Australia Compound Feed Market Size
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| Market Size (2024) | USD 5.60 Billion |
| Market Size (2029) | USD 6.90 Billion |
| CAGR (2024 - 2029) | 4.20 % |
| Market Concentration | High |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Australia Compound Feed Market Analysis
The Australia Compound Feed Market size is estimated at USD 5.60 billion in 2024, and is expected to reach USD 6.90 billion by 2029, growing at a CAGR of 4.20% during the forecast period (2024-2029).
- Beef was once the most popular meat type consumed in Australia; however, the type of meat consumed has changed significantly in recent years, with chicken and pork outshining beef, mutton, and lamb. According to OECD statistics (Organization for Economic Cooperation and Development), Australia's per-capita annual consumption of chicken meat and pork increased to 44.842 kg per person in 2023 from 44.504 kg per person in 2022. Similarly, pork consumption improved through marketing campaigns, which categorized pork as lighter and healthier. Further, according to the Alltech Feed Survey 2021, animal feed production in Australia came mainly from more than 160 mills. The rate of meat consumption has increased in Australia due to the increasing awareness and consumption of protein-rich healthy food. These factors are anticipated to drive the compound feed market during the forecast period.
- Australia is the world’s most significant exporter of meat. Even though Australia’s primary meat feedlot sector relies heavily on grain feeding for export and domestic markets, compound feeds have a lot of potential to replace grain feeding in this sector. According to ITC Trademap data, in terms of value, in 2022, Australia's export of swine meat was USD 81,764 thousand, which increased to USD 136,648 thousand in 2023. The increased demand for meat in countries like China, the United States, Japan, and the Republic of Korea is expected to increase meat production in Australia.
- Significant companies in the market are Charoen Pokphand Foods, Cargill Inc., Alltech Inc., Archer Daniels Midland, and Land O Lakes (Purina). Mergers and acquisitions, expansions, product launches, and partnerships are the major business strategies adopted by these companies. In 2021, a new feed manufacturing plant by Weston Animal Nutrition was declared to be built in Kwinana in Western Australia. The production facility is designed to have a production capacity of 200,000 tons per annum and is set to become one of the largest feed mills in the country. It produces feed for poultry and pigs and is expected to increase its market share amid the rising demand for pellet feed.
Australia Compound Feed Market Trends
Poultry Segment Dominates the Market
With Australia's rising population and income over the past few years, there has been a significant rise in meat consumption in the country over the same period. Each Australian consumes 47.46 kg of chicken each year, making it the most consumed animal protein, surpassing beef, lamb, and hog. The chicken meat industry has been growing by 4.5% annually over the last 20 years. Chicken meat has become the most consumed meat in Australia, which will further increase compound feed consumption in the country. Further, as per the Australia Egg Organisation, per capita egg consumption grew to 263 eggs in the 2022-2023 financial year from 262 eggs in 2021-2022.
Besides, increased poultry consumption has ensured strong downstream demand and boosted industry revenue. Retail poultry prices have declined, while many substitute products, such as fish and seafood, beef, and lamb, have risen. Consequently, the relatively lower price of poultry in retail outlets has encouraged more consumers to purchase and consume poultry over the past five years. In addition, rising health consciousness has driven demand for leaner protein sources, such as poultry, benefiting the industry. Increasing life expectancy, limited availability of land and water resources for animal feed production, and growing use of these resources for food and ethanol production are increasing the demand for compound feed in the Australian meat industry.
Increasing Production of Animal Meat is Driving the Demand for Cereals
The Australian meat industry’s output has increased strongly, which is expected to continue during the forecast period. The meat industry, like chicken meat, is highly concentrated in Australia. Two major processors are responsible for supplying around three-quarters of the domestic chicken meat market. The production of chicken meat accounts for around 95% of total poultry production, with the remainder comprising duck and turkey meat production. Most of the chicken meat is entirely consumed within the Australian domestic market.
According to the FAOSTAT, meat production was observed to be 4,373,104.74 in 2021, which increased and reached 4,471,332.26 by 2022. Likewise, in 2021, Australia’s beef herd numbered 25.2 million animals. Over 100 nations have made roughly 65% of Australia’s total beef exports. Australia is the world’s most significant exporter of beef. Even though Australia’s primary beef feedlot sector relies heavily on grain feeding for export and domestic markets, compound feed ingredients like cereals have a lot of potential to replace grain feeding in this sector. Thus, the increasing growth of the poultry and beef industry for healthy meat consumption is enhancing the demand for quality cereals for nutrient supply, a key factor in delivering lucrative growth of the compound feeds market.
Consequently, cereals used in the animal feeding industry in Australia consist of various nutritional components, such as 21% to 27% of total dietary fiber, 12% to 16% of crude protein, and 18% to 22% of crude fat. Corn, barley, and sorghum are the most common cereal ingredients used in manufacturing compound feed. Wheat is the predominant supplier of dietary energy for poultry, swine, and beef diets. In addition to feeding cereals, its by-products, such as wheat bran, rice bran, and DDGS, are also used widely in poultry feed as cereal by-products, which are typically high in fiber or non-starch polysaccharides (NSP).
