市場調查報告書
商品編碼
1455807
全球馬飼料市場 - 2024-2031Global Horse Feed Market - 2024-2031 |
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概述
2023年,全球馬飼料市場達到82.3億美元,預計2031年將達到114.4億美元,2024-2031年預測期間CAGR為4.2%。
馬主越來越意識到適當的營養對馬的健康和表現的重要性,這是馬飼料市場成長的關鍵趨勢。隨著馬主對馬匹特定飲食需求的了解越來越多,他們願意投資於滿足這些要求的優質飼料。這種認知的提高導致對針對馬的不同生命階段、活動水平和健康狀況的專用飼料的需求不斷成長。
2020 年 8 月,Bluegrass Horse Feed 在其 Extra Pro 系列中開發了一款新產品 Bluegrass Re-Lite。 Bluegrass Re-Lite 是針對需要額外消化支持而不消耗額外熱量的高性能馬匹而設計的。這種低澱粉、高纖維的立方體是專為有消化問題和穀物敏感性的馬而設計的。
由於其營養價值、多功能性、廣泛供應性和成本效益,穀物在馬飼料市場成長中保持最高佔有率,使其成為各種飼料配方中的主要成分。同樣,亞太地區在馬飼料市場佔據主導地位,由於城市化進程的加快、可支配收入的增加以及馬術運動參與度的提高,佔據了最大的市場佔有率,從而推動了對高質量馬飼料產品的需求。
動力學
人們對馬術活動的興趣日益濃厚
據美國疾病管制與預防中心 (CDC) 稱,美國每年約有 3000 萬人騎馬。隨著越來越多的人從事騎馬、馬術運動和涉及馬的娛樂活動,對專用馬飼料產品的需求也相應增加。馬主了解為動物提供適當營養以支持其健康、表現和整體福祉的重要性。
這一趨勢的主要原因之一是馬主和馴馬師越來越意識到適當營養對馬匹健康和表現的重要性。馬需要均衡的飲食來保持最佳健康,支持肌肉發育,並在訓練和比賽期間維持能量水平。因此,馬主擴大轉向採用根據馬的特定需求精確混合營養成分配製而成的專用飼料。
關注馬匹健康
人們對寵物馬健康的日益關注已成為馬飼料市場成長的重要推動力,反映出寵物健康的更廣泛趨勢以及馬匹作為重要伴侶的認可。隨著越來越多的馬主優先考慮動物的健康和福祉,對專門為解決特定健康問題和營養需求而量身定做的高品質、專業馬飼料產品的需求不斷增加。
2020年7月,為了拯救馬拉喀什飢餓的馬車馬匹,國際動物組織SPANA在馬拉喀什啟動了緊急餵食計畫。此類舉措不僅滿足了這些動物的需求,而且還闡明了更廣泛的馬福利問題以及適當的營養在維持馬的健康和福祉中所發揮的作用。
原物料價格波動
原料價格的波動對馬飼料市場構成了重大挑戰,限制了其成長。穀物、蛋白質、維生素和礦物質等原料是馬飼料配方的重要組成部分,其價格的任何波動都可能對馬飼料市場造成影響。直接影響生產成本,並最終影響馬飼料產品的可承受性和可用性。
當關鍵原料的價格不可預測地上漲時,製造商在採購這些材料時可能會面臨更高的費用。這些增加的成本通常以馬飼料產品零售價格上漲的形式轉嫁給消費者。因此,馬主可能不太願意購買飼料或可能尋求成本較低的替代品,導致需求減少和市場成長放緩。
Overview
Global Horse Feed Market reached US$ 8.23 billion in 2023 and is expected to reach US$ 11.44 billion by 2031, growing with a CAGR of 4.2% during the forecast period 2024-2031.
The increasing awareness among horse owners about the importance of proper nutrition for equine health and performance acts as a key trend for the horse feed market growth. As owners become more educated about the specific dietary needs of horses, they are willing to invest in high-quality feeds that meet those requirements. This heightened awareness has led to a growing demand for specialized feeds tailored to different life stages, activity levels, and health conditions of horses.
In August 2020, Bluegrass Horse Feed developed a new product, Bluegrass Re-Lite, in their Extra Pro Range. For performance horses that require additional digestive support without consuming extra calories, Bluegrass Re-Lite was created. This low-starch, high-fiber cube was created especially for horses that have digestive problems and cereal sensitivity.
Cereals have maintained the highest share in the horse feed market growth due to their nutritional value, versatility, widespread availability, and cost-effectiveness, making them a staple ingredient in various feed formulations. Similarly, Asia-Pacific dominates the horse feed market, capturing the largest market share due to increasing urbanization, rising disposable income, and growing equestrian sports participation, driving demand for high-quality horse feed products.
Dynamics
Rising Interest in Equestrian Activities
According to CDC, the Centers for Disease Control and Prevention, in the US, an estimated 30 million people ride horses annually. As more people engage in horse riding, equestrian sports, and recreational activities involving horses, there is a corresponding increase in the demand for specialized horse feed products. Horse owners understand the importance of providing their animals with proper nutrition to support their health, performance, and overall well-being.
One of the primary reasons for this trend is the growing awareness among horse owners and trainers about the importance of proper nutrition for equine health and performance. Horses require a balanced diet to maintain optimal health, support muscle development, and sustain energy levels during training and competition. As a result, horse owners are increasingly turning to specialized feeds formulated with the precise blend of nutrients required for their horses' specific needs.
