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.”
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.
Report Scope and Segmentation:
|Forecast Period||2022 to 2029|
|Forecast Period 2022 to 2029 CAGR||3.7 %|
Full story available on Benzinga.com