Animal Feed Ingredients Market Overview
Growth opportunities in the animal feed ingredients market looks promising for the coming years owing to strong growth in the livestock feed industry in developing regions with an uptick in aquaculture feed. Meanwhile, increased awareness among pet owners, pertaining to the health of their pets, is set to propel animal feed ingredients market growth. Owing to this positive growth in the animal feed ingredients market, there is increased pressure on animal feed manufacturers to improve quality and productivity, along with ensuring higher sustainability. Also, identifying innovative growth opportunities and improving the feed conversion ratio is becoming imperative for companies operating in the animal feed ingredients market to sustain a competitive edge.
Top Markets (by global market share): China holds the largest share in the animal feed ingredients market and is expected to retain its dominance for the next five years. The experts at Infiniti Research predict that other Asia-Pacific regions including, Japan, New Zealand, and South Korea will witness steady growth through 2025.
Business Challenges Faced
The client, an animal feed ingredients manufacturer, based out of North America, witnessed stagnant growth for three consecutive years. As a result, the company started losing out its market share to competitors. To cover up for the losses, they wanted to invest into profitable growth opportunities and address complex market needs. They chose to partner with Infiniti Research to leverage their expertise in offering growth strategy engagement.
By leveraging Infiniti’s growth strategy engagement, the animal feed ingredients market client also wanted to address challenges including:
- Focusing on product portfolio expansion and partnerships, including the provision of one-stop solutions to tap into much bigger markets
- Devising cost-effective production routes to control price volatility and overcoming demand challenges in a price-sensitive market
- Expanding research and development in segments such as enzymes, probiotics, organic trace minerals, prebiotics, and omega-3 fatty acids as these sectors hold innovation potential
Our Integrated Approach and Solution
The experts at Infiniti Research conducted deep dive secondary research and 100+ interviews with market access experts, business executives, strategy managers, and marketing leaders in the animal feed ingredients market. The experts also validated the data obtained through secondary research with market intelligence experts and independent consultants.
As a part of the growth strategy engagement, the experts at Infiniti Research created a growth pipeline model and gathered opportunity insights from R&D and competitive perspective. In the next step, the experts prioritized and selected an optimal set of opportunities that best fit the client’s strategic imperative. The experts also conducted a comprehensive market analysis of profitable growth opportunities in terms of market attractiveness, competitive factors, and end-user preference. In addition, the experts helped the client to create a go-to-market and target company acquisition action plan.
By leveraging our growth strategy engagement, we provided the client with independent validation and assessment of potential growth opportunities in the animal feed ingredients market. Also, we provided the client with comprehensive insights into the animal feed ingredients market in terms of key global market quantifications, trends, issues, unmet needs, and competition.
By leveraging Infiniti’s growth strategy engagement, the animal feed ingredients market client was able to understand key market penetration success factors, attractive opportunities, and entry barriers. This helped the client to take strategic market entry approaches and tap into much bigger markets. Also, the experts helped the client to identify end-users core needs that can be addressed via innovation. This helped the client to invest into cost-effective processes and subsequently enhance business efficiency and drive customer engagement. Also, the client was able to gain an understanding of the growth trends from a customer perspective. In addition, the client was able to uncover regulatory issues that may serve as a potential challenge.
A thorough analysis of the animal feed ingredients market helped the animal feed ingredients market client to focus on product portfolio expansion and partnerships, which subsequently helped them expand into much bigger markets and improve sales. Additionally, the client was able to devise cost-effective production routes and control price volatility. By gathering in-depth insights into related segments such as enzymes, probiotics, organic trace minerals, prebiotics, and omega-3 fatty acids, they were able to undertake approaches to expand their operations into these market segments. Within one year of leveraging our growth strategy engagement, the client was able to curtail losses in market share and increase sales by 32%, generating savings of over $2.7 million.