Canada Animal Feed Market to be Dominated by Fodder Product Type Segment Through 2028
Increasing demand for meat and animal products,
increased awareness regarding quality meat and milk products, and rising
livestock production are the factors driving the Canada animal feed market in the forecast period
2024-2028
According
to TechSci Research report, “Canada
Animal Feed Market- Industry Size, Share, Trends, Opportunity, and Forecast,
2018-2028”, Canada animal feeds
market is anticipated to increase at a substantial rate in the forecast
period. The growing population and rising disposable incomes have led
to an increased demand for animal protein, including meat, milk, and eggs. The
Canadian livestock industry, including dairy, poultry, swine, and beef,
continues to expand. This expansion creates a higher demand for animal feeds to
meet the nutritional requirements of livestock and promote their growth and
productivity. It drives the demand for animal feeds to support the livestock
industry. Apart from this, there is a growing emphasis on animal health and
welfare in Canada. Animal feed plays a crucial role in maintaining animal
health, preventing diseases, and supporting overall well-being. Increased
awareness about the importance of high-quality feed ingredients and balanced
nutrition fuels the demand for premium animal feeds.
The Canadian government provides support and incentives to
the agriculture sector, including livestock production. Policies and
regulations that ensure the safety, quality, and traceability of animal feeds
promote consumer confidence and drive market growth. There is an increasing
focus on sustainable and environmentally friendly practices in agriculture and
livestock production. It includes the use of feed ingredients that have a lower
environmental impact, such as alternative protein sources and reducing feed
waste. The adoption of sustainable practices in animal feeds aligns with
consumer preferences and contributes to Canada animal feeds market growth.
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Canada Animal Feed Market is segmented based on
type, product, and region.
Based on type, the market is categorized into swine animal feed,
poultry animal feed, ruminant feed, aquatic feed, and others. The swine animal
feed segment is expected to
hold the largest market share in the forecast period owing to the high
consumption of pork and pork products in Canada. According
to Statistics Canada, in 2020, the total pork production in Canada was 4.6
million tonnes, up by 1.3% from 2019. Pork exports increased by 8.1% to reach
1.4 million tonnes, mainly to China, Japan, and the United States. To
meet this rising demand, swine farmers need to provide adequate nutrition and
health care to their animals, which boosts the demand for swine animal feed.
Based on the product, the market is categorized into fodder,
forage, and others. The fodder segment is expected to hold the largest
market share in the forecast period because of its high demand from the
livestock sector. Livestock animals, such as cattle, sheep, goats, and horses,
require fodder-type feed to maintain their health and productivity. Fodder-type
feed is more economical and sustainable than other types of feed, such as
concentrates and supplements. Fodder-type feed can be produced locally and
reduces the dependency on imported feed ingredients. Therefore, fodder-type
feed is a key component of the Canada animal feed market.
Major companies operating in the Canada animal feeds market are:
- Alltech. Canada
- Cargill, Incorporated
(Agribrands Purina Canada Inc.)
- Kemin Industries, Inc.
- Archer Daniels Midland
Company
- Hi-Pro Feeds Inc.
- Floradale Feed Mill Limited
- Prorec Inc.
- Nadlex Canada Inc.
- Canadian Organic Feeds Ltd
- Wilfrid Major Ltd.
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“Government policies have a significant impact on the animal
feed market in Canada, influencing the demand for animal feed, the types of
feed ingredients used, and the market structure. The animal feed market is
closely tied to the broader agriculture and livestock industries, and
government policies related to these industries play a critical role in shaping
the market. Government support and incentives for the agriculture sector,
including livestock production, can lead to increased investment and expansion
of the industry, which drives demand for animal feed. Policies and regulations
that ensure the safety, quality, and traceability of animal feed ingredients
promote consumer confidence and drive market growth. In addition, government
policies related to animal health and welfare can impact the animal feed
market. Policies that promote the use of high-quality feed ingredients and
balanced nutrition support animal health, prevent diseases and contribute to
overall well-being. Also, regulations related to the use of antibiotics and
other feed additives impact the animal feed market.” said Mr. Karan Chechi, Research
Director with TechSci Research, a research-based global management consulting
firm.
“Canada Animal Feed Market
By Type (Swine Animal Feed, Poultry Animal Feed, Ruminant Feed, Aquatic Feed,
and Others), By Product (Fodder, Forage, and Others), By Region, Competition,
Forecast and Opportunity, 2028F”, has evaluated the future growth potential of Canada animal feed
market and provides statistics & information on market size, structure, and
future market growth. The report intends to provide cutting-edge market
intelligence and help decision-makers take sound investment decisions. Besides,
the report also identifies and analyzes the emerging trends along with
essential drivers, challenges, and opportunities in Canada animal feed market.”
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