by The global Starter Feed Market is estimated to be valued at US$ 40.4 Mn in 2023 and is expected to exhibit a CAGR of 8.0% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market Overview:
Starter feed is a specially formulated diet fed to young poultry chicks and poults to encourage early growth. Starter feed provides optimum nutrition to young birds. It is high in protein and low in fiber to meet the requirements of chicks and poults during their initial growth phase.
Market key trends:
One of the key trends in the starter feed market is the rising demand for antibiotic-free and natural starter feed. Conventional starter feed contained antibiotics as growth promoters. However, growing consumer concerns about antibiotic residues in meat and emergence of antibiotic-resistant bacteria has prompted feed manufacturers to develop antibiotic-free and natural starter feed alternatives. These alternative starter feeds contain probiotics, prebiotics, organic acids, phytogenics, and essential oils to aid digestion and promote growth without using antibiotics. They are gaining increasing popularity among poultry farmers and feed producers.
SWOT Analysis
Strength: Starter feed contains essential nutrients to help poultry and livestock thrive during early stages of development. It boosts immunity and promotes overall health of young animals.
Weakness: Certain starter feeds contain antibiotics and growth hormones that may pose long term health risks if consumed regularly over long periods. High costs associated with R&D of specialized feeds also increase product costs.
Opportunity: Growing demand for animal protein has increased scope for poultry and livestock farming globally. This favors expansion of starter feed market to support burgeoning production activities.
Threats: Stringent regulations imposed on antibiotic and hormone usage in feeds may restrict product offerings. Switch to organic and natural farming poses challenge to conventional starter feed makers.
Key Takeaways
The global Starter Feed Market is expected to witness high growth, exhibiting CAGR of 8.0% over the forecast period, due to increasing consumption of animal proteins across major world economies.
Regional analysis: North America dominates the global starter feed market currently owing to large scale poultry and livestock farming activities in the region. Asia Pacific is expected to exhibit fastest growth in demand for starter feeds through 2030 with China, India and Southeast Asian countries emerging as key markets.
Key players operating in the starter feed market are Purina Mills LLC, Nutreco N.V., Roquette Freres S.A., Evonik Industries A G, Charoen Pokphand Foods PLC, Alltech Inc., Associated British Foods Plc., Koninklijke DSM NV, BASF SE, ACI Godrej Agrovet Private Limited. Purina Mills LLC and Nutreco N.V. collectively hold over 30% share of global revenue.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
