The novel coronavirus lockdown has
negatively impacted the global animal feed market in 2020. Due to COVID-19
outbreak, meat production industry has significantly affected because rumors of
COVID-19 may spread through the consumption of animal based foods such as meat
products and their derivatives, which is indirectly hampering the animal feed
products demand. This factor is negatively affecting the growth of the market
in the time of emergency period. Also, the demand for meat and poultry products
is significantly decreased due to disturbance in the supply chains and labor
shortages are further expected to hinder the market growth in the pandemic
period. However, many governments are executing various initiatives to recover
from this situation during the COVID-19 emergency. For example, in recent
times, government of Canada has increased credit for fishers, aquaculture and
agriculture to support the businesses in the lockdown period. Also, government
has enabled additional credit of $5 billion to agribusinesses, producers and
food processors. This scheme will support the farmers and meat producers who
are facing cash flow issues and impacted by lost sales.
During
this unpredicted situation, we are helping market players in understanding the
impact of COVID19 on the animal feed market.
Our
report includes:
·
Technological Impact
·
Social Impact
·
Investment Opportunity Analysis
·
Pre- & Post-COVID Market Scenario
·
Infrastructure Analysis
·
Supply Side & Demand Side Impact
According to
study conducted by Research Dive, the global animal feed
market is anticipated to account
for $51.9 million till 2027 and is estimated to experience a significant growth
in the forecast period from 2019-2027.
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Sample Copy and know How Glass wool type has dominant market share @ https://www.researchdive.com/request-toc-and-sample/97
The global
market segmentation is done on the basis of product and region. This
report offers complete insights about drivers, opportunities, restraints,
segmentation and significant manufacturers in the global market.
Factors affecting the market growth
According to our analysts, growing demand for
animal origin products and improved meat quality as well as production are the
major driving factors for the growth of the animal feed market. However, stringent
government regulations on the approval of animal based products is expected to
limit the growth of the market.
Check out
How COVID-19 impact on the Animal Feed Market.
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Glass wool type has dominant market share
Based on product, the global market
has been done into swine, poultry, aquaculture, ruminant and others. Among
these, poultry segment accounted for majority of the animal feed market share
in the previous years and is estimated to continue its growth in the forecast
period. Increasing utilization of animal feed products for poultry livestock to
improve the immunity power of birds due to occurrence of diseases like bird flu
and growing demand for poultry products. These factors are estimated to drive
the market growth in the forecast years. Besides poultry, aquaculture segment
will experience a remarkable growth and is expected to rise at a faster rate
during the forecast years. This expected rise is majorly due to increasing
consumption of aquatic products as well as farmers are replacing the
traditional feed products with special micronutrients to improve health and
production.
Animal feed market, Regional insights
The animal feed market for Europe
region accounted for second highest revenue share and is projected to remain
its growth in the forecast years. This dominance is attributed to presence of
significant manufacturers in the Europe region as well as surge in the
production of animal origin products due to increasing demand from consumers. Asia-Pacific
region generated for largest market share in the global market in terms of
revenue share and is expected to occupy prime position in the global market
during the forecast years. Asia-Pacific region dominated the global market due
to existence of major meat producers as well as growing meat consumers are
driving the demand for animal feed products to increase production, which will
drive market growth in the forecast time.
Significant manufacturers in the animal feed market
The significant manufacturers in the
global animal feed market include Evonik
Industries AG, SHV Holdings N.V., ADM, Nutreco N.V., Land O'Lakes, Inc.,
Cargill Inc., Archer Daniels Midland, Perdue Farms, Inc., FoodSafe Technologies
and Novozymes.
About Us:
Research Dive is a market research firm based in
Pune, India. Maintaining the integrity and authenticity of the services, the
firm provides the services that are solely based on its exclusive data model,
compelled by the 360-degree research methodology, which guarantees
comprehensive and accurate analysis. With unprecedented access to several paid
data resources, team of expert researchers, and strict work ethic, the firm
offers insights that are extremely precise and reliable. Scrutinizing relevant
news releases, government publications, decades of trade data, and technical
& white papers, Research dive deliver the required services to its clients
well within the required timeframe. Its expertise is focused on examining niche
markets, targeting its major driving factors, and spotting threatening
hindrances. Complementarily, it also has a seamless collaboration with the
major industry aficionado that further offers its research an edge.
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Research Dive
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