Global Horse Feed Market Set For 9.5% Growth, Reaching $11.35 Billion By 2028

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How Will The Horse Feed Market Size Evolve Over The Forecast Period?
The horse feed market size has grown significantly in recent years. It is predicted to rise from $8.16 billion in 2023 to $8.69 billion in 2024, with a compound annual growth rate CAGR of 6.5%. This growth over the historic period is attributable to a rise in the equine population, an increase in equestrian sports and racing, emerging markets, and a rise in outdoor activities.

What Is The Expected CAGR And Market Size Of The Horse Feed Market By 2024?
The global market for horse feed is poised for strong growth over the upcoming years. It is forecasted to attain $11.35 billion by 2028, experiencing a compound annual growth rate CAGR of 6.9%. Various factors contributing to this growth include the emergence of e-commerce and digital marketing, a rise in disposable income, increasing participation in recreational activities, and an aging horse population. Noteworthy trends in the forecast period include personalized nutrition, nutraceuticals and supplements, clean label products, biosecurity measures, and smart feeding technologies.

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How Is The Growing Horse Population Contributing To The Horse Feed Market Growth?
The growing population of horses plays a significant role in fueling the growth of the horse feed market. Horses, as four-legged hoofed mammals, require wholesome and nutritious feed for their health and growth. Horse feed is essential as it supplies proteins, vitamins, calcium, and minerals, thereby improving the overall health and longevity of horses. For example, according to the American Horse Council Foundation, a US-based organization focusing on scientific, charitable, and educational activities associated with the horse industry, the horse population in the US reached 9.2 million in 2021. This growth in the horse population is expected to spur the horse feed market's growth in the near future.

Who Are The Major Companies Operating In The Horse Feed Market?
Notable companies in the horse feed market include Allen And Page Ltd., Baileys Horse Feeds, Big V Feeds Inc., Cargill Incorporated, Equifirst Private Limited, Farmvet Agro Private Limited, ForFarmers N.V., HorseTech Nutrition, Purina Animal Nutrition LLC, Rowen Barbary Ltd., Triple Crown Nutrition Inc., West Feeds Inc., A-One Feed Supplements Ltd., Glanbia PLC., Hubbard Feeds Inc., Jupe Feeds Incorporated, Cavalor LLC, WES Enterprises L.P., Nutrena World Feeds, ADM Animal Nutrition, Blue Seal Feeds, Buckeye Nutrition, Country Acres Feed, Farnam Companies Inc., Hallway Feeds, Kalmbach Feeds Inc., Kent Nutrition Group, LMF Feeds Inc., Manna Pro Products LLC, McCauley Bros Inc., Tuffy's Pet Foods, Poulin Grain Inc., Progressive Nutrition, Semican Inc., Southern States Cooperative Inc., Standlee Premium Western Forage, Tribute Equine Nutrition.

What Key Trends Are Emerging In The Horse Feed Market?
Innovative product development has emerged as a key trend gaining significant traction in the horse feed market. Major market players are focusing on launching innovative products such as targeted amino acid supplementation, equine microbiome optimization supplements, immunomodulatory nutrition, and veterinary diets for equine disease conditions. These efforts aim to improve the nutritive quality of the feed while enhancing the digestibility, palatability, and physiology of horses. For instance, in 2021, Saracen Horse Feeds, a UK-based company, launched Saracen RE-LEVE cubes, a low sugar, whole cereal, and alfalfa-free feed. The product features super fibers and oils as alternative energy sources and live yeast to aid optimum digestive tract health.

How Is The Horse Feed Market Segmented?
The horse feed market encapsulated in this report is segmented as per the following criteria:
1 By Type: Performance, Senior or Old, Professional, Mare And Foal, Other Types.
2 By Nutrition Type: High Fibre, Low Starch, High Protein, High Fats.
3 By Ingredients: Cereals, Supplements, Cakes or Meals, Other Ingredients.
4 By Form: Pellets, Cubes, Powder.
5 By Application: Online Sales, Offline Retail.

Where Does The Horse Feed Market Stand On A Global Scale?
As of 2023, Asia-Pacific emerged as the largest region in the horse feed market. Other regions covered in the horse feed market report include Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.

Check out the full report on the global horse feed market by clicking this link: https://www.thebusinessresearchcompany.com/report/horse-feed-global-market-report
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