The Global Animal Feed Market is driven by increasing meat consumption

The global animal feed market has been growing substantially over the past decade. Animal feed refers to food given to domestic animals in the animal husbandry industry. It supplies nutrients to animals and attempts to maximize the animal's growth or production of milk, eggs, wool, or other products. Common animal feed ingredients include grains (corn, wheat, and barley), plant protein meals and cakes derived from soybeans, canola, and cottonseed, roughages such as grass hays and silage, mineral and vitamin supplements, and byproduct feedstuffs from the human food industry. The global animal feed industry is critical for supporting global meat production and the total food system. Various types of animal feed include poultry feed, cattle feed, swine feed, pet food, and aquafeed.

The current geopolitical instability across several regions is impacting the Animal Feed Market growth. The ongoing Russia-Ukraine conflict and sanctions have disrupted global wheat and corn supply chains. Ukraine and Russia are among the largest exporters of wheat, corn, and barley used to produce animal feed. The conflict has led to a sharp rise in grain prices in the international markets. This is negatively impacting the animal feed producers as raw material costs have increased substantially. The producers are forced to raise feed prices to maintain margins. However, increased feed costs might reduce demand from livestock farmers if the high prices are sustained over a long period. 

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