May 28, 2024
Starter Feed Market

Starter Feed Market Is Expected To Be Flourished By Adoption Of Precision Nutrition For Increasing Performance Of Livestock.

Starter feed is a type of supplemental highly concentrated feed given to young livestock like calves, lambs or piglets. It provides nutrients to support their early growth and development. Starter feed is customized for each stage of an animal’s life, usually from newborn up to weaning age. It contains proper balance of protein, carbohydrates, fats, vitamins and minerals. Manufacturers formulate it after extensive nutritional research to maximize efficiency. Livestock farmers are adopting precision nutrition approach and customizing feed composition according to genetic potential and health status of their animals. This improves performance parameters like average daily gain and feed conversion ratio leading to higher profits.

The global starter feed market is estimated to be valued at US$ 46.55 billion in 2023 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 Dynamics:

Precision nutrition is a key driver for starter feed market. Livestock producers can boost production metrics by catering specially formulated starter feed tailored to their young animals’ genetic profile and production system. This increases digestibility and absorptivity of nutrients leading to superior growth and well-being. Moreover, advancements in animal genetics have improved their growth potential which starter feed help harness through balanced customized nutrition. Rising demand for animal protein is another driver as it is prompting farmers to leverage tools like precision feeding for optimizing yields from their livestock enterprise.
The report does not include any information related to key players in the given market.

Segment Analysis

The global starter feed market is dominated by the poultry segment, accounting for over 45% share in 2024. Poultry starter feed caters specifically to the nutritional needs of young chicks. It contains higher levels of protein, vitamins, and minerals which aid in early development and growth. The poultry industry has been growing at a rapid pace globally, driving demand for poultry starter feed.

PEST Analysis

Political: Government policies impacting subsidies/trade restrictions on agricultural commodities can influence feed prices and demand. Favorable farming regulations support the industry.
Economic: Growth in meat consumption and rise of organized farming are driving starter feed market growth. However, high feed production costs and price volatility of raw materials pose challenges.
Social: Changing dietary preferences and demand for protein-rich meat products augment the market. However, concerns around antibiotic residue limit certain feed additives.
Technological: Advancements in feed formulations help cater specific nutrient needs better. Precision-farming and nutrition management technologies optimize growth and productivity.

Key Takeaways

The Global Starter Feed Market Size was valued at US$ 46.55 Bn in 2024 and is anticipated to reach US$ 81.12 Bn by 2031, expanding at a CAGR of around 8.2% during the forecast period. Starter feed ensures healthy growth of young animals during their initial developmental stages. Regional analysis

The Asia Pacific market accounted for over 35% share of the global starter feed market in 2024. Countries like China, India, and Indonesia have seen tremendous growth in organized poultry and livestock farming, driving demand.

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. These players are focusing on product innovations and expansions to cater to the evolving starter feed requirements.

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