May 11, 2022 07:40 ET | Source: Fortune Business Insights Fortune Business Insights
Pune. India, May 11, 2022 (GLOBE NEWSWIRE) -- The global Feed Mixer Market size stood at USD 698.8 Million in 2021. The market is estimated to rise from USD 720.8 Million in 2022 to USD 927.5 Million by 2029 at a 3.7% CAGR during the forecast period. Fortune Business Insights™ has elucidated these insights in its latest research report, titled, “Feed Mixer Market, 2022-2029.” Vertical Hammer Crusher
According to the analysis, technological advancements in feed machines will prompt investments across advanced and emerging economies. Stakeholders expect dairy and livestock farmers to seek advanced machines to provide high-quality animal nutrition feed. In the midst of the COVID-19 pandemic, leading companies are likely to witness major disruptions.
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Shifting Focus Toward Animal Nutrition to Augment the Market of North America
Industry participants expect the U.S. and Canada to provide promising growth opportunities following the rise in health expenditure on livestock. North America market size stood at USD 257.3 million in 2021 and will witness a similar trend on the back of investments in the self-propelled and stationary machines. Notably, major players have adopted mechanized mixers with total mixed ration processors to tap markets across the region.
The Asia Pacific feed mixer market share will observe an upward trajectory during the forecast period, largely due to heightened awareness about animal welfare. So much so that the penetration of feed material across China, Vietnam, Indonesia and India has augmented the demand for advanced feed mixers. It is worth mentioning that India could emerge as a promising hub on the back of the flourishing dairy business. The livestock industry players are likely to seek feed mixers to streamline operations across farms and feed factories.
The presence of leading players is likely to solidify the position of Europe in the global market. Prominent players, such as Faresin Industries Spa and Trioliet B.V., have upped investments to upgrade the machine to boost nutritional feed. Technologically advanced machines are likely to gain traction across the region, auguring well for the global forecast.
In terms of product type, the market is segregated into horizontal and vertical.
Based on portability, the industry is segmented into pull, stationary, and self-propelled.
With respect to capacity, the market covers 10 M3-20 M3, <10 M3, and >20 M3.
On the basis of application, the market is fragmented into feed factory and farms.
On the geographical front, the market includes Europe, North America, Asia Pacific, the Middle East and Africa, and Latin America.
Major Players Profiled in the Market Report:
• NDEco (Hi-Tec Group Company) (Canada)
• KUHN NORTH AMERICA, INC. (U.S.)
• SILOKING Mayer Maschinenbau GmbH (Germany)
• RMH Lachish Industries Ltd (Israel)
• Schuler Manufacturing (Vermeer Corporation) (U.S.)
• Tetra Laval International S.A. (Switzerland)
Manufacturing Activities Resumption to Boost Growth Prospect
Supply chain disruptions amidst the COVID-19 pandemic have compelled leading manufacturers to rethink their strategic approaches. The post-pandemic outlook suggests governments could boost their policies to help resume manufacturing activities. Prominently, European Feed Manufacturers Federation (FEFAC) and the Dutch Feed Industry have upped their efforts to ensure quick feed delivery to livestock farmers and supply nutritious feed products to the livestock industry. Although the global consumption of feedstuffs has dipped, the ensuing period could provide a robust outlook.
Browse Summary of this Research Report:
The report offers a comprehensive perspective of the market size, share, volume, and revenue. It has also delved into SWOT analysis and Porters’ Five Force analysis. The report has been prepared through qualitative and quantitative analysis to bolster the strategic approach. The primary interviews validate assumptions, findings, and the prevailing business scenarios. The report also includes secondary resources such as annual reports, press releases, white papers, and journals.
Technological Advancements and Rising Footfall of High-quality Feed Underpin Growth
Major players are poised to invest in advanced feed mixing technology and precision feed measurement system. The feed mixer market growth will witness an appreciable gain on the back of penetration of automated feeding systems and silage technology. The adoption of sophisticated machinery to minimize food production time will also bode well for the business outlook. Moreover, the need to boost the output capacity of feed mixers, along with the penetration of state-of-the-art intensive food production methods, will encourage major players to inject funds into the machinery portfolio. It is worth noting that investments in total mixed ration (TMR) mixers to offer superior mix quality will propel the demand for high-quality feed.
However, the need for skilled operators and high maintenance costs could impede the business forecast.
Industry Players Emphasize Innovations to Tap Markets
Leading players are expected to invest in organic and inorganic strategies, including mergers & acquisitions, product launches, R&D activities, and innovations. Besides, major players are focusing on technological advancements to propel their geographical footprint.
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