WELLESLEY, Mass., Nov. 29, 2017 (GLOBE NEWSWIRE) -- Improved standards of living and increased disposable incomes are increasing consumption of meat and dairy products. These key market factors helped increase volume sales in 2017 as cattle and dairy producers bought feed at higher rates that included compound and total nutrition feeds. In a new report, Cattle Feed and Feed Additives: Global Markets to 2022, BCC Research estimates the global market will grow from $31.3 billion in 2017 to $34.2 billion in 2022 at a compound annual growth rate (CAGR) of 1.8%.
The study provides information about cattle populations and operations, ingredient trends, pricing volatility, market trends, key players and offers an overview of feed ingredients and by-products used in the simple or complex blend of cattle/cow feed.
In recent years, commodity pricing has returned to near pre-recession levels, increasing volume purchases that have slowed market growth. However, consumers’ growing preference for healthier and more balanced diets has strengthened the trend toward natural and organic food, creating a niche market opportunity for suppliers.
Research Highlights
- More than 60% of operation costs for cattle and dairy farms involve feed costs.
- The feed ingredient market for cattle feed represents between 19% and 20% of the total feed ingredient market (2017).
- Asia-Pacific will continue as the largest market for cattle feed, utilizing more than 67 million metric tons and revenues reaching $11.0 billion.
“The value for feed additives in cattle has slowly declined due to increasing competition and pricing considerations, as well as a reduction in antibiotic feed additive use to growing government oversight and regulations. The phasing out of antibiotics as feed additives continues to impact the market and will continue as a key issue," said Melissa Elder, BCC Research analyst and author of the report. "The market for additives in 2017 is expected to decline compared with 2016. However, volume levels were up in 2017, correlating with price impact and competition in the marketplace. By 2022, additives are expected to total about $1.9 billion, reflecting a compound annual decline in market value of 1.4% from $2.1 billion in 2017.”
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Cattle Feed and Feed Additives: Global Markets to 2022. (FOD074A)
Publish Date: Nov 2017
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