Food consultants predict feed industry growth

Market Size & Growth

According to Alltech’s most recent Global Feed Survey, the global feed industry is worth an estimated $460 billion. Global production of compound feed grew at a CAGR 2.7% to 980 million tonnes since the turn of the millennium.

Figure 1 illustrates the regional breakdown of global production by species and number of feed manufacturing facilities by region in 2014. Asia and Europe dominate production, producing 36% and 24% of global feed production respectively. Combined, the Americas produce 35% of global volumes, while Africa and the Middle East produce 4% and 3% respectively.

The species breakdown is similar in all regions except the Middle East, where poultry feed dominates to a greater extent in the absence of pork.

Growth in the industry is underpinned by increasing demand for livestock and poultry products which is in-turn, driven by population growth, increased affluence and changing dietary preferences.

Feed is a mature industry in Europe and North America. However, a simple comparison of the percentage of global feed production with the percentage of world population in each region (see figure 2) indicates positive growth prospects for the compound feed industry in Asia and Africa in particular.

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Malachy Mitchell

Managing Director

As Farrelly and Mitchell's co-founder and Managing Director, Malachy provides unmatched expertise. Working alongside CEO's, executives, and leaders from public and private sectors, Malachy empowers agribusinesses to fully achieve their potential.

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