Animal Feed Market

The article discusses the projected increase in the global animal and pet feed market consumption trend, with a forecasted CAGR of +2.1% from 2022 to 2030. The market value is anticipated to reach $1,423.9B by the end of 2030. Consumption decreased in 2022, but showed an average annual rate of growth in previous years. China, India, and Russia are highlighted as the major consumers and producers. Import and export trends are also discussed, with notable fluctuations in prices and volumes over the years.

Market Forecast

Driven by increasing demand for animal and pet feed worldwide, the market is expected to continue an upward consumption trend over the next eight-year period. Market performance is forecast to retain its current trend pattern, expanding with an anticipated CAGR of +2.1% for the period from 2022 to 2030, which is projected to bring the market volume to 1,187M tons by the end of 2030.

In value terms, the market is forecast to increase with an anticipated CAGR of +4.2% for the period from 2022 to 2030, which is projected to bring the market value to $1,423.9B (in nominal prices) by the end of 2030.

Consumption

World Consumption of Animal And Pet Feed

In 2022, consumption of animal and pet feed decreased by -2.1% to 1,006M tons for the first time since 2018, thus ending a three-year rising trend. The total consumption volume increased at an average annual rate of +2.8% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. Global consumption peaked at 1,028M tons in 2021, and then shrank in the following year.

The global animal feed market revenue dropped to $1,023.8B in 2022, declining by -2.6% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). The market value increased at an average annual rate of +3.5% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth appeared the most rapid in 2021 with an increase of 8% against the previous year. As a result, consumption reached the peak level of $1,050.6B, and then declined modestly in the following year.

Consumption By Country

The country with the largest volume of animal feed consumption was China (149M tons), accounting for 15% of total volume. Moreover, animal feed consumption in China exceeded the figures recorded by the second-largest consumer, India (55M tons), threefold. Russia (42M tons) ranked third in terms of total consumption with a 4.2% share.

In China, animal feed consumption expanded at an average annual rate of +3.9% over the period from 2012-2022. In the other countries, the average annual rates were as follows: India (+2.3% per year) and Russia (+7.4% per year).

In value terms, the largest animal feed markets worldwide were China ($155.4B), India ($89.6B) and Japan ($89.3B), with a combined 33% share of the global market. Bangladesh, Russia, Brazil, the United States, Mexico, Indonesia, Nigeria, Spain, Germany and Pakistan lagged somewhat behind, together accounting for a further 23%.

In terms of the main consuming countries, Russia, with a CAGR of +8.1%, recorded the highest growth rate of market size over the period under review, while market for the other global leaders experienced more modest paces of growth.

In 2022, the highest levels of animal feed per capita consumption was registered in Spain (632 kg per person), followed by Russia (294 kg per person), Germany (249 kg per person) and Japan (214 kg per person), while the world average per capita consumption of animal feed was estimated at 128 kg per person.

In Spain, animal feed per capita consumption expanded at an average annual rate of +3.4% over the period from 2012-2022. In the other countries, the average annual rates were as follows: Russia (+7.3% per year) and Germany (+1.2% per year).

Production

World Production of Animal And Pet Feed

In 2022, production of animal and pet feed decreased by -2.1% to 1,006M tons for the first time since 2018, thus ending a three-year rising trend. The total output volume increased at an average annual rate of +2.8% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2020 when the production volume increased by 11%. Over the period under review, global production hit record highs at 1,027M tons in 2021, and then declined slightly in the following year.

In value terms, animal feed production fell to $1,018B in 2022 estimated in export price. The total output value increased at an average annual rate of +3.5% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2021 with an increase of 11% against the previous year. As a result, production reached the peak level of $1,067.4B, and then reduced in the following year.

Production By Country

The country with the largest volume of animal feed production was China (150M tons), comprising approx. 15% of total volume. Moreover, animal feed production in China exceeded the figures recorded by the second-largest producer, India (56M tons), threefold. Russia (42M tons) ranked third in terms of total production with a 4.2% share.

From 2012 to 2022, the average annual rate of growth in terms of volume in China totaled +3.9%. In the other countries, the average annual rates were as follows: India (+2.3% per year) and Russia (+7.6% per year).

Imports

World Imports of Animal And Pet Feed

Global animal feed imports totaled 20M tons in 2022, rising by 2.6% against 2021 figures. The total import volume increased at an average annual rate of +2.1% over the period from 2012 to 2022; the trend pattern remained relatively stable, with only minor fluctuations throughout the analyzed period. The pace of growth appeared the most rapid in 2020 when imports increased by 7.4%. Global imports peaked in 2022 and are likely to continue growth in the near future.