Australia Compound Feed Industry Overview
The Australian compound feed market is consolidated with major players, including Charoen Pokphand Foods, Cargill Inc., Alltech Inc., Archer Daniels Midland, and Land O Lakes (Purina). Mergers and acquisitions, expansion, product launches, and partnerships are the major business strategies adopted by companies.
Australia Compound Feed Market Leaders
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Charoen Pokphand Foods
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Cargill Inc.
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Alltech Inc.
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Archer Daniels Midland
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Land O Lakes (Purina)
*Disclaimer: Major Players sorted in no particular order
Australia Compound Feed Market News
- May 2023: ADM expanded its functional aquafeed portfolio to support the Asia-Pacific market, including Australia. With six feed mills covering all aqua species, Asia is a vital focus area for ADM, launching a new functional fish feed focused on seasonal variations.
- September 2022: Australia's Department of Agriculture, Fisheries, and Forestry took significant measures to develop new Australian Animal Welfare Standards and Guidelines for poultry.
Australia Compound Feed Market Report - Table of Contents
1. INTRODUCTION
1.1 Study Assumption and Market Definition
1.2 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET DYNAMICS
4.1 Market Overview
4.2 Market Drivers
4.2.1 Increasing Demand for Poultry Meat
4.2.2 Initiatives By the Key Players
4.2.3 Increasing production of Animal Meat Driving the Demand for Compound Feed Cereals
4.3 Market Restraints
4.3.1 Shift Toward Vegan- Based Diet
4.3.2 Changing Raw Material Prices and Strict Government Rules to Restrict Market Growth
4.4 Porter's Five Forces Analysis
4.4.1 Threat of New Entrants
4.4.2 Bargaining Power of Buyers/Consumers
4.4.3 Bargaining Power of Suppliers
4.4.4 Threat of Substitute Products
4.4.5 Intensity of Competitive Rivalry
5. MARKET SEGMENTATION
5.1 By Animal Type
5.1.1 Ruminant
5.1.2 Poultry
5.1.3 Swine
5.1.4 Aquaculture
5.1.5 Other Animal Types
5.2 By Ingredient
5.2.1 Cereals
5.2.2 Cakes and Meals
5.2.3 By-products
5.2.4 Supplements
6. COMPETITIVE LANDSCAPE
6.1 Most Adopted Strategies
6.2 Market Share Analysis
6.3 Company Profiles
6.3.1 Charoen Pokphand
6.3.2 Cargill Inc.
6.3.3 Land 'O Lakes (Purina)
6.3.4 Alltech Inc.
6.3.5 Archer Daniels Midland
6.3.6 New Hope Group
6.3.7 Wen's Group
6.3.8 ForFarmers
6.3.9 Kent Feeds
6.3.10 Weston Milling Animal Nutrition
6.3.11 Zheng DA International Group
6.3.12 Ewos Group
6.3.13 Nutreco NV
7. MARKET OPPORTUNITIES AND FUTURE TRENDS
Australia Compound Feed Industry Segmentation
Compound feed is a mixture of raw materials and supplements fed to the livestock, sourced from either plant, animal, organic or inorganic substances or industrial processing, whether or not containing additives. The Australian compound feed market is segmented by animal type (ruminants, poultry, swine, aquaculture, and other animal types) and ingredient (cereal, cakes and meals, by-products, and supplements). The report offers market estimation and forecasts in value (USD) for the above-mentioned segments.
| By Animal Type | |
| Ruminant | |
| Poultry | |
| Swine | |
| Aquaculture | |
| Other Animal Types |
| By Ingredient | |
| Cereals | |
| Cakes and Meals | |
| By-products | |
| Supplements |
Australia Compound Feed Market Research FAQs
How big is the Australia Compound Feed Market?
The Australia Compound Feed Market size is expected to reach USD 5.60 billion in 2024 and grow at a CAGR of 4.20% to reach USD 6.90 billion by 2029.
What is the current Australia Compound Feed Market size?
In 2024, the Australia Compound Feed Market size is expected to reach USD 5.60 billion.
Who are the key players in Australia Compound Feed Market?
Charoen Pokphand Foods, Cargill Inc., Alltech Inc., Archer Daniels Midland and Land O Lakes (Purina) are the major companies operating in the Australia Compound Feed Market.
What years does this Australia Compound Feed Market cover, and what was the market size in 2023?
In 2023, the Australia Compound Feed Market size was estimated at USD 5.36 billion. The report covers the Australia Compound Feed Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the Australia Compound Feed Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.
Australia Compound Feeds Industry Report
Statistics for the 2024 Australia Compound Feeds market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. Australia Compound Feeds analysis includes a market forecast outlook 2029 and historical overview. Get a sample of this industry analysis as a free report PDF download.
