Portland, NO, January 14, 2021 (GLOBE NEWSWIRE) – According to a report published by Allied Market Research, the universe pig feed market generated $ 100.2 billion in 2019, and is expected to generate $ 121.2 billion by 2027, seeing a CAGR of 3.5% from 2021 to 2027. The report provides an analysis of drivers & opportunities, key segments, winning strategies, large investment pockets, value chain, and competitive landscape.
Product innovation and an increase in pork consumption worldwide will drive the growth of the global pork feed market. However, rising worldwide acceptance of veganism is hindering the growth of the market. On the other hand, increasing demand for organic food worldwide and investments in R&D activities are creating new opportunities in the coming years.
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Covid-19 setting:
- Demand for pork in commercial establishments decreased significantly, and as a result, consumption of pork through these establishments decreased. Therefore, the volume of pig feed sales also decreased.
- The output functions were suspended due to locking. The supply chain was also disrupted. Investments in new projects have been locked away and new performances have been postponed.
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The report offers a detailed segmentation of the global pig feed market based on product type, shape, nature and region.
Depending on product type, it was the grower’s piece that accounted for the largest share of the market, accounting for nearly two-fifths of the market share in 2019, and will maintain its prime position during the expected time. However, the starting segment is expected to show the fastest CAGR of 4.6% from 2021 to 2027.
Based on nature, the mainstream sector contributed the highest share in 2019, holding nearly two-thirds of the world’s pig feed market, and its key position in terms of income is expected to be seen. by 2027. However, the organic sector would show the highest CAGR of 4.1% from 2021 to 2027.
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Region-based, Asia-Pacific contributed the highest share of the market in 2019, accounting for more than half of the total market, and will maintain the lead for the foreseeable future. However, North America is expected to grow at the highest CAGR of 5.8% during the forecast period.
Key players of the global pig feed market examined in the research include Purina Mills LLC, Cargill Inc., Archer Daniel Midland Company, Lallemand Inc., BASF SE, Charoen Pokphand Foods, Kent Corporation, Kreamer Feed Inc., Keystone Mills, and Alltech.
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Allied Market Research (AMR) is a full-service market research and consulting firm of Allied Analytics LLP based in Portland, Oregon. Allied Market Research brings unparalleled initiatives to global as well as medium and small enterprises of “Market Intelligence Reports” and “Business Intelligence Solutions.” AMR has a focused vision to provide business insights and consulting to help clients make strategic business decisions and achieve sustainable growth in their respective market area.
We are in professional corporate relationships with various companies and this helps us in digging up market data which helps us to generate accurate research data records and confirm real error in our market forecasting. . All data presented in the reports we have published is extracted through primary interviews with senior officials from relevant major land companies. Our secondary data provisioning approach involves in-depth online and offline research and discussion with knowledgeable professionals and industry analysts.
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