August 08, 2023 07:42 ET | Source: Fortune Business Insights Fortune Business Insights
Pune, India, Aug. 08, 2023 (GLOBE NEWSWIRE) -- The global feed mixer market size was valued at USD 0.72 billion in 2022. The market is anticipated to expand from USD 0.74 billion in 2023 to USD 0.96 billion by 2030, exhibiting a CAGR of 3.8% over the forecast period. The rise is due to the surging nutritional feedstuffs across the animal and livestock sector. An additional factor favoring industry expansion is the increasing livestock population. This information is provided by Fortune Business Insights™ in its research report, titled “Feed Mixer Market, 2023-2030”. Rotating Ring Die Pellet Machine
April 2022 – BVL refurbished their diet feeder machine suite. Under the move, the company added automatic feed mixing and creep speed solution to promote animal health and welfare.
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Industry Share to Surge Propelled by Growing Demand for Nutritious Feedstuffs
The pandemic period recorded an increase in the demand for nutritious feedstuffs across various regions. This was on account of the constant endeavor of regulatory bodies to provide nutritive feed products for livestock and companion animals and the animal husbandry sector. This propelled industry expansion to a considerable extent.
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Industry Value Boosted by Soaring Demand for Nutritional Feedstuff
One of the vital factors propelling feed mixer market growth is the escalating demand for nutritional feedstuff across the livestock sector. The deployment of a feed mixing system helps to furnish the right amount of nutritional feed. However, the industry growth could be impacted by the surging requirement of skilled operators for dealing with the feed mixing process.
The report provides comprehensive coverage of the vital trends impelling industry expansion over the forecast period. It further offers a brief account of the significant steps undertaken by major market players for strengthening the positions of their businesses. Additional factors include acquisitions, merger agreements, and the rollout of new solutions.
Vertical Segment to Grow at Considerable Pace Driven by Surging Demand
On the basis of product type, the market is fragmented into horizontal and vertical. Of these, the vertical segment is expected to dominate the market over the forecast period. This is on account of rising availability in the form of small-trailer-mounted mixers and large-sized trailer-mounted mixers.
Self-propelled Mixer to Depict Substantial Expansion Owing to Various Benefits
By portability, the market is subdivided into stationary, pull, and self-propelled. The self-propelled mixer segment is anticipated to grow at a CAGR of 4.3% over the estimated period. The surge is due to the efforts of key players associated with the introduction of new products on the market.
10-20 ^3 M Segment to Exhibit Substantial Growth Impelled by Soaring Demand from Feed Factory
Based on capacity, the market is categorized into < 10^3 M, 10-20^3 M, and >20^3 M. Of these, the 10-20^3 M segment is estimated to dominate the market over the study period. This is due to the growing adoption of big data for real-time monitoring by farmers.
Feed Factory Segment to Lead the Market Driven by Surging Demand for Nutritional Feed
On the basis of application, the market is subdivided into feed factory and farms. The feed factory segment is expected to dominate the market over the forecast period. The escalation is due to the growing product demand for poultry and livestock.
By geography, the market for feed mixers is fragmented into North America, Asia Pacific, Europe, Latin America, and the Middle East & Africa.
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North America to Dominate Owing to the Presence of Key Players
North America feed mixer market share is slated to depict lucrative expansion over the forecast period. The surge can be credited to the presence of major players in the region and increasing technological advancements.
Europe accounts for the second largest share in the market and is expected to register substantial growth over the estimated period. The rise is due to the presence of major players across countries including Italy, Norway, and Denmark.
The Asia Pacific market for feed mixers is expected to expand at the highest CAGR over the projected period. This is driven by the growing awareness regarding animal welfare in the region.
Major Companies Ink Partnerships to Expand Product Reach
Leading industry participants are focused on the adoption of various strategies such as acquisitions, merger agreements, and the launch of new solutions. Some of the additional initiatives comprise escalating participation in trade conferences and an upsurge in research activities.
List of the Companies Operating in the Market:
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