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(MoneyNewsWire.Net, May 17, 2018 ) The global automatic feeding market is estimated at USD 4.37 Billion in 2017 and is projected to reach USD 6.30 Billion by 2022, growing at a CAGR of 7.5% during the forecast period. The primary factors that drive the automatic feeding market are increasing consumption of meat and dairy products and benefits of automation for farmers in the livestock industry.
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The increase in the number of consumers for meat and dairy products across the globe has led to an increased interest among the farmers to use automatic feeding equipment for livestock to reduce labor and increase the productivity of the animals due to precise and proper feed delivery on time. The major restraining factor for the market is the lack of standardization of automatic feeding systems.
The automatic feeding market is segmented on the basis of feeding line, individual feeding equipment, livestock, feed, and region. On the basis of feeding line, the distributors segment dominated the global automatic feeding market, followed by the conveyors segment, in 2016. Two different types of equipment are used for distribution of feed among livestock rail-guided feed wagon and self-propelled feeder. Automatic feeding equipment help to provide feed at precise and regular intervals to animals.
On the basis of individual feeding equipment, the equine feeder segment accounted for the largest market share in 2016. Famers are increasingly concerned about the health of animals as proper feed is required for the better development and growth of the animals. Automatic equine feeders are easy to use, save time, and offer accuracy. They also help farmers to feed horses and stags efficiently and improve the health of equine.
The automatic feeding market, by livestock, is segmented into poultry, swine, equine, ruminants and fish. The ruminants segment accounted for the largest market share in 2016. Automatic feeding helps farmers to provide feed according to the requirements of the ruminants and helps to maintain a large herd. Ruminants are a source of milk and meat, and the quality of these products depends not only on the quality of the feed used but also on the efficiency and precision of the feeding process.
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The European region is projected to dominate the largest market share, followed by the North American region, through 2022. The North American region is projected to be the fastest-growing automatic feeding market during the forecast period. This is mainly due to farm owners and farmers in the North American region who are looking to boost the automatic feeding market to address the growing demand from consumers for dairy and meat products. This has resulted in the innovation of various automatic feeding equipment such as individual feeders and group feeders by various companies in the global market.
High set up cost is one of the major restraining factors for the market. Feeding systems require high initial investments, efficient management tools, and skilled and knowledgeable farmers for uninterrupted and effective use. Most small & medium size farms do not have the capital required to invest in such automatic feeding equipment, thus restraining the growth of this market.
AGCO Corporation (US) is likely to emerge as a leading market player in the automatic feeding market in the coming years, owing to its line of various automatic feeding equipment. The major players in automatic feeding market are AGCO Corporation (US), GEA (Germany), Delaval Holding (Sweden), Big Dutchman (US), and Kuhn (France).
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