Global Cattle Feed Market

Animal Medicine Market Definition

The animal medicine market consists of sales of veterinary medicines and related services by entities (organizations, sole traders and partnerships) that manufacture veterinary medicines used to treat animal diseases and/or to improve animals’ performance and health. The animal medicine industry includes establishments that manufacture veterinary pharmaceuticals such as veterinary vaccines, veterinary antibiotics, and other veterinary pharmaceuticals, and establishments that manufacture medical feed additives and nutritional feed additives.

The veterinary diagnostic equipment market consists of sales of veterinary diagnostic equipment and related services. Veterinary diagnostic equipment assists veterinary practitioners in determining and identifying various disorders in animals. The veterinary diagnostic equipment industry includes companies that manufacture diagnostic equipment such as clinical thermometers, diagnostic lights, X-ray equipment, and certain diagnostic test kits. The main types of veterinary diagnostic equipment are hematology, immunodiagnostics, clinical chemistry, molecular testing. Hematology refers to the study of the prognosis, cause, and treatment of diseases related to blood. These are used for livestock cattle, domestic pets. The veterinary diagnostic equipment is used in hospitals and clinics, reference laboratories, universities/research centers, point-of-care/in-house testing. The global veterinary diagnostic equipment market size is expected to grow from $0.85 billion in 2021 to $0.94 billion in 2022 at a compound annual growth rate (CAGR) of 10.6%. The global veterinary diagnostics market size is expected to grow to $1.33 billion in 2026 at a CAGR of 9.1%. An increase in the prevalence rate of diseases among animals serves as one of the major drivers of the veterinary diagnostic equipment market. Due to the increase in the incidence of diseases in livestock and pets, the demand for enhanced diagnostic equipment increases. For instance, according to the Banfield Pet Hospital's 2020 Veterinary Emerging Topics (VET) Report, more than 50% of the dogs at 1,000 hospitals in 2019 were overweight or obese. Overweight pets are more likely to suffer from joint disease, respiratory disease, and other preventable conditions. The increase in the prevalence rate of diseases in animals, increases demand for diagnostic equipment, driving the veterinary diagnostic equipment market. The veterinary diagnostic equipment is highly expensive. The price of equipment will be a significant expense for a veterinary clinic or hospital. To run a test center with blood testing machines, physiological monitors such as ECGs, anesthetic monitors, etc, diagnostic imaging techniques such as x-rays, ultrasound, and MRI scanners, is highly capital intensive. Some kind of veterinary diagnostic equipment may be available on a budget, but with less precise diagnoses and thus less efficient treatments with less beneficial results. The high price of equipment hinders the growth of the veterinary diagnostic equipment market. Veterinary diagnostic equipment manufacturers are introducing advanced technologies such as advanced blood microsampling techniques to enable enhanced precision, patient-centered specimen collection, and diagnosis of diseases in animals. Blood microsampling is a technique that allows the participants to draw blood samples from their livestock and companion animals with ease. The samples are then forwarded to labs for further diagnosis. This technique is an extension to dry blood sampling, which is a method of collecting blood. For instance, Neoteryx launched the '3Rs-compliant Mitra' microsampling device that works on the principle of Micro sampling. The device uses Neoteryx's trademark Volumetric Absorptive Micro Sampling (VAMS) technology to facilitate more convenient and accurate remote sampling. Other companies investing in the trend of microsampling include Diatron with its Diatron Aquila hematology analyzer. The US Food and Drug Administration (FDA) defines regulations for veterinary diagnosis equipment and can take appropriate action if veterinary equipment is found misbranded or adulterated. The conditions for misbranding diagnostic equipment are listed under title 21 and set by the Food and Drugs Administration. For instance, as per the regulations under title 21, U.S code 352(f)(1), any veterinary medical equipment is considered misbranded if the labeling on the equipment is indefinite or unclear. Whereas, 21 U.S.C. 352(j) states that veterinary medical equipment is considered misbranded if it is dangerous to the animal even when it is used in the manner recommended, or suggested as per the label. In September 2021, Mindray, a company operating in veterinary imaging equipment based in China acquired HyTest Invest Oy and its subsidiaries for an undisclosed amount. With this acquisition, HyTest company enables Mindray to have top-notch raw material R&D and innovation capabilities and also