Animal Feed is the food given to domestic animals while caring and managing them to enhance their health and quickly speed their growth to yield more profit.
According to MarkNtel Advisors’ research report, “Middle East & Africa Animal Feed Market Analysis, 2021,” the market is likely to witness around 3.4% CAGR during 2021-26. It owes to the increased pace of industrial farming due to the health benefits of eggs, milk, and meat and changing consumers' perceptions toward a healthy diet. Further, surging propensity toward meat and dairy products and increased cattle farming also presents lucrative opportunities to accelerate demand for animal feed, thereby propelling the growth of the Animal Feed Market across the Middle East & Africa region.
|Study Period||Historical Data: 2016-219|
|Base Year: 2020|
|Forecast Period: 2021-26|
|Countries Covered||Middle East & Africa: UAE, Saudi Arabia, South Africa, Oman, Jordan, Turkey, Nigeria, Egypt|
|Key Companies Profiled||Archer Daniel Midland Co., Cargill Inc., Evonik Industries AG, New Hope Group Co. Ltd, Nutreco NV, Perdue Farms Inc, DSM Nutritional Products, Du Pont, BASF, Novozymes|
|Unit Denominations||USD Million/Billion|
Impact of COVID-19
The lockdown, travel restrictions, and business shutdowns imposed by the government have adversely affected various industries across different countries. The Middle East & Africa Animal Feed Market also witnessed a negative impact on its growth rate. The feed processing industry is one of the most adversely impacted industries due to the severe consequences of the COVID-19 pandemic that caused supply chain & logistic disruptions and the temporary shutdown of production owing to less labor footfall.