Market Size – USD 7.28 Billion in 2020, at a CAGR of 7.1%, – Increasing incidence of contamination in animal products due to use of pesticides and insecticides
NEW YORK CITY, NEW YORK, UNITED STATES, October 26, 2021 /EINPresswire.com/ — The global organic feed market size is expected to reach USD 12.60 Billion by 2028 and register a CAGR of 7.1% over the forecast period, according to the latest report by Reports and Data. Increasing adoption of organic farming practices to cater to growing consumer concerns regarding animal health and contamination of products is a key factor driving market revenue growth. Increasing demand for organic food products, growing organic livestock farming, and increasing need to improve health and performance of livestock are some other key factors expected to drive revenue growth of market over the forecast period. Increasing availability of high-yielding crops such as wheat, barley, and corn across developing countries and increasing awareness about the benefits of organic feed for livestock are also expected to drive demand for organic feed over the forecast period.
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Organic feed is produced by methods that adhere to prerequisite standards of organic farming. Organic feed comprises variety of feeds without herbicides and pesticides, and are developed for diverse livestock. These are devoid of chemical preservatives, growth hormones, medications, additives, or animal by-products. Organic feed is produced using wheat, barley, soybean, corn, and rapeseed. It is specifically designed to ensure maximum health and productivity of animals as it maintains optimum pH levels in rumen to improve digestion and enhance life quality of animals. Increasing shift towards more efficient bio-based and natural approaches to increase global livestock numbers to cater to growing consumer demand for more sustainable and organic products is expected to further fuel revenue growth of the market over the forecast period.
Increasing adoption of organic farming to cater to rising consumer demand for organic meat and meat products is expected to boost demand for organic feed going ahead. Increasing awareness about safe and nutritious organic food products in emerging economies is also expected to create major growth opportunities in the market over the forecast period. However, high costs of organic feed and lack of availability of permitted organic feed ingredients in the market are some key factors expected to restrain market growth to a certain extent over the forecast period.
Major companies operating in the market include Cargill, BernAqua, Country Heritage Feeds, ForFarmers, SunOpt, Ranch-Way Feeds, Aller Aqua, Purina Animal Nutrition LLC, Scratch and Peck Feeds, K-Much Feed Industry Co., Ltd., The Organic Feed Company, B&W Feeds, Feedex Companies, Country Junction feed, and Green Mountian Feeds, among others.
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For the purpose of this report, Reports and Data has segmented the global organic feed market based on type, form, livestock, and region:
Type Outlook (Volume, Kilo Tons; Revenue, USD Billion; 2018-2028)
• Cereals & Grains
Form Outlook (Volume, Kilo Tons; Revenue, USD Billion; 2018-2028)
Livestock Outlook (Volume, Kilo Tons; Revenue, USD Billion; 2018-2028)
• Aquatic animals
Regional Outlook (Volume, Kilo Tons; Revenue, USD Billion; 2018-2028)
• North America
• Asia Pacific
• Latin America
• Middle East & Africa
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Some Key Highlights From the Report:
• Cereals and grains segment is expected to register significant revenue growth over the forecast period owing to increasing production of high-yield crops such as wheat, barley, and corn across the globe. Organic feed majorly contains wheat, barley, and corn and this is expected to further contribute to revenue growth of this segment.
• Pellets segment is expected to account for a significant revenue share in the global market over the forecast period. Steady growth can be attributed to pellets form being the most widely preferred form of organic feed. This form is easy to feed animals with and is convenient to store.
• Poultry segment is expected to register significant revenue CAGR over the forecast period owing to increasing demand for organic meat and rising consumption of poultry meat worldwide. Increasing concerns surrounding animal health and productivity and rising awareness about benefits of organic feed in the poultry sector are factors expected to drive revenue growth of this segment.
• North America is expected to account for around 30% of revenue share in the global market over the forecast period owing to increasing availability of permitted food additives, increasing financial support from governments to farmers adopting organic farming practices, and robust presence of key market players in countries in the region.
• In March 2021, Nature Bio Foods BV, which is a wholly owned subsidiary of Nature Bio Foods India and a global leader in production of organic food producer, unveiled its state-of-the-art organic food processing plant in the Netherlands. The state-of-the-art facility is a venture taken up by the company to provide organic food ingredients, which are sourced from organic farms in India and other Asian countries, to customers.
Key insights presented in the report:
• Market revenue shares by major business players, by type, application, and market scope of global Organic Feed market
• Sales revenue by key players and new entrants
• Competitive analysis of key players, including company overview, product or services specification, vendors, and buyers.
• Recent mergers, acquisitions, product launches, recent investments, and joint ventures
• Regional analysis to provide insight into recent trends and opportunities.
To know more about the report, visit @ https://www.reportsanddata.com/report-detail/organic-feed-market
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Source: EIN Presswire