Focusing on Horse Health and Wellness
The growing focus on pet horse health has become a significant driver of growth in the horse feed market, reflecting a broader trend towards pet wellness and the recognition of horses as valued companions. As more horse owners prioritize the health and well-being of their animals, there has been an increased demand for high-quality, specialized horse feed products tailored to address specific health concerns and nutritional needs.
In July 2020, to save the starving carriage horses in Marrakech, the international animal organization SPANA launched an emergency feeding program in Marrakech. This type of initiative not only addressed the needs of these animals but also shed light on the broader issue of equine welfare and the role that proper nutrition plays in maintaining the health and well-being of horses.
Fluctuations in Raw Material Prices
Fluctuations in raw material prices present a significant challenge for the horse feed market, acting as a restraint on its growth Raw materials such as grains, proteins, vitamins, and minerals are essential components of horse feed formulations, and any volatility in their prices can have a direct impact on production costs and ultimately on the affordability and availability of horse feed products.
hen the prices of key ingredients rise unpredictably, manufacturers may face higher expenses in sourcing and purchasing these materials. These increased costs are often passed on to consumers in the form of higher retail prices for horse feed products. As a result, horse owners may be less inclined to purchase feed or may seek out lower-cost alternatives, leading to decreased demand and slower market growth.
The global horse feed market is segmented based on type, nutrition type, form, ingredients, distribution channel, and region.
Cereals' Nutritional Value and Widespread Availability
Cereals have traditionally held a significant share in the horse feed market, largely due to their nutritional value, versatility, and cost-effectiveness. Cereal grains such as oats, barley, corn, and wheat are rich sources of energy, carbohydrates, protein, and essential nutrients, making them staple ingredients in many horse feed formulations. Oats, in particular, have been a longstanding favorite among horse owners for their digestibility and palatability, making them a popular choice for providing sustained energy and promoting digestive health in horses.
One reason for cereals' dominance in the horse feed market is their widespread availability and relatively low cost compared to other feed ingredients. According to FAO, about 37% of the world's supply of cereals, including milled rice, is utilized for feed. Cereal grains are widely cultivated around the world and are often produced in large quantities, allowing for economies of scale in feed production. This accessibility and affordability make cereals an attractive option for horse owners looking to provide their animals with a balanced and cost-effective diet.
Asia-Pacific's Growing Equine Industry, Coupled with Increasing Awareness About Proper Nutrition for Horses
The Asia-Pacific region holds a significant share in the growth of the horse feed market for several reasons. One of the primary drivers is the burgeoning equine industry across countries like China, Australia, Japan, and India. As economies in this region continue to develop, there's been a noticeable rise in disposable income levels, enabling more people to indulge in equestrian activities such as horse riding, racing, and breeding.
In July 2022, in India, the Turf Authorities of India (TAI) introduced the National Combined Totalizator System. The system will bring Indian horse racing closer to global trends and norms while enhancing openness among all stakeholders (government, clubs, racegoers, etc.). As the racing ecosystem evolves and becomes more professionalized, the demand for developing innovative feed solutions tailored to the needs of Indian racehorses grows.
Moreover, the increasing awareness among horse owners and trainers regarding the importance of proper nutrition for horses drives the demand for specialized feed products. In India, in May 2021, Animal lovers in Pune and Mumbai raised funds to feed starving horses in Matheran as tourism took a hit due to the enforcement of the lockdown. As more individuals become educated about the nutritional requirements of horses at different life stages and activity levels, there's a growing preference for scientifically formulated feeds that address specific dietary needs.
The pandemic-induced lockdowns and restrictions disrupted various aspects of the equine industry, including equestrian events, competitions, and recreational activities. As a result, many horse owners faced uncertainties and financial constraints, leading to changes in their purchasing behaviors and preferences for horse feed products which limited the market growth in that period.
However, the pandemic highlighted the importance of animal welfare and nutrition, prompting horse owners to prioritize the health and well-being of their animals. As a result, there was a growing demand for high-quality, nutritionally balanced horse feed products that could support the overall health, performance, and immune function of horses. Manufacturers responded to this trend by introducing new formulations and variants of horse feed designed to meet the specific needs of different breeds, ages, and activity levels.
The Russia-Ukraine war had a significant impact on the global horse feed market, disrupting supply chains and causing market uncertainties. Ukraine, in particular, is a major exporter of grains and oilseeds, which are essential ingredients in many types of animal feed, including horse feed. The conflict in the region disrupted agricultural operations, transportation routes, and trade flows, leading to concerns about potential shortages and price volatility in the global feed market.
Furthermore, the geopolitical tensions in the region contributed to fluctuations in commodity prices, including grains and oilseeds. The uncertainty surrounding the conflict led to volatility in agricultural commodity markets, with prices for feed ingredients experiencing sharp fluctuations. These price dynamics have implications for the cost of horse feed production and distribution, potentially leading to higher prices for consumers and reduced profitability for feed manufacturers and suppliers.
The major global players in the market include Cargill Incorporated, Baileys Horse Feeds, Big V Feeds, Inc., ADM, Arvesta, Hubbard Feeds, Purina Animal Nutrition LLC, West Feeds, Cavalor, and RCL Food.
The global horse feed market report would provide approximately 78 tables, 75 figures, and 209 Pages.
Target Audience 2024
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