by Rebecca Sherratt, Features Editor, International Aquafeed
A recent study by Global Market Insights has evaluated the future growth rates of feed ingredients for 2020-2026, following the continued demand for sustainable protein sources as the world’s population continues to rapidly expand. The study certainly suggests that the industry will only continue to evolve and grow and having premier feed ingredients plays a pivotal role in ensuring the optimal health and well being of all animals and humans on the Earth.
A recent study by Global Market Insights has evaluated the future growth rates of feed ingredients for 2020-2026, following the continued demand for sustainable protein sources as the world’s population continues to rapidly expand. The study certainly suggests that the industry will only continue to evolve and grow and having premier feed ingredients plays a pivotal role in ensuring the optimal health and well being of all animals and humans on the Earth.
The animal feed protein ingredients sector was worth US $160.95 billion in 2019 and the Global Market Insights study suggests that this number will skyrocket up to $245.06bn by 2026, a 7.3 percent increase. The study, which cover a total of 20 countries worldwide and focusses upon 41 leading companies in the feed ingredients sector also explores what it estimates will be the biggest challenges and growth drivers for the sector in the next six years.
In Europe, the study suggests that a potential issue within the industry could be keeping up with the demand for protein-rich feed sources, following the mass increase in livestock and fish production. This is a concern that has been plaguing the sector for many moons, but the industry seems to be continuing to handle this relatively well and members of the sector are all taking reasonable and smart steps to cope with the increase in demand. This will also be a major factor for growth.
The study also notes that key growth drivers include Peru’s fast-flourishing aquaculture industry, as well as the renewed emphasis on meat and meat-based products in the Asia-Pacific region (a sector which is expected to exceed $226bn by 2025). On a global scale, pork production has also seen a large increase due to the meat’s high levels of thiamine, selenium, vitamin B-6, niacin, zinc, potassium, phosphorus, riboflavin and protein. Poultry feed is seen to also experience a significant growth, moreso than feed for the aquaculture and livestock sectors.
Read more, HERE.
The Aquaculturists
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