Meticulous Research®, a leading global market intelligence provider, has released a comprehensive report titled “Animal Feed Market Size, Share, Forecast, & Trends Analysis by Type (Compound Feed, Roughages), Source (Plant, Animal, Novel), Form (Dry (Pellets), Wet), Animal Type (Poultry, Ruminants (Beef, Dairy Cattle), Swine, Aquaculture) - Global Forecast to 2031”. The report highlights substantial growth in the global animal feed market, expected to reach $1,008.8 billion by 2031, growing at a CAGR of 4.7% from 2024 to 2031. In volume, the market is anticipated to reach 2,965 million tons by 2031, at a CAGR of 3.1% during the same period.

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This growth is driven by factors including the increasing commercialization of livestock farming, heightened consumer demand for animal-derived products, and advancements in research & development aimed at improving feed quality and animal health. However, fluctuating raw material prices pose challenges to market expansion, while rising awareness about animal health presents growth opportunities for market participants.

Market Breakdown and Key Insights

By Type:
The animal feed market is divided into compound feed, feed concentrates, and roughages. The compound feed segment is projected to hold the largest share at 71.8% in 2024, fueled by rising demand from commercial livestock farmers and pet owners. Increasing concerns about animal diseases and a shift toward high-quality meat and dairy production have elevated the need for formulated feeds that promote healthy animal growth. The feed concentrates segment, however, is poised for the fastest growth, with a CAGR of 5.4% during the forecast period.

By Source:
Segmentation by source includes plant-based, animal-based, fodder & DDGS, and novel sources. In 2024, the plant-based segment is expected to dominate, accounting for 69.9% of the global animal feed market due to the availability of raw materials, cost-effectiveness, and broad market acceptance of plant-based feed. Meanwhile, novel sources, which boast high nutritional profiles and are increasingly integrated into feed products, are projected to grow at a CAGR of 6.0% from 2024 to 2031.

By Form:
The report categorizes feed into dry and wet forms. The dry feed segment is forecasted to represent 92.7% of the market in 2024, attributed to its ease of handling, storage, and transportation, along with its longer shelf life, nutrient stability, and cost efficiency. Demand for dry feed is set to surge, particularly in the poultry sector, with the segment expected to grow at a CAGR of 4.8% through 2031.

By Animal Type:
In terms of animal type, the market includes poultry, ruminants, swine, aquaculture, and others. Poultry is expected to hold the largest share at 32.9% in 2024. This segment’s growth is primarily driven by increased demand for poultry meat products, consumer preference for white meat over red, and a rise in poultry expansion initiatives.

By Region:
Regionally, Asia-Pacific is set to lead, holding 39.2% of the global market share in 2024, estimated at USD 286.2 billion. Factors contributing to Asia-Pacific’s dominance include increasing meat consumption, expanding livestock farming, robust milk production, and the presence of key market players. The market’s growth aligns with the region’s growing population and changing dietary preferences.

Leading Companies in the Animal Feed Market

Key players in the animal feed market include:

Charoen Pokphand Foods PCL (Thailand)
New Hope Liuhe Co., Ltd. (China)
Cargill, Incorporated (U.S.)
Brf S.A. (Brazil)
Tyson Foods, Inc. (U.S.)
Nutreco N.V. (Netherlands)
Archer-Daniels-Midland Company (U.S.)
Alltech Inc. (U.S.)
ForFarmers N.V. (Netherlands)
De Heus Animal Nutrition (Netherlands)
Royal Agrifirm Group (Netherlands)
Guangdong HAID Group Co., Ltd. (China)
These industry leaders are investing in innovative feed products and exploring sustainable, high-nutrient options to meet growing demand in a dynamic global landscape.

Market Outlook and Opportunities

The global animal feed market is poised for sustained growth, driven by robust demand and the need for high-quality feed formulations that support animal health and productivity. Companies are focusing on creating novel and sustainable feed sources, enhancing R&D efforts to ensure nutrient-rich options that contribute to improved animal welfare and productivity across poultry, ruminant, swine, and aquaculture sectors.

However, the market remains challenged by volatility in raw material prices. Addressing these challenges, key players are expected to pursue strategic partnerships, technology advancements, and alternative raw materials to balance cost efficiencies and growth.

For further insights, please refer to Meticulous Research®'s full report on the animal feed market, which provides an in-depth analysis of current trends, key market drivers, and strategic opportunities shaping the industry.

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