help in investing in R&D as well as strengthen and improve its competitive edge. Hytest is a company operating in veterinary diagnostic equipment based in Finland. Major players in the veterinary diagnostic equipment market are IDEXX Laboratories, ABAXIS, HESKA Corporation, Zoetis, Virbac, Mindray Medical International Ltd., Neogen Corporation, QIAGEN N.V., Agfa Healthcare, and Toshiba. North America was the largest region in the veterinary diagnostic equipment market in 2021. Asia Pacific was the second-largest region in the global veterinary diagnostic equipment market. The regions covered in the global veterinary diagnostic equipment market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa. The countries covered in the veterinary diagnostic equipment market are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, South Korea, Russia, UK, and USA. The global veterinary diagnostic equipment market is segmented - 1) By Product: Hematology, Immunodiagnostics, Clinical Chemistry, Molecular Testing 2) By End-User: Hospitals and Clinics, Reference Laboratories, Universities/Research Centers, Point-Of-Care/In-House Testing 3) By Animal: Livestock Cattle, Domestic Pets

The medical feed additives market consists of sales of medical feed additives and related services to prepare complete food for animals. Medical feed additives help improve the nutritional content and quality of feed, results in better productivity, and prevent animals from diseases. The medical feed additives industry includes companies that produce animal feed additives such as vitamins and probiotics, preservatives, antioxidants, digestibility enhancers, gut flora stabilizers, and others. The main types of medical feed additives are antioxidants, antibiotics, probiotics and prebiotics, enzymes, amino acids. The antioxidants refer to the feed additives that are fed to the animals for nutrition. The different mixtures include supplements, concentrates, premix feeds, base mixes. The various classes include typing a type b, type c. These are used by the different livestock such as ruminants, poultry, swine, aquaculture. The global medical feed additives market size is expected to grow from $13 billion in 2021 to $14.48 billion in 2022 at a compound annual growth rate (CAGR) of 11.4%. The global medical feed additive market size is expected to grow to $20.86 billion in 2026 at a CAGR of 9.6%. An increase in the prevalence of diseases among animals is driving the growth of the medicated feed additives market According to the estimates from a report by the Animal and Plant Health Agency, a total of 3289 new TB herd incidents were detected in England. A new herd incident is a case of bovine TB that occurs as a result of a herd or individual animal test performed in an officially TB-free (OTF) herd during the study period. Bovine tuberculosis is a chronic disease that usually affects animals such as cattle, but it can affect all mammals causing illness, coughing, and eventual death. Moreover, according to the reports, the herd incidence rate in England for the 12 months to end September 2020 was 9.4. The additives help prevent animals from diseases alongside increasing the nutrition level of the feed thereby increasing demand for feed additives. The overuse and inappropriate use of antibiotics in medical feed additives impact the health of individuals consuming animal meat or other related products. Moreover, the health of the animal consuming the feed may also be adversely affected by the antibiotics added to the feed as the excess additive reduces the natural immunity of the animal and increases the susceptibility of the livestock to infections. For instance, in July 2020, the Ministry of Agriculture and Rural Affairs in China, under Announcement No. 194 banned the production of commercial feed with medicated feed additives (excluding traditional Chinese medicine) for growth-promoting purposes The negative effects of additives on human health caused due to overuse of feed additives in animals will restrain the growth of the market. Companies in the medical feed additives market are introducing new feed medicated additives formed as a result of a combination of two or more medicated feed additives. More than 70% of manufacturers are now using more than one feed additive in animal feed to increase the efficiency of the product. For instance, Zoetis, a global health company got the approval for its Cyden and Lincomix combination feed additive from the FDA (Food and Drug Administration) and is proposed to be used as a medicated feed additive for poultry. Also, the FDA-approved combination of Zoetis’ feed additives ACTOGAIN 45 (ractopamine hydrochloride) and ENGINE (ractopamine hydrochloride) makes more lean muscle and less fat while optimizing feed efficiency. The medical feed additives market is regulated by government agencies that lay down regulations to be followed by all the manufacturers of veterinary medicines. For instance, the Veterinary Medicines Regulations (VMR) 2013 makes provision for the