Saudi Arabia Animal Feed Market Report, by Ingredient, By Livestock – Opportunities & Forecast, 2021-2028
Saudi Arabia Animal Feed Market
The analysis by GMI Research projects that the Saudi
Arabia Animal feed market will expand at a rate of 5.93% over the forecast
period. This is attributed to the surging consumption of raw and refined meat
along with the rising health awareness among consumers.
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Saudi
Arabia Animal feed market Dynamics
The intensified initiative by the government to encourage
local manufacturers is a standalone force responsible for the growth of the
animal feed market. Also, as per the Saudi
Arabia Animal feed market forecasts, the growing demand for highly
nutritious and sustaining animal feed has strengthened the market growth. The
Saudi Arabian Government in 2019 has offered import endowments for 31 livestock
feed ingredients, including corn gluten feed and distiller grains with soluble
to minimize the cost of producing livestock products such as table eggs, dairy,
and poultry meat. Moreover, the government launched several agencies such as
the Saudi Food and Drug Authority (SFDA) and Grain Silos and Flour Mills
Organization to promote the global growth of animal feed ingredients, thereby
fuelling the Saudi Arabia Animal feed market size. The SFDA is
accountable for introducing norms, standards, and licensing concerned with
processed as well as unprocessed animal feed products. Further, the Saudi Food
and Drug Authority is also answerable for food security norms and labelling
needs of imported and domestically produced goods.
ARAUCO, The largest animal feed processor, produces various
poultry, livestock, and aqua feed in Saudi Arabia. The production ability of
ARAUCO is nearly 4 million metric tonnes per annum. The company in 2020 traded
its wafi brand feed for 20% less than the barley price to assist livestock
producers in feeding Wafi.
Livestock
Segment Drivers
The poultry segment is likely to witness robust growth over
the forecast period by livestock. This is because of the rising consumption of
poultry meat compared to other animal protein alternatives. As per the OECD,
the consumption of poultry meat was recorded as 1,373.8 thousand tonnes in
2020, which has substantially increased over 2019. Moreover, the Saudi
Arabia Animal feed market report projects that the consumption of poultry
meat consumption will reach 1,543.8 thousand tonnes by 2029. The government
helps poultry farms to raise the production of local chicken meat and is
intended to reach over 60 percent of consumption by the end of 2020.
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