London, 20 July 2015: Technavio, the independent tech-focused global research firm, has published a report on the global animal feed market 2015-2019, which is estimated to grow at a CAGR of 4.97% during the forecast period of 2014-2019.
The increase in awareness of the health benefits of animal feed is driving this market. Moreover, the increased per capita global consumption of meat because of an increase in the overall population is contributing to the demand for animal feed.
“With the increase in demand for meat, producers are purchasing feed with added growth promoters and performance-enhancing ingredients to increase meat production,” says Faisal Ghaus, Vice President of Technavio.
“The feed enzymes market is gaining significance as it helps in better feed conversion by the animal, increases the rate of biochemical reaction, improves feed quality, and contributes to the animal’s welfare.”
Key Market Drivers
- Rise in Global Meat Production and Consumption
- Increase in Farm Animal Population
- Health Benefits of Animal Feed
Key Market Trends
- Demand for Feed Enzymes
- Demand for Organic Meat
- Growth in Medicated Feed
Key Market Vendors
- Alltech Inc.
- Balchem Inc.
- Cargill Inc.
- Kemin Industries Inc.
- Novus International Inc.
- Nutreco NV
To define the market circumstances in the next 3-4 years, Technavio analysts have conducted in-depth analysis of the impact of market drivers, challenges and trends featuring data on product segmentations, vendor shares, growth rate by revenue and an evaluation of the different buying criteria in the order of importance.
https://www.technavio.com/%3Cp%3EIf%20you%20are%20interested%20in%20more%…
