Global Animal Feed Market Could Exceed $92 Billion During 2020-2024
Palm Beach, FL – July 22, 2020 – Industry insiders have been projecting a sustainable rise in revenues for the global animal feed market for the next several years. A report from Technavio, who has been monitoring the market since 2015, said that the market is poised to grow by USD 92.79 billion during 2020-2024, progressing at a CAGR of nearly 4% during the forecast period. They said that: “The market is driven by the increasing number of product launches. In addition, the adoption of new technologies is anticipated to boost the growth of the animal feed market… Vendors in the market are focusing on expanding their product portfolio by launching new products. This helps them in increasing revenue flow as well as their share in the market. Some vendors are focusing on launching new products under new brand names… Many such product launches are fueling the growth of the global animal feed market.” Active stocks in news today include: China Xiangtai Food Co. Ltd. (NASDAQ: PLIN), Hormel Foods Corporation (NYSE: HRL), Beyond Meat, Inc. (NASDAQ: BYND), Tyson Foods, Inc. (NYSE: TSN), Sysco Corporation (NYSE: SYY).
An earlier report from Research And Markets had even higher projections. A year earlier they stated that: “Animal feed market is expected to grow at a compound annual growth rate of 3.62% over the forecast period to reach a market size of US$415.494 billion in 2023 from US$335.738 billion in 2017. Animal feed is products that are responsible for improving the health of animals. The feed is given in various doses depending on the animal. Rapid urbanization and growing consumption of meat and other end products such as milk and eggs across different regions are driving the animal feed market growth opportunities during the forecast period. The feed helps in enhancing the animal’s abilities by providing enriched nutrients along with the feedstuff, accelerating growth and weight gain and developing immunity… High growth in the animal feed market is aided by the growth strategies of major players in form of expansions and investments, which also helps in enhancing the product portfolio and reaching out to new target markets. Furthermore, growing livestock population along with the shift from unorganized livestock farming to the organized sector is further expected to propel the market growth opportunities in the coming years.”
China Xiangtai Food Co. Ltd. (NASDAQ: PLIN) BREAKING NEWS – China Xiangtai Food Co., Ltd. Expands Hog Breeding Business in Guangxi Province – China Xiangtai Food (the “Company” or the “PLIN”), an emerging growth company engaged in the food processing business, today announced that the Company, through its primary operating subsidiary Chongqing Penglin Food Co. Ltd., has entered into a lease agreement (the “Agreement”) to expand hog breeding business in Guangxi Province. Pursuant to the Agreement, the Company has agreed to rent a 2,500-square-meter hog breeding farm (the “Farm”) with four hog breeding houses in Guangxi for five years until May 7, 2025.
“By combining the capacity of the Farm and business experience of our company, we will be able to have better control of the supply chain and thus our company to continue building our competitive advantages in the market,” said Ms. Zeshu Dai, Chairman and Chief Executive Officer of China Xiangtai Food Co., Ltd.
Mr. Xiaohui Wu, President and Director of China Xiangtai Food Co., Ltd. commented, “We are implementing our vertical integration strategy to seize development opportunities. The Farm can further optimize the deployment of PLIN’s production capacity while also increasing the quality of our offerings at fair and stable prices since we are able to control the supply end of our products. We believe this move will furthur enhance the Company’s profitability and realize our commitment to increase long-term shareholder value.” Read this entire press release and more news for PLIN at: https://www.financialnewsmedia.com/news-plin
In other industry news this week of note includes:
Beyond Meat, Inc. (NASDAQ: BYND) a leader in plant-based meat, recently announced the company’s first co-manufacturing capabilities in Europe with the official opening of the Zandbergen co-manufacturing facility in Zoeterwoude, the Netherlands. The new state-of-the-art facility owned and operated by Zandbergen will produce the Beyond Burger® and Beyond Sausage® and is intended to allow for more efficient distribution of Beyond Meat’s products across EMEA.
Production at the new Zandbergen co-manufacturing facility will also include the upcoming debut of new packaging for both the Beyond Burger and Beyond Sausage available in EMEA. The lighter, more sustainable packaging aligns with Beyond Meat’s commitment to sustainability and will feature fully recyclable trays and 30% less material overall by reducing paper and plastic use.
Tyson Foods, Inc. (NYSE: TSN) recently published its 2019 Sustainability Report, “Grow – Deliver – Sustain”, outlining progress toward its sustainability goals and announcing key achievements in five focus areas: Food, Animal Welfare, Environment, Workplace, and Communities. The goal of Tyson Foods’ sustainability initiative is to ensure the company produces safe, nutritious food for the global population and makes a positive impact on the world.
Tyson Foods’ commitments to help build a more safe, environmentally sound and sustainable food system represent a key element of the company’s broader vision to raise the world’s expectations for how much good food can do. Its strategy for sustainably feeding the world with the fastest-growing protein brands focuses on growing its business by delivering superior value to consumers and customers; delivering fuel for growth and returns through commercial, operational and financial excellence; and sustaining the company and the world for future generations.
Hormel Foods Corporation (NYSE: HRL) Hormel Health Labs, part of the Hormel Foods family of companies, is launching new THICK & EASY® IDDSI Level 5 Ready Meats to provide safe, enjoyable food and meaningful nutrition for those on dysphagia diets.
Preparing meat for someone with dysphagia can be difficult because it has to be ground to a specific, standardized consistency for safety and comfort reasons. The THICK & EASY®IDDSI Level 5 Ready Meats offer a simple way to make sure meats are suitable for IDDSI Levels 5 and 6. In addition to consistency, they offer great convenience in the kitchen and can be prepared in just a matter of minutes.
“Our job is to develop products that are easy to prepare and still taste great for those on dysphagia diets,” said Tim Garry, director of marketing for Hormel Health Labs and a registered dietitian nutritionist. “Our new THICK & EASY® IDDSI Level 5 Ready Meats provide a solid source of protein that can be prepared quickly while still delivering a tasty and enjoyable meal.”
Sysco Corporation (NYSE: SYY) recently announced it has donated 30 million meals across eight countries since mid-March as part of its community response strategy to the COVID-19 pandemic. These donations were valued at over $100 million and included nearly 16 million pounds of fresh produce and approximately six million pounds of fresh dairy products.
With millions more people around the world seeking food assistance, Sysco worked closely with suppliers, customers and government entities, along with key partners like Feeding America in the U.S., Second Harvest in Canada, FareShare in the U.K. and FoodCloud in Ireland, among others, to distribute food to those who need it most.
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