authorization, manufacturing, and classification of veterinary products including medicated feed additives. The Schedule 5 under EU guidelines covers medicated feeding stuff and specified feed additives which specify guidance to both manufacturers and suppliers of veterinary medicines for incorporating it into animal feed as well as to veterinary surgeons, animal keepers, and other members involved in the use of veterinary medicines and SFAs(Specified Feed Additives)in animal feeding stuff. In February 2019, Archer Daniels Midland Company (ADM), an American global food processing and commodities trading company acquired Neovia for $1.74 billion (€1.544 billion). This acquisition helps ADM to become a global leader in animal nutrition products and services with Neovia adding a wide range of products to the former company’s portfolio including pet care, additives, aquaculture, and livestock feed which would, in turn, boost the growth of the company. Neovia is headquartered in France was established in 1954 and manufactures and distributes various biologically degradable disinfectants along with feed additives for plants and animals. Major players in the medical feed additives market are Zoetis Inc., Cargill, Incorporated, CHS Inc., Purina Animal Nutrition, Archer Daniels Midland Company, Adisseo France Sas, Alltech Inc., Hipro Animal Nutrition, BASF SE, Biostadt India Limited. North America was the largest region in the medical feed additives market in 2021. Asia-Pacific was the second-largest region in the global medical feed market. The regions covered in the global medical feed additives market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa. The countries covered in the medical feed additives market are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, South Korea, Russia, UK, and USA. The global medical feed additives market is segmented - 1) By Type: Antioxidants, Antibiotics, Probiotics and Prebiotics, Enzymes, Amino Acids 2) By Livestock: Ruminants, Poultry, Swine, Aquaculture 3) By Mixture Type: Supplements, Concentrates, Premix Feeds, Base Mixes 4) By Class Type: Type A, Type B, Type C

The equine healthcare market consists of sales of equine healthcare products and related services by entities (organizations, sole traders, or partnerships) that are engaged in offering services and products intended for treating horses to enhance their quality of life, to develop the quality of animal food and to increase their lifespan. Equine healthcare includes veterinary services provided to horses used for racing and betting, competitive riding, and leisure. Routine veterinary care for vaccinations, parasite control, dental care, grooming, hoof care, and protection from natural elements such as rain, wind, and snow are all part of equine healthcare. The main product types of equine healthcare are drugs, vaccines, and medical feed additives. Drugs are pharmacologically active substances administered to horses in the incident of any disease. The different diseases include equine influenza, equine herpes virus, equine encephalomyelitis, West Nile virus, equine rabies, Potomac horse fever, tetanus and are distributed through veterinary hospitals and clinics, retail pharmacy, online pharmacies. The global equine healthcare market is expected to grow from $1.17 billion in 2021 to $1.26 billion in 2022 at a compound annual growth rate (CAGR) of 8.3%. The growth in the equine healthcare market is mainly due to the companies resuming their operations and adapting to the new normal while recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges. The equine healthcare market is expected to reach $1.57 billion in 2026 at a CAGR of 5.6%. The growing awareness of animal healthcare will support the growth of the equine healthcare market during the forecast period. People are becoming more aware of the importance of animals in the ecosystem, and animal health is critical not just for their safety and well-being, but also for the safety and well-being of humans. The diseases in animals can easily be transferred to humans hence, governments and private institutions are investing to develop the animal healthcare infrastructure in various countries. For instance, in September 2021, the US department of agriculture announced an investment of $3 billion in animal health and nutrition. Thus, the rising awareness among the human population about the importance of animal healthcare and increasing investment in animal healthcare will support the growth of the market, during the forecast period. The introduction of new and effective products by key manufacturers in equine healthcare for rapid detection of disease in the equine population and to ensure better therapeutic outcomes is a key trend in the market. For instance, in June 2021, Epona Biotec, a veterinary startup dedicated to advancing equine health care, has launched the VetTrue System, a remote temperature-monitoring system for horses. A team of veterinary, equestrian, and technology professionals developed the VetTrue System to provide a