Bangladesh Animal Feed Market Report and Forecast 2024-2032

Bangladesh Animal Feed Market Size

The Bangladesh animal feed market is projected to grow at a CAGR of 8.70% between 2024 and 2032.

Bangladesh Animal Feed Market Outlook

• In MY 2023/2024, Bangladesh produced 145 tons of soybean in a cultivated area of 80 Ha.

• In Bangladesh, approximately 20% of the population earns their livelihood through work associated with raising cattle and poultry.

• The significant livestock population in Bangladesh, is contributing to a growing demand for animal feed for improved meat quality.

Bangladesh Animal Feed Market Growth

Bangladesh is one among the largest densely populated countries in the world, with a population of 150 million and the current population growth rate of 1.50% per annum. Agriculture and livestock play a key role in the economic development of the country. In 2021, the cattle population in Bangladesh was 2nd among the SAARC countries and 7th among the Asian countries . During FY 2021-22, Bangladesh had a livestock population of more than 43 crores, with 5 crores 67 lakhs of cattle, buffaloes, sheep, and goats, and 37 crores 56 lakhs of poultry.

Soybean is gaining popularity as a cash crop in Bangladesh. It is majorly cultivated in the southern belt, including Noakhali and Lakshmipur districts in Chattagram Division, and Pirojpur, Patuakhali, Bhola, and districts in the Barishal Division. The domestically produced soybeans in the country is predominantly used in feed production.

Commercial poultry farms in Bangladesh are expanding their businesses. The private feed companies have started contract farming for the production of poultry. Moreover, there is a growing use of formulated feed in aquaculture production in the country. The growing adoption of meat-based protein among the rising population in Bangladesh is significantly leading to a demand for animal feed, for enhancing the nutrient profile of the livestock, thereby supporting the market growth.

Bangladesh Animal Feed Industry Segmentation

Bangladesh 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

Bangladesh Animal Feed Market Share

Based on livestock, the market is divided into pork, aquatic animal, cattle, and poultry, among others. The cattle segment is anticipated to grow significantly with the growing demand for beef from the large Muslim population, rising demand for dairy products, and increasing awareness regarding the health benefits of meat.

Leading Companies in the Bangladesh 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.

• New Hope Liuhe Co., Ltd

• Quality Feeds Ltd

• AGATA Feed Mills Ltd

• Astha Feed

• Aftab Feed Products Ltd

• Paragon Feed Limited

• Others

The market players are increasing their production capacity, launching new feed products, and investing in research and development.

Key Highlights of the Report