DUBLIN--(BUSINESS WIRE)--The "Global Non-GMO Animal Feed Market Outlook 2021: Global Opportunity and Demand Analysis, Market Forecast, 2019-2028" report has been added to ResearchAndMarkets.com's offering.
The non-GMO animal feed market size has the potential to grow by USD 12.55 billion during 2019 2028, and the market's growth momentum will accelerate CAGR 8.5% during the forecast period.
Animal feed is the key component in the food industry. Animal feed makes certain the sustainable production of affordable and safe animal proteins. It plays a vital role in the global food industry.
According to The International Feed Industry Federation (IFIF), annual production of the global animal feed stands at around one billion tons.
Increase in Number of Consumers Opting for Healthy Food Options
The growing demand for non-GMO products is one of the major factors driving the growth of the non-GMO animal feed market. Non-GMO products are a healthier alternative to GM foods. Vendors are trying to earn higher profits by capitalizing on consumers who are ready to pay higher prices for non-GMO products. Similarly, many leading vendors operating in the dairy and meat industry are also switching to non-GMO animal feed products. Manufacturers are focusing on expanding their production capabilities to meet the growing demand for animal feed products; the rising demand for meat products will boost the growth opportunities for vendors.
Soybean segment to Make Crucial Contribution for Growth of Global Non-GMO Animal Feed
Soybean and corn are major animal feed materials. More than half of the yield of these products is used in the manufacture of animal feed. However, a major portion of these crops is produced from GMO methods. Thus, demand for non-GMO animal feed is rising exponentially, yet the non-GMO crop supply is not sufficient to meet the demand for feed.
Furthermore, the complex registration process of non-GMO products in the U.S. and Europe may hamper the overall demand. Also, with higher prices, people may reluctant to buy non-GMO animal feed products and prefer conventional animal food which is readily available in the market at low cost, especially in developing countries where customers highly price sensitive. This is anticipated to hamper the overall demand for non-GMO animal feed during the forecast period.
North America Expected to Hold Major Share of Global Non-GMO Animal Feed Market
The global non-GMO animal feed market can be split across five regions: North America, Europe, Asia Pacific, Latin America, and Middle East &Africa. North America is a leading consumer of non-GMO animal feed, followed by Europe and the Asia Pacific. End-consumers in the U.S. and Europe tend to opt for health-conscious food alternatives.
The rise in demand for non-GMO products, primarily in the U.S. and European countries, supported by high purchasing power and increase in awareness about the ill-effects of GMO products is estimated to drive the non-GMO animal feed market in North America and Europe. Health-conscious consumers in the U.S. are ready to pay extra for non-GMO food products. Thus, suppliers in the U.S. dairy and meat industry are also changing to non-GMO animal feed products. This is the major factor that is anticipated to propel the demand for non-GMO products in North America.
Players to Focus on Non-GMO Animal Feed Market
The global non-GMO animal feed market is fragmented with the presence of large numbers of local and global players. The majority of the animal feed producers/suppliers are getting their products non-GMO project certified owing to increasing consumer awareness and demand for non-GMO animal feed products.
Key players operating in the non-GMO animal feed market include:
- Archer Daniels Midland Company
- Canadian Organic Feeds
- SunOpta
- Texas Natural Feeds
- Zeeland Farm Services, Inc.
- Bunge Ltd.,
- Cereal Docks Spa,
- Ernst Grain & Livestock,
- Hiland Naturals,
- Modesto Milling Inc.
- Sunrise Farms Inc.,
- Texas Natural Feeds,
- Zeeland Farm Services Inc.
Scope of the Report
By product
- Soybean
- Corn
- Others (Forage, etc.)
By Application
- Poultry
- Swine
- Beef
By Region
- North America
- Europe
- Asia Pacific
- Rest Of World
Key Reasons to Purchase this Report
1. It provides a technological development map over time to understand the growth rate of the industry.
2. The report offers a dynamic method to various factors that drive or restrain the growth of the market.
3. It renders a definite analysis for changing competitive dynamics.
4. It builds a seven-year estimate based on how the market is predicted to grow.
For more information about this report visit https://www.researchandmarkets.com/r/rqgn95
