Northern America: Animal Feed Market 2024

Animal Feed Market Size in Northern America

The North American animal feed market totaled $X in 2022, approximately equating the previous year. Over the period under review, consumption continues to indicate a relatively flat trend pattern. The pace of growth appeared the most rapid in 2018 when the market value increased by 6.2% against the previous year. Over the period under review, the market hit record highs at $X in 2012; however, from 2013 to 2022, consumption failed to regain momentum.

Animal Feed Production in Northern America

In value terms, animal feed production dropped modestly to $X in 2022 estimated in export price. The total output value increased at an average annual rate of +2.0% from 2012 to 2022; however, the trend pattern remained consistent, with only minor fluctuations in certain years. The pace of growth was the most pronounced in 2018 when the production volume increased by 6% against the previous year. Over the period under review, production hit record highs at $X in 2019; however, from 2020 to 2022, production stood at a somewhat lower figure.

Animal Feed Exports

Exports in Northern America

In 2022, exports of animal and pet feed in Northern America dropped to X tons, with a decrease of -10.9% against the year before. Overall, exports recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2016 when exports increased by 23% against the previous year. The volume of export peaked at X tons in 2018; however, from 2019 to 2022, the exports stood at a somewhat lower figure.

In value terms, animal feed exports expanded sharply to $X in 2022. The total export value increased at an average annual rate of +2.9% from 2012 to 2022; the trend pattern remained relatively stable, with only minor fluctuations being recorded throughout the analyzed period. The pace of growth appeared the most rapid in 2013 when exports increased by 10%. Over the period under review, the exports attained the peak figure in 2022 and are likely to see steady growth in years to come.

Exports by Country

The United States represented the major exporter of animal and pet feed in Northern America, with the volume of exports reaching X tons, which was approx. 88% of total exports in 2022. It was distantly followed by Canada (X tons), making up a 12% share of total exports.

The United States experienced a relatively flat trend pattern with regard to volume of exports of animal and pet feed. Canada (-1.6%) illustrated a downward trend over the same period. The shares of the largest exporters remained relatively stable throughout the analyzed period.

In value terms, the United States ($X) remains the largest animal feed supplier in Northern America, comprising 86% of total exports. The second position in the ranking was taken by Canada ($X), with a 14% share of total exports.

In the United States, animal feed exports expanded at an average annual rate of +3.0% over the period from 2012-2022.

Export Prices by Country

The export price in Northern America stood at $X per ton in 2022, with an increase of 24% against the previous year. Over the last decade, it increased at an average annual rate of +3.5%. As a result, the export price reached the peak level and is likely to continue growth in the immediate term.

Average prices varied noticeably amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was Canada ($X per ton), while the United States amounted to $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Canada (+4.5%).

Animal Feed Imports

Imports in Northern America

After four years of growth, supplies from abroad of animal and pet feed decreased by -4.8% to X tons in 2022. Overall, imports, however, showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 with an increase of 24% against the previous year. As a result, imports reached the peak of X tons, and then shrank modestly in the following year.

In value terms, animal feed imports expanded remarkably to $X in 2022. Total imports indicated buoyant growth from 2012 to 2022: its value increased at an average annual rate of +5.2% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +76.2% against 2016 indices. The most prominent rate of growth was recorded in 2021 when imports increased by 33% against the previous year. Over the period under review, imports attained the maximum in 2022 and are expected to retain growth in the immediate term.

Imports by Country

In 2022, the United States (X tons) was the main importer of animal and pet feed, comprising 68% of total imports. It was distantly followed by Canada (X tons), committing a 32% share of total imports.

The United States experienced a relatively flat trend pattern with regard to volume of imports of animal and pet feed. At the same time, Canada (+1.4%) displayed positive paces of growth. Moreover, Canada emerged as the fastest-growing importer imported in Northern America, with a CAGR of +1.4% from 2012-2022. From 2012 to 2022, the share of Canada increased by +2.4 percentage points.

In value terms, the United States ($X) constitutes the largest market for imported animal and pet feed in Northern America, comprising 71% of total imports. The second position in the ranking was taken by Canada ($X), with a 28% share of total imports.

In the United States, animal feed imports expanded at an average annual rate of +6.1% over the period from 2012-2022.

Import Prices by Country

In 2022, the import price in Northern America amounted to $X per ton, rising by 13% against the previous year. Over the last decade, it increased at an average annual rate of +4.6%. The growth pace was the most rapid in 2013 an increase of 34% against the previous year. The level of import peaked in 2022 and is likely to see gradual growth in years to come.

Average prices varied noticeably amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was the United States ($X per ton), while Canada totaled $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the United States (+5.8%).

Source: IndexBox Platform

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