July 20, 2024
Starter Feed Market

The Growing Livestock Industry Is Projected To Boost The Growth Of The Global Starter Feed Market

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 tailor-made for newborn animals to support their growth and development. It is highly digestible, nutrient-rich, and focuses on restoring bone growth and development in the early stages. Starter feed contains highly concentrated levels of proteins, fats, vitamins, minerals, and fiber to support the metabolic activities of newborn animals. It helps to establish good immune function and gut health during early stages of life. Starter feed is widely used for livestock animals like poultry, cattle, swine, and aquaculture.

Market key trends:
One of the key trends in the starter feed market is thegrowing focus on antibiotic-free and natural feed formulations. Consumers are increasingly preferring antibiotic-free animal products, driving demand for natural starter feed ingredients. Many feed manufacturers are introducing novel formulations using probiotics, prebiotics, and organic acids as antibiotics replacers. For instance, Alltech launched an antibiotic-free starter feed containing yeast cell wall extracts and organic acids. Another key trend is the rising demand for specialized formulations tailored for different animal breeds and regional requirements. Leading players are focusing on advanced formulation technologies to enhance nutritional profile and palatability as per animal needs.
Porter’s Analysis

Threat of new entrants: The threat of new entrants is moderate due to requirement of large capital investments and distribution network. However, the market is growing and new players can enter via contract manufacturing or private labels.

Bargaining power of buyers: The bargaining power of buyers is moderate due to presence of many established players and availability of substitutes. Buyers have some influence on prices due to availability of alternatives.

Bargaining power of suppliers: The bargaining power of suppliers is moderate as raw materials are commoditized. However, key raw materials include protein meals, cereals, vitamins and premixes where few large suppliers operate.

Threat of new substitutes: The threat of new substitutes is low as starter feed has limited substitutes. However, complete feed is a potential threat for some applications.

Competitive rivalry: Intense competition exists among key global players to increase market share.

Key Takeaways

The global Starter Feed Market Growth is expected to witness high growth, exhibiting CAGR of 8.0% over the forecast period, due to increasing demand for protein-rich animal feed.

The Asia Pacific region dominated the global starter feed market in 2023 with a share of over 35%, followed by North America and Europe. China and India are the fastest growing starter feed markets in the Asia Pacific region due increasing meat consumption and size of livestock industry.

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. Key players are focusing on expansion in emerging economies through partnerships with local players.

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