The Business Research Company’s Feed Processing Equipment Global Market Report 2021: COVID-19 Impact and Recovery to 2030
LONDON, GREATER LONDON, UK, March 3, 2021 /EINPresswire.com/ — Our reports have been revised for market size, forecasts, and strategies to take on 2021 after the COVID-19 impact: https://www.thebusinessresearchcompany.com/global-market-reports
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The growing demand for feed across the globe to meet the needs of the rising livestock population is expected to drive the feed processing equipment market. The rise in livestock population led to an increase in the requirement for feed which in turn is likely to fuel the demand for feed processing equipment. According to the 20th Livestock Census report by the Department of Animal Husbandry and Dairying, Ministry of Fisheries, published in October 2019, the total livestock population in India is 535.78 million in 2019, which records an increase of 4.6% over the livestock census of 2012. As per the report by the National Agricultural Statistics Service (NASS), Agricultural Statistics Board, United States Department of Agriculture (USDA) released in February 2019, the total cattle and calf population in the USA is 94.8 million as of January 1, 2019, which slightly increased from 94.3 million on January 1, 2018. The feed is utilized for rearing livestock as it provides a high nutritional diet, which in turn increases productivity. Hence, the growing demand for the feed across the globe aids in the growth of the market.
Global feed processing equipment market analysis shows that it is expected to grow from $47.77 billion in 2020 to $52.3 billion in 2021 at a compound annual growth rate (CAGR) of 9.5%. The growth is mainly due to the companies rearranging their operations and recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges. The feed processing machinery market is expected to reach $70.06 billion in 2025 at a CAGR of 7.6%.
The feed processing market covered in this report is segmented by function into pelleting, mixing, grinding, extrusion, by feed type into ruminant feed, poultry feed, swine feed, aquaculture feed, other animal feed.
The major players covered in the global feed processing equipment market are Buhler AG, Clextral, Dinnissen BV, Andritz AG, Bratney Companies, Longchang Machinery, HET Feed Machinery, B.K. Allied Industries, SKIOLD, ZhengChang, Menci, Muyang, Elko Nagel Mecan-Systeme, Tapco.
Feed Processing Equipment Global Market Report 2021: COVID 19 Impact and Recovery to 2030 is one of a series of new reports from The Business Research Company that provides feed processing equipment market overview, forecast feed processing equipment market size and growth for the whole market, feed processing equipment market segments, and geographies, feed processing equipment market trends, feed processing equipment market drivers, restraints, leading competitors’ revenues, profiles, and market shares.
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