The worldwide compound horse feedstuff market is predicted to grow at a CAGR of 4% from US$ 7.88 billion in 2022 to US$ 11.83 billion by the end of 2032.Due to its growing popularity, better palatability, and digestibility, demand for compound horse feed cubes is expected to rise throughout the projected period.
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Demand for compound horse feedstuff is expected to grow at a CAGR of 4% between 2022 and 2032, according to Fact.MR, a market research and competitive intelligence company.
Because of the increased need for nutritious and energetic feed, the animal feed sector is quickly expanding. Horse feed, like other animal feed, has shown consistent market expansion over the last half-decade. Straight feed offered to horses as a source of energy has demonstrated to be insufficient for nutrition. Compound horse feedstuff, on the other hand, made horses more energetic and active. The compound horse feedstuff market is expected to expand significantly over the projected period.
Competitive Landscape:
Key market players have placed their focus on strengthening forward and backward integration to secure a better position in this competitive market.
Manufacturers and suppliers are focusing on longstanding contracts with breeders and trainers to provide better foodstuff in bulk quantity leading to a better profit margin. Thus, the aforementioned strategies by key players are allowing them to create ample opportunity in the compound horse foodstuff business.
For instance :
Renowned compound horse feed manufacturer Allen & Page provides genuine non-GMO horse feed to capitalize on the profitable non-GMO trend.
Key Players:
- Farmvet
- Epol
- Cavalor
- Allen Feeds
- Big V Feeds
- Triple Crown Horse Feeds
- Bailey’s horse feeds
- Nutrena Animal Feeds
- Target Feeds Ltd
- Spillers Horse Feeds
- Omega Fields
- Horse Tech Inc.
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Regional Analysis:
North America is responsible for 28.3% of the worldwide compound horse feedstuff market. The area is well-known in the United States for its horse polo game. Other horse-related hobbies and sports have grown in popularity in the region during the previous few decades.
Because the United States has around one-third of the world’s horse population, there is a considerable need for multifunctional horse feedstuff for professional and athletic horses. Furthermore, the United States hosts five of the top twelve well-known horse races, and the country is recognized for its enormous base of horse racing lovers, which contributes to the strong demand for compound horse feedstuff.
Key Segments of Industry:
- by Form :
- Pellets
- Cubes
- Powder
- by Ingredient :
- Cereals
- Supplements
- Cakes/Meals
- Others
- by Nutrition Type :
- High Fiber
- Low Starch
- High Protein
- High Fats
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