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(HomeGarden247.com, June 12, 2018 ) The Swine(Pig) Feed helps in the optimization of the nutritional level of the provision of maximum nutrition from pork, which is the culinary name for the meat of the domestic swine or pig which in-turn makes the activity of livestock production and animal husbandry of swine significantly cost-effective. Pork is one of the most important meats consumed around the globe in large quantities, the demand for which drives the swine feed market.
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The global swine feed market is estimated to have a value of USD 5.47 billion in 2016. With a CAGR of 5.5%, the market size is expected to grow rapidly to cross USD 7.15 billion by 2022. The market growth can be attributed to the rising disposable incomes of the populace combined with the growing demand for pork with good nutrition.
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Market Underlying Factors
Animal nutrition is majorly dependent on the type of feed and the quality of feed being supplied to the animals. In modern livestock management, feed activities play a significant role in the improvement of characteristics of the feed to render the benefits of improvement in digestion and a significant increase in the nutritional content and taste of the feed. It is estimated by some accounts that feed cost accounts for more than 70 percent of the cost of production of pork and plays a major role in the outcome of quality of the product.
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As of now, Europe with its advanced efforts on the reduction of feed costs and increasing productivity of animals accounts for the largest share of global Swine(Pig) Feed market at about 37.3% of the total global market, followed by North America and the Asia Pacific.
The major market contributors for the global Swine(Pig) Feed market are Novus International Inc. (U.S), CHR Hansen Holdings A/S (Denmark), Lallemand Inc (Canada), Royal DSM N.V. (The Netherlands), BASF (Badishce Anilin und Soda Fabrik) (Germany), Alltech Inc. (U.S), Charoen Popkhand Foods (Thailand), ADM (Archer Daniels Midland Company) (U.S), Cargill Inc. (U.S) and ABF Plc (Associated British Food) (U.K).
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