Australia Compound Feed Market Size (2024 - 2029)

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 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.