Track topics on Twitter Track topics that are important to you
The market a USD 119 Billion market in 2017, is estimated to grow at a CAGR of 2.9% to reach USD 138.5 Billion by 2023. AsiaPacific and South America are set to contribute the most towards the global market growth.
Pork is mainly consumed in Europe, AsiaPacific, and North America as a popular meat choice in these regions. Pork production is estimated to grow at a CAGR of 1.7% from 2017 to 2013. Compound feed consumption for swine is mainly concentrated in China, U.S., Europe, Brazil, and Canada as these countries are among the top pork meat producers.
According to FAO Food and Agricultural Organization, 50% of the global pig population is concentrated in China followed by EU and U.S. Such trends show that these regions will remain the highest compound feed consumers for pork production. Pacific countries like Japan, Australia, Mexico, New Zealand, and North Korea are the major pork importers, whereas China, U.S., Canada, EU, and Brazil are the major pork exporters. With rising pork trade and concerns over food safety, demand for compound feed is expected to increase to ensure meat quality and safety. The global livestock sector is highly dynamic. The demand for processed livestock products is on the rise in the developed countries and many production facilities are increasing their efficiency and environmental sustainability.
The market is growing at a steady rate in developing nations due to the rapid increase in demand for livestock products. The change in demand for livestock products has been largely driven by growth in human population, income and urbanization. The demand is estimated to be affected by socioeconomic factors such as human health concerns and changing sociocultural values. The impact of these factors will vary from region to region.
Innovation in production technologies has led to mass breeding of livestock, thereby increasing the supply of meat and milk products. However, in the future, it is estimated that the supply will be affected by competition for raw materials between the food, biofuel and feed industry. Production is also likely to be increasingly affected by environmental and animal welfare legislations. Developments in breeding, nutrition and animal health will continue to contribute to increasing production potential, efficiency and genetic gains.
Major Key Player : CARGILL INC., ALLTECH INC., NUTRECO NV, DEKALB FEEDS, WEN'S GROUP amongst others.
Reasons to Purchase this Report
Analyzing various perspectives of the market with the help of Porter's five forces analysis.
Study on the regions that are expected to witness fastest growth during the forecast period.
Identify the latest developments, market shares and strategies employed by the major market players.
3 months analyst support along with the Market Estimate sheet in excel.
Customization of the Report
This report can be customized to meet your requirements. Please connect with our analyst, who will ensure you get a report that suits your needsNEXT ARTICLE
Food is any substance consumed to provide nutritional support for the body. It is usually of plant or animal origin, and contains essential nutrients, such as carbohydrates, fats, proteins, vitamins, or minerals. The substance is ingested by an organism ...
Food safety is a scientific discipline describing handling, preparation, and storage of food in ways that prevent foodborne illness. This includes a number of routines that should be followed to avoid potentially severe health hazards. The five key pri...