Dublin, Jan. 25, 2023 (GLOBE NEWSWIRE) -- The "Cattle Feed & Feed Additives Global Market Report 2022: Ukraine-Russia War Impact" report has been added to ResearchAndMarkets.com's offering.
The global cattle feed and feed additives market is expected to grow from $ 53.33 billion in 2021 to $ 57.01 billion in 2022 at a compound annual growth rate (CAGR) of 6.9%. The cattle feed and feed additives market is expected to reach $ 64.98 billion in 2026 at a CAGR of 3.3%.
The main types of ingredients in cattle feed and feed additives are corn, soybean meal, wheat, oil seeds, grains, and others. Corn is used as livestock feed, biofuel, and raw material in the farm industry. Corn is a tall American cereal grass plant widely grown for its large ears of starchy grain, which come in wide varieties. The different products include antibiotics, vitamins, antioxidants, amino acids, feed enzymes, and acidifiers and involve various applications such as beef cattle, dairy cattle, and more.
Asia Pacific was the largest region in the cattle feed and feed additives market in 2021. The regions covered in the cattle feed & feed additives market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
The growing livestock and animal husbandry industry is expected to propel the growth of the cattle feed and feed additives market going forward. Livestock refers to cattle, sheep, horses, goats, and other domestic animals ordinarily raised on a farm. Cattle feed and feed additives are used on farms for raising livestock and animals, which helps to add nutrients to their food and aids their faster growth.
For instance, according to data by Eurostat, a Luxemburg-based Directorate-General of the European Commission, in the 2021 political and economic union of 27 European nations, the livestock population of Europe is valued at 297 million, which is 146 million pigs, 76 million bovine animals, and 75 million sheep and goats. Furthermore, according to Business Line, an India-based newspaper, for the year 2019, animal husbandry, dairy, and fishing were valued at 8.6% in India. Also, the milch cattle population increased by 10.5 % to 74.6 million in 2019, and it was expected to increase by 60% by 2030. Therefore, the growing livestock and animal husbandry are driving the growth of the cattle feed and feed additives market.
Technological advancements are a key trend gaining popularity in the cattle feed and feed additive market. Major companies operating in the cattle feed and feed additives sectors are focused on introducing new technologies to reinforce their position.
For instance, in June 2021, Charoen Pokphand Foods PCL, a Thailand-based agro-industrial company, developed a unique feed formula that contains microorganisms and improves the digestive systems of farm animals through animal food that fits different ages and types of animals. This probiotic technology keeps animals healthy and strong without the use of growth hormones or antibiotics. The product also protects animals from diseases and improves immunity.
Reasons to Purchase
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- Assessment of Russia - War Impact on agriculture, energy and mineral commodities supply and their direct and indirect impact on the market analyzed in the report.
- Impact of high global inflation on market growth.
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Key Topics Covered:
A selection of companies mentioned in this report includes
- Adisseo France S.A.S
- Archer Daniels Midland company
- BASF SE
- Biomin
- Cargill Incorporated
For more information about this report visit https://www.researchandmarkets.com/r/g61tq4-feed-and?w=12
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