The market for starter feed is projected to reach USD 29.15 Billion by 2022, growing at a CAGR of around 4.57% from 2016. The global starter feed market has grown exponentially in the last few years. The need to increase livestock production to cater to the rise in demand for animal-sourced products and the adoption of precision nutrition techniques are the major drivers for the market.
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Target Audience:
The key stakeholders for the report are as follows:
- Starter feed manufacturers
- Starter feed importers and exporters
- Government regulatory authorities and research organizations
- Starter feed industry bodies
On the basis of type, the global market is segmented into medicated and non-medicated. The medicated was the larger segment in 2015. The medicated starter feed segment is also projected to grow at a comparatively higher CAGR during forecast period.
The starter feed for poultry is a balanced nutritional formulation and helps the poultry population during initial growth stage to get accustomed to solid diet. It also contains coccidiostat, which helps in the treatment of coccidiosis in young chicks.
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The inclusion of oats in starter feed, on the basis of ingredient, is projected to grow at a significant rate during the forecast period. Oats are easier to feed to animals than other cereals; they are mainly used in poultry feed of their high fiber and beta-glucan content. This is to drive the oats segment during the forecast period.
The Asia-Pacific market is projected to grow at the highest CAGR during the forecast period. The region is heterogeneous, with diversity in income levels, technology, and demands of the end consumers to provide better-quality feed to livestock, leading to enhanced scope for future growth. South Korea and Malaysia are mature and stable markets and use modern techniques for production.
The major restraints of the starter feed market are the stagnation in livestock production in developed economies. The starter feed market has a number of large- and small-scale firms. Investments and divestments were the key strategies adopted by market players to ensure their growth. Major players in the market include Cargill, Incorporated (U.S.), BASF SE (Germany), Archer Daniels Midland Company (U.S.), Evonik Industries AG (Germany), and Koninklijke DSM NV (Netherlands).
