Fact.MR, a market research and competitive intelligence provider, worldwide sales of starter feed stand at US$ 30.4 billion in 2023 and are forecasted to increase rapidly at a CAGR of 7% through 2033. By the end of the forecast period (2023-2033), the global starter feed market is estimated to attain a revenue of US$ 59.9 billion.
Demand for beginning feed is expected to be primarily driven by meat consumption and the rising demand for food items made from animals around the world in the upcoming years. Other factors that might support market growth in the future include the rising acceptance of fermenting livestock feed, the increased focus on animal health, a paradigm shift toward modern livestock farming techniques, rising per capita disposable income, rising consumption of poultry meat globally, and rising investments in the creation of novel starter feed products.
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Growing recognition of the value of protein consumption in young animals is anticipated to create new business opportunities for emerging feed businesses worldwide. To ensure the best animal health, the increased incidence of animal diseases and rising prevalence of zoonotic diseases are also anticipated to increase demand for starting feed. Due to the increased demand for chicken meat and eggs, poultry feed is expected to be in high demand.
“Growing Meat Consumption Projected to Crucially Boost Starter Feed Demand”
Globally, the demand for meat is reaching new heights despite a rising number of people opting for plant-based diets and vegan foods. This trend has bolstered the demand for animal feed on a global scale as food suppliers across the world scramble to benefit from growing meat consumption.
- As per data provided by Statista, in 2021 poultry meat accounted for the highest share of meat consumed followed by pork, beef, and veal. Pork and poultry meat consumption has picked up pace in the past couple of decades and is anticipated to maintain a bright outlook over the coming years as well.
Prime starter feed suppliers are focusing on launching new products to expand their product portfolio and drive sales potential.
- In March 2022, York Ag, a leading name in the animal nutrition and well-being industry announced the launch of Alterna HTS, a feed additive that uses natural ingredients to regulate the gut Histomonas population in poultry birds. The new product is available in organic as well as conventional configurations for customers.
- In January 2020, Alltech Coppens, a leading name in the fish feed industry announced the launch of new starter feeds for trout fish. The TOP fry feed was backed by research from Alltech Coppens Aqua Centre (ACAC) and provides key nutrients to the fish while improving the water quality.