Starter feed market worth USD 30.74 billion by 2023
Added: (Wed Jun 26 2019)
Pressbox (Press Release) -
Starter feed market size and market growth:
Starter feed market was worth USD 24.55 billion in 2018and estimated to be growing at a CAGR of 4.6% to reach USD 30.74 billion by 2023.
Starter feed market Overview:
Starter feed is a mixture of dairy and digestive probiotics, protein products, pacifiers, enzymes, and flavors & sweeteners to obtain high performing pre-starter and starter diets. In the first stages, the substantial ingestion leaves from a period of adaptation of the animal to a new diet. Throughout the initial ages, the animal develops its digestive and enzymatic system, to optimize growth and function. Usage of the quality starter feeds the first generation of animals, can obtain much higher outputs on animal performance in terms of growth, nutritional, and sanitary.
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Starter feed market drivers and restraints:
World starter feed market is mainly driven by the increasing health concerns related to animals around the globe. Besides, the growing adaptation of animals, increasing livestock production to meet the rising meat consumption and adaptation of precision nutrition techniques to increase the productivity of the animals. Nevertheless, the lack of awareness related to starter feed products and stringent regulatory policies for approval is estimated to hamper the growth of the feed market during the forecast period.
Report segmented as:
By type:
• Medicated
• Non medicated
By ingredients:
• Wheat
• Corn
• Soybean
• Oats
• barley
By livestock:
• swine
• poultry
• ruminants
• equine
Starter feed market Geographical analysis:
Geographically, starter feed market is segregated into five regions i.e., Latin America, Asia- Pacific, Europe, North America, and the Middle East & Africa. North America starter feed market estimated to grow at high rates due to the increase in meat consumption rates, increasing awareness and concerns relating to the animal health for best productivity. Besides, the development of the livestock industry in this region is estimated to fuel the growth. The Asia Pacific was projecting the lucrative growth opportunity for starter feed market players due to the developing livestock industry and growing rates of meat demand in the region. In India product developments and launches by the local and international players are driving the market growth.
Starter feed market key players:
Some of the key players in the market include BASF SE (Germany), Cargill, Incorporated (U.S.), Nukamel B.V. (Netherlands), Archer Daniels Midland Company (U.S.), ForFarmers(Netherlands), Koninklijke DSM NV (Netherlands) and Evonik Industries AG (Germany) to name a few.
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The Scope of the report:
This report offers the current product and services market evaluation and the future estimation of the market. It helps us understand the market better through size anticipation and CAGR calculation to estimate the next market. It has a broader segmentation for better understanding of the enterprising of the market at a low level by segregating the market into smaller sectors.
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