The Starter Feed Market is expected to register 4.08% CAGR from 2019 to 2024 and reach USD 24.18 billion by the end of 2024. Starter feed is a specially formulated feed for newly born offspring of livestock. It is critical to provide the newly born livestock with a proper diet, which contains high amounts of protein to ensure enhanced growth. Starter feed contains all the necessary nutrition, including approximately 20–25% protein, which is essential for the growth of all livestock animals. Starter feed also helps improve the immune system of animals, which helps in reducing the cost associated with treatment and medicines. These factors are predicted to drive the growth of the market. The increasing demand for meat and meat products is expected to fuel the growth of starter feed industry. Additionally, the commercialization of poultry farming is anticipated to foster the growth of starter feed industry. However, the high cost of starter feed may hinder the growth of market.
The starter feed market has been segmented based on type, form, livestock, and region. The market has been divided, based on type, into medicated and non-medicated. The market has been bifurcated, based on form, into pellets and crumbles. Based on livestock, the market has been categorized into ruminant, poultry, swine, aquaculture, and others The market has been analyzed for four key regions—North America, Europe, Asia-Pacific, and the rest of the world. The North American starter feed market has further been segmented into the US, Canada, and Mexico. The European market has been classified as the UK, Germany, France, Italy, Spain, and the rest of Europe. The market in Asia-Pacific has been segmented into China, India, Japan, Australia and New Zealand, and the rest of Asia-Pacific. The market, in the rest of the world, has been segmented into South America, the Middle East, and Africa.
Cargill, Inc. (US), Evonik Industries AG (Germany), Archer Daniels Midland Company (US), Purina Mills, LLC (US), Associated British Foods PLC (UK), Alltecht (US), Charoen Pokphand Foods PCL (Thailand), Nutreco N.V. (Netherlands), ACI Godrej Agrovet Private Ltd (India), Roquette Freres S.A. (France), Vimala Feeds Private Limited (India), C-Feed AS (Norway), CCPA GROUP (France), Land O'Lakes, Inc. (US), and Tyson Foods, Inc. (US) are some of the key players in the global market
Regional Market Summary
The market in North America is expected to dominate the global starter feed market during the forecast period due to the increasing demand for meat and meat products. Moreover, the increased adoption of modern practices in animal husbandry is predicted to boost the demand for global market in the region. North America is followed by Europe due to the growing awareness about the health benefits of starter feed among farmers.
Asia-Pacific is projected to grow at the highest CAGR in global market, due to expansion and commercialization of livestock raising activities. Additionally, the increasing consumption of animal-sourced food is expected to fuel the growth of global market in the region.
The market in the rest of the world is expected to grow at a steady rate as the demand for starter feed is increasing in various countries such as Argentina and Brazil, due to the rapid growth of the animal husbandry industry.
Global Starter Feed Market, by Type
Global Starter Feed Market, by Form
Global Starter Feed Market, by Livestock
Rest of the World (RoW)
starter feed market is projected to grow at a 4.08% CAGR between 2019-2024.
starter feed market is predicted to touch USD 24.18 billion by 2024.
North America is projected to lead the starter feed market.
Growing demand for meat & meat products and the commercialization of poultry farming are the key factors driving the starter feed market growth.
High price of starter feed may limit the starter feed market growth.