Animal Feed Formulation Software Market: Current Analysis and Forecast (2023-2030)
Emphasis on Animal Type (Swine, Poultry, Ruminant, and Aquaculture); Deployment Mode (Cloud-Based and On-Premise Based); End-Users (Feed Producers, Veterinarians, Animal Farmers, and Nutritional Consultants); and Region/Country
The animal feed formulation software market was valued at USD 230 Million and is expected to grow at a strong CAGR of around 7.8% during the forecast period (2023-2030) owing to growing demand for animal based products.
Animal Feed Formulation Software Market Analysis
Animal feed formulation software is a specialized computer program designed to assist in the creation and optimization of dietary formulations for various animal species, such as livestock, poultry, and aquaculture.
The primary objective of this software is to ensure that the dietary requirements of different animal groups are met in the most cost-effective and nutritionally balanced manner. In essence, animal feed formulation software acts as a digital tool that enables nutritionists, feed manufacturers, and livestock producers to formulate feed recipes that fulfill the specific nutritional needs of their animals while considering factors such as ingredient availability, cost, and regulatory requirements.
The rising global population and changing dietary preferences have led to a surge in the demand for animal-based products like meat, dairy, and eggs. This, in turn, has increased the need for efficient and optimized animal feed production to support the growing livestock industry. Furthermore, feed costs account for a significant portion of the total production costs in the livestock industry. Feed formulation software helps optimize feed rations by minimizing feed costs while meeting the specific nutritional requirements of different animal species and production stages. This cost optimization leads to improved profitability for livestock producers and feed manufacturers.
Animal Feed Formulation Software Market Trends
This section discusses the key market trends that are influencing the various segments of the Animal Feed Formulation Software Market as identified by our team of research experts.
Poultry stands out as a predominant segment in terms of revenue generation for animal feed formulation software worldwide
Driven by the need for efficient feed management to optimize nutrition, growth, and overall health of the birds. Poultry farming, including broilers (meat-producing chickens), layers (egg-laying chickens), and turkeys, requires precise formulation and balancing of feed rations to meet the specific dietary requirements of different bird types and production stages. As a result, the demand for animal feed formulation software is particularly high within the poultry sector compared to swine, ruminant, and aquaculture industries. Furthermore, while the swine, ruminant, and aquaculture industries also rely on feed formulation software for developing balanced diets for their respective animals, the poultry sector stands out due to its scale, intensive production systems, and diverse nutritional requirements across different poultry species. The poultry industry’s need for specialized feed formulations tailored to various production phases and bird types contributes significantly to the high demand for animal feed formulation software on a global scale. Thus, in the realm of animal agriculture, the poultry segment emerges as the primary driver of demand for such technological solutions compared to swine, ruminant, and aquaculture sectors.
Asia Pacific is the fastest-growing Animal Feed Formulation Software market worldwide.
Within Asia Pacific, China holds a major share of the market. The major factor boosting the market’s growth in the country’s huge animal product-consuming population.
The Asia Pacific region has witnessed a significant surge in demand for animal-based products, driven by the rising population, increasing disposable incomes, and changing dietary preferences. This surge has necessitated the expansion of animal production facilities, thereby boosting the demand for efficient feed formulation solutions. Furthermore, countries like China and India, with their vast populations and growing economies, have become major contributors to the region’s animal husbandry industry. These nations have witnessed a substantial increase in meat and dairy product consumption, prompting the adoption of advanced feed formulation software to optimize feed costs and nutrient requirements. Additionally, the abundance of feed ingredient sources in the Asia Pacific region, such as agricultural by-products and locally available raw materials, has facilitated the development of cost-effective feed formulations. Feed formulation software aids in leveraging these resources effectively, reducing dependency on imported ingredients and enhancing profitability. Moreover, the rapid urbanization and industrialization in the Asia Pacific region have led to a growing demand for processed and convenient food products, including meat and dairy items. Feed formulation software enables producers to meet these demands by optimizing animal productivity and ensuring consistent product quality.
Animal Feed Formulation Software Industry Overview
The animal feed formulation software market is competitive and fragmented, with the presence of several global and international market players. The key players are adopting different growth strategies to enhance their market presence, such as partnerships, agreements, collaborations, new product launches, geographical expansions, and mergers and acquisitions. Some of the major players operating in the market are DINOVITE.; adifo; Vit-E-Men Company; DATACOR, INC.; Orvalex; A-Systems; Dalma Mangimi; Bio-Serv; Dagel Mangimi Srl; and Fermentrics Technologies Inc.
Animal Feed Formulation Software Market News
- In January 2023, Farmers Business Network (FBN®) collaborated with Boveta Nutrition™ to introduce an exclusive feeding system for beef cattle through FBN Livestock. This system enhances feed efficiency and carcass yield, while also decreasing methane gas emissions and wet waste.
- For instance, in December 2020, The BASF and Adifo, companies operating in the animal feed formulation segment, announced a software partnership. This joint venture aims at optimizing feed formulation for more sustainable animal protein production.
Animal Feed Formulation Software Market Report Coverage
Reasons to buy this report:
- The study includes market sizing and forecasting analysis validated by authenticated key industry experts.
- The report presents a quick review of overall industry performance at one glance.
- The report covers an in-depth analysis of prominent industry peers with a primary focus on key business financials, product portfolios, expansion strategies, and recent developments.
- Detailed examination of drivers, restraints, key trends, and opportunities prevailing in the industry.
- The study comprehensively covers the market across different segments.
- Deep dive regional level analysis of the industry.
Customization Options:
The global Animal Feed Formulation Software market can further be customized as per the requirement or any other market segment. Besides this, UMI understands that you may have your own business needs, hence feel free to contact us to get a report that completely suits your requirements.
