Starter feed refers to complete feed or feed supplements formulated specifically for young animals during the early growth phase. Commonly used starter feed includes feed for poultry, cattle, piglets, and aquaculture species. It contains higher levels of proteins, vitamins, and minerals required to meet the nutritional needs of young animals. Growing focus on animal nutrition and health is augmenting the demand for high-quality starter feed premixes that enhance immunity and gut health.
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 6.1% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market Dynamics:
Growth in the starter feed market is primarily driven by increasing demand for feed premixes globally. Premixes offer convenience to livestock farmers as they contain a balanced mix of essential nutrients required for young animals. Their use improves feed efficiency and animal performance. Furthermore, growing awareness regarding gut health and quality protein among farmers is also fueling the sales of specialized starter feed formulations containing prebiotics, probiotics, and amino acids. Another major factor propelling the market growth is the rising consumption of animal protein across regions. As starter feed aids in the proper nourishment and development of young livestock, its demand rises in tandem with the animal production industry.
Segment Analysis
Starter Feed Market is dominated by poultry feed sub segment. Poultry farming contributes significantly to the agricultural sector of developing regions like Asia Pacific and Latin America. Countries like India and China are one of the largest producers and consumers of poultry meat globally. The demand for poultry feed from these countries is driving the growth of the sub segment.
PEST Analysis
Political: Governments of various countries are supporting poultry farming initiatives through subsidies and grants which is positively impacting the starter feed market.
Economic: Rise in disposal income of consumers in developing nations has increased the demand for animal proteins like meat and eggs. This augments the demand for poultry farming and starter feed.
Social: Changing dietary preferences and consumption pattern of consumers favoring proteins like poultry has boosted poultry farming.
Technological: Advancements in feed formulations and processing has improved the nutritional profile and efficiency of starter feed supporting the growth of poultry.
Key Takeaways
The Global Starter Feed Market Growth is expected to witness high. 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 6.1% over the forecast period 2023 to 2030.
Asia Pacific dominates the global starter feed market owing to countries like China and India presence of large poultry industry in the region. It accounts for over 35% of total starter feed consumption worldwide. China and India are the key markets expected to drive the demand owing to expansion of poultry industries and growing consumption of animal proteins. Governments support through grants and subsidies for poultry farming has also boosted market growth.
Key players related content comprises Key players operating in the Starter Feed market are Dell Technologies Inc., HP Inc., Lenovo Group Limited, and Toshiba Corporation. The starter feed market is consolidated in nature with top players accounting for majority share.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
Money Singh is a seasoned content writer with over four years of experience in the market research sector. Her expertise spans various industries, including food and beverages, biotechnology, chemical and materials, defense and aerospace, consumer goods, etc.