by The starter feed market consists of feed products that are formulated to meet the nutritional requirements of young animals in their early growth stages. Starter feeds aim to provide balanced nutrition that supports proper immune system development and metabolism. They contain higher levels of proteins, vitamins, and minerals compared to grower or finisher animal feeds. Crude protein content in starter feed formulations typically ranges between 18-24%. These feeds aid the efficient transition of young animals from a milk-based diet to dry feed and facilitate their healthy growth into production.
The global Starter Feed market is estimated to be valued at US$ 40.4 Mn in 2023 and is expected to exhibit a CAGR of 6.1% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market Key Trends:
The growing meat consumption worldwide has led to a surge in demand for animal protein. This has prompted livestock farmers to focus on optimizing animal health and productivity. Starter feeds play a vital role in supporting the early growth of young animals and setting them on the right track to reach market weights. They help improve feed conversion efficiency and mortality rates. Additionally, rising awareness about the role of balanced nutrition in animal welfare is propelling the adoption of specialized starter feeds designed to meet age-specific dietary needs. Leading manufacturers are also employing advanced formulation techniques to enhance the nutritional density and palatability of their starter feed products. This is fueling healthy growth in the global starter feed market.
Porter’s Analysis
Threat of new entrants: The threat of new entrants is low in the starter feed market due to high capital requirements and technological expertise needed to operate.
Bargaining power of buyers: The bargaining power of buyers is high due to the availability of a variety of starter feed options available from various manufacturers.
Bargaining power of suppliers: The bargaining power of suppliers is low due to the availability of substitutes.
Threat of new substitutes: The threat of new substitutes is medium as manufacturers are constantly innovating and introducing new products.
Competitive rivalry: Competition in the starter feed market is high.
Key Takeaways
The Global Starter Feed Market Demand is expected to witness high growth. The market size is projected to reach US$ 63.1 Mn by 2030, expanding at a CAGR of 6.1% during the forecast period.
North America is expected to dominate the global starter feed market owing to the advanced livestock industry and well-established players in the region. Asia Pacific is projected to be the fastest growing market for starter feed during the forecast period. This can be attributed to the increasing demand for animal-based products and growing meat consumption in countries such as China and India.
Key players: Key players operating in the starter feed market are Dell Technologies Inc., HP Inc., Lenovo Group Limited, and Toshiba Corporation. Dell Technologies Inc. is one of the leading companies in the starter feed market with a wide range of products for various applications.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
