Corn and wheat are considered important protein and energy sources in animal feed. Corn-based feed is a high-energy food that provides animals with essential nutrients such as protein, fats, and carbohydrates. The feed is easily digestible. Corn fibers help reduce the cholesterol level and enhance the digestive health of animals. It is a major source of Vitamin A. Owing to the mentioned benefits, corn-based feed improves meat quality and aids milk production among cows and sheep. The corn and wheat-based feed market report emphasizes the key driving factors such as an increase in demand for livestock products and health benefits of corn and wheat for animal feed.
South & Central America is projected to register the highest CAGR from 2022 to 2030. Brazil is one of the booming markets for pork and poultry meat. With rising meat consumption, livestock farmers are focusing on feeding high-quality and affordable feed to the animals to ensure superior quality meat. This factor drives the demand for corn and wheat-based feed as it supplies the required amount of protein and energy to the livestock animals. With abundant land and favorable climatic conditions, Brazil has become a significant player in global meat production, particularly for poultry and pork products. Brazil is the fourth largest producer of pork in the world, supplying 4.4 million metric tons of high-quality meat (2020), a fifth of which is exported to 70 countries. Also, Brazil is the second-largest chicken meat producer in the world after the US. As the country continues to expand its meat exports and meet the growing demand for protein-rich food in domestic and international markets, the demand for corn and wheat-based feed will most likely upsurge in the coming years. Thus, the significant demand for corn and wheat-based feed in major South & Central American countries is projected to bolster the regional corn and wheat-based feed market growth during the forecast period.
Rising Preference for Organic Feed to Contribute to Growing Corn and Wheat-Based Feed Market Size
Animals who consume organic food offer meat that has high nutritional value. Organic milk and meat are rich in nutrients such as enzymes, bioflavonoids, and antioxidants. Hence, health-conscious consumers prefer organic food and organic meat over conventional food as it does not contain pesticides. Due to the growing demand for organic meat and dairy products, livestock farms, the poultry sector, and animal husbandry have focused on purchasing high-quality organic corn and wheat-based feed to supply organic meat to consumers.
Conventional feed often contains high amounts of chemicals that hamper meat quality when consumed by animals. Long-term consumption of such meat results in various health disorders. To overcome this issue, manufacturers are investing heavily in corn and wheat-based feed products produced with organic constituents. Also, they are developing organic products that contain no chemical additives. Owing to all these factors, the rising preference for organic feed is expected to become an emerging corn and wheat-based feed market trends during the forecast period.
The rising demand for corn and wheat-based feed for aquafeed is expected to provide lucrative opportunities to the corn and wheat-based feed market. The fishery industry is expanding due to changing cultural preferences, improving aquaculture production, and rising demand for fish and seafood. Fish has a high protein content and low cholesterol; therefore, the demand for fish and fish-related products has increased across the globe. Thus, aquaculture production has upsurged to cater to the increasing demand. As per the FAO, global aquaculture production of animal species grew by 2.7% in 2020 compared with 2019. With growing aquaculture, the demand for aquafeed is increasing. Fish meal is the major feed used in the aquaculture segment. Corn gluten meal has recently been used as a plant-based alternative to fishmeal. Corn gluten meal contains a high protein and low fiber content with low anti-nutritional factors (ANF). They are rich in minerals, vitamin B, and vitamin E. Corn gluten meal in shrimp feed significantly enhances digestibility and energy. Thus, the benefits of corn and wheat-based feed for aquatic animals are expected to offer strong potential to the market in the coming years.
Corn and Wheat-Based Feed Market: Segmental Overview
Based on livestock, the corn and wheat-based feed market is segmented into poultry, ruminants, swine, aquaculture, and others. In terms of revenue, the poultry segment held the largest market share in 2022. The aquaculture segment is expected to register the highest CAGR during 2022–2030. Corn and wheat are significantly used in poultry feed due to their high protein content. Corn feed is a rich source of methionine and xanthophyll as well, which enhances the yellow color of the egg yolks. It is highly digestible and a good source of energy in poultry feed. There is a massive demand for poultry, especially chicken, as it is a lean source of animal feed. Therefore, poultry breeders are focusing on the health and well-being of chickens to deliver high-quality meat to consumers. According to the International Feed Industry Federation, poultry feed accounted for 44% of the total animal feed produced globally in 2022. Thus, the rising production of poultry feed propels the demand for corn-based and wheat-based feed.
Corn and Wheat-Based Feed Market: Competitive Landscape and Key Developments
The corn and wheat-based feed market analysis is carried out by identifying and evaluating key players in the market across different regions. Associated British Foods Plc, Jungbunzlauer Suisse AG, Nordfeed, Roquette Freres SA, BENEO GmbH, International Nutritionals Ltd, Interstarch Ukraine LLC, Agrana Beteiligungs AG, Grain St Laurent Inc, and Archer Daniels Midland Company are a few companies profiled in the corn and wheat-based feed market report. Players operating in the market focus on providing high-quality animal feed at affordable prices to fulfill customer demand.
Key Developments
- In June 2022, Archer Daniels Midland Company announced the acquisition of a feed mill in Polomolok, South Cotabato (a province in the Philippines), from South Sunrays Milling Corp. The addition is a step forward to provide numerous leading-edge products to meet demand for high-quality and innovative products in the animal nutrition market in Asia.