Arshine Global Swine Feed Industry Analysis
The global swine feed market size was valued at $100.2 billion in 2019, and is projected to reach $121.2 billion by 2027, registering a CAGR of 3.5% from 2021 to 2027.
Swine feed also known as pig feed is prepared from a combination of nutrients, either from plant or animal sources, mainly includes soy meal, corn, barley, wheat, sorghum, minerals, vitamins, other micronutrients, and antibiotics. The swine feed is available in different formats in the market, which includes mash, crumbs, and pellets. Swine feed in the pellets form is the most popular form among the swine farm owners. Furthermore, rise in consumption of pork meat is driving the demand for swine feed in terms of value sales. This is because swine feed provides nutrients to pigs. This in turn has driven the swine feed market growth in terms of value sales. The swine feed market analysis is done on the basis of regions, key players, and segments.
The outbreak of coronavirus has reduced the demand for pork in commercial establishments, and as a result, the consumption of pork meat through these establishments has been impacted negatively. This in turn has negatively impacted the demand for swine feed in terms of value sales. Thus, hampering the growth of the market in terms of value sales.
The global swine feed market is segmented on the basis of product type, form, nature, and region. By product type, the market is classified into starter, grower, and finisher. By form, it is divided into pellets, mash, and crumbs. By nature, it is segmented into conventional and organic. Region wise, the market is analyzed across North America (the U.S., Canada, and Mexico), Europe (Germany, France, the UK, Italy, Spain, Russia, and rest of Europe), Asia-Pacific (China, India, Japan, Australia & New Zealand, Korea, ASEAN, and rest of Asia-Pacific), and LAMEA (Brazil, Saudi Arabia, South Africa, Turkey, and Rest of LAMEA).
On the basis of product type, the grower segment accounted for the highest market share in 2019. Starter or creep feed is important for the future development of pigs of all sizes. Creep feeding or starter is essential for sucking piglets for faster growth and attainment of satisfactory weaning weight. It eases the transition from sow’s milk to solid pig starter feed and promotes gut and digestive enzyme development, which enables the piglet to digest nutrients from food sources other than milk. Thus, the forementioned benefits associated with the starter or creep feed have increased the demand among the farm owners to produce good quality pigs.
By form, the pellets segment accounted for the highest swine feed market share in 2019. Pellets are the most common small cylinder shape swine feed available in the market. Swine feed in pellets form is becoming popular among the pig owners as they are convenient, easy to handle, & feed.
By nature, the conventional segment accounted for the highest share in the global swine feed market. Conventional swine feed is made from ingredients such as corn, soya, and others that are grown by utilizing chemical, pesticides, and fertilizers. The easy availability of these feeds at affordable prices in the market has driven the growth of the conventional swine feed market in terms of value sales. However, organic segment is expected to be the fastest growing segment in terms of during the swine feed market forecast year.
Region wise, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA. Asia -Pacific accounted for the highest market share in 2019. This is attributed to the growing hectic lifestyles of consumers in this region due to which they are inclining toward convenience and ready to eat food products that can be consumed directly or requires less preparation time.
By nature, the conventional segment accounted for the highest share in the global swine feed market. Conventional swine feed is made from ingredients such as corn, soya, and others that are grown by utilizing chemical, pesticides, and fertilizers. The easy availability of these feeds at affordable prices in the market has driven the growth of the conventional swine feed market in terms of value sales. However, organic segment is expected to be the fastest growing segment in terms of during the swine feed market forecast year.
Article Source: https://www.arshinefeed.com/Industry-news