COVID-19 Impact on Feed Market

COVID-19 Impact on Feed Market by Application (Poultry, Swine, and Aquaculture), Ingredient & Additive Type (Amino Acids, Phosphates, Vitamins, Minerals, Commodity Ingredients, Phytogenics, and Probiotics) and Region - Global Forecast to 2021

Report Code: AGI 7623 Apr, 2020, by marketsandmarkets.com

[63 Pages Report] Post COVID-19, the global feed market size is estimated to grow from USD 282.8 billion in 2020 and projected to reach USD 289.0 billion by 2021, recording a CAGR of 2.2%. The increasing awareness about livestock nutrition, modernization of the livestock industry, and the rise in the consumption of meat & other livestock-based products have led to an increase in the market size of feed additives. However, due to COVID-19, feed manufacturers and producers are becoming more aware of techniques and strategies to cope up with the situation. This, in turn, is projected to lead to an increase in demand for feed additives, as the market growth starts stabilizing.

COVID-19 Impact on the Feed Market

Supply chain disruptions and impact on feed production have affected the feed market.

The poultry industry is battling rumors of coronavirus spreading through the consumption of meat and meat products. In some regions, lockdowns have been announced to control the coronavirus pandemic, which has been impacting the movement of vehicles carrying livestock, feed, and feed ingredients. On the other hand, raw material price volatility is a major challenge faced by feed manufacturers worldwide during COVID-19.

Shutdowns are leading to a loss in demand for meat, dairy, and animal products impacting the feed market.

Due to the COVID-19 pandemic, the demand for basic food or essentials has been on the rise. Despite the strong demand for meat, dairy, and aquaculture products amidst the coronavirus pandemic, the supply chain has witnessed a host of disruptions, which are stopping producers from providing their products in the market. For instance, disruptions in the supply chains are causing wastage of fresh produce in the US, even though there are a high demand and food shortage for dairy produce. Due to these factors, the market leader in the dairy industry, the Dairy Farmers of America, had to ask farmers to dump their milk.

The global export for beef and chicken meat trade has been reduced due to the emerging threats from the spread of COVID-19 pandemic. Furthermore, the economic growth in 2020 and the impact on consumers of the pandemic will dampen the demand for animal protein, subsequently affecting the feed market.

Key Market Players

Some of the major players in the feed market are Cargill (US), ADM (US), and BASF (Germany). Cargill  is involved in the manufacturing and marketing of food products, agricultural produce, financial & industrial solutions, and animal nutrition & protein products. The company offers feed ingredients through the animal nutrition business segment. Cargill’s animal nutrition segment provides feed additives through its brand, Promote, for poultry, swine, beef, and dairy products.

As the COVID-19 pandemic spreads across the world, the agriculture industry’s supply chain focuses on keeping employees and consumers safe while still providing vital equipment, services, commodities, feed products, and food products. According to the World Health Organization, Cargill has stopped all the non-essential and international business travels for the coming few weeks, due to which the supply for feed additives & ingredients is projected to decline in the coming years. However, the demand is projected to revive after the third quarter, as the impact of COVID-19 is projected to reduce. Despite various challenges and hindrances faced by the company, Cargill is delivering essential services globally by providing feed and food ingredients.

Scope of the Report

Report Metric

Details

Market size available for years

2020–2021

Base year considered

2019

Forecast period

2020–2021

Forecast units (for the market in terms of value)

USD million, USD billion

Segments covered

Feed additives and geography

Regions covered

US, North America, Europe, APAC, and RoW

Companies covered

ADM , Cargill, and BASF

Animal feed Market Segmentation

  • By Feed Additives Type
    • Amino acids
    • Phosphates
    • Vitamins & minerals
    • Phytogenics
    • Probiotics
    • Commodity ingredients
    • Others (Enzymes and acidifiers)  
  • By Geography
    • US
    • Europe
    • APAC
    • RoW

    Key Questions Addressed by the Report:

    • What is the impact of COVID-19 pandemic on the feed market and its segments?
    • What are the opportunities for feed providers?
    • How much growth is expected from feed manufacturers in the market?
    • Which feed additive type is lucrative as compared to others?
    • Who are the major competitors, and what are their growth strategies?

