Australia Animal Feed Market Research Report, 2027

Australia has the lowest market share in the Asia-Pacific region, with less than 3% market share. The animal feed market is moderately capital-intensive, although significant amounts of capital equipment are required to sustain in the industry. The animal feed industry is highly impacted due to volatile prices of grains, small livestock herd size, and major players reframing their operations during the historic period. Feed demand is highly influenced by seasonal conditions affecting pasture growth, grain prices, and the economies of producing. The weather had an impact on demand fluctuations over the industry statistics. Unlike other agricultural industries, the animal feed production industry benefited from drought conditions as reduced pasture growth increased demand for feed. However, increased destocking by downstream livestock industries during 2019–20 and a significant increase in rainfall in 2020–21 contributed to substantial falls in revenue in those years. Furthermore, the COVID-19 outbreak lowered industry demand due to the subsequent supply chain disruption. According to the research report "Australia Animal Feed Market Overview, 2027" published by Actual Market Research (AMR), it is expected to grow at a CAGR of 3.19% over the forecast period. Cattle are being largely raised in the country, and cattle feed is expected to continue growing at the fastest growth rate of 4.84% during the forecast period. Another prominent demand comes from the aqua feed market. Cereals and bi-products together are expected to grow further to capture over 65% of the market share in the future. Animal feed in the form of cubes, cakes and pellets is in high demand in Australia. Unlike other countries, animal-based feed is comparatively less in demand. As per AEGIC (Australian Export Grains Innovation Centre), the wet Australian harvest resulted in sprouted wheat as a feed for dairy and beef cattle, pigs and poultry. Largely, wheat, sorghum, and barley are fed to broilers. Barley, lupins, and canola meals are fed to dairy cattle. Australia's animal feed market revenue is forecasted to grow in response to favourable movements in global wheat, barley, and other grain prices; rising global meat consumption; and expanding livestock industries in the country. However, industry profitability is projected to suffer, as stronger competitive pressure leads to price discounting. The latest OECD-FAO Agriculture Outlook report forecasts strong growth in world meat consumption over the next decade. Rising meat consumption is projected to boost the industry's performance across a range of environmental and social factors that affect the level of demand for industry products. With increased animal feed production, there will be corresponding demands for animal feed that is high in protein and energy. As poultry meat is eyeing an increasing trend in the country, the demand for animal feed is projected to increase over the forecast period to meet the specific feed requirements. Feed manufacturers are indispensable part that add value to the production and supply chain of Australia’s raw materials to convert them into feed stock. The animal feed industry also provides high-quality feed to hobby farmers, backyard and other leisure livestock owners. The Australian stock feed market is the largest user of the Australian grain crop. Australians' demand for more seafood is compared to earlier years' trend. The consumer demand for seafood changes, resulting in more feed demands from aquaculture, but the demand exceeds its supply. Though the market has the full potential to exponentially rise to meet domestic and international demand, On the other hand, increased poultry consumption has ensured strong downstream demand and boosted industry revenue over the period. Retail poultry prices have declined over the period, while the prices of many substitute products, such as fish and seafood, beef, and lamb, have risen. Consequently, the relatively lower price of poultry in retail outlets has encouraged more consumers to purchase and consume poultry over the past five years. Increasing life expectancy and limited availability of land and water resources for animal feed production and increasing use of these resources for food and ethanol production are increasing the demand for animal feed in the Australian meat industry. In addition, the growing number of slaughterhouses in the country and increasing health awareness are further expected to propel the market's growth opportunities in the coming years. The chicken meat that is produced in Australia is self-sufficient for consumption, while egg consumption has reached 210 eggs per person per year. The Australian pig industry competes with pig meat imports from Canada, Denmark, and the USA. Australia is a significant exporter of dairy products and dairy farms are increasing the number of cows in milk per farm. Australia exports nearly 65% of total beef production to over 100 countries. Australia is the largest exporter of beef and sheep meat in the world. There has been an increasing number of lambs finished on grain to provide more consistent supplies of lamb meat. Australia has a growing aquaculture industry, with species being farmed including salmon, trout, prawns, barramundi, and blue fin tuna. The manufacture of aqua feeds requires high levels of technical knowledge and manufacturing technology that lead to steady growth over the years. Stock feed manufacturers play an essential role in converting basic raw material ingredients into compound finished feed for animals. Feed manufacturers purchase raw material ingredients that comply with minimum quality standards, with each raw material being subject to inspection and testing when received at a milling site. Feed additives are controlled by the Australian Pesticide and Veterinary Medicines Authority (APVMA), with only registered products approved for use by stock feed manufacturers. The significant progress in animal performance has been achieved in part due to the greater nutritional knowledge gained through research in defining the nutrient requirements for modern day genetic stock. However, COVID-19 has caused some problems and changes in the feed industry, like many other industries, and the Australian feed industry is no exception. It had a negative impact due to disruptions in supply chain activities caused by global trade restrictions. A sharp drop in demand for restaurant meals and an increase in demand for grocery store food, combined with certain challenges in reorienting meat supply networks, resulted in a surge in retail meat prices and occasional grocery store stock-outs of specific meat products. Lower demand for cattle and supplies of beef and pork resulted from the drop in demand. Considered in this report: • Geography: Australia • Base year: 2021 • Estimated year: 2022 • Forecast year: 2027 Aspects covered in this report • Australia animal feed market with its value and forecast along with its segments • Various drivers and challenges • On-going trends and developments • Top profiled companies • Strategic recommendation By Ingredients in the report: • Cereals • By-Products • Cakes & Meals • Supplements By Livestock in the report: • Cattle Feeds • Poultry Feeds • Pig Feeds • Aqua Feeds By Form in the report: • Pellet • Mash • Crumbles • Cubes & Cakes By Source in the report: • Animal based • Plant-based The approach of the report: This report consists of a combined approach of primary as well as secondary research. Initially, secondary research was used to get an understanding of the market and listing out the companies that are present in the market. The secondary research consists of third party sources such as press releases, annual report of companies, analysing the government generated reports and databases. After gathering the data from secondary sources primary research was conducted by making telephonic interviews with the leading players about how the market is functioning and then conducted trade calls with dealers and distributors of the market. Post this we have started doing primary calls to consumers by equally segmenting consumers in regional aspects, tier aspects, age group, and gender. Once we have primary data with us we have started verifying the details obtained from secondary sources. Intended audience This report can be useful to industry consultants, manufacturers, suppliers, associations & organizations related to Animal Feed Industry, government bodies and other stakeholders to align their market-centric strategies. In addition to marketing & presentations, it will also increase competitive knowledge about the industry.

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Asia-Pacific dominates the market and is the largest and fastest-growing market in the animal growth promoters industry globally

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