MARKET ANALYSIS
A starter feed is a specially prepared feed for very young livestock and poultry, enabling them to adapt solid feed. This enhances their absorption of later feed. New-born animals must have a proper feeding regime containing high protein levels to support their physical growth. The basic feeding stuff is filled with all the essential nutrients required for the growth of livestock, usually containing 20-25% of percent protein. Further, the feed also helps in reducing the costs concerning medicines and other treatments by improving the overall health of the livestock.
GROWTH DRIVERS AND CHALLENGES
Growing demand for livestock products will influence the revenue growth of the starting feeding stock market. The market's growth will be accelerated by increasing consumer awareness about animal feeding. The major market drivers that will continue to fuel growth are rapidly expanding urbanization and growing disposable income levels for the population. In addition, the growth of the starter feed market is expected to be enhanced by a significant increase in the adoption of precision nutrition techniques. Other factors, such as rising demand for dairy and meat products, as well as technological development in agricultural holdings, will positively influence the growth of the starter feed market. The second major factor is the growing production of livestock to cope with an increase in demand for products derived from animals, which will be a crucial trend that further boost the market growth. The supply of raw materials for feeding materials and the high installation cost for manufacturing restrain the market of starter feed products in the forecast period.
REPORT SEGMENTATION AND SCOPE
The "Global Stater Feed Market Analysis to 2030" is a specialized and in-depth study with a major focus on the global stater feed market trends and growth opportunities. The report aims to provide an overview of the global stater feed market with detailed market segmentation by type, ingredient, livestock, form, and geography. The global stater feed market has been witnessing high growth over the recent past and is expected to continue this trend during the forecast period. The report provides key statistics on the consumption of stater feed worldwide along with their demand in major regions and countries. In addition, the report provides the qualitative assessment of various factors affecting the stater feed market performance in major regions and countries. The report also includes a comprehensive analysis of the leading players in the stater feed market and their key strategic developments. Several analyses on the market dynamics are also included to help identify the key driving factors, market trends, and lucrative stater feed market opportunities that would, in turn, aid in identifying the major revenue pockets.
Further, ecosystem analysis and Porter’s five forces analysis provide a 360-degree view of the global stater feed market, which helps understand the entire supply chain and various factors affecting the market growth.
SEGMENTAL ANALYSIS
The global stater feed market is segmented on the basis of type, ingredient, livestock, and form. Based on type, the stater feed market is bifurcated as medicated and non- medicated. On the basis of ingredient, the market is classified as wheat, corn, soybean, oats, barley, and others. The stater feed market is categorized on the basis of livestock into ruminants, swine, poultry, aquatic animal, equine, and others. Based on form, the stater feed market is segmented as pellets, crumbles, and others.
Based on livestock, the poultry segment accounted for a significant market share in starter feed market. Poultry farming is a new emerging segment in the starter feed market. Increasing commercialization of poultry farming can enhance animal feeding products and creates new opportunities for the starter feed market. New growth opportunities are also set to follow in the coming years, given the potential for poultry feed due to an increase in egg consumption, the introduction of new products, and strong demand from different end-use industries.
REGIONAL ANALYSIS
The report provides a detailed overview of the global stater feed market with respect to five major regions, namely, North America, Europe, Asia-Pacific (APAC), Middle East and Africa (MEA) and South & Central America. North America accounted for the largest market share of the starter feed market. The region is the world's leading producer and consumer of dairy and meat. This dominance is based on the growing demand for meat and animal products and rising awareness among farmers in this area about the health benefits of starter feeding. Thus, factors are driving the growth of the starter feed market in the North American region.
In addition, Europe and Asia Pacific region are constantly witnessing high market growth. The growth is attributed to Increasing consumption of animal protein, growing food safety concern, and rising population. In Europe, the UK is one of the largest markets for starter feed as the country’s livestock sector is constantly growing. The UK comprises a diverse and huge livestock sector, which include dairy cattle and beef, sheep, pigs, and poultry.
INDUSTRY DEVELOPMENTS AND FUTURE OPPORTUNITIES
Partnership, acquisitions and new product launches were found to be the major strategies adopted by the players operating in the global stater feed market.
- August 2022: BioMar Group and Síldarvinnslan have signed a memorandum of understanding to build a modern high-tech aquafeed production facility in Iceland. The joint venture offers an opportunity to fully utilize by-products from Sildarvinnslans’ fishing operations and tap into BioMar’s extensive R&D portfolio and knowledge in the use of novel ingredients. The agreement includes Sildarvinnslan’s Laxá production facility and existing feed operations, which have been importing and distributing BioMar starter feeds for several years.
- October 2021: Cargill launches poultry feed with essential oils for healthy flocks and maximized egg production. Now available nationwide, the NatureWise lineup includes Layer 16% Pellet, Layer 16% Crumble, Hearty Hen Soy-Free, Free-Range Egg Producer, Feather Fixer, All Flock Pellet, All Flock Crumble, Meatbird, and Chick Starter Grower.
IMPACT OF COVID/IMPACT OF RECESSION
The outbreak of COVID-19 resulted in negatively impacting the market for starter feed. The overall animal feed industry was affected by restaurants closure worldwide. A dramatic shift was witnessed in consumption pattern of people that resulted manufacturers to reevaluate their strategies. Aquaculture, lamb production, veal, and beef sectors were the most affected livestock sectors globally.
The ongoing recession is further expected to hinder the growth of starter feed market, particularly in western economies. The overall F&B industry is expected to witness decrease in demand for beef, meat, and other livestock products. For instance, a minor decrease in the China’s pork demand was noticed in 2022 due to challenged household incomes, probable decline in specific channels, and increased savings. The pork trade is expected to surge moderately in Q1 2023, it might not remain the same throughout the year, owing to slow production in the US and Europe. In contrast, the pork production in Brazil witnessed constant growth in 2022 and is expected to further increase pork production and exports in 2023. Thus, the impact of recession on starter feed market is anticipated to be negative in the western countries.
COMPETITIVE LANDSCAPE AND KEY COMPANIES
Some of the key players operating in the stater feed market include, ACI Limited, ADM, Alltech, Associated British Foods plc, BASF SE, Cargill, Incorporated, CCPA GROUP, C-Feed AS, Charoen Pokphand Foods PCL, Devenis, DSM, Evonik Industries AG, Godrej Agrovet Limited, Janaki Group of Companies, Land O'Lakes, Inc., Nutreco, Purina Animal Nutrition LLC, Purina Mills, Roquette Frères, Tyson Foods, Inc, and among others.