市场调查报告书
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全球马饲料市场 - 2024-2031Global Horse Feed Market - 2024-2031 |
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概述
2023年,全球马饲料市场达到82.3亿美元,预计2031年将达到114.4亿美元,2024-2031年预测期间CAGR为4.2%。
马主越来越意识到适当的营养对马的健康和表现的重要性,这是马饲料市场成长的关键趋势。随着马主对马匹特定饮食需求的了解越来越多,他们愿意投资于满足这些要求的优质饲料。这种认知的提高导致对针对马的不同生命阶段、活动水平和健康状况的专用饲料的需求不断增长。
2020 年 8 月,Bluegrass Horse Feed 在其 Extra Pro 系列中开发了一款新产品 Bluegrass Re-Lite。 Bluegrass Re-Lite 是针对需要额外消化支持而不消耗额外热量的高性能马匹而设计的。这种低淀粉、高纤维的立方体是专为有消化问题和谷物敏感性的马而设计的。
由于其营养价值、多功能性、广泛供应性和成本效益,谷物在马饲料市场成长中保持最高份额,使其成为各种饲料配方中的主要成分。同样,亚太地区在马饲料市场占据主导地位,由于城市化进程的加快、可支配收入的增加以及马术运动参与度的提高,占据了最大的市场份额,从而推动了对高质量马饲料产品的需求。
动力学
人们对马术活动的兴趣日益浓厚
据美国疾病管制与预防中心 (CDC) 称,美国每年约有 3000 万人骑马。随着越来越多的人从事骑马、马术运动和涉及马的娱乐活动,对专用马饲料产品的需求也相应增加。马主了解为动物提供适当营养以支持其健康、表现和整体福祉的重要性。
这一趋势的主要原因之一是马主和驯马师越来越意识到适当营养对马匹健康和表现的重要性。马需要均衡的饮食来保持最佳健康,支持肌肉发育,并在训练和比赛期间维持能量水平。因此,马主越来越多地转向采用根据马的特定需求精确混合营养成分配製而成的专用饲料。
关注马匹健康
人们对宠物马健康的日益关注已成为马饲料市场成长的重要推动力,反映出宠物健康的更广泛趋势以及马匹作为重要伴侣的认可。随着越来越多的马主优先考虑动物的健康和福祉,对专门为解决特定健康问题和营养需求而量身定制的高品质、专业马饲料产品的需求不断增加。
2020年7月,为了拯救马拉喀什饥饿的马车马匹,国际动物组织SPANA在马拉喀什启动了紧急餵食计画。此类倡议不仅满足了这些动物的需求,而且还阐明了更广泛的马福利问题以及适当的营养在维持马的健康和福祉中所发挥的作用。
原物料价格波动
原料价格的波动对马饲料市场构成了重大挑战,限制了其成长。谷物、蛋白质、维生素和矿物质等原料是马饲料配方的重要组成部分,其价格的任何波动都可能对马饲料市场造成影响。直接影响生产成本,并最终影响马饲料产品的可承受性和可用性。
当关键原料的价格不可预测地上涨时,製造商在采购这些材料时可能会面临更高的费用。这些增加的成本通常以马饲料产品零售价格上涨的形式转嫁给消费者。因此,马主可能不太愿意购买饲料或可能寻求成本较低的替代品,导致需求减少和市场成长放缓。
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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