Australia Animal Feed Market Overview, 2029

The Australian animal feed market has evolved significantly, driven by the increasing demand for meat and aquaculture products. The market is characterized by a diverse range of animal feed types, including compound feeds made from various raw materials such as grains, meals, and by-products. The primary grains used in feed production include wheat, barley, sorghum, and soybean, with a notable shift towards the use of genetically modified (GM) feeds due to their improved nutritional benefits and productivity enhancements. Australia maintains a strict non-GM identity preservation system within its organic stock feed regulations, prohibiting the intentional use of GM organisms and antibiotics in animal feeds. Poultry feed by livestock type is highest in demand, driven by the demand for poultry meat products by consumers. The rising population further boosts the demand for poultry meat, but the rising feed prices hamper the market's growth. Since poultry meat is the cheapest form of meat available, consumers' consumption is high. Increased demand for organic feed and industrial livestock production further augments the market's growth. Poultry requires a lot of protein, fats, and calcium, which poultry by-products and fish meals provide. Further, the increased belief of consumers to include more protein in their diet on a regular basis is driving the demand for poultry meat, which correspondingly creates more demand for poultry feed by poultry farms. According to the research report, "Australia Animal Feed Market Outlook, 2029," published by Bonafide Research, the Australia Animal Feed market is anticipated to add to more than USD 1000 Million by 2024–29. As the population continues to grow and health consciousness rises, there is a marked increase in the demand for protein-rich foods, particularly meat and seafood. This trend is evident in the rising consumption of poultry, which has become a staple in Australian diets. The shift towards leaner protein sources is expected to further boost the demand for high-quality animal feed, particularly for poultry and aquaculture sectors, which are seeing increased investments to meet both domestic and export needs. Aqua feed farming is increasingly being commercialised with its demands, resulting in an increased demand for feed to raise them. Cattle feed remains with more market share as it is the most demanded meat by consumers. Animal supplements are expected to be in demand over the forecast period as the animals are deprived of vitamins and minerals from the feed they are fed. Also, due to low feed quality and to improve their structural body composition, supplements are fed to animals. The pellet form of animal feed is expected to remain the main form of feed, but the crumbled form is also expected to be in demand during future years. Plant-based sources remain the main source of protein for animal feed as they provide a range of benefits for both the animals as well as feed manufacturers. The high prices of animal feed and their raw materials act as a hindrance as farmers do not want to invest a major chunk of their income in feeds. Demand for animal feed in the country is increasing with greater emphasis on animal health as well as rapid growth in animal farming, which are expected to increase its demands in the future.

Cereals by ingredient type are rich in starch content and are highly preferred to feed animals. Every grain or cereal varies in its nutritional content and digestive anatomy of the animal. Starch that is completely digested before the end of the small intestine (SI) provides the maximum amount of glucose from the grain to support growth. Barely, corn, oats, and rye are entirely used as animal feed and only small amounts are used for human consumption. These grains and cereals might be fed in whole or compound form, mixed with other bi-products or oils, minerals or vitamins to form a complete meal for animals. The produced cereals are stored after drying to reduce moisture levels and preserve them for the full year. Since some are seasonal grains, they need to be produced for the whole year and stored to meet the demands. Production is highly influenced by particular crop failures, droughts, or climatic conditions. Animal feed Pellets are made from corn, bean pulp, straw, rice husk, and other cereals and grains for different animals. They have comprehensive nutrition, improve digestibility of feed, decrease picky eaters of animals and are easy to store and transport. The pellets often contain grease as they provide oxidation and hydrolysis. Oxidation helps to convert unsaturated fats into saturated fats when the feed pellets have improper fats as it is easy to hydrolyse. The quality of pellets can be defined by the repeated handling, bagging, transportation, and storage feed lines without much damage or fine particles. However, the pellet quality and efficiency depend on the raw materials used, like corn and soy lack the ability to achieve good pellet quality, while that of wheat increases pellet durability because of high protein content and hemi-cellulose in contrast to corn and soy products. The Australian animal feed market is increasingly categorized by source, primarily divided into plant-based and animal-based feed ingredients. Plant-based feed sources dominate the market due to their availability, cost-effectiveness, and sustainability. Common ingredients include soybean meal, wheat, corn, and canola, which are rich in protein and essential nutrients. The growing trend towards sustainable farming practices has led to increased adoption of plant-based feeds among livestock producers. These ingredients not only support the nutritional needs of various livestock but also align with consumer preferences for environmentally friendly products. The shift towards plant-based diets for both humans and pets is influencing feed formulations, further boosting the demand for plant-derived proteins. Animal-based feed ingredients, while still significant, are facing challenges due to rising concerns over animal welfare and environmental sustainability. Ingredients such as meat and bone meal and fish meal are traditionally used for their high protein content. However, the market is witnessing a gradual shift as producers seek alternatives that reduce dependency on animal-derived sources. This transition is particularly evident in the poultry and aquaculture sectors, where there is a push for more sustainable practices.

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Manmayi Raval

Research Consultant

However, COVID-19 has caused some problems and changes in the feed industry, like many other industries, and the Australia feed industry is no exception. It had a negative impact due to disruptions in supply chain activities caused by global trade restrictions. A sharp drop in demand for restaurant meals and an increase in demand for grocery store food, combined with certain challenges in reorienting meat supply networks, resulted in a surge in retail meat prices and occasional grocery store stock-outs of specific meat products. Lower demand for cattle and supplies of beef and pork resulted from the drop in demand. Considered in this report: • Geography: Australia • Base year: 2023 • Estimated year: 2024 • Forecast year: 2029 Aspects covered in this report • Australia animal feed market with its value and forecast along with its segments • Various drivers and challenges • On-going trends and developments • Top profiled companies • Strategic recommendation

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By Ingredient: • Cereals • By Products • Cakes & Meal • Supplements • Others By Livestock: • Cattle Feed • Poultry Feed • Pig Feed • Aqua Feed • Others By Form: • Pellet • Mash • Crumbles • Cubes and Cakes By Source: • Plant-based • Animal-based The approach of the report: This report consists of a combined approach of primary as well as secondary research. Initially, secondary research was used to get an understanding of the market and listing out the companies that are present in the market. The secondary research consists of third party sources such as press releases, annual report of companies, analysing the government generated reports and databases. After gathering the data from secondary sources primary research was conducted by making telephonic interviews with the leading players about how the market is functioning and then conducted trade calls with dealers and distributors of the market. Post this we have started doing primary calls to consumers by equally segmenting consumers in regional aspects, tier aspects, age group, and gender. Once we have primary data with us we have started verifying the details obtained from secondary sources. Intended audience This report can be useful to industry consultants, manufacturers, suppliers, associations & organizations related to Animal Feed Industry, government bodies and other stakeholders to align their market-centric strategies. In addition to marketing & presentations, it will also increase competitive knowledge about the industry.