Published Date : Jun 10, 2016
Globally, the demand for prepared animal feed has risen significantly in the last few years. The market for prepared animal feed is also expected to surge at a robust in the forthcoming years, steered by the presence of untapped market potential, the increasing consumption of animal-based food, growth in livestock, and the rising disposable income.
However, despite reporting positive growth since the last few years, the market is likely to be restrained by the prevalence of unfavorable climatic conditions, rise in ingredient price, and low impact on native breeds. Nevertheless, the rising usage of Information Technology for increasing the production of feed from unusual resources will create growth opportunities for the market in the near future. The market will also gain from the adoption of strategic activities.
Asia Pacific Leads Global Prepared Animal Feed Market
Regionally, Asia Pacific has been exhibiting lucrative prospects for the prepared animal feed market. With China emerging as the largest producer of animal feed, the Asia Pacific market for the same is expected to witness further growth in the forthcoming years. North America also has been exhibiting attractive opportunities for the prepared animal feed market. Growth witnessed in Asia Pacific is significantly aided by the increasing income level, and rising spending on meat consumption, particularly in developing countries such as India and China.
Mergers and Acquisitions Between Companies are encouraged to Gain Competitiveness
Some of the leading companies operating in the market include Dachan Group, Zen-noh, Nutreco, ForFarmers BV, Bruker Corporation, New Hope Group, Purina, CP Group, Skretting (Nutreco), DSM, Cargill, BRF, Twins Group, Tyson Food, East Hope, Tongwei, and COFCO. A majority of the most prominent companies operating in the market are involved in mergers and acquisitions, collaborations, and joint ventures to win a major share in the market.
Some of the companies in the U.S. are also involved in prepared animal feed production. In the first decade of 21st century ConAgra Inc., emerged as the country’s top exporter of grain. Furthermore, in 1998, Ralston Purina Company that is based in St. Louis, Missouri, had established Agribrands International to control its international agricultural product division.