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 size, growth, share, trends, and forecasts. The report also includes competitor and regional analysis and highlights the latest advancements in the market.
Industry Overview of Feed Software
Feed software is employed by feed manufacturers, formulators, nutritionists, and veterinarians to produce and oversee feed formulas. It encompasses a functionality to generate reports, aiding in the development of balanced diets and budget analysis. Additionally, it presents information on suppliers offering cost-effective ingredients. Moreover, it streamlines operations by saving time, cutting production costs, mitigating human calculation mistakes, and effectively managing animal nutritional needs, ingredient particulars, and composition.
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.
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What are the growth prospects and trends in the feed software industry?
The market’s expansion is driven by the rapid industrialization of the livestock sector, particularly in developing economies. This factor is one of the primary contributors to the market’s growth. Additionally, the worldwide surge in meat consumption is accelerating the demand for animal feed. Furthermore, the formulation of feed presents a complex challenge, often resulting in the improper use of certain ingredients. Hence, there is a significant requirement for optimization techniques for feed products.
The combination of this need with the substantial increase in animal population is also fostering market growth. Feed software plays a crucial role in reducing the cost of feed milling operations and facilitating animal growth and development. It also offers the ability to analyze livestock behavior and identify diseased animals. Furthermore, the versatility of feed software allows its application across various animal types, including swine, poultry, ruminant, aquaculture, and others.
This, coupled with the rising expenditure on animal healthcare, is positively impacting the sales of feed software worldwide. Additionally, major market players are heavily investing in research and development (R&D) endeavors to provide annual software upgrades. They are also incorporating surveillance cameras and sensors into feed software to monitor animal weight and feed consumption, thus creating a favorable market landscape.
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
Breakup by Animal Type:
Breakup by Mode of Delivery:
Breakup by End User:
- Feed Producers
- Animal Farmers
- Nutritional Professional and Consultants
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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