more accurate, less invasive health-monitoring solution for veterinarians, horse owners, and professionals in the equestrian industries. The VetTrue System makes use of a single-use TailTab temperature sensor that is securely attached beneath the tail. Once implanted, the horse's temperature is continuously monitored and transferred to the VetTrue App through Bluetooth. In October 2021, IVC Evidensia, a UK-based veterinary care provider acquired VetOne Group for an undisclosed amount. With this acquisition, IVC Evidensia expanded its veterinary care services across France to 155 veterinary clinics and hospitals. VetOne Group is a France-based provider of quality veterinary resources to the animal health industry. Major players in the equine healthcare market are Ethos Veterinary Health LLC, Greencross Limited, Idexx Laboratories, National Veterinary Care Ltd, Patterson Companies Inc., Addison Biological Laboratory Inc., Animart LLC, CVS Group PLC, Merck & Co. Inc, Zoetis, Boehringer Ingelheim, Covetrus, Elanco, Bayer AG, Ceva Sante Animale, Virbac, and Vetoquinol. North America was the largest region in the equine healthcare market in 2021. The regions covered in the equine healthcare market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa. The countries covered in the equine healthcare market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA. The global equine healthcare market is segmented - 1) By Product Type: Drugs, Vaccines, Medical Feed Additives 2) By Disease: Equine Influenza, Equine Herpes virus, Equine Encephalomyelitis, West Nile Virus, Equine Rabies, Potomac Horse Fever, Tetanus 3) By Distribution: Veterinary Hospitals and Clinics, Retail Pharmacy, Online Pharmacies

The feed processing equipment market consists of sales of feed processing equipment by entities (organizations, sole traders, or partnerships) that are engaged in manufacturing feed processing equipment such as feed expanders, feed conditioners, pellet feed coolers, etc. Only goods and services traded between entities or sold to end consumers are included. The main functions of feed processing equipment are pelleting, mixing, grinding, and extrusion. Extrusion refers to the process of forming something by forcing or pushing it out, mainly through a small opening. The feed types are ruminant feed, poultry feed, swine feed, aquaculture feed, and other feed types. The various applications involved are poultry, pig, ruminant, aqua, and other applications. The global feed processing equipment market size is expected to grow from $49.08 billion in 2021 to $54.49 billion in 2022 at a compound annual growth rate (CAGR) of 11.0%. The global feed processing market size is expected to grow to $71.68 billion in 2026 at a CAGR of 7.1%. The growing demand for feed across the globe to meet the needs of the rising livestock population is expected to drive the feed processing equipment market. The rise in livestock population led to an increase in the requirement for feed which in turn is likely to fuel the demand for feed processing equipment. According to the 20th Livestock Census report by the Department of Animal Husbandry and Dairying, Ministry of Fisheries, published in October 2019, the total livestock population in India is 535.78 million in 2019. As per the report by the National Agricultural Statistics Service (NASS), Agricultural Statistics Board, United States Department of Agriculture (USDA) released in February 2019, the total cattle and calves population in the USA is 94.8 million as of January 1, 2019. The feed is utilized for rearing livestock as it provides a high nutritional diet which in turn increases productivity. Hence, the growing demand for feed across the globe aids in the growth of the market. The high operational and maintenance cost of the feed mill is expected to hinder the feed processing equipment market. The cost of establishing a feed mill includes design and development, equipment, installation, operational, and maintenance costs. According to the American Feed Industry Association, engineering and design, equipment and installation, and operation and maintenance cost contribute to about 1%, 15%, and 50% respectively of the total investment over a feed mill’s lifetime. Moreover, electricity and labor require high capital investment making it unaffordable for middle, low-income producers, thereby acting as a major restraint for the market growth. Plant manufacturers are launching revolutionary technology intending to improve the operation, increase efficiency, and set up other equipment to offer an advantage over other machines. In June 2020, Imas, a supplier of milling technology, has developed a new type of feed mill with a compact design for the feed industry with a capacity of 2 to 3 tons per hour. In December 2019, Vermeer Corporation, a USA-based manufacturer of industrial and agricultural machines acquired Schuler Manufacturing Co for an undisclosed amount. The acquisition aims to use Schuler Manufacturing Co.'s feed equipment to reinforce Vermeer Corporation’s