May 25, 2024
Starter Feed Market

Starter Feed Market is Estimated to Witness High Growth Owing to Rising Demand for Protein-Rich Animal Feed

The global starter feed market is primarily driven by the rising demand for protein-rich animal feed. Starter feed helps young livestock and poultry get the right nutrition to develop strong immune systems. The product contains essential nutrients in easily digestible forms to aid early growth. It promotes faster feathering and weight gain in baby chicks as well as improved gut health and uniformity in piglets and calves.

The Global starter feed market is estimated to be valued at US$ 46.55 Bn in 2024 and is expected to exhibit a CAGR of 8.2% over the forecast period 2024 to 2031.

Key Takeaways

Key players operating in the starter feed market are Waters Corporation, PerkinElmer Inc., LabWare Inc., LabVantage Solutions Inc., LabLynx Inc., Thermo Fisher Scientific Inc., Mckesson Corporation, Cerner Corporation, Agilent Technologies, and Abbott Laboratories (Abbott Informatics Corporation), among others.

The starter feed market is expected to witness lucrative opportunities owing to the rising demand for protein-rich animal-sourced food products. Additionally, the growing consumption of meat and poultry across developing nations will further propel the demand for high-quality starter feeds.

Geographically, North America and Europe hold significant shares in the global starter feed industry due to the larger livestock farming in these regions. However, Asia Pacific is expected to exhibit the fastest growth over the forecast period with the growing meat demand from China, India, and various Southeast Asian countries.

Market drivers

The global Starter Feed Market Growth can majorly be attributed to the rising meat consumption worldwide. Developing nations are witnessing rapid urbanization along with increasing disposable incomes. This has augmented the demand for animal proteins such as pork and poultry meat. Starter feeds help boost early growth in livestock, meeting this burgeoning demand. Moreover, with growing health awareness, consumers prefer meat and eggs raised from livestock fed on balanced nutrition. This drives starter feed producers to offer high-quality products enriched with various minerals and vitamins.

PEST Analysis

Political: The starter feed market is influenced by government regulations on use of antibiotics and growth hormones. Stringent regulations may impact manufacturers.

Economic: Rising income levels and rapid urbanization are driving demand for animal proteins. This is positively impacting the starter feed market.

Social: Growing awareness about quality animal products and certified feeds is influencing consumers’ purchase decisions. They prefer feeds that ensure animal welfare.

Technological: Automation in feed mills and use of smart farming practices are helping improve efficiency and precision in feed production. Digital technologies enable remote monitoring of animal health.

The North American region accounts for the largest share of the global starter feed market in terms of value. Increased demand for poultry and pork from food service providers and retail buyers in the US and Canada is driving growth. South Asia is projected to witness the fastest growth during the forecast period. Rapid urbanization coupled with rising disposable incomes is augmenting demand for livestock products in countries like India, Indonesia and Vietnam. This is boosting requirements for high-quality starter feeds to ensure optimum health and productivity of young livestock.

*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it