Table of Contents
Research Methodology for the Animal Feed Formulation Software Market Analysis (2023-2030)
Analyzing the historical market, estimating the current market, and forecasting the future market of the global Animal Feed Formulation Software market were the three major steps undertaken to create and analyze the adoption of Animal Feed Formulation Software in major regions globally. Exhaustive secondary research was conducted to collect the historical market numbers and estimate the current market size. Secondly, to validate these insights, numerous findings and assumptions were taken into consideration. Moreover, exhaustive primary interviews were also conducted, with industry experts across the value chain of the global Animal Feed Formulation Software market. Post assumption and validation of market numbers through primary interviews, we employed a top-down/bottom-up approach to forecasting the complete market size. Thereafter, market breakdown and data triangulation methods were adopted to estimate and analyze the market size of segments and sub-segments of the industry pertains to. Detailed methodology is explained below:
Analysis of Historical Market Size
Step 1: In-Depth Study of Secondary Sources:
A detailed secondary study was conducted to obtain the historical market size of the Animal Feed Formulation Software market through company internal sources such as annual reports & financial statements, performance presentations, press releases, etc., and external sources including journals, news & articles, government publications, competitor publications, sector reports, third-party database, and other credible publications.
Step 2: Market Segmentation:
After obtaining the historical market size of the Animal Feed Formulation Software market, we conducted a detailed secondary analysis to gather historical market insights and share for different segments & sub-segments for major regions. Major segments are included in the report as animal type, deployment, and end-users. Further country-level analyses were conducted to evaluate the overall adoption of testing models in that region.
Step 3: Factor Analysis:
After acquiring the historical market size of different segments and sub-segments, we conducted a detailed factor analysis to estimate the current market size of the Animal Feed Formulation Software market. Further, we conducted factor analysis using dependent and independent variables such as animal type, deployment, and end-users of the Animal Feed Formulation Software market. A thorough analysis was conducted of demand and supply-side scenarios considering top partnerships, mergers and acquisitions, business expansion, and product launches in the Animal Feed Formulation Software market sector across the globe.
Current Market Size Estimate & Forecast
Current Market Sizing: Based on actionable insights from the above 3 steps, we arrived at the current market size, key players in the global Animal Feed Formulation Software market, and market shares of the segments. All the required percentage shares split and market breakdowns were determined using the above-mentioned secondary approach and were verified through primary interviews.
Estimation & Forecasting: For market estimation and forecast, weights were assigned to different factors including drivers & trends, restraints, and opportunities available for the stakeholders. After analyzing these factors, relevant forecasting techniques i.e., the top-down/bottom-up approach were applied to arrive at the market forecast for 2030 for different segments and sub-segments across the major markets globally. The research methodology adopted to estimate the market size encompasses:
- The industry’s market size, in terms of revenue (USD) and the adoption rate of the Animal Feed Formulation Software market across the major markets domestically
- All percentage shares, splits, and breakdowns of market segments and sub-segments
- Key players in the global Animal Feed Formulation Software market in terms of products offered. Also, the growth strategies adopted by these players to compete in the fast-growing market.
Market Size and Share Validation
Primary Research: In-depth interviews were conducted with the Key Opinion Leaders (KOLs) including Top Level Executives (CXO/VPs, Sales Head, Marketing Head, Operational Head, Regional Head, Country Head, etc.) across major regions. Primary research findings were then summarized, and statistical analysis was performed to prove the stated hypothesis. Inputs from primary research were consolidated with secondary findings, hence turning information into actionable insights.
Split of Primary Participants in Different Regions
Market Engineering
The data triangulation technique was employed to complete the overall market estimation and to arrive at precise statistical numbers for each segment and sub-segment of the global Animal Feed Formulation Software market. data was split into several segments & sub-segments after studying various parameters and trends in the areas of animal type, deployment, and end-users in the global Animal Feed Formulation Software market.
The main objective of the Global Animal Feed Formulation Software Market Study
The current & future market trends of the global Animal Feed Formulation Software market were pinpointed in the study. Investors can gain strategic insights to base their discretion for investments on the qualitative and quantitative analysis performed in the study. Current and future market trends determined the overall attractiveness of the market at a regional level, providing a platform for the industrial participant to exploit the untapped market to benefit from a first-mover advantage. Other quantitative goals of the studies include:
- Analyze the current and forecast market size of the Animal Feed Formulation Software market in terms of value (USD). Also, analyze the current and forecast market size of different segments and sub-segments.
- Segments in the study include areas of animal type, deployment, and end-users.
- Define and analyze the regulatory framework for the Animal Feed Formulation Software
- Analyze the value chain involved with the presence of various intermediaries, along with analyzing customer and competitor behaviors of the industry
- Analyze the current and forecast market size of the Animal Feed Formulation Software market for the major region
- Major countries of regions studied in the report include Asia Pacific, Europe, North America, and the Rest of the World
- Company profiles of the Animal Feed Formulation Software market and the growth strategies adopted by the market players to sustain in the fast-growing market.
- Deep dive regional level analysis of the industry
Frequently Asked Questions FAQs
Q1: What is the current market size and growth potential of the global Animal Feed Formulation Software market?
Q2: What are the driving factors for the growth of the global Animal Feed Formulation Software Market?
Q3: Which segment is the fastest growing of the global Animal Feed Formulation Software market by End-Users?
Q4: What are the emerging technologies and trends in the global Animal Feed Formulation Software market?
Q5: Which region will be the fastest-growing global Animal Feed Formulation Software market?
Q6: Who are the key players in the global Animal Feed Formulation Software market?
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