    To speak to our analyst for a discussion on the above findings, click Speak to Analyst

  • TABLE OF CONTENTS

    1 INTRODUCTION (Page No. - 10)
        1.1 COVID-19 HEALTH ASSESSMENT
        1.2 COVID-19 ECONOMIC ASSESSMENT
               1.2.1 COVID-19 IMPACT ON THE ECONOMY—SCENARIO ASSESSMENT

    2 COVID-19 IMPACT ON FOOD, ANIMAL HEALTH, AND AGRICULTURE (Page No. - 16)
        2.1 INTRODUCTION
        2.2 EFFECT ON GLOBAL MEAT CONSUMPTION
        2.3 EFFECTS ON ANIMAL HEALTH
        2.4 EFFECTS ON FEED CONSUMPTION

    3 COVID-19 IMPACT ON ECOSYSTEM OF FEED INDUSTRY (Page No. - 18)
        3.1 VALUE CHAIN
        3.2 IMPACT ON VALUE CHAIN
               3.2.1 FEED RAW MATERIALS/SUPPLIERS
               3.2.2 FEED FORMULATORS
               3.2.3 DISTRIBUTION AND LOGISTICS
               3.2.4 END-USE INDUSTRY
        3.3 MARKET DYNAMICS
               3.3.1 DRIVERS
                        3.3.1.1 Growing awareness regarding animal health & bio-security
               3.3.2 RESTRAINTS
                        3.3.2.1 Impact on feed production and supply chain
                        3.3.2.2 Impact on demand for meat, dairy, and animal products

    4 GROWTH OPPORTUNITIES IN THE FEED INDUSTRY APPLICATIONS (Page No. - 26)
        4.1 INTRODUCTION
        4.2 SCENARIO-BASED ANALYSIS
        4.3 MOST ATTRACTIVE MARKET - IMPACT & OPPORTUNITIES
               4.3.1 AQUACULTURE
        4.4 WORST-AFFECTED MARKET
               4.4.1 POULTRY
               4.4.2 SWINE

    5 CUSTOMER ANALYSIS (Page No. - 30)
        5.1 INTRODUCTION
        5.2 SHIFT IN THE DAIRY INDUSTRY
               5.2.1 DISRUPTIONS IN THE INDUSTRY
               5.2.2 RISK MITIGATION STRATEGY
               5.2.3 NEW MARKET OPPORTUNITIES
        5.3 SHIFT IN THE MEAT & POULTRY INDUSTRY
               5.3.1 DISRUPTIONS IN THE INDUSTRY
               5.3.2 RISK MITIGATION STRATEGY
               5.3.3 NEW MARKET OPPORTUNITIES
        5.4 SHIFT IN THE SEAFOOD INDUSTRY
               5.4.1 DISRUPTIONS IN THE INDUSTRY
               5.4.2 RISK MITIGATION STRATEGY
               5.4.3 NEW MARKET OPPORTUNITIES

    6 SHORT AND MID-TERM STRATEGY SHIFTS BY FEED ADDITIVE COMPANIES TO MITIGATE COVID-19 IMPACT (Page No. - 33)
        6.1 SHORT AND MID-TERM STRATEGIES
               6.1.1 PRODUCT LEVEL
               6.1.2 APPLICATION LEVEL
        6.2 REGIONAL/GEOGRAPHIC LEVEL
               6.2.1 US
               6.2.2 ASIA PACIFIC
               6.2.3 EUROPE
               6.2.4 ROW
        6.3 WINNING STRATEGIES IN THE INDUSTRY TO GAIN MARKET SHARE
               6.3.1 SHORT TERM
               6.3.2 MID-TERM
               6.3.3 LONG TERM

    7 FEED MARKET: MARKET OUTLOOK DUE TO COVID-19 (Page No. - 37)
        7.1 FEED INGREDIENTS & ADDITIVES
               7.1.1 AMINO ACIDS
               7.1.2 PHOSPHATES
               7.1.3 VITAMINS & MINERALS
               7.1.4 PHYTOGENICS
               7.1.5 PROBIOTICS
               7.1.6 COMMODITY INGREDIENTS
               7.1.7 OTHERS
        7.2 GEOGRAPHY
               7.2.1 INTRODUCTION
               7.2.2 ASIA PACIFIC
                        7.2.2.1 India
                        7.2.2.2 China
               7.2.3 EUROPE
                        7.2.3.1 Italy
                        7.2.3.2 Spain
                        7.2.3.3 UK
                        7.2.3.4 Other European countries
               7.2.4 US
               7.2.5 REST OF WORLD

    8 COMPANY PROFILES (Page No. - 52)
    (Business overview, Impact analysis of COVID-19 pandemic on feed additives and ingredients & Winning strategies)* 
        8.1 CARGILL
        8.2 ADM
        8.3 BASF
    *Details on Business overview, Impact analysis of COVID-19 pandemic on feed additives and ingredients & Winning strategies might not be captured in case of unlisted companies. 

