Piglet Feed Market: Overview
Piglet is often defined as the young one of a domestic pig. Pigs are farmed around the world, while their consumption is limited to only some countries. Piglets require a highly nutritious food for their physical growth. Piglets have a weak digestive tract. Therefore, proper care must be taken in feeding the piglets. Piglet feed must contain suitable components which are responsible for their growth such as nutrients, proteins, amino acids, fatty acids, and minerals such as calcium, phosphorous, sodium, chloride, zinc, potassium, and magnesium. Feed quality is a key element in the rearing of piglets. It also lays the foundation for the animal performance and its future growth.
Piglet Feed Market: Dynamics and Trends
The global piglet market is primarily driven by the rising demand for pork across various parts of Asia. Increasing concerns toward the quality improvement of pork is also likely to fuel the market during the forecast period. Increasing innovations in the quality of feed are also leading to expansion of the market.
The Netherlands-based Coppens Animal Feed is the world’s first company to manufacture a piglet feed product that contains insect oil. The company claims that this feed has potential to reduce the bacteria, improve the feed intake, and also prevent diarrhea. These innovative products are impacting the market positively.
Piglet Feed Market: Segmentation
The global piglet feed market has been segmented on the basis of type of feed, feed application, and feeding systems.
In terms of feed, the piglet feed market can be segmented into compound feed and concentrated feed. The compound feed segment is estimated to hold a major share of the market during the forecast period. In the developing economies, the majority of the families which are into are of middle class, are incapable of affording concentrated feed. Thereby, the compound feed segment is expected to have a high market share in the near future.
In terms of application, the piglet feed market can be segmented into 7 to 35 days piglets and 35 to70 days piglets. Increase in precaution related to the digestive tracts of newborn piglets is anticipated to show a positive impact on the piglet feed market.
In terms of feeding systems, the market can be segmented into automatic feeders, sow management, hydromix liquid feeding systems, and others. In terms of feeding systems, the automatic feeders segment is anticipated to account for a prominent share of the market due to the reduction in the effort to feed the piglets. Furthermore, the automatic feeding systems are estimated to take care of the prescribed quantity of the piglet feed based on the type of piglet.
Piglet Feed Market: Geographical Overview
Among all the regions, Asia Pacific (APAC) is anticipated to expand at a high growth rate during the projected period. Rising demand for pork meat drives the demand for pig farming. This, in turn, is projected to fuel the demand for piglet feed between 2017 and 2025. Europe is expected to be in competition with the Asia Pacific (APAC), in terms of CAGR. North America is likely to account for a major share among all regions, as this region is a major consumer of pork, which primarily drives the North America piglet feed market. Moreover, the region has many small-, medium-, and large-scale piglet feed vendors.
Piglet Feed Market: Key players
Key players operating in the global piglet feed market include Cargill, New Hope Group SA, ZhengBang Group, Agravis Raiffeisen AG, DBN Group, Purina Mills, LLC, Anyou Bio-Technology Group Co., Ltd., Coppens Diervoeding, JELU-WERK, and Hi-Pro Feeds LP.