Starter feed refers to supplementary feed given to young animals such as poultry, pigs etc during their initial growth phase. It contains balanced nutrition level of proteins, vitamins, minerals and amino acids to fulfill their growing nutritional needs. Starter feeds help in proper development of immune system and acceleration of growth rate in young animals.
The global starter feed market is estimated to be valued at US$ 46.55 Bn 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 Opportunity:
Improving farm efficiency through young animal nutrition management presents a key market opportunity in the starter feed market. Starter feeds targeting precise nutritional requirements help young animals gain optimum weight through their initial growth phase at a faster rate. This significantly improves feed conversion rate for farmers. Rapid early growth supported by customized starter feed formulation leads to reduced rearing time and increased annual animal production per farm. As demand for animal protein rises globally, optimizing production efficiency through precise starter feeding presents an attractive opportunity for manufacturers to develop innovative feeds and gain a competitive edge in the market.
Porter’s Analysis
Threat of new entrants: The starter feed market has moderate threat of new entrants due to high capital requirement for manufacturing facilities and distribution channels. Bargaining power of buyers: Buyers have moderate bargaining power due to availability of substitutes in the market. Bargaining power of suppliers: The suppliers have moderate bargaining power due to differentiated nature of raw materials used in manufacturing starter feed. Threat of new substitutes: The threat of substitutes is moderate due to availability of alternatives. Competitive rivalry: The competitive rivalry is high among the existing players due focus on product quality and innovation.
SWOT Analysis
Strength: Variety of products available catering to nutritional needs. Strong distribution and supply chain network globally. Weakness: Fluctuations in raw material prices affect production costs. High R&D investment required for new product development.
Opportunity: Growth in demand from aquaculture and poultry industries especially in Asia Pacific and Middle East and Africa. Adoption of digital technologies for process automation.
Threats: Stringent regulatory standards regarding quality and safety. Threat from substitute products.
Key Takeaways
The Global Starter Feed Market Growth is expected to witness high. The market size for 2024 is US$ 46.55 Bn and is expected to reach over US$ 82.87 Bn by 2031, registering a CAGR of over 8.2% during the forecast period of 2024 to 2031. Regional analysis shows Asia Pacific dominates the market currently owing to the large poultry industry in China and India. It is expected to remain the fastest growing as well as largest market during the forecast period. 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. Key players focus on expanding product portfolio through strategic partnerships and acquisitions.
Regional analysis shows Asia Pacific dominates the starter feed market currently owing to the large poultry industry in China and India. China accounts for over 30% of global poultry production and is the fastest growing market in the region. Growth is supported by rising disposable incomes, livestock farming, and export of poultry products. North America and Europe are other major markets driven by technological advancements and structured regulatory framework regarding animal nutrition. Latin America and Middle East and Africa offer significant growth potential over the forecast period.
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. Key players focus on expanding product portfolio through strategic partnerships and acquisitions. For instance, in 2021, Thermo Fisher Scientific acquired PeproTech for over $1.85 billion to strengthen portfolio of reagents
Explore more information on this topic, Please visit-
