The global feed software market will increase at a CAGR of 6.2% to reach $281.9 million by 2022, according to the latest publication from Meticulous Research®. Feed formulation and feed management have been a major concern to feed producers, animal farmers, and veterinarians all over the world. Feed formulation software calculates a number of feed ingredients that need to be combined to form single uniform diet for animals that accomplish all of their nutrient requirements. Since nutrient values vary according to animals and their age, one need to keep formulating feed at various stages of the animal’s life. This is a tedious job to do manually where as a software can perform various calculations within no time.
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The global feed software market will be mainly driven by the growing demand for inclusion of enzymes in feed and quality management, growing animal population, increasing demand for healthy animal food products, growing animal health expenditure and pet insurance, and reduction in feed production cost. However, shortage of veterinarians in emerging markets and low animal health awareness in developing countries is expected to hinder the growth of the market to some extent. In addition, increasing investment in emerging economies further provides significant opportunities for the various stakeholders in the global feed software market.
This report analyzes the global feed software market size for 2015, 2016, and 2017, with a forecast till 2022 by software delivery mode (on-premises, and web/cloud based), animal type (ruminants, swine, and poultry), application (feed formulation, feed management, ration balancing, and quality control), end user (feed producers, animal farmers, nutrition consultants, and veterinarians), and geography (North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa).
In 2016, North America commanded the largest share in the global feed software market, followed by Europe, and Asia-Pacific. Although North America and Europe will continue to dominate the global feed software market during the forecast period, the Asia-Pacific region is also expected to witness considerable growth in the next few years. This can be mainly attributed to the growing population of livestock and food producing animals and rising per capita income in this region. Additionally, increasing awareness of animal healthcare and the growing number of veterinary hospitals and clinics are some of the key growth drivers for these markets.
The global feed software market is fragmented with the presence of many local and regional players. The key players in the global feed software market are PrairiE Systems (U.S.), AFOS (U.S.), Cultura Technologies (Georgia), GlobalVet LINK (FeedLINK) (U.S.), Easy Automation, Inc. (U.S.), Landmark feeds, Inc. (Canada), Supervisor Systems (U.S.), Cargill Incorporated (U.S.), MTech-Systems (Georgia), and Feedlogic Corporation (U.S.).
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