    9 APPENDIX (Page No. - 58)
        9.1 INSIGHTS OF INDUSTRY EXPERTS
        9.2 DISCUSSION GUIDE
        9.3 KNOWLEDGE STORE: MARKETSANDMARKETS’ SUBSCRIPTION PORTAL
        9.4 AUTHOR DETAILS


    LIST OF TABLES (16 Tables)

    TABLE 1 STRATEGIES UNDERTAKEN BY LEADING MANUFACTURERS ON DEALING WITH THE COVID-19 SCENARIO
    TABLE 2 COVID-19 IMPACT ON THE FEED MARKET, BY TYPE, 2019-2021 (USD MILLION)
    TABLE 3 AMINO ACIDS: COVID-19 IMPACT ON THE FEED MARKET, BY REGION, 2019-2021 (USD MILLION)
    TABLE 4 PHOSPHATES: COVID-19 IMPACT ON THE FEED MARKET, BY REGION, 2020-2021 (USD MILLION)
    TABLE 5 VITAMINS & MINERALS: COVID-19 IMPACT ON THE FEED MARKET, BY REGION, 2020-2021 (USD MILLION)
    TABLE 6 PHYTOGENICS: COVID-19 IMPACT ON THE FEED MARKET, BY REGION, 2020-2021 (USD MILLION)
    TABLE 7 PROBIOTICS: COVID-19 IMPACT ON THE FEED MARKET, BY REGION, 2020-2021 (USD MILLION)
    TABLE 8 COMMODITY INGREDIENTS: COVID-19 IMPACT ON THE FEED MARKET, BY REGION, 2020-2021 (USD MILLION)
    TABLE 9 OTHERS: COVID-19 IMPACT ON THE FEED MARKET, BY REGION, 2020-2021 (USD MILLION)
    TABLE 10 COVID-19 IMPACT ON THE FEED MARKET, BY REGION, 2020-2021 (USD MILLION)
    TABLE 11 ASIA PACIFIC: COVID-19 IMPACT ON THE FEED MARKET, BY TYPE, 2020-2021 (USD MILLION)
    TABLE 12 ASIA PACIFIC: COVID-19 IMPACT ON THE FEED MARKET, BY COUNTRY, 2020-2021 (USD MILLION)
    TABLE 13 EUROPE: COVID-19 IMPACT ON THE FEED MARKET, BY COUNTRY, 2020-2021 (USD MILLION)
    TABLE 14 EUROPE: COVID-19 IMPACT ON THE FEED MARKET, BY TYPE, 2020-2021 (USD MILLION)
    TABLE 15 US: COVID-19 IMPACT ON THE FEED MARKET, BY TYPE, 2020-2021 (USD MILLION)
    TABLE 16 REST OF THE WORLD: COVID-19 IMPACT ON THE FEED MARKET, BY TYPE, 2020-2021 (USD MILLION)


    LIST OF FIGURES (16 Figures)

    FIGURE 1 COVID-19 THE GLOBAL PROPAGATION
    FIGURE 2 COVID-19 PROPAGATION: SELECT COUNTRIES
    FIGURE 3 COUNTRIES BEGIN WITH SIMILAR TRAJECTORIES BUT CURVES DEVIATE BASED ON MEASURES TAKEN
    FIGURE 4 REVISED GDP FORECASTS FOR SELECT G20 COUNTRIES IN 2020
    FIGURE 5 CRITERIA IMPACTING THE GLOBAL ECONOMY
    FIGURE 6 SCENARIOS IN TERMS OF RECOVERY OF THE GLOBAL ECONOMY
    FIGURE 7 VALUE CHAIN: FEED ADDITIVES & INGREDIENTS MARKET
    FIGURE 8 FEED ADDITIVES MARKET DYNAMICS
    FIGURE 9 GLOBAL FEED PRODUCTION 2018 (MILLION METRIC TON)
    FIGURE 10 US PRODUCTION AND CONSUMPTION OF MEAT PRODUCTS (MILLION POUND)
    FIGURE 11 PORK PRODUCTION - TOP COUNTRIES SUMMARY (1,000 METRIC TONS, CARCASS WEIGHT EQUIVALENT)
    FIGURE 12 CHICKEN MEAT PRODUCTION - TOP COUNTRIES SUMMARY (1,000 METRIC TONS, READY TO COOK EQUIVALENT)
    FIGURE 13 ELEMENTS OF UNCERTAINTY: FEED ADDITIVES & INGREDIENTS MARKET
    FIGURE 14 COVID-19 IMPACT ON THE FEED MARKET, BY FEED ADDITIVES, 2019-2021 (USD MILLIONS)
    FIGURE 15 COVID-19 IMPACT ON THE ANIMAL FEED MARKET, BY REGION, 2020
    FIGURE 16 ASIA PACIFIC: COVID-19 IMPACT ON THE FEED MARKET, 2020

