Livestock raising and the consumption of animal products make a crucial contribution to the economic and nutritional wellbeing of millions of people around the world. Animal feeds play an important role in the food industry and feed is the largest and most important component of global trade. For this reason, it is critical to ensure a safe, abundant and affordable supply of feed for the production of animal proteins. World feed production is fast approaching an estimated 1 billion tons annually. It is currently estimated that global commercial feed manufacturing generates an estimated annual turnover of over $400 billion with production facilities or sale of manufactured feed products in more than 130 countries. The feed additives market represents a small component of the global feed supply and is expected to reach $25 billion by 2024. Global trade in animal feed employs more than a quarter of a million skilled workers, technicians, managers and professionals.
The UN Food and Agricultural Organization (FAO) estimates that the world will have to produce 60% more food by 2050. Demand for meat production (poultry/swine/beef/dairy) is expected to double while fish production is expected to almost triple by 2050. One of the major challenges the feed industry faces is that of the 1 billion tons of feed produced annually worldwide, around 300 million tons of feed is produced directly by on farm mixing. Insuring that food safety practices are used at these difficult to inspect facilities poses a potential threat to the global food supply. The supply of cost effective safe feed and the adoption of global good manufacturing practices are areas that need to be addressed. Research on new feeds with improved formulations are also critical to insuring that feed is more efficiently utilized by target animals thereby minimizing solid and liquid waste water discharges from on land and aquaculture farming.
Global Market Insights (https://www.gminsights.com/pressrelease/animal-feed-additives-market-size)
International Feed Industry Federation ( http://www.ifif.org/pages/t/The+global+feed+industry)