Global animal feed market projected to reach USD 328.36 billion by 2032

The global animal feed market is projected to grow from USD 196.92 billion in 2024 to USD 328.36 billion by 2032. This growth represents a compound annual growth rate (CAGR) of 6.60% during the forecast period of 2025 to 2032, driven primarily by rising global demand for animal protein.

The market is segmented by livestock type—including poultry, swine, ruminants, and aquaculture—as well as by ingredients such as cereal grains, oilseeds, and fish meal. Feed is also categorized by form, such as pellets, mash, and crumbles. Key industry players include Cargill, Archer Daniels Midland Company, and Land O'Lakes Inc.