Redding, California, Aug. 01, 2023 (GLOBE NEWSWIRE) -- According to a new market research report titled, ‘Feed Software Market by Type (Feed Formulation, Animal Simulation Model), Deployment Mode (On-premise, Cloud-based Software), Animal Type (Poultry, Ruminants, Aquaculture, Pet), End Users (Feed Manufacturers, Animal Farmers) - Global Forecast to 2030,’ the feed software market is expected to reach $456.1 million by 2030, at a CAGR of 6.2% from 2023 to 2030.
The growth of this market is attributed to the adoption of digital technologies and automation in the animal feed industry, the growing animal population, increasing demand for healthy animal-based food products, increasing animal health expenditure and pet insurance, and the growing need to reduce feed production costs. Additionally, Integration with IoT and big data and emerging economies offer significant growth opportunities for feed software vendors. However, low animal health awareness in developing countries restrains feed software market growth.
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The feed software market study is segmented based on type, deployment mode, animal type, end user, and geography. The study also evaluates industry competitors and analyses the market at the regional and country levels.
Based on type, the feed software market is segmented into feed formulation software, animal simulation model, and other types. In 2023, the feed formulation software segment is expected to account for the largest share of the feed software market. The large market share of this segment is attributed to increased animal feed production, high demand for customized feed for animals, and a rise in focus on feed production optimization.
Based on deployment mode, the feed software market is segmented into on-premise software and cloud-based software. In 2023, the on-premise software segment is expected to account for the larger share of the feed software market. The on-premise deployment mode is commonly used for various tasks, including feed management, a high level of security in feed formulation, and complete control of users, which is attributed to the major share of this segment. However, the cloud-based software segment is expected to register the highest CAGR during the forecast period. Cloud-based feed software solutions are increasingly preferred due to their advantages, such as scalability, flexibility, and cost efficiency. Furthermore, these cloud-based systems offer real-time data access, making them ideal for businesses with multiple locations.
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Based on animal type, the feed software market is segmented into poultry, ruminants, swine, aquaculture, pets, and other animal types. In 2023, the poultry segment is expected to account for the largest share of the feed software market. The huge demand for poultry feed due to the rising consumption of poultry meat and eggs and the increasing popularity of poultry products among fitness enthusiasts as the least expensive source of protein contributes to the large market share of the poultry segment.
Based on end user, the feed software market is segmented into feed producers, animal farmers, nutritional professionals, consulting companies, veterinarians, and other end users. In 2023, the feed producers segment is expected to account for the largest share of the feed software market. Feed software helps producers create high-quality, consistent, cost-effective feed formulations while improving efficiency and ensuring compliance with regulatory requirements. The rising adoption of feed software by feed producers with growing demand for animal protein, increasing disposable income, and rising demand for safe & nutritious animal food production is attributed to the large market share of this segment.
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Based on geography, in 2023, North America is expected to account for the largest share of the feed software market. However, Asia-Pacific is projected to register the highest CAGR during the forecast period. The growth of this regional market is attributed to increasing investments by the major animal feed producers, increasing demand for high-quality animal feed coupled with the rapidly growing animal husbandry industry, and increasing adoption of digital technologies and automation in the animal nutrition sector.
The key players operating in the feed software market are Adifo NV (Belgium), PrairiE Systems, LLC (U.S.), Cultura Technologies (Georgia), Bluestar Adisseo Company (China), Dhi Computing Service, Inc. (U.S.), Easy Automation, Inc. (U.S.), Landmark feeds, Inc. (Canada), Supervisor Systems (U.S.), AgroVision B.V. (Netherlands), MTech-Systems (Georgia), Feedlogic Corporation (U.S.), Cargill, Incorporated (U.S.), Dalex Livestock Solutions LLC (U.S.), Evonik Industries AG (Germany), Format Solutions, Inc. (U.S.), GLOBALVETLINK, L.C. (U.S.), Agentis Innovations Ltd (Cyprus), Animal Feed Formulation Software (U.S.), GEOSAN DEVELOPMENT s.r.o (South Korea), and Kemin Industries, Inc. (U.S.)
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Scope of the report:
Feed Software Market—by Type
- Feed Formulation Software
- Animal Simulation Model
- Other Types
Feed Software Market—by Deployment Mode
- On-Premise Software
- Cloud-based Software
Feed Software Market—by Animal Type
- Poultry
- Ruminants
- Swine
- Aquaculture
- Pets
- Other Animal Types
Feed Software Market—by End User
- Feed Producers
- Animal Farmers
- Nutritional Professionals
- Consulting Company
- Veterinarians
- Other End Users
Feed Software Market—by Geography
- North America
- U.S.
- Canada
- Europe
- Germany
- France
- U.K.
- Italy
- Spain
- Rest of Europe
- Asia-Pacific
- China
- Japan
- India
- Australia
- Rest of Asia-Pacific
- Latin America
- Brazil
- Mexico
- Argentina
- Rest of Latin America
- Middle East & Africa
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