Horse Feed Global Market Report 2024

The horse feed market caters to the dietary needs of horses, providing essential energy and nutrition through specially formulated food. Horses are typically fed a fiber-based diet consisting of grass, pasture grass, hay, hay replacement, concentrates like corn, oats, and barley, as well as supplements that include protein and vitamin-mineral supplements.

Key categories in the horse feed market include performance, senior or old, professional, mare and foal, among others. Performance horse feed is tailored for various activities such as walking, trotting, cantering, running, jumping, and turning. It incorporates ingredients like starch, cereal grains (oats, corn, barley), fats (corn and soybean oil, flax, rice bran), protein, and fiber. Nutrition types vary, encompassing high fiber, low starch, high protein, and high fat, with ingredients like cereals, supplements, cakes, meals, and more. Horse feed is available in different forms such as pellets, cubes, and powder. The market is accessible through online sales and traditional retail channels.

The horse feed market research report is one of a series of new reports that provides horse feed market statistics, including global market size, regional shares, competitors with horse feed market share, detailed horse feed market segments, market trends, and opportunities, and any further data you may need to thrive in the horse feed industry. This horse feed market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.

The horse feed market size has grown strongly in recent years. It will grow from $8.16 billion in 2023 to $8.69 billion in 2024 at a compound annual growth rate (CAGR) of 6.5%. The growth in the horse feed market during the historic period can be attributed to factors such as the increase in the equine population, growing interest in equestrian sports and racing, expansion of emerging markets, and a rise in outdoor activities involving horses.

The horse feed market size is expected to see strong growth in the next few years. It will grow to $11.35 billion in 2028 at a compound annual growth rate (CAGR) of 6.9%. The forecasted growth in the horse feed market can be attributed to factors such as the increasing influence of e-commerce and digital marketing, a rise in disposable income, growing participation in recreational activities involving horses, and an aging horse population. Major trends in the forecast period include the adoption of personalized nutrition, the use of nutraceuticals and supplements, a demand for clean label products, the implementation of biosecurity measures, and the integration of smart feeding technologies.

The expanding horse population is playing a pivotal role in driving the growth of the horse feed market. Horses, categorized as four-legged hoofed mammals, necessitate feed for their health and overall development. The nutritional benefits provided by horse feed, including protein, vitamins, calcium, and minerals, contribute to enhancing the well-being and longevity of horses. Notably, the American Horse Council Foundation reported a horse population of 9.2 million in the United States in 2021. This substantial horse population growth is a significant factor anticipated to fuel the horse feed market's expansion in the foreseeable future.

The burgeoning e-commerce industry is poised to be a driving force behind the growth of the horse feed market. E-commerce, defined as the electronic exchange of goods, services, or financial transactions, is proving instrumental in the horse feed sector. It serves as a convenient platform for consumers to explore, compare, and purchase a diverse array of feed products, including specialized and premium options. An illustrative example is the data from September 2022, revealing that consumer e-commerce accounted for 30% of the UK's total retail sector, experiencing a notable increase from 20% in 2020, with an annual e-commerce revenue exceeding $120 billion. The global rise in e-commerce, highlighted by the United Nations Conference on Trade and Development in May 2021, further solidifies its impact, with online retail sales' share of total retail sales increasing from 16% to 19% in 2020. Thus, the expansion of the e-commerce industry stands as a significant driver propelling the growth of the horse feed market.

The horse feed market is witnessing a prominent trend marked by product innovations. Leading market players are directing their focus towards introducing novel and advanced products, including targeted amino acid supplementation, equine microbiome optimization supplements, immunomodulatory nutrition, and veterinary diets tailored for specific equine disease conditions. These innovations aim to enhance the nutritional quality of the feed, improve digestibility, palatability, and positively impact the physiology of horses. In 2021, Saracen Horse Feeds, a prominent UK-based horse feed producer, introduced Saracen RE-LEVE cubes. This product stands out for being low in sugar, devoid of whole cereal and alfalfa, incorporating super fibers and oils as alternative energy sources. Additionally, it includes live yeast to support optimal digestive tract health, encapsulated with a persistent blackcurrant flavor. This emphasis on product innovation underscores a key trend driving the horse feed market's evolution.

Prominent entities in the horse feed market are strategically intensifying their focus on the introduction of high-nutrition feeds, exemplified by products like Mare Prepare, to attain a competitive advantage. Mare Prepare, specifically engineered to enhance fertility, breeding performance, and reproductive recovery in broodmares and stallions, exemplifies this strategic move. In a notable instance, Bluegrass Horse Feed, a UK-based feed manufacturing company, introduced Mare Prepare in February 2023. Developed in collaboration with Kentucky Equine Research, this feed provides scientifically researched support to broodmares, particularly those facing fertility challenges, with the aim of producing healthy foals. The formulation of Mare Prepare is tailored to elevate breeding performance and reproductive recovery, positioning it as an optimal choice for participants in the horse breeding industry.

In a strategic development observed in January 2022, Sunrice Group, an Australia-based feed company, executed the acquisition of Pryde’s EasiFeed for a significant sum of $38 million. The CopRice line of horse feed, owned by Sunrice Group, sought to expand its business scale and diversify into new geographic regions through this strategic acquisition. Pryde’s EasiFeed, the acquired entity, is an Australia-based company specializing in the production of horse feed. This strategic move aligns with CopRice's overarching objectives of business expansion and geographic diversification within the horse feed market.

Major companies operating in the horse feed market include Allen And Page Ltd., Baileys Horse Feeds, Big V Feeds Inc., Cargill Incorporated, Equifirst Private Limited, Farmvet Agro Private Limited, ForFarmers N.V., HorseTech Nutrition, Purina Animal Nutrition LLC, Rowen Barbary Ltd., Triple Crown Nutrition Inc., West Feeds Inc., A-One Feed Supplements Ltd., Glanbia PLC., Hubbard Feeds Inc., Jupe Feeds Incorporated, Cavalor LLC, WES Enterprises L.P., Nutrena World Feeds, ADM Animal Nutrition, Blue Seal Feeds, Buckeye Nutrition, Country Acres Feed, Farnam Companies Inc., Hallway Feeds, Kalmbach Feeds Inc., Kent Nutrition Group, LMF Feeds Inc., Manna Pro Products LLC, McCauley Bros Inc., Tuffy's Pet Foods, Poulin Grain Inc., Progressive Nutrition, Semican Inc., Southern States Cooperative Inc., Standlee Premium Western Forage, Tribute Equine Nutrition

Asia-Pacific was the largest region in the horse feed market in 2023. The regions covered in the horse feed market analysis report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.

The countries covered in the horse feed market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.

The horse feed market consists of sales of molasses, beet pulp, wheat, rice bran, soyabean meal. Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.


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