydrates, and minerals. The cattle feed segment is expected to grow in the coming years due to the increasing adoption of precision farming techniques, which helps farmers to monitor and manage their cattle's nutritional needs. Additionally, there is a growing demand for organic and natural cattle feed, as consumers are increasingly concerned about the use of antibiotics and growth hormones in animal feed. The emergence of alternative proteins such as insect-based and algae-based feed is also opening up new opportunities for the cattle feed segment.

Animal Food Market By Product Type

• Concentrates
• Additives
• Premixes
• Supplements
• Compound feed
• Others

In terms of product type, concentrates are a significant segment in the animal food market. Concentrates are typically high in protein and energy and can be used to supplement other types of feed or used as a complete feed for animals with low nutritional requirements. The demand for concentrates is increasing due to the rising demand for animal protein and the need to improve the productivity of livestock animals. Concentrates are commonly used in the production of feed for poultry, pigs, and ruminants such as cattle and sheep. The concentrates product type is expected to grow in the coming years, driven by the increasing adoption of precision farming techniques and the demand for high-quality animal feed.

Animal Food Market By Distribution Channel

• Direct sales to farmers
• Distributors and wholesalers
• Online retail
• Pet stores
• Supermarkets and hypermarkets
• Others

According to the animal food market forecast, direct sales to farmers are expected to grow rapidly in the market over the next few years. Direct sales to farmers are becoming increasingly popular due to the growing trend towards precision farming, where farmers monitor and manage their livestock's nutritional needs. The direct sales channel allows farmers to obtain high-quality animal feed quickly and efficiently, which can help improve the productivity of their livestock. Direct sales to farmers also allow manufacturers to develop close relationships with their customers, providing them with valuable feedback that can help improve their products. The increasing adoption of e-commerce platforms is also making it easier for manufacturers to sell their products directly to farmers, which is opening up new opportunities for this distribution channel.

Animal Food Market Regional Outlook

North America

• U.S.
• Canada

Europe

• U.K.
• Germany
• France
• Spain
• Rest of Europe

Asia-Pacific

• India
• Japan
• China
• Australia
• South Korea
• Rest of Asia-Pacific

Latin America

• Brazil
• Mexico
• Rest of Latin America

The Middle East & Africa

• South Africa
• GCC Countries
• Rest of the Middle East & Africa (ME&A)