Market Overview
Starter feed is a specially formulated feed that is meant for newly born offspring of livestock. A new report on the global starter feed market, published by Market Research Future (MRFR), explores that this market could anticipate advancement at 7.22% CAGR between 2022 and 2030. In terms of money value, the market can be worth USD 46.10 billion by the end of the forecast period.
The most important market driving factor for the global starter feed market research growth is rich protein content that newborn of livestock essentially requires. Starter feed contains all the necessary nutrition for them that includes 20–25% protein, that is essential for the growth of all livestock animals. Starter feed also improves the immune system of animals and helps the owners of animals to save the cost associated with treatment and medicines in case animals fall sick. Hence, the demand for starter feed is increasing. The demand for meat and meat products is also fueling the demand for starter feed. Commercialization of poultry farming can foster the market. However, high cost of starter feed can obstruct the market growth.
Market Segmentation
The global starter feed market segmentation encompasses form, livestock, and type. MRFR’s take on the market surveys various facets of the market in-depth.
The form-based segmentation of this market covers crumbles, mash, and pellets. The pellets segment holds the largest market share due to ease of storage, handling, and feeding.
Regarding livestock, the market has been segmented into aquaculture, poultry, ruminant, swine, and others. Among these segments, the poultry segment holds the largest market share.
By type, the market has been segmented into medicated, and non-medicated. The medicated type holds a larger market share.
Regional Segmentation
A geographical outlining of the global starter feed market report covers North America, Asia Pacific, Europe, and Rest of the World (RoW).
North America holds the largest market share in the global market, followed by the Asia Pacific region. Both of these regions are strong markets due to rising population and increasing consumption of poultry meat products. North America is a bigger regional market due to the presence of many key market players. The USA is the most important country-specific market in this region due to increasing awareness regarding livestock health. After USA, Canada and Mexico contribute maximum revenue to the North American market.
As mentioned earlier, the Asia Pacific region is the second-largest regional market due to rising population, expansion as well as commercialization of livestock raising activities, increasing purchasing power, increasing consumption of poultry meat products, increasing consumption of animal-sourced food, and stable economic growth in countries like China and India. Few major market players are based in the Asia Pacific region too. Japan is another major country-specific market in this region. In this report, Australia and New Zealand have been clubbed into one segment. An assay of the remaining countries in the Asia Pacific region featured in this report calculates huge doles of market revenue from some other countries.
In Europe, the market is strong due to the presence of some major market players, the high purchasing power of consumers, and increasing focus on the health of livestock and their newborns. The most powerful country-specific markets in Europe are France, Germany, Italy, Spain, and the UK.
The RoW segment covers South America, Africa, and the Middle East. South America is a decent market due to stable economies, but the purchasing power of people is lower than those in North America. In the Middle East, the market is small due to less awareness about the means to take care of livestock. Africa has poor economies, and consumers have low purchasing power. Hence, the market is low in this region
Key Players
Big players in the global key starter feed market players include ACI Godrej Agrovet Private Ltd. (India), Alltecht (USA), Archer Daniels Midland Company (USA), Associated British Foods PLC (UK), Cargill Inc. (USA), CCPA GROUP (France), C-Feed AS (Norway), Charoen Pokphand Foods PCL (Thailand), Evonik Industries AG (Germany), Land O'Lakes Inc. (USA), Nutreco N.V. (Netherlands), Purina Mills LLC (USA), Roquette Freres S.A. (France), Tyson Foods Inc. (USA), and Vimala Feeds Private Limited (India).
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