The scope of our recent study on the "Corn and Wheat-Based Feed Market Forecast to 2030 - Global Analysis - by Product Type and Livestock" includes the factors fueling the corn and wheat-based feed market growth, revenue estimation, and forecast, market share analysis, and the identification of significant market players and their key developments.
The corn and wheat-based feed market size was valued at US$ 196.71 billion in 2022 and is projected to reach US$ 270.95 billion by 2030; it is expected to register a CAGR of 4.1% during 2022-2030.
Corn and wheat are important sources of energy and protein for livestock animals. Corn is one of the largest crops grown for animal feed in the world followed by wheat, soybean, and others. Feed manufacturers use corn-based feed products such as corn gluten feed, corn gluten feed, corn steep liquor, and whole grain corn to feed their animals to ensure their proper growth and overall wellbeing. Over the past few years, there has been increasing demand for meat and dairy products due to increasing protein requirements across the globe. Therefore, livestock farmers prefer high-quality feeds for their animals. This factor is fueling the demand for corn and wheat-based feed, driving the corn and wheat-based feed market growth.
The rising livestock production has encouraged manufacturers to focus on providing good quality and nutrient-rich feed for livestock. The growth in livestock production creates a demand for corn and wheat-based animal feed as cereals and grains are one of the main sources of energy and nutrients for animals. Corn is one of the major cereals used for animal feed production. According to the US Department of Agriculture, 40% of total domestic corn is used for animal feed. Wheat bran is intended for animal feed due to its high percentage of protein and high content of amino acids. Additionally, wheat has a large amount of fiber, which facilitates the digestive processes in animals. Thus, increasing healthy livestock production across the world drives the global corn and wheat-based feed market growth.
Wheat is one of the cereals used to make animal feed with the highest protein content. Wheat has a high energy value with 3.0 to 3.5 Mcal ME (Megacalories of Metabolizable Energy), considered an important energy source in animal feed. Wheat-based feed is mainly used for polygastric animals such as ruminants. Wheat bran is an important source of minerals such as selenium, zinc, iodine, and potassium, which helps in multiple physiological functions such as the immune system. Wheat has a large amount of fiber that facilitates animal digestive processes. Further, wheat has moisture values below 14%; it aids in avoiding problems related to digestibility and contamination by mycotoxin-producing fungi. Such nutritional benefits influence livestock owners to prefer corn and wheat-based feed to maintain or enhance the health of animals. Thus, the benefits associated with corn and wheat-based feed boost the corn and wheat-based feed market growth.
The China is one of the significant importers of corn and wheat-based feed globally. The country's massive swine industry influences the demand for corn and wheat-based feed in China. According to the Food and Agriculture Organization of the United Nations, China, the mainland is the global leader in pig meat production, accounting for 45% of the global production between 2010 and 2021. Despite challenges such as disease outbreaks and regulatory changes, pork remains a staple protein source in the Chinese diet. As the Chinese Government works to rebuild its swine herd following the African Swine Fever outbreak and promote modernization in the livestock sector, there's a surge in demand for feed grains to support swine production, with corn and wheat-based feed being critical components of swine diets.
On the basis of livestock, the market is segmented into poultry, ruminants, swine, aquaculture, and others. The global corn and wheat-based feed market share for the ruminant segment was significant in 2022. Ruminants include dairy cattle, beef cattle, sheep, goats, and buffaloes.Milk, curd, cheese, yogurt, and other dairy products are witnessing immense demand among humans due to their high protein content. According to the 2023 Alltech Agri-Food Outlook report, North America is one of the largest producers of dairy and beef feed. Dairy and beef cattle widely rely on wheat and corn-based feed to meet their daily energy and protein requirements. Thus, the rising demand for beef and dairy products bolsters the need for wheat and corn-based feed among ruminant farmers.
The market is segmented into five main regions-North America, Europe, Asia Pacific, Middle East & Africa, and South & Central America. In terms of revenue, Asia Pacific dominated the corn and wheat-based feed market share, followed by North America and Europe. In Europe, Spain is one of the largest producers and exporters of corn and wheat-based feed. In Spain, the surge in demand for corn and wheat-based feed is influenced by the country's pig industry, particularly for the production of cured meats such as ham and chorizo. Spain is one of the largest pork producers in Europe, with a high demand for feed grains to support pig nutrition and growth. Corn and wheat-based feed are essential for pig production in Spain, driving their demand as the Spanish pork industry continues expanding and diversifying its product offerings for domestic and international markets.
France is also one of the rapidly growing markets for corn and wheat-based feed in Europe. In France, the surge in demand for corn and wheat-based feed is influenced by the country's thriving livestock sector. France is the eighth largest milk producer worldwide, with a high demand for feed grains to support dairy cow nutrition and milk production. Corn and wheat-based feed are essential for dairy rations. Thus, the demand for such feed is expected to increase as farmers strive to maintain milk quality and production levels in the competitive French dairy market.
Global Corn and Wheat-Based Feed Market Breakdown - by Region
The report includes the segmentation of the global corn and wheat-based feed market as follows:
The global corn and wheat-based feed market is segmented based on product type and livestock. Based on product type, the corn and wheat-based feed market is bifurcated into corn-based and wheat-based. The corn-based segment is further sub-segmented into corn gluten meal, corn gluten feed, and other corn-based feed. The wheat-based segment is further divided into wheat gluten, wheat bran, and other wheat-based feed. By livestock, the market is segmented into poultry, ruminants, swine, aquaculture, and others.
By geography, the market is broadly segmented into North America, Europe, Asia Pacific, the Middle East & Africa, and South & Central America. The North America market is further segmented into the US, Canada, and Mexico. The corn and wheat-based feed market in Europe is sub-segmented into Germany, France, the UK, Italy, Spain, and the Rest of Europe. The Asia Pacific corn and wheat-based feed market is further categorized into China, India, Japan, Australia, South Korea, and the Rest of Asia Pacific. The market in the Middle East & Africa is further segmented into South Africa, Saudi Arabia, the UAE, and the Rest of Middle East & Africa. The South & Central America market is further categorized into Brazil, Argentina, and the Rest of South & Central America.
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