Global Swine Feed Market to Reach US$ 155.4 Billion by 2032, Stimulated by Increasing Consumption of Pork

August 18, 2023 | Food & Beverages

According to the latest report by IMARC Group, titled “Swine Feed Market Report by Product Type (Grower, Starter, Sow, and Others), Feed Essence (Vitamins, Antioxidants, Feed Acidifiers, Feed enzymes, Amino acids, and Others), Feed Additive Type (Zootechnical Feed Additives, Sensory Feed Additives, Nutritional Feed Additives), and Region 2024-2032,” the global swine feed market size reached US$ 120.6 Billion in 2023. Swine feed is a meticulously balanced diet designed to satisfy pigs' nutritional requirements. It consists of a variety of feedstuffs, including cereals, soybean meal, oilseed meals, and other micronutrients that provide the essential vitamins, minerals, and dietary fiber for the growth and productivity of pigs. This nutritionally balanced food is crucial in enhancing the swine population's overall growth, health, and productivity, influencing factors such as weight gain, fertility, and the quality of meat. Additionally, it can be formulated in different forms, such as pellets, crumbles, or mash, based on the age and growth stage of the pigs. It is widely utilized in swine production farms, contributing substantially to the global agricultural sector. The swine feed market caters to both the commercial farming sector and small-scale pig raisers, thereby spanning a diverse range of consumers across the globe.

Global Swine Feed Market Trends:

The global swine feed market is experiencing significant expansion due to the escalating demand for high-quality pork and pork products in both developed and emerging economies. Along with this, the increasing consumption of pork can be attributed to changing dietary preferences, the growing population, and improving economic conditions in many parts of the world. There is an increase in demand for premium-quality swine feed as consumers become more aware of the safety and quality of their food. This is done to guarantee the health and productivity of pigs, which in turn affects the quality of the pork. Therefore, it is significantly contributing to the market. Apart from this, technological advancements in feed formulation and production techniques, coupled with increasing investment in research and development activities, are further propelling the market. In confluence with this, the rise of sustainable and organic farming practices is another market trend, with a growing demand for organic and non-GMO swine feed aligning with the global sustainability shift. Furthermore, government policies and initiatives promoting efficient livestock management and swine health also play a crucial role in shaping the global swine feed market dynamics. Looking forward, the market value is projected to reach US$ 155.4 Billion by 2032, expanding at a CAGR of 2.8% during 2024-2032.

Market Summary:

  • Based on the product type, the market has been segmented into grower, starter, sow, and others. Currently, grower dominates the market, holding the largest share.
  • On the basis of the feed essence, the market is segregated into vitamins, antioxidants, feed acidifiers, feed enzymes, amino acids, and others.
  • Based on the feed additive type, the market has been segmented into zootechnical feed additives, sensory feed additives, and nutritional feed additives.
  • Region-wise, the market has been segmented into Asia Pacific, Europe, North America, Middle East and Africa, and Latin America. Amongst these, Asia Pacific accounts for the largest market share.
  • The competitive landscape of the market has also been examined, with some of the key players being Chr Hansen, Royal DSM Holdings Limited, Lallemand Inc., BASF Limited, Novus International Inc., Kent foods, Archer Daniels Midland Company, Cargill Inc., ABF Plc. and Alltech Inc.

Report Coverage:

Report Features Details
Base Year of the Analysis 2023
Historical Period 2018-2023
Forecast Period 2024-2032
Units US$ Billion
Segment Coverage Product Type, Feed Essence, Feed Additive Type, Region
Region Covered  Asia Pacific, Europe, North America, Latin America, Middle East and Africa
Companies Covered Chr Hansen, Royal DSM Holdings Limited, Lallemand Inc., BASF Limited, Novus International Inc., Kent foods, Archer Daniels Midland Company, Cargill Inc., ABF Plc. and Alltech Inc.
Customization Scope 10% Free Customization
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Global Swine Feed Market to Reach US$ 155.4 Billion by 2032, Stimulated by Increasing Consumption of Pork
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