long-term vision of developing new product technologies for cattle producers through the entire chain of hay and feed value. Schuler Manufacturing Co is a USA-based family-owned company that manufactures cattle feed mixers, feed wagons, and other feed mixer equipment concerning the beef cattle feedlot and dairy industries. Major players in the feed processing equipment market are Buhler AG, Clextral, Dinnissen BV, andritz AG, Bratney Companies, Longchang Machinery, HET Feed Machinery, B.K. Allied Industries, SKIOLD, and ZhengChang. Asia Pacific was the largest region in the global feed processing equipment market in 2021. North America was the second largest region of the global feed processing market. The regions covered in the global feed processing equipment market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa. The countries covered in the feed processing equipment market are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, and USA. The global feed processing equipment market is segmented - 1) By Function: Pelleting, Mixing, Grinding, Extrusion 2) By Feed Type: Ruminant Feed, Poultry Feed, Swine Feed, Aquaculture Feed, Others 3) By Application: Poultry, Pig, Ruminant, Aqua, Others

The dried peas market consists of sales of dried peas by entities (organizations, sole traders, and partnerships) that are engaged in the production of dried peas. Dried peas, also known as field peas, when dried are used in food preparation such as pasta, cereals, and soups. Dried peas are considered a very good source of potassium, cholesterol-lowering fiber, and two B–Vitamins, protein, and contain almost no fat. They help lower cholesterol, maintain blood sugar levels, and lower high blood pressure. The main product types of dried peas are yellow peas and green peas. Yellow peas are small peas with a round shape and a mild flavor and is a good source of cholesterol-lowering fiber. Green peas are small peas with round shape and a nuttier flavor. Before being sold, they are normally dried and then cut in half. It has both conventional and organic nature and is used in household and retail, foodservice or HoReCa, animal feed, pharmaceuticals and supplements, cosmetics and personal care, food and beverage processing. The global dried peas market size is expected to grow from $4.37 billion in 2021 to $4.75 billion in 2022 at a compound annual growth rate (CAGR) of 8.7%. The global dried pea market size is expected to grow to $5.86 billion in 2026 at a CAGR of 5.4%. The increasing number of individuals preferring a healthy lifestyle is expected to propel the growth of the dried peas market in the coming years. A healthy lifestyle in people nowadays helps fight illness, focuses on a strong immune system to prevent fight infections, and more energy. In recent years, people have been taking care of their health and hence lot of them are shifting towards a vegetarian diet as it would lead to lower blood pressure, improved cholesterol levels, which reduces the chance of a heart attack and stroke. For instance, according to FMCG Gurus 2020 survey report, 59% of consumers around the world have become more conscious about their health. This has increased the market for plant-based proteins as well which include, peas, lentils, beans, and soy products. Dried peas companies are increasingly offering pea protein based powder which can be incorporated in ready-to-drink beverages, baked goods, and dairy foods. Pea protein has a higher concentration of protein and well-balanced profile of amino acids and can be used as a substitute for egg protein in products such as mayonnaise and as an alternative to soy and wheat gluten. For instance, in 2019, US based food company, Cargill launched a new versatile pea protein powder Radipure, which is made from non-GMO (Genetically Modified Organisms) dried peas. In November 2020, Ingredion Inc., a US-based ingredient solutions company acquired Verdient Foods for an undisclosed amount. The acquisition will enable Ingredion Inc. to accelerate net sales growth, expand manufacturing capabilities, and collaborate with customers to meet the rising demand for plant-based foods. Verdient Foods is a Canada-based company that produces plant-based proteins derived by producing peas, lentils, faba beans, and other sources. Major players in the dried peas market are Vestkorn Milling AS, AGT Food and Ingredients, Cosucra Groupe Warcoing S.A., Dakota Ingredients, Goya Foods Inc., Ingredion Inc., Roquette Frères, and The Scoular Company. Asia Pacific was the largest region in the dried peas market in 2021. The regions covered in the global dried peas market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa. The countries covered in the dried peas market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, and USA. The global dried peas market is segmented - 1) By Product Type: Yellow Peas, Green Peas 2) By Nature: Conventional, Organic 3) By Application: Household or Retail, Foodservice or HoReCa, Animal Feed, Pharmaceuticals and Supplements, Cosmetics and Personal Care, Food and Beverage Processing

