U.S.: Market for Preparations Used In Animal Feeding 2024

Market Size for Preparations Used In Animal Feeding in the U.S.

For the third year in a row, the U.S. preparations for animal feeding market recorded growth in sales value, which increased by 0.9% to $X in 2022. Overall, consumption, however, saw a slight slump. As a result, consumption attained the peak level of $X. From 2014 to 2022, the growth of the market remained at a somewhat lower figure.

Production of Preparations Used In Animal Feeding in the U.S.

In value terms, preparations for animal feeding production reached $X in 2022. Overall, production saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2013 when the production volume increased by 5.1% against the previous year. Over the period under review, production hit record highs at $X in 2020; however, from 2021 to 2022, production failed to regain momentum.

Exports of Preparations Used In Animal Feeding

Exports from the U.S.

In 2022, after two years of growth, there was significant decline in overseas shipments of preparations used in animal feeding, when their volume decreased by -7.1% to X tons. The total export volume increased at an average annual rate of +1.1% over the period from 2012 to 2022; the trend pattern remained relatively stable, with somewhat noticeable fluctuations being recorded throughout the analyzed period. The pace of growth was the most pronounced in 2016 when exports increased by 15%. The exports peaked at X tons in 2021, and then shrank in the following year.

In value terms, preparations for animal feeding exports surged to $X in 2022. In general, total exports indicated notable growth from 2012 to 2022: its value increased at an average annual rate of +4.9% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +64.6% against 2015 indices. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

Exports by Country

Canada (X tons) was the main destination for preparations for animal feeding exports from the United States, accounting for a 27% share of total exports. Moreover, preparations for animal feeding exports to Canada exceeded the volume sent to the second major destination, South Korea (X tons), threefold. China (X tons) ranked third in terms of total exports with a 10% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to Canada amounted to +2.6%. Exports to the other major destinations recorded the following average annual rates of exports growth: South Korea (+3.2% per year) and China (+2.5% per year).

In value terms, Canada ($X) remains the key foreign market for preparations used in animal feeding exports from the United States, comprising 33% of total exports. The second position in the ranking was held by China ($X), with an 11% share of total exports. It was followed by Mexico, with an 8.5% share.

From 2012 to 2022, the average annual growth rate of value to Canada amounted to +6.3%. Exports to the other major destinations recorded the following average annual rates of exports growth: China (+10.9% per year) and Mexico (+9.9% per year).

Export Prices by Country

The average preparations for animal feeding export price stood at $X per ton in 2022, jumping by 24% against the previous year. Over the last decade, it increased at an average annual rate of +3.8%. As a result, the export price attained the peak level and is likely to continue growth in the immediate term.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Australia ($X per ton), while the average price for exports to Trinidad and Tobago ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to China (+8.1%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Preparations Used In Animal Feeding

Imports into the U.S.

In 2022, purchases abroad of preparations used in animal feeding increased by 5.1% to X tons, rising for the fifth year in a row after two years of decline. Over the period under review, total imports indicated a moderate expansion from 2012 to 2022: its volume increased at an average annual rate of +3.7% 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 +60.5% against 2017 indices. The pace of growth was the most pronounced in 2015 with an increase of 39%. Over the period under review, imports reached the peak figure in 2022 and are expected to retain growth in the near future.

In value terms, preparations for animal feeding imports surged to $X in 2022. In general, imports showed strong growth. The most prominent rate of growth was recorded in 2021 with an increase of 29% against the previous year. Over the period under review, imports reached the peak figure in 2022 and are expected to retain growth in the near future.

Imports by Country

Canada (X tons), Thailand (X tons) and Indonesia (X tons) were the main suppliers of preparations for animal feeding imports to the United States, with a combined 52% share of total imports. Malaysia, China, Spain, Italy, the Netherlands, Germany, Mexico, Ecuador, France and Ireland lagged somewhat behind, together comprising a further 39%.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Ecuador (with a CAGR of +128.4%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Thailand ($X), Canada ($X) and China ($X) were the largest preparations for animal feeding suppliers to the United States, together accounting for 58% of total imports. France, Germany, Malaysia, Indonesia, Mexico, Italy, Spain, the Netherlands, Ireland and Ecuador lagged somewhat behind, together comprising a further 24%.

Among the main suppliers, Ecuador, with a CAGR of +104.2%, saw the highest rates of growth with regard to the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average preparations for animal feeding import price stood at $X per ton in 2022, jumping by 19% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +4.9%. The pace of growth appeared the most rapid in 2014 when the average import price increased by 22%. Over the period under review, average import prices attained the maximum in 2022 and is likely to see steady growth in the immediate term.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was France ($X per ton), while the price for Ecuador ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Mexico (+9.8%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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