Market Overview and Dynamics
The North American animal feed market is projected to grow from US$ 85,635.32 million in 2018 to US$ 118,570.29 million by 2027, at a compound annual growth rate (CAGR) of 3.6%. Key drivers of this growth include an increase in industrial livestock production and a rising demand for protein-rich animal feed. However, the market may face challenges from the implementation of stricter regulations on animal husbandry, which could hinder its expansion.
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Impact of COVID-19 on the North American Animal Feed Market
The COVID-19 pandemic, which began in Wuhan, China, in December 2019, quickly spread globally, severely disrupting industries, including the North American food and beverage sector. The pandemic led to supply chain disruptions, lockdowns, travel restrictions, and business shutdowns. The United States, having the highest number of confirmed COVID-19 cases, experienced significant impacts on its food and beverage industries, directly affecting the animal feed market’s supply chain. Delays in manufacturing, research, and development processes are expected to negatively influence market growth.
Key Market Segments
In terms of market form, the pellets segment is anticipated to capture the largest share by 2027. In 2018, the poultry segment accounted for the largest portion of the animal feed market in North America, leading the market in terms of livestock demand.
Major Sources and Key Companies
Prominent companies involved in the North American animal feed market include Archer Daniels Midland Co., Cargill Inc., Charoen Pokphand Foods Plc., Evonik Industries AG, Land O’Lakes, Inc., New Hope Group Co. Ltd, Nutreco NV, and Perdue Farms, Inc.
Reasons to Buy the Report
- Gain a comprehensive understanding of the North American animal feed market landscape and identify the segments with the highest potential for strong returns.
- Stay ahead of the competition by analyzing the evolving competitive dynamics in the market.
- Strategically plan mergers, acquisitions, and partnerships by targeting the market segments with the greatest sales potential.
- Make informed business decisions through an in-depth analysis of market performance across various segments of the North American animal feed industry.
- Obtain revenue forecasts for the North American animal feed market by segment from 2018 to 2030
North America Animal Feed Strategic Insights
Strategic insights for the North America Animal Feed provides data-driven analysis of the industry landscape, including current trends, key players, and regional nuances. These insights offer actionable recommendations, enabling readers to differentiate themselves from competitors by identifying untapped segments or developing unique value propositions. Leveraging data analytics, these insights help industry players anticipate the market shifts, whether investors, manufacturers, or other stakeholders. A future-oriented perspective is essential, helping stakeholders anticipate market shifts and position themselves for long-term success in this dynamic region. Ultimately, effective strategic insights empower readers to make informed decisions that drive profitability and achieve their business objectives within the market.
North America Animal Feed Report Scope
| Attribute | Details |
| Market Size in 2018 | US$ 85,635.32 Million |
| Market Size by 2027 | US$ 118,570.29 Million |
| Global CAGR (2019 – 2027) | 3.6% |
| Historical Data | 2016-2017 |
| Forecast Period | 2019-2027 |
| Segments Covered | By Form: Pellets, Crumbles, Mash |
| By Livestock: Poultry, Ruminants, Swine, Aquaculture |
| Regions and Countries Covered | North America: US, Canada, Mexico |
| Market Leaders & Key Companies | Archer Daniels Midland Co. |
| Cargill Inc. |
| Charoen Pokphand Foods Plc |
| Evonik Industries AG |
| Land O’Lakes, Inc. |
| New Hope Group Co. Ltd. |
| Nutreco NV |
| Perdue Farms, Inc. |
North America Animal Feed Regional Insights
The geographic scope of the North America Animal Feed refers to the specific areas in which a business operates and competes. Understanding local distinctions, such as diverse consumer preferences (e.g., demand for specific plug types or battery backup durations), varying economic conditions, and regulatory environments, is crucial for tailoring strategies to specific markets. Businesses can expand their reach by identifying underserved areas or adapting their offerings to meet local demands. A clear market focus allows for more effective resource allocation, targeted marketing campaigns, and better positioning against local competitors, ultimately driving growth in those targeted areas.
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Author’s Bio
Akshay
Senior Market Research Expert at Business Market Insights
