Meticulous Research®, a premier global market intelligence provider, has published its latest analysis titled, "Animal Feed Market Size, Share, Forecast & Trends Analysis by Type (Compound Feed, Roughages), Source (Plant, Animal, Novel), Form (Dry, Wet), and Animal Type (Poultry, Ruminants, Swine, Aquaculture) – Global Forecast to 2031." The report projects that the animal feed market will reach an estimated $1,008.8 billion by 2031, registering a compound annual growth rate (CAGR) of 4.7% from 2024 to 2031. In terms of volume, the market is forecasted to reach 2,965 million tons by 2031, at a CAGR of 3.1%.

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The anticipated growth of the animal feed market is fueled by the rapid commercialization of the livestock industry, surging demand for high-quality animal-derived products, and increased investments in R&D aimed at nutritional innovations. Fluctuations in raw material prices pose challenges for market growth; however, rising awareness regarding animal health and nutritional requirements presents significant growth opportunities for key market players.

Leading Players Shaping the Future of Animal Feed

Key industry participants highlighted in this comprehensive report include:

Charoen Pokphand Foods PCL (Thailand)
New Hope Liuhe Co., Ltd. (China)
Cargill, Incorporated (U.S.)
Brf S.A. (Brazil)
Tyson Foods, Inc. (U.S.)
Nutreco N.V. (Netherlands)
Archer-Daniels-Midland Company (U.S.)
Alltech Inc. (U.S.)
ForFarmers N.V. (Netherlands)
De Heus Animal Nutrition (Netherlands)
Royal Agrifirm Group (Netherlands)
Guangdong HAID Group Co., Ltd. (China)
These companies are actively working on innovative feed formulations and expanding product portfolios to meet the evolving demands of the livestock industry and enhance animal productivity and health outcomes.

Market Segmentation Insights

The global animal feed market has been analyzed based on type, source, form, animal type, and region, uncovering unique growth dynamics across each category.

By Type: Dominance of Compound Feed

In 2024, compound feed is expected to represent 71.8% of the animal feed market, driven by strong demand from commercial livestock farmers and pet owners seeking nutritionally balanced feeds that support animal health and growth. The increased prevalence of animal diseases and the high demand for quality meat and dairy products further underscore the segment's dominance. Additionally, the feed concentrates segment is poised to grow at the highest CAGR of 5.4% over the forecast period due to its nutrient-dense composition.

By Source: Plant-Based Feed Leads While Novel Sources Gain Momentum

Plant-based feed continues to hold the largest market share, accounting for 69.9% in 2024, due to its cost-efficiency, raw material availability, and broad acceptance. However, the report projects the novel sources segment, comprising innovative protein sources, will experience the highest growth rate, with a 6.0% CAGR during 2024–2031. This growth is supported by increased recognition of the nutritional benefits of novel sources and regulatory approvals encouraging their use to meet the rising global protein demand.

By Form: Dry Feed as a Convenient and Preferred Choice

Dry feed is expected to account for 92.7% of the animal feed market in 2024. Its high share is attributed to the advantages of ease in handling, extended shelf life, nutrient stability, and cost-effectiveness, making it a preferred option among livestock producers. The segment is projected to achieve a CAGR of 4.8% during the forecast period, largely driven by the poultry sector and the growing trend toward commercial livestock production.

By Animal Type: Poultry Segment Leading Growth

In 2024, the poultry segment is expected to capture 32.9% of the market share, fueled by increasing consumer preference for poultry products and the comparatively lower production cost of poultry meat. The expansion of poultry operations and growing consumer preference for white meat over red meat contribute to this segment's robust growth.

By Region: Asia-Pacific as the Largest Market

The Asia-Pacific region is set to dominate the animal feed market, holding a 39.2% share by 2024. Valued at $286.2 billion, this region's dominance is driven by a rapidly growing population, rising meat consumption, high milk production, and the growth of livestock farming. The presence of major feed producers in Asia-Pacific further cements its position as a pivotal regional market.

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About Meticulous Research®

Meticulous Research® was founded in 2010 and incorporated as Meticulous Market Research Pvt. Ltd. in 2013 as a private limited company under the Companies Act, 1956. Since its incorporation, the company has become the leading provider of premium market intelligence in North America, Europe, Asia-Pacific, Latin America, and the Middle East & Africa.

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