The faba beans market consists of sales of faba beans. The market consists of revenue generated by establishments that are engaged in the production of faba beans. The faba bean is a common legume cultivated for its edible seeds or beans. Some varieties of faba beans are used as a source of protein for livestock. Faba beans are also widely used in the production of products such as protein powders and custom blends. The companies in the faba beans production distribute their products through various distribution channels to both individual customers and commercial establishments. The main types of faba beans are organic and conventional faba beans. Organic faba beans are produced using natural principles such as biodiversity and composting. Conventional faba beans are produced using high-input modern agriculture with synthetic chemical fertilizers, fungicides, insecticides and others. Faba beans are used in food processing, animal feed, nutraceuticals, sports nutrition, and infant nutrition. These are made available to the end-users through supermarkets/hypermarkets, convenience stores, specialty stores, online retailers and other channels. The global faba beans market size is expected to grow from $3.18 billion in 2021 to $3.29 billion in 2022 at a compound annual growth rate (CAGR) of 3.5%. The global fava beans market size is expected to grow to $3.58 billion in 2026 at a CAGR of 2.1%. The increasing shift towards veganism boosted the growth of the faba beans market during the historic period. Veganism involves abstaining of animal products, particularly in the diet of an individual. As per the Vegan Society, 14,262 brands with the vegan trademark were registered in 2019 globally, which represented an improvement of 49% on last year registrations. Moreover, plant-based goods are driving revenues at grocery stores worldwide, expanding at nearly double the rate of total food sales. According to data compiled by SPINS on behalf of advocacy nonprofit The Good Food Institute (GFI) and trade group Plant Based Foods Association (PBFA) released in April 2021, supermarket sales of plant-based foods that directly replace animal products increased by 27% to $7 billion in 2020. Consumers are rapidly moving toward veganism in many parts of the world, resulting in a significant increase in demand for plant-based proteins, which drove the demand for faba beans over the historic period. The yield loss due to various diseases in faba beans could restrict the market in the forecast period. Faba beans are subject to number of diseases which reduces their yield and quality. Some of main diseases impacting the productivity of faba beans are botrytis chocolate spot, stemphylium blight, alternaria leaf spot and sclerotinia stem rot. This is expected to negatively impact the growth of the market in the forecast period. Major companies in the market are focusing on technical advancements of their products in order to cater to the growing need for plant-based proteins. For instance, in 2020, Belgium based Verso Food using wet extrusion, developed a method to manufacture a faba-based food product with a fibrous structure close to cooked meat and chicken. In another instance, in 2019, Netherlands based Multiflour and MPF Germany collaborated to develop a textured fababean protein with a content of 60% protein which can be alternated as a protein source for meat substitutes and as an adequate alternative for soy. In 2019, the companies Fava Trading and Roland Mills United formed Roland Beans GmbH as a joint venture. This allows the businesses to combine their complementary competencies in faba bean production, raw material supply, manufacturing, and utilization technologies in the supply chain. Roland Mills United GmbH & Co. KG is a conventional milling company with several years of experience in the manufacturing of customer-specific grain milling products in Northern Germany. Fava Trading GmbH & Co. KG is a trading company based in Germany, by visionary farmers from the Weser-Elbe region, is capitalizing on the field bean new opportunities in this conventional cultivation sector. Major players in the faba beans market are Prairie Fava, Unigrain, Roland Beans, Aviip Group, Alberta Pulse Growers, Stamp Seeds, Riddell Seed Co., and Pawnee Buttes Seed Inc. Asia Pacific was the largest region in the faba beans market in 2021. The regions covered in the global faba beans market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa. The countries covered in the faba beans market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, and USA. The global faba beans market is segmented - 1) By Nature: Organic, Conventional 2) By End-Use: Food Processing, Animal Feed, Nutraceuticals, Sports Nutrition, Infant Nutrition 3) By Distribution Channel: Supermarkets/Hypermarkets, Convenience Stores, Specialty Stores, Online Retailers, Others

The animal food market consists of sales of animal foods by entities (organizations, sole traders, and partnerships) that produce animal food (except dog and cat food and cattle feed), such as fish food, livestock feeds, poultry feeds, bird feeds, earthworm food, rabbit food, and Other Distribution Channels. The main type of animal food is poultry feed, cattle feed, aquaculture feed, and other animal food. Poultry feed is food used to feed chickens, ducks, geese, and other domestic birds or farm poultry. The various ingredients used in animal food are cereal, oilseed meal, supplements, and other ingredients. These products are made available through supermarkets/hypermarkets, convenience stores, e-commerce, and others. The global animal food market size is expected to grow from $272.02 billion in 2021 to $301.96 billion in 2022 at a compound annual growth rate (CAGR) of 11%. The animal foods market is expected to grow to $442.34 billion in 2026 at a CAGR of 10%. The animal and pet food market growth is aided by stable economic growth forecasted in many developed and developing countries. According to the International Monetary Fund (IMF), the global GDP reached 3.3% in 2020 and 3.4% in 2021. Recovering commodity prices, after a significant decline in the historic period is further expected to aid the market growth. Developed economies are also expected to register stable growth during the forecast period. Additionally, emerging markets are expected to continue to grow slightly faster than the developed markets in the forecast period. Stable economic growth is expected to increase investments at the end-user markets, thereby driving the animal food market during the forecast period. The outbreak of the Coronavirus disease (COVID-19) has acted as a massive restraint on the animal food manufacturing market in 2020 as supply chains were disrupted due to trade restrictions and consumption declined due to lockdowns imposed by governments globally. COVID-19 is an infectious disease with flu-like symptoms including fever, cough, and difficulty in breathing. The virus was first identified in 2019 in Wuhan, Hubei province of the People’s Republic of China, and spread globally including Western Europe, North America, and Asia. Food and beverage manufacturers depend on the supply of raw materials from domestic and international suppliers. As many governments restricted the movement of goods across countries and locally, manufacturers had to halt production due to a lack of raw materials. Also, restrictions on the trade of non-essential goods and fear of contamination through manufacturing facilities contributed to the decline. The outbreak had a negative impact on businesses throughout 2020 and into 2021. However, it is expected that the animal food manufacturing market will recover from the shock across the forecast period as it is a 'black swan' event and not related to ongoing or fundamental weaknesses in the market or the global economy. Growing awareness among cattle farmers and pet owners about the advantages of probiotics for animal health is leading to the increased use of probiotics in the animal feed for farm animals like cattle, horses, ruminants, and poultry. The increasing advancements in molecular biology and gene sequencing are allowing researchers to dig deep for finding new probiotic applications for animals, in feed, and consumer packaged health products. The significant rise in the adoption of probiotics in animal feed for farm animals has shown beneficial results in terms of animal performance, digestion, and immune system. For instance, the US-based company, Bactana Animal Health has completed its first round of funding for developing a novel bacterial stain of Faecalibacterium prausnitzii for commercial livestock usage. Major companies in the animal food market include Cargill Incorporated, New Hope Liuhe Co. Ltd., Charoen Pokphand Foods PCL, Bunge Limited, Mitsui, CJ Cheiljedang Corp, Land O'Lakes Inc, ForFarmers NV, Japfa ltd, and Tate & Lyle. Asia Pacific was the largest region in the animal food market in 2021. Western Europe was the second-largest region in the animal food market. The regions covered in the animal food market report include Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The countries covered in the animal food market are Argentina, Australia, Austria, Belgium, Brazil, Canada, Chile, China, Colombia, Czech Republic, Denmark, Egypt, Finland, France, Germany, Hong Kong, India, Indonesia, Ireland, Israel, Italy, Japan, Malaysia, Mexico, Netherlands, New Zealand, Nigeria, Norway, Peru, Philippines, Poland, Portugal, Romania, Russia, Saudi Arabia, Singapore, South Africa, South Korea, Spain, Sweden, Switzerland, Thailand, Turkey, UAE, UK, USA, Venezuela, and Vietnam. The global animal food market is segmented - 1) By Type: Poultry Feed, Cattle Feed, Aquaculture Feed, Others 2) By Distribution Channel: Supermarkets/Hypermarkets, Convenience Stores, E-Commerce, Others 3) By Ingredients: Cereal, Oilseed Meal, Supplements, Others Subsegments Covered: Cereal, Oilseed Meal, Molasses, Fish Oil and Fish Meal, Supplements, Other Ingredients Prawn Feed, Fish Feed, Other Aqua Feed