Liquid Feed Market Size

Liquid Feed Market Size

Liquid Feed Market size exceeded USD 71.5 billion in 2020 and is estimated to grow at a CAGR of over 6% through 2027. Increasing globalization along with change in food habits pertaining to meat and processed meat consumption should drive overall industry growth. Increasing protein intake among health-conscious consumer should result in the consumption of more meat-based products in their diets, which is likely to fuel overall market statistics.

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Additionally, consumers are switching towards ready-to-eat processed meat products consumption due to hectic lifestyle. The advancement in meat processing technology especially in manufacturing processed meat products is projected to increase the meat consumption as they contribute towards valuable animal proteins to human diets. Therefore, growing demand for meat-based food products should boost liquid feed market over the coming timeframe.

The spread of COVID-19 across the world has imposed lockdowns in major ports and cities. Also, it has resulted in temporary shutdown of business centers and manufacturing units. Therefore, it caused an increase in the prices for liquid feed as well as for its raw materials. However, the demand for liquid feed is stagnant during the COVID-19 pandemic as it comes under essential commodities for animal diet. Food and feed are considered essential categories during the COVID-19 spread.

The relaxation on transportation and import & export of essential good should support the supply of liquid feed in the market. Moreover, growing consumer health concerns due to increasing COVID-19 cases should lead to an increase in the demand animal based and meat-based products. These products are rich source of vitamins, minerals, amino acids, and essential fats which helps to maintain good health. The continuous rise in the cost of raw material for liquid livestock feed is anticipated to hamper the product demand over the forecast period.

Whey, corn steepwater, condensed brewers soluble, condensed molasses fermentation soluble, lignin sulfonate and corn or milo distillers soluble are main ingredients for liquid feeds which are obtained as a by-product from other industries. These by-products are derived relatively more cheaply from other industries and can effectively be incorporated in liquid feed manufacturing. Product innovation and technological advancement may help in tackling cost issue to check product viability and variability.