Product innovations and surge in consumption of pork meat across the world drive the growth of the global swine feed market. Asia-Pacific contributed to the highest market share in 2019, accounting for more than half of the total market, and will maintain its dominance throughout the forecast period. The demand for pork in commercial establishments reduced significantly, and consequently, the consumption of pork meat lowered down through these establishments.
Portland, OR, Jan. 14, 2021 (GLOBE NEWSWIRE) -- According to the report published by Allied Market Research, the global swine feed market generated $100.2 billion in 2019, and is expected to generate $121.2 billion by 2027, witnessing a CAGR of 3.5% from 2021 to 2027.The report provides anextensive analysis of drivers & opportunities, key segments, top winning strategies, major investment pockets, value chain, and competitive landscape.
Product innovations and surge in consumption of pork meat across the world drive the growth of the global swine feed market. However, surge in acceptance of veganism worldwide hinders the market growth. On the other hand, rise in demand for organic feed globally and investments in R&D activities create new opportunities in the coming years.
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The demand for pork in commercial establishments reduced significantly, and consequently, the consumption of pork meat lowered down through these establishments. So, the sales volume of swine feed also reduced.
The production activities have been halted due to lockdown. The supply chain has also been disrupted. The investments in new projects have been locked and the new launches have been postponed.
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The report offers detailed segmentation of the global swine feed market based on product type, form, nature, and region.
Based on product type, the grower segment accounted for the largest market share, accounting for nearly two-fifths of the market in 2019, and will maintain its lead position during the forecast period. However, the starter segment is expected to portray the fastest CAGR of 4.6% from 2021 to 2027.
Based on nature,the conventional segment contributed to the highest share in 2019, holding nearly two-thirdsof the global swine feed market, and is projected to witness its lead position in terms of revenue by 2027. However, the organic segment would manifest the highest CAGR of 4.1% from 2021 to 2027.
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Based on region, Asia-Pacific contributed to the highest market share in 2019, accounting for more than half of the total market, and will maintain its dominance throughout the forecast period. However, North America is expected to grow at the largest CAGR of 5.8% during the forecast period.
Leading players of the global swine feed market analyzed in the research includePurina Mills LLC, Cargill Inc., Archer Daniel Midland Company, Lallemand Inc., BASF SE, Charoen Pokphand Foods, Kent Corporation, Kreamer Feed Inc., Keystone Mills, and Alltech.
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