February 22, 2024
Starter Feed Market

The Global Starter Feed Market Driven By Increasing Demand For Nutritious Animal Feed

The starter feed market comprises feed products that are specially formulated to provide nutrition during the early growth stage of animals. Starter feeds are given to young animals like pigs, poultry, and cattle within their initial 3-4 weeks of birth. These feeds are rich in protein, essential vitamins, and minerals to support rapid growth and development. As animal protein demand rises globally due to the growing global population, farmers are under pressure to increase productivity and wean time of calves, piglets, and chicks. Starter feeds aid in meeting this objective by promoting better feed intake and digestion in young animals.

The global starter feed market is estimated to be valued at US$ 46.55 billion in 2024 and is expected to exhibit a CAGR of 8.2% over the forecast period 2024 to 2031, as highlighted in a new report published by Coherent Market Insights.

Market key trends:

One of the major trends prevailing in the starter feed market is the growing demand for medicated starter feeds. Medicated feeds contain growth-promoting antibiotics and coccidiostats that enhance the health status of young livestock. Antibiotics are commonly added to provide disease resistance while coccidiostats prevent coccidiosis – a parasitic infection affecting poultry. While concerns prevail regarding antibiotic resistance, producers continue relying on such products to minimize mortality rates during the initial weeks. Manufacturers are innovating feed formulations to improve nutrient absorption for higher returns on investment for farmers. Novel delivery systems such as pellets and crumbles that offer convenience of feeding are gaining favor against mash-type feeds.

Porter’s Analysis

Threat of new entrants: The threat of new entrants is moderate as the starter feed market requires high initial capital investments for R&D, production facilities, and distribution networks. However, market growth provides opportunities for newplayers.

Bargaining power of buyers: The bargaining power of buyers is high due to the presence of many regional players providing quality feed products at competitive prices. Buyers can easily switch between brands.

Bargaining power of suppliers: Major raw material suppliers have moderate bargaining power due to standard availability of raw materials such as maize, wheat, soybean meal, and fish/poultry byproducts. Suppliers are dependent on feed producers for consistent demand.

Threat of new substitutes: The threat of substitutes is low as starter feeds are specialized nutrition products developed using latest R&D and formulation techniques to optimize growth of young livestock and poultry.

Competitive rivalry: The market is moderately competitive with top global players. Players compete on factors like product quality, innovation, distribution networks, and brand reputation.

Key Takeaways

The Global Starter Feed Market Demand is expected to witness high growth. Regional analysis: The APAC region dominates the market currently due to rising animal protein consumption and growth in organized poultry and livestock farming. China, India and Southeast Asian countries are major markets.

Key players: Key players operating in the starter feed market are Waters Corporation, PerkinElmer Inc., LabWare Inc., LabVantage Solutions Inc., LabLynx Inc., Thermo Fisher Scientific Inc., Mckesson Corporation, Cerner Corporation, Agilent Technologies, and Abbott Laboratories (Abbott Informatics Corporation), among others.

The global starter feed market size for 2024 is US$ 46.55 Bn. Innovation and R&D for specialized formulations to aid early growth of young animals and achieve better productivity are growth drivers. Regional expansions, mergers and acquisitions are common strategies adopted by key players.

*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it