Changes in Meat Consumption Boost Animal Feed Ingredients Market in North America, Finds Frost & Sullivan
16 Oct, 2012, 12:47 BST
-- End users place increasing emphasis on natural ingredients that minimize effect on the environment
MOUNTAIN VIEW, California, Oct. 16, 2012 /PRNewswire/ -- Higher incomes and the rapid rise of the middle class around the globe will double food consumption in the coming years. Currently, though, the United States is the world's top poultry meat-consuming country, with red meat losing ground to chicken and pork. The rise in food affordability and shift in meat-eating habits will drive the use of animal feeds in each segment, spurring higher production of effective products to meet the growing demand.
New analysis from Frost & Sullivan (http://www.food.frost.com), Strategic Analysis of the Animal Feed Ingredients Market in North America, finds that the market earned revenues of over $5.30 billion in 2011 and estimates this to reach $7.98 billion in 2018.
If you are interested in more information on this research, please send an email to Jeannette Garcia, Corporate Communications, at jeannette.garcia@frost.com, with your full name, company name, title, telephone number, company email address, company website, city, state and country.
Feeds for swine and poultry utilize animal feed ingredients to a large extent. The popularity of these meats drives manufacturers to produce feed in greater volumes for these segments than other animal food.
"The production of compound feed, where the main ingredients are grains, has been on a decline since 2008," said Frost & Sullivan Industry Analyst Anjaneya Reddy. "The dim economic outlook has curbed the capacity expansion plans of feed manufacturers and affected compound feed production."
Further, the rapidly growing biofuel industry is competing for the arable land needed for feed ingredient cultivation. If the demand for biofuel continues to escalate, there will be a severe struggle for cultivable land.
In addition, farmers are anxious to save their shrinking margins by focusing on increasing productivity from farming systems. They are more inclined to use feed ingredients with high efficacy that will make up for the reduction in quantity.
Many industry experts have also raised concerns on the effect of animal greenhouse gas (GHG) emissions, driving the need for natural alternatives to synthetic products.
"Several companies now offer nutritional products with natural ingredients, such as enzymes, that have high bioavailability and reduce GHG emissions," noted Reddy. "Focused marketing on the benefits of such products will lead to greater awareness among end users."
Proactive campaigns based on the safe image of feed ingredients will drive revenues for companies, creating a high-potential and high-growth market.
Strategic Analysis of the Animal Feed Ingredients Market in North America is part of the Food and Beverage Ingredients Growth Partnership Services program, which also includes research in the following markets: Strategic Analysis of the European Animal Feed Ingredients Market, Analysis of Asia-Pacific Animal Feed Ingredients Market. All research services included in subscriptions provide detailed market opportunities and industry trends that have been evaluated following extensive interviews with market participants.
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Strategic Analysis of the Animal Feed Ingredients Market in North America
NAFA-88
Contact:
Jeannette Garcia
Corporate Communications – North America
P: +1-210-477-8427
E: jeannette.garcia@frost.com
SOURCE Frost & Sullivan