    The study involved both secondary and primary research processes in estimating the current size of the global feed market. Exhaustive secondary research was done to collect information on the market, the peer markets, the parent market, and the impact of COVID-19. The next step was to validate these findings, assumptions, and sizing with industry experts across the value chain through primary research. Both top-down and bottom-up approaches were employed to estimate the complete market size. After that, market breakdown and data triangulation were used to estimate the market size of segments and subsegments.

    Secondary Research

    In the secondary research process, various secondary sources have been referred to for identifying and collecting information important for this study. Secondary sources include corporate filings (such as annual reports, press releases, investor presentations, and financial statements); trade, business, and professional associations; white papers, feed-based marketing-related journals, and databases. Secondary data has been collected and analyzed to arrive at the overall market size, which has further been validated through primary research. The secondary data has been gathered and analyzed to arrive at the global feed market size, which has further been validated by primary research.

    Primary Research

    In the primary research process, various primary sources from the supply and demand sides have been interviewed to obtain the qualitative and quantitative information relevant to this report. Primary sources from the supply-side include key industry participants, subject matter experts (SMEs), C-level executives of key companies, and consultants from key companies and organizations operating in the feed market.

    Primary research has also been conducted to identify various segmentation types and key players, as well as to analyze the competitive landscape, key market dynamics (drivers, restraints, and opportunities), and major growth strategies adopted by market players. During the market engineering, both top-down and bottom-up approaches have been extensively used, along with several data triangulation methods, to estimate and forecast the market, including the overall market segments and subsegments listed in this report. Extensive qualitative and quantitative analyses have been performed during the complete market engineering process to list the key information/insights throughout the report. Primary data has been collected through questionnaires, e-mails, and telephonic interviews.

    COVID-19 Impact on the Feed Market

    To know about the assumptions considered for the study, download the pdf brochure

    Market Size Estimation

    In the market engineering process, both top-down and bottom-up approaches, along with several data triangulation methods, have been used to estimate and validate the size of the overall feed market and other dependent submarkets listed in this report. Extensive qualitative and quantitative analyses have been performed during market engineering to list key information/insights.

    Major players in the feed market have been identified through primary research and secondary research. This involved studying annual and financial reports of top market players and interviews with industry experts (such as CEOs, vice presidents, directors, and marketing executives) for key insights—both quantitative and qualitative.

    All percentage shares, splits, breakdowns, and COVID-19 impact estimations have been determined using secondary sources and verified through primary sources. All possible parameters that affect the markets covered in this research study have been accounted for, viewed in extensive detail, verified through primary research, and analyzed to obtain the final quantitative and qualitative data. This data has been consolidated and supplemented with detailed inputs and analysis from MarketsandMarkets and presented in the feed market report.

    Data Triangulation

    After arriving at the overall market size through the process explained above, the total feed  market has been split into several segments. To complete the overall market engineering process and arrive at the exact statistics for all the segments, the market breakdown and data triangulation procedures have been employed, wherever applicable. The data has been triangulated by studying various factors and trends from both the demand and supply sides. The market has also been validated using both top-down and bottom-up approaches.

    Study Objectives

    • To define, describe, forecast, and analyze the feed market by feed additives (amino acids, phosphates, vitamins & minerals, phytogenics, probiotics, commodity ingredients, and others) and geography
    • To forecast the market for feed additive segments with regard to four main regions, namely, the US, Europe, Asia Pacific (APAC), and Rest of the World (RoW)
    • To assess the impact of COVID-19 pandemic on each of the above segments and regions
    • To provide detailed information regarding the major factors influencing the growth of the feed market (drivers and restraints)
    • To strategically analyze the micromarkets1 with respect to individual growth trends, prospects, and contributions to the total market
    • To analyze opportunities in the market for various stakeholders by identifying high-growth segments of the feed market
    • To strategically profile the key players and comprehensively analyze the impact of COVID-19 on their respective lines of businesses

    Available Customization

    With the given market data, MarketsandMarkets offers customizations according to a company’s specific needs. The following customization options are available for the animal feed market report.

    • Detailed analysis and profiling of additional market players (up to 5)
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