PUNE, India, March 6, 2018 /PRNewswire/ --
The report "Feed Processing Market by Type (Cleaning & Sorting, Grinding, Mixing, Conditioning & Expanding, Dosing & Batching, Pelleting, Extrusion), Mode of Operation, Livestock, Form of Feed, and Region - Global Forecast to 2023", published by MarketsandMarkets™, the market is estimated at USD 21.61 Billion in 2018 and is projected to reach USD 26.62 Billion by 2023, growing at a CAGR of 4.3% during the forecast period. The market is driven by factors such as the rising awareness of feed nutrition and health, technological advancements in the equipment industry, customized services, and increase in the demand for feed around the world.
Browse 71 Tables and 38 Figures spread through 137 Pages and in-depth TOC on "Feed Processing Market - Global Forecast to 2023"
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Pelleting is estimated to be the largest segment, by type, in 2017.
Based on type, the Feed Processing Market has been segmented into cleaning & sorting, grinding, mixing, conditioning & expanding, dosing & batching, pelleting, extrusion, cooling & drying, testing & analysis equipment, and others. The pelleting segment accounted for the largest share in 2017. It is one of the crucial and important processes in feed processing, to mold feed material into the shape of a pellet. The pellet mills segment dominated the pelleting equipment market, owing to the high demand for pellet feed among consumers.
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The poultry segment, by livestock, is estimated to account for the largest share of the Feed Processing Market in 2017.
The poultry segment is estimated to account for the largest share of the global Feed Processing Market in 2017. The poultry industry is the largest and the fastest-growing sector in terms of animal production. The growing concerns about animal health and in the rising awareness of the benefits of feed additives in feedstuffs have led to tremendous growth of the animal feed market. Manufacturers are making significant investments in developing innovative feed equipment technologies for the production of various forms of high quality animal feed.
The automatic segment is estimated to be the largest mode of operation for feed processing in 2017.
The automatic segment accounted for the largest share of the global Feed Processing Market in 2017. Animal feed manufacturers are increasingly using automated systems to control complete production lines. The benefits of automation systems include increased production rate, inventory tracking, increased operator efficiency, and high-speed process monitoring.
The Asia Pacific dominated the Feed Processing Market in 2017.
In 2017, the Asia Pacific led the global market for feed processing. The market for feed processing in the Asia Pacific region is projected to be the largest, globally; one of the factors for this is the increase in economic growth and rapid urbanization. The IMF World Economic Outlook estimated that the two economic giants of the Asia Pacific region-China and Japan-were the world's second- and third-largest economies in 2017, respectively.
This report includes a study of the marketing and development strategies, along with the product portfolios of the leading companies. It includes the profiles of leading companies such as Andritz (Austria), Buhler (Switzerland), Pavan (Italy), Clextral (France), and Muyang (China).
Other players include Bratney (US), Dinnissen (Netherlands), Henan Longchang Machinery (China), BK Allied (India), and Het Feed Machinery (China).
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