North America Compound Feed Market was worth $119.77 billion in 2021 and estimated to be growing at a CAGR of 1.30%, to reach $127.76 billion by 2026.
The North America Compound Feed Market is developing at a significant rate due to the increase in the livestock population. Compound feed is a combination of raw materials and supplements, sourced from either plants or animals, fed to the livestock orally. Most commonly used raw materials are soybean, corn, barley; wheat and sorghum. Most common additives to form compound feed are, minerals, amino acids, antibiotics and colorants. Compound feed has become an essential part of the globally increasing livestock industry and meat production industry. The end users of the compound feed are poultry, pig, ruminants, fish etc.
Market Drivers and Restraints
The growth of the North America Compound feed market is mainly due to factors such as the growth in the meat consumption and surge in awareness towards meat quality and safety. Increase in consumer awareness about the benefits of organic food and meat led to increase in consumption which in turn lead to an increase in demand for organic feed. The North American governments have imposed a ban on the use of antibiotics as a growth promoter. The ban has led livestock producers in these regions to identify new ways to stimulate production and deliver the same benefits provided by antibiotic growth promoters at an affordable price. Increasing costs of raw materials and operations are the major restraining factors for this market.
Poultry, pork, and cattle are the largest consumers of compound feed in this region, accounting for the major share of the overall compound feed market. Cereals are the most widely used ingredients in compound feed whereas Vitamins are the most widely used additives, accounting for around 25% of the total feed additives market.
The North America market, which has the largest consumer base in the world has been geographically segmented into segmented into US and Canada. The USA leads the market in this region. The poultry segment is emerging as an important livestock segment for the consumption of feed additives, followed by swine and cattle, because of the increase in demand for poultry meat, consumer taste predilections.The U.S. is one of the leading consumers of compound feed in the North American market with a share of nearly 15% of the global compound feed market.
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