Market Overview
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.
| Report Coverage | Details |
|---|---|
| Study Period | Historical Data: 2016-219 |
| Base Year: 2020 | |
| Forecast Period: 2021-26 | |
| CAGR (2021-2026) | 3.4% |
| 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.
Market Segmentation
Pellets Segment Accounted for the Largest Market Share
Based on the Form, the market classifies into Pellets, Crumbles, and Mash. Among these segments, Pellets captured a significant share in the Middle East & Africa Animal Feed Market in the previous few years as they are more digestible. Additionally, they are beneficial in providing a well-balanced diet to animals by preventing them from picking & choosing between ingredients, thereby minimizing the waste while eating. Further, pellets feed reduces the formation of dust as it reduces natural losses. Therefore, these factors are likely to drive the overall segment growth, cites MarkNtel Advisors in their research report, “Middle East and Africa Animal Feed Market Analysis, 2021.”
Poultry Segment Dominated the Market
Based on the Livestock, the market segments into Poultry, Ruminant, and Swine Aqua. Among these, Poultry accounted for the largest share in the Middle East & Africa Animal Feed Market in the past few years due to the rising concerns regarding animal health. In addition to this, growing consumer preferences for a specific color of yolk and meat and similarly proportionate intake of meat and eggs has aided the demand for Poultry.
Regional Landscape
Saudi Arabia Attained the Highest Market Share
Saudi Arabia held the largest share in the Middle East & Africa Animal Feed Market in the previous few years. The growth owes to the high consumption rate of animal-based products like chicken in Saudi Arabia. Thus, surging production and consumption tendencies drive market growth. Furthermore, increasing population, surging disposable incomes, and rising demand for quality meat products by the consumers are other prime factors leading to propel the market growth in Saudi Arabia.
Market Driver
Growing Awareness about Animal Wellbeing boost the Market Growth
The mounting trend of owning pet animals and burgeoning expenses on their wellbeing are a few most prominent factors backing the overall market growth. In addition to this, the surging demand for animal protein obtained from milk, eggs, and meats also propels the Animal Feed Market growth in the Middle East & Africa region.
Competitive Landscape
According to MarkNtel Advisors, the major leading players in the Middle East & Africa Animal Feed market are 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, and Novozymes.
Key Questions Answered in the Market Research Report:
Market Outlook, Segmentation, and Statistics
Frequently Asked Questions
A. The Middle East & Africa Animal Feed Market is forecast to grow at a CAGR of 3.4% during 2021-26.
A. 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 are a few of the leading players in the Middle East & Africa Animal Feed Market.
A. The Pellets Form segment is likely to attain the highest CAGR during the forecast period and maintain its significant market share.
A. Saudi Arabia continues to grow at the highest CAGR during 2021-26, thereby presenting immense opportunities to market players of the Middle East & Africa Animal Feed Market.
A. The increased pace of industrial farming, rising awareness regarding the health benefits of eggs, milk, and meat, changing consumer's perceptions toward a healthy diet, and surging cattle farming are the primary factors fueling the market growth.
A. The sudden outbreak of the COVID-19 pandemic negatively impacted the Middle East & Africa Animal Feed Market due to the supply chain & logistic disruptions and the temporary shutdown of production owing to less labor footfall.
