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The latest report by IMARC, titled “ Feed Software Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2 028
” " the global feed software market size reached US$ 188.7 Million in 2022.
Feed software is a computer-based mathematical program designed to create and manage animal feeds. It is widely used by farmers, feed producers, nutritionists, and veterinarians to match the nutritional requirement of targeted species and achieve production goals at an optimized cost. Feed software helps formulate feeds for poultry, cattle, sheep, goats, rabbits, ruminants, pets, and aquaculture. It offers a user-friendly interface and allows users to select nutrient ranges, ingredients, seasons, and age groups for the animals. Feed software is also a cost-effective, reliable, and accurate model that provides quick formulations, saves costs, maximizes profits, increases productivity, and enables precision feed in terms of quantity and quality.
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The significant growth in the livestock industry is one of the primary factors driving the market growth. Feed software is widely used to formulate precise, uniform, and objective-based animal feed, reduce costs, and maximize profits. In addition to this, rising software adoption by farmers to ensure the healthy growth and development of livestock, increase milk yield, and improve meat quality, is acting as another growth-inducing factor. Furthermore, increasing consumer awareness regarding multiple product benefits, such as faster, secure, and reliable calculations, high return on investments, intuitive and user-friendly interface, and highly customizable and scalable features, is providing an impetus to the market growth. Additionally, the introduction of next-generation, cloud-based feed software that provides highly secure end-to-end solutions, a collaborative platform with a multi-user environment, an efficient optimization engine, intelligent reporting, continuous updates, and easy data access on any device is positively influencing the market growth. Apart from this, the integration of artificial intelligence (AI) to detect potential contaminants in feed ingredients, identify signs of illness or stress in animals, calculate exact caloric needs, and provide predictive capabilities to test various scenarios at low costs, is favoring the market growth. Other factors, including extensive research and development (R&D) activities, rapid digitalization of the livestock industry, increasing demand for meat and meat products, and rising consumer awareness regarding healthy eating, are anticipated to drive the market growth. On account of the aforementioned factors, the market value is expected to reach US$ 272.8 Million by 2028, exhibiting a CAGR of 6.1% during 2023-2028.
Looking forward, the market value is projected to reach a strong growth during the forecast period (2023-2028).
Market Summary:
Breakup by Type:
• Feed Formulation Software
• Animal Simulation Model
• Others
Breakup by Animal Type:
• Swine
• Poultry
• Ruminant
• Aquaculture
• Others
Breakup by Mode of Delivery:
• On-premises
• Cloud-based
Breakup by End User:
• Feed Producers
• Animal Farmers
• Nutritional Professional and Consultants
• Veterinarians
• Others
Breakup by Region:
• North America
• United States
• Canada
• Asia-Pacific
• China
• Japan
• India
• South Korea
• Australia
• Indonesia
• Others
• Europe
• Germany
• France
• United Kingdom
• Italy
• Spain
• Russia
• Others
• Latin America
• Brazil
• Mexico
• Others
• Middle East and Africa
Competitive Landscape with Key Players:
• Adifo
• Agrovision B.V.
• Alltech Inc.
• Animal Feed Formulation Software
• Bluestar Adisseo Company (China National Bluestar (Group) Co. Ltd.)
• Cargill Incorporated
• Cultura Technologies Inc. (Volaris Group Inc.)
• Dalex Livestock Solutions LLC
• DHI Computing Service Inc
• Easy Automation Inc.
• Feedlogic Corporation
• PrairiE Systems LLC (United Animal Health Inc.)
• Supervisor Systems
View Full Report with TOC & List of Figure: https://www.imarcgroup.com/feed-software-market
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