As per PMR analysis, the compound horse feedstuff market was valued at ~US$ 6,862 Mn in 2018, and its sales are highly likely to grow 4% in 2019.
With more products entering the market each year and various companies offering animal-specific feeds, such as horse feed, the animal feed sector is expanding quickly. For many years, horses were given straight feed as a useful source of energy; nevertheless, the lack of fullness in this feed led the way for compound horse feedstuff.
Compound meals have numerous health benefits for horses, which has further prompted experts at Persistence Market Research (PMR) to analyse the market dynamics and future growth potential of the compound horse feedstuff market.
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How are market participants adjusting?
Emphasizing Healthy Ingredients
As the Compound Horse Feedstuff Market becomes more competitive, a number of industry participants have focused on creating a fresh variety of quality-assuring varieties that promise increased productivity. In order to appeal to a large audience with specialised tastes in ingredients, stakeholders are also concentrating on customised products based on needs and trends.
For instance, a leading producer of compound horse feedstuff- Allen & Page, offers authentic non-genetically modified horse feed to cash in on the lucrativeness of the growing non-GMO trend. The rapidly pacing non-GMO feed products trend is highly likely to radically change the big picture of the compound horse feedstuff market in the years to come.
Compound Horse Feedstuff Market Competition Landscape
The global compound horse feedstuff market is moderately consolidated with the leading market players collectively accounting for half of the overall market value share. Leading market players have placed their focus on strengthening backward and forward integration to attain a better position in the highly competitive market landscape.
As an increased number of manufacturers are looking forward to appeal to a growing pool of label-conscious horse breeders and owners, they have laser sharped their focus on offering organic-certified and clean label compound horse feedstuff worldwide. Customized manufacturing of the compound horse feedstuff has emerged as the pivotal growth strategy of companies that are vying to attain a competitive edge in the growing market.
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Analyst’s Viewpoint
The author(s) of the compound horse feedstuff market anticipates a 4% CAGR growth in the compound horse feedstuff market during the foreseeable period owing to the increasing popularity of horse racing events.
With compound horse feedstuff garnering growing traction as the most viable option to suffice the specific and high nutritional requisites of racing horses, the market is highly likely to grow significantly in the years to come. Stakeholders that continue to explore less volatile and label-free ingredients for manufacturing compound horse feedstuff hold high chances of gaining a stronger market stand hold in the forthcoming years.
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FAQ’S:
- What type of compound horse feedstuff witnessed highest traction in 2018?
- How will the North America compound horse feedstuff market evolve during 2019-2029?
- What are the key determinants that are hindering the growth of the compound horse feedstuff market?
- What rate of ROI can compound horse feedstuff market stakeholders expect from using cereals based pellets in the next five years?
- What will be the Y-o-Y growth of compound horse feedstuff market between 2012 and 2025?
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