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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GMI Research is a market research and consulting firm which provides market insights and intelligence across 12 major sectors helping our clients in making effective investment and business decisions.

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