IMARC Group, a leading market research company, has recently releases report titled “Feed Software Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028.” The study provides a detailed analysis of the industry, including the global feed software market share, size and forecasts. The report also includes competitor and regional analysis and highlights the latest advancements in the market.
How Big is the Feed Software Market?
The global feed software market size reached US$ 188.7 Million in 2022. Looking forward, IMARC Group expects the market to reach US$ 272.8 Million by 2028, exhibiting a growth rate (CAGR) of 6.1% during 2023-2028.
What is Feed Software?
Feed software is used by feed manufacturers, formulators, nutritionists, and veterinarians to make and manage feed formulas. It can generate reports for creating balanced diets and evaluating budgets. It also provides information about suppliers who offer ingredients at low prices. It helps in saving time, reducing production costs, eliminating the risk of calculation errors, and managing the nutrient requirements, ingredient information, and composition of animal feed. As a result, feed software finds extensive applications in the livestock industry across the globe.
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What are the growth prospects and trends in the feed software industry?
The global feed software market is primarily driven by the rapid industrialization of the livestock sector. Moreover, the escalating demand for feed optimization techniques to overcome the difficulties of feed formulation and ensure proper usage of ingredients is positively influencing the market growth.
Additionally, feed software offers numerous benefits, including cost savings in feed milling operations, improved animal growth and health, and the ability to monitor animal behavior and identify sick animals, which is propelling the market growth. Furthermore, several key players are investing in research and development (R&D) activities to provide regular software updates and are incorporating surveillance cameras and sensors to monitor animal weight and feed intake, thereby contributing to the market growth.
Other factors, including rising consumption of meat products, expanding animal population, and increasing spending on animal health, are also anticipated to create a positive market outlook.
What is included in market segmentation?
The report has segmented the market into the following categories:
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
Market 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
Who are the key players operating in the industry?
The report covers the major market players including:
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.) and Supervisor Systems.
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