Since the last decade, growing number of firms began to offer software targeted for use in feed formulation, feed management, ration balancing, and quality control of the feed. In order to improve overall feed management, the importance of excellent feed software has increased significantly.
While overall animal health marketplace has continued to grow and has affected almost all veterinary practices, there have been indications that the information technology systems can have a very positive effect on improving the feed management by reducing the feed production costs. Feed production costs remain the single largest expense in the livestock sector. In a typical year, feed equates to approximately half of total enterprise costs. As such, it is important to minimize feed costs, without hindering production. Feed software reduce feed production cost by enhancing pasture productivity, analyzing forages, incorporating alternative feeds, utilizing a ration balancing program, and minimizing wastes. Therefore, with the growing animal population and increasing requirements for animal performance, physical characteristics, quality and functionality, and profitability of the feed manufacturing enterprise; the adoption of feed software is expected to increase significantly in the next few years.
The global market for feed software will increase at a CAGR of 6.2% from 2017 to 2022 to reach USD 281.9 million by 2022, driven by the growing demand for inclusion of enzymes in feed and quality management, growing animal population, increasing demand for healthy animal food products, growing animal health expenditure and pet insurance, and reduction in feed production cost. However, shortage of veterinarians in emerging markets and low animal health awareness in developing countries is expected to hinder the growth of the market to some extent.
This report analyzes the global feed software market size for 2015, 2016, and 2017, with a forecast till 2022 by software delivery mode (on-premises, and web/cloud based), animal type (ruminants, swine, and poultry), application (feed formulation, feed management, ration balancing, and quality control), end user (feed producers, animal farmers, nutrition consultants, and veterinarians), and geography (North America, Europe, Asia-Pacific, Latin America, and Middle East and Africa).
North America was the largest market in the global feed software market, followed by Europe, and Asia-Pacific in 2016. However, Asian countries are slated to register the highest growth, at a CAGR of 7.0% during the forecast period, primarily due to increasing investments by the major players in this region.
The global feed software market is fragmented with the presence of many local and regional players. The key players in the global feed software market are PrairiE Systems (U.S.), AFOS (U.S.), Cultura Technologies (Georgia), GlobalVet LINK (FeedLINK) (U.S.), Easy Automation, Inc. (U.S.), Landmark feeds, Inc. (Canada), Supervisor Systems (U.S.), Cargill Incorporated (U.S.), MTech-Systems (Georgia), and Feedlogic Corporation (U.S.)