Australia Animal Feed Market Report and Forecast 2024-2032

Australia Animal Feed Market Size

The Australia animal feed market is projected to grow at a CAGR of 3.50% between 2024 and 2032.

Australia Animal Feed Market Outlook

• The red meat sector in Australia consists of about 73,000 business of various sizes.

• In 2022, the per capita consumption of beef in Australia was approximately 23.7kg.

• The livestock export from Australia provides over AUD 1.6 billion to the economy.

Australia Animal Feed Market Growth

The growing population and moderating cost of living pressures in Australia support the growth of pork and beef consumption, further aiding the animal feed market growth in the country.  Australia boasts 1.5% of the global cattle herd and 5% of the global sheep flock. An estimated 38% of Australian farm businesses are divided as broadacre livestock farms (33,500 farms), of which 19,400 are beef specialists, 10,400 are sheep specialists, and about 3,600 produce a mix of beef cattle and sheep.

Soybean, a key raw material for animal feed production, plays a key role in many farming systems as a rotation crop across eastern Australia by improving soil fertility and as a disease break. In FY 2022/2023, Australia produced 42 thousand tons of soybean in an area of 21 thousand Ha.

In 2021-2022, New South Wales (28%), Victoria (24%) and Queensland (21%), Western Australia (13.7%), South Australia (8.5%), Tasmania (3%), and the Northern Territory (1%) represented the total red meat and livestock sector turnover.   Australia continues to be a top meat-consuming country globally, with around 44.84 kilos of poultry per capita on average in 2023. The increasing importance of meat-based proteins is leading to a greater demand for livestock production, further aiding the Australian animal feed market growth.

Australia Animal Feed Industry Segmentation

Australia Animal Feed Market Report and Forecast 2024-2032 offers a detailed analysis of the market based on the following segments:

Market Breakup by Type

• Fodder and Forage

• Compound Feed 

Market Breakup by Livestock

• Pork

• Aquatic Animal

• Cattle

• Poultry

• Others

Market Breakup by Raw Material

• Soy

• Corn

• Others

Australia Animal Feed Market Share

Based on raw material, the market is divided into soy and corn, among others. Corn is increasingly preferred for animal feed because of the high energy and feed value of the kernel, leaf and stem, and their increasing cultivation.

Leading Companies in the Australia Animal Feed Market

The report provides a detailed analysis of the following key players in the market, covering their competitive landscape and latest developments like mergers and acquisitions, investments, and product launches.

• Alltech Inc

• Nutreco N.V.

• Archer-Daniels-Midland Company

• Ridley Corporation Limited

• Reid Stockfeeds

• Milne AgriGroup

• Aus Organic Feeds Pty Ltd

• Harwood Grains Pty Ltd

• Hyfeed Holdings Pty Ltd

• Castlereagh Feeds

• Others

The market players are engaged in offering new products, along with other business strategies aimed at increasing their market share and gaining a competitive edge.

Key Highlights of the Report