Canada Compound Feed Market Size (2024 - 2029)

Canada Compound Feed Market Analysis

The Canada Compound Feed Market size is estimated at USD 9.22 billion in 2024, and is expected to reach USD 11.10 billion by 2029, at a CAGR of 3.70% during the forecast period (2024-2029).

The Canada compound feed market is projected to proliferate due to the increasing consumption of animal-based food products nationwide. Changing consumer preferences towards higher-quality dairy and meat products will drive the compound feed market's growth during the forecast period. The rising meat consumption across the country is likely to generate significant demand for compound feed to produce better-quality meat. According to the Canadian Meat Council, Canadians consume moderate amounts of red meat, with an average daily intake of 61 g of unprocessed red meat (288 g per week).

Statistics Canada reported increased poultry production and sales in 2023, driven by higher demand and product prices, signaling a recovery from the 2022 avian influenza outbreak. Total poultry sales grew 7.7% year-over-year, reaching USD 4.5 billion in 2023. Poultry farmers collectively produced 1.6 billion kilograms of chicken, turkey, and stewing hens, a 3.6% increase, Statistics Canada estimated. Egg production rose by 2.0% to 883.9 million dozen eggs in 2023. Meat consumption patterns have been shifting towards poultry. In developing countries with lower incomes, poultry is often chosen for its lower price than other meats. In high-income countries, this shift reflects a growing preference for white meats, which are easier to prepare and perceived as healthier. The increasing demand for meat and animal products is the primary driver of growth in the compound feed market. Heightened consumer awareness about the quality of meat and dairy products, coupled with a rise in livestock production, are additional factors contributing to the expansion of this market.

The Canadian feed industry operates under strict regulations, primarily governed by the Feeds Act and Feeds Regulations. These regulations oversee the daily operations of feed mills and ensure consistency among feed suppliers, manufacturers, and distributors. Feed mills in Canada are typically situated near livestock operations, with most production catering to domestic consumption. Additionally, Canada's biofuel industry enables increased grain input in livestock production, resulting in lower feed costs. This cost advantage significantly boosts sales in the Canadian feed market.

Canada Compound Feed Industry Segmentation

Compound feed is a mixture of raw materials fed to livestock, sourced from either plant, animal, organic or inorganic substances or industrial processing, whether or not containing additives. While soybean, corn, barley, wheat, and sorghum are the most commonly used raw materials, vitamins, minerals, and amino acids are the most common additives blended to form compound feed. The Canada compound feed market is segmented by Animal Type (Ruminants, Poultry, Swine, Aquaculture, and Others) and ingredients (Cereal, Cakes & Meals, By-Products, And Supplements). The report offers market estimation and forecasts in value (USD) and volume for the above-mentioned segments.