New York, US, Aug. 25, 2022 (GLOBE NEWSWIRE) -- Market Overview
According to a Comprehensive Research Report by Market Research Future (MRFR), "Cattle Feed Market by Ingredient Type, Additives, Application, and Region - Forecast till 2030”, the market will be worth USD 125.5 Billion by 2030 and esimated to record a compound annual growth rate of 4.3% between 2020 and 2030.
Market Synopsis
Animal feed is a type of food product given to animals, particularly livestock ones. Cattle feed is one of the most important parts of animal agriculture, contributing to the majority of the cost of raising the animals. Farmers work on bringing down the cost of cattle feed food by adding substitutes, like food waste including spent grain derived from beer brewing. Animal wellbeing remains the top priority, as it determines the future of the livestock sector. Animal wellbeing depends vastly on a well-balanced feed rich with nutrients.
The cattle feed market is entering spaces like feed enzymes, feed-acidifiers, feed-microbial, and feed-antibiotics.
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Report Scope:
| Report Attribute | Details |
| 2030 Market Size | USD 125.5 Billion |
| CAGR | 4.3 % (2020–2030) |
| Base Year | 2019 |
| Forecast Period | 2020-2030 |
| Historical Data | 2018 |
| Forecast Units | Value (USD Billion) |
| Report Coverage | Revenue Forecast, Competitive Landscape, Growth Factors, and Trends |
| Segments Covered | by Ingredient Type, Additives, Application, and Region |
| Geographies Covered | North America, Europe, Asia-Pacific, and Rest of the World (RoW) |
| Key Market Drivers | Rising demand for milk and dairy products |
| increase in the organized livestock sector |
Market Competitive Landscape:
The important companies in the cattle feed market include
- ContiBeef LLC (US)
- Cargill Inc. (US)
- Nutreco N.V.(Netherlands)
- DSM N.V.(Netherlands)
- Land O’lakes Inc. (US)
- Archer Daniels Midland Company (US)
- Country Bird Holdings (South Africa)
- New Hope Grou (UK)
- Evonik Industries AG (Germany)
- Kent Corporation (US)
- Charoen Pokphand Group (Thailand)
- Friona Industries (US)
- Godrej Agrovet Limited (India)
- Alltech Inc. (US)
- BASF SE (Germany)
Market USP Covered:
Market Drivers:
The vast market for cattle products such as dairy and meat products, coupled with the exploding population worldwide should be favorable in the long run. The soaring consumer awareness with regard to the high safety level of milk and meat products, and their nutritional content also foster market growth. Cattle are either young ruminants or mature ruminants. Depending on their age, additives such as vitamins, amino acids, antibiotics, feed acidifiers, antioxidants, and feed enzymes are given to them.
Vitamin A, as well as mineral pack products such as 20-10 Plus Mineral and Availa-4, are majorly used for improving reproduction, vision, and immune function while bringing down deficiencies. Cattle feed generally comprises legumes, fodder, silage, grass, and also dry and hay forages. Escalating need for feed for an added nutritive value and better cattle efficiency should boost the market strength worldwide.
Most of the worldwide supply of essential ingredients such as lysine, threonine, and Vitamin B & D is developed in China. Major consumers in Europe and North America were majorly affected by the COVID-19 pandemic owing