In value terms, animal feed imports stood at $22.3B in 2022. Overall, total imports indicated a tangible expansion from 2012 to 2022: its value increased at an average annual rate of +4.9% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +61.2% against 2016 indices. The pace of growth appeared the most rapid in 2021 when imports increased by 12% against the previous year. Over the period under review, global imports hit record highs in 2022 and are likely to continue growth in years to come.

Imports By Country

The purchases of the three major importers of animal and pet feed, namely the Netherlands, Belgium and Germany, represented more than 0.0% of total import. The following importers - South Korea (784K tons), France (725K tons), Ireland (608K tons), the United States (599K tons), Norway (569K tons), Vietnam (544K tons), Iraq (472K tons), the UK (438K tons), Poland (353K tons) and Indonesia (348K tons) - together made up 27% of total imports.

From 2012 to 2022, the biggest increases were recorded for Norway (with a CAGR of +23.7%), while purchases for the other global leaders experienced more modest paces of growth.

In value terms, the largest animal feed importing markets worldwide were Germany ($1.2B), Belgium ($1.1B) and the Netherlands ($1.1B), with a combined 15% share of global imports. The United States, Norway, France, Vietnam, the UK, Poland, South Korea, Indonesia, Ireland and Iraq lagged somewhat behind, together accounting for a further 25%.

In terms of the main importing countries, Norway, with a CAGR of +22.5%, saw the highest growth rate of the value of imports, over the period under review, while purchases for the other global leaders experienced more modest paces of growth.

Import Prices By Country

In 2022, the average animal feed import price amounted to $1,114 per ton, increasing by 7.3% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +2.7%. The pace of growth was the most pronounced in 2021 when the average import price increased by 9.9%. Global import price peaked in 2022 and is expected to retain growth in years to come.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was the United States ($1,642 per ton), while Iraq ($534 per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Poland (+6.5%), while the other global leaders experienced more modest paces of growth.

Exports

World Exports of Animal And Pet Feed

Global animal feed exports was estimated at 20M tons in 2022, rising by 3.5% compared with the previous year's figure. The total export volume increased at an average annual rate of +1.9% over the period from 2012 to 2022; the trend pattern remained consistent, with somewhat noticeable fluctuations being recorded throughout the analyzed period. The pace of growth was the most pronounced in 2017 when exports increased by 5.4%. Over the period under review, the global exports reached the peak figure in 2022 and are expected to retain growth in the near future.

In value terms, animal feed exports rose markedly to $21.6B in 2022. In general, total exports indicated a pronounced increase from 2012 to 2022: its value increased at an average annual rate of +4.8% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +63.8% against 2015 indices. The pace of growth was the most pronounced in 2021 with an increase of 16%. The global exports peaked in 2022 and are likely to continue growth in years to come.

Exports By Country

In 2022, the Netherlands (3.6M tons), followed by Germany (2.2M tons), Belgium (1.7M tons), the United States (1.2M tons), China (1.2M tons) and France (0.9M tons) represented the major exporters of animal and pet feed, together achieving 54% of total exports. The following exporters - Turkey (708K tons), the UK (519K tons), Spain (516K tons), Italy (427K tons), Austria (387K tons), Malaysia (366K tons) and Hungary (321K tons) - together made up 16% of total exports.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the leading exporting countries, was attained by Italy (with a CAGR of +16.6%), while the other global leaders experienced more modest paces of growth.

In value terms, the largest animal feed supplying countries worldwide were the Netherlands ($3.2B), the United States ($1.9B) and Germany ($1.8B), with a combined 32% share of global exports. China, Belgium, France, the UK, Spain, Italy, Turkey, Austria, Malaysia and Hungary lagged somewhat behind, together comprising a further 38%.

Italy, with a CAGR of +17.9%, recorded the highest rates of growth with regard to the value of exports, in terms of the main exporting countries over the period under review, while shipments for the other global leaders experienced more modest paces of growth.

Export Prices By Country

The average animal feed export price stood at $1,078 per ton in 2022, surging by 5.1% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +2.8%. The most prominent rate of growth was recorded in 2021 an increase of 13%. Over the period under review, the average export prices attained the maximum in 2022 and is expected to retain growth in years to come.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was the UK ($1,568 per ton), while Turkey ($557 per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the United States (+3.9%), while the other global leaders experienced more modest paces of growth.

Source: IndexBox Market Intelligence Platform