Persistence Market Research published a report on the compound horse feedstuff market, which includes the global industry analysis 2014–2018 and opportunity assessment 2019–2029. It projects that the compound horse feedstuff market is expected to reach ~ US$ 7.1 Bn by the end of 2019 and is forecasted to reach ~ US$ 10.1 Bn by the end of 2029, in terms of value.
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Compound Horse Feedstuff Market
Limited Nutrients in Straight Feed Opening up New Avenues for Compound Horse Feedstuff
Straight feed provided to horses is a relevant source of energy but it is also an incomplete feed as it does not contain all the necessary nutrients required by horses. The major drawback for straight feed is that it lacks the perfect balance of vitamins, minerals, and protein. This resultant imbalance in horse diet, affects the energy levels and eventually overall functioning of horses. On the contrary, compound feedstuff is a mixture of nutritionally rich ingredients including wheat, barley, maize, and other supplements. Horse owners and other customers are preferring compound horse feedstuff over straight feed as it fulfills the complete nutritional requirements of horses.
Compound horse feed contains diverse ingredients such as wheat, maize, soya, barley, and others. All these ingredients possess different health benefits, which are essential for horses at various life stages. For example, barley is suitable for horses, which require extra body conditioning, whereas maize is a very energy-dense feed, which should be fed to hard-working horses. Other than ingredients, compound feedstuff also consists of different vitamin and mineral supplements to enhance the nutrient value of the horse feed. Vitamins are essential nutrients for horses as these protect their bodies from oxidation and harmful compounds. Hence, the numerous nutritional advantages of compound horse feedstuff are swaying horse owners towards compound horse feedstuff over straight horse feed.
Equestrian Sports a Decisive Leverage for Compound Horse Feedstuff
Equestrian sports are among the popular sporting events across the world especially in developed regions. Horse racing, dressage, eventing, endurance riding, and others are some of the major horse sports and also played at the international level. Since equestrian sports include rigorous competitiveness, there’s increased demand for impeccable racing horses among customers. The nutritional needs of these horses are very specific and high, for which, compound horse feedstuff is the most viable option. Compound horse feedstuff is capable of enhancing the performance and meeting the high energy requirement of horses, which benefits equestrian sports.
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Higher Demand for Protein-Enriched Feed Fueling the Compound Horse Feedstuff Market Growth
Protein is among the most essential nutrients for equine health. As equine feed is segmented according to work and life stage, protein requirement also varies. For example, a mature horse for heavy work needs 2 pounds of protein, whereas a mature horse with moderate work requires 1.4 pounds. Inclusion of protein in horse diet enhances the functions of a horse during growth, reproduction, athletic performance, and muscle building. Compound horse feedstuff contains all essential amino acids, which complete the quality protein requirement of all types of horses. Hence, the demand for protein feedstuff is firmly supporting the growth of the compound horse feedstuff market.