Swine Feed Market

Swine Feed Market - Overview

The global swine feed market is estimated to rise at a healthy rate from 2021 to 2031 (forecast period). Swine feed is recognized to be high in minerals, vitamins, and fiber, which is expected to boost its adoption in the upcoming years. The increase in global demand for pork is likely to propel the expansion of the global swine feed market during the forecast period. Moreover, rising consumer concern about pork nutrition is anticipated to fuel the growth of the global swine feed market. Furthermore, increased livestock production is expected to spur the rise of the global swine feed market during the forecast period.

Swine Feed Market - Competitive Landscape

Leading players in the swine feed market are Purina Mills LLC, Charoen Pokphand Foods, Archer Daniel Midland Company, Kent Corporation, Cargill Inc., Keystone Mills, BASF SE, Lallemand Inc., Alltech, and Kreamer Feed Inc.

These organizations engage in mergers and acquisitions and joint ventures to produce swine feed products and keep their position in the worldwide market. Moreover, the development of customized swine feed products in tandem with additives is expected to be a major factor driving the global swine feed market growth.

Swine Feed Market - Trends and Opportunities

Food safety concerns have increased the demand for top-quality swine feed to guarantee meat safety. Moreover, the growing understanding of the significance of keeping a healthy pig diet among farm owners is the main aspect projected to boost the sales of swine feed market. Farm owners are transitioning from standard swine feed to premium and functional varieties that assist improve the animals' resistance against enzootic diseases while also reducing the likelihood of metabolic problems, infections, injuries, and acidosis. Furthermore, a surge in demand for organic pig meat from developed-country customers, as well as the implementation of novel animal rearing procedures and the adherence to high farming practices, is anticipated to improve the swine feed market outlook.

Agriculture and food production have been identified as critical sectors globally during the COVID-19 scenario. As a result, farmers have continued to guarantee that farm animals receive the highest nourishment in order to feed a rising number of worldwide consumers. Nevertheless, supply chain disturbance became the most significant factor influencing the swine feed market.

China is a major manufacturer and exporter of swine feed. During the COVID-19 scenario, while the enterprises were closed for the Lunar New Year, they stored substantial volumes of products, enough for 2-3 months of supplies. Furthermore, logistics concerns hampered the collecting of vessels and containers and the transport of some micro-ingredients. However, with the relaxation of COVID-19 restrictions, the global swine feed market is likely to rebound during the forecast period.

Swine Feed Market - Regional Landscape

The swine feed market in Asia Pacific is projected to expand during the forecast period. Growing meat production and consumption in nations like Vietnam, China, Thailand, and South Korea are expected to contribute to regional market expansion.

China represented about half of the global pork output in 2018 and is anticipated to witness increased demand for swine feed, propelling the regional market. Moreover, nations such as Australia and South Korea import huge amounts of pork, which is anticipated to positively influence regional market growth.

North America is expected to contribute significantly to the global swine feed market during the projected period. The United States and Canada are projected to assist the growth of the swine feed market in North America.

Europe is likely to experience to considerable growth in the global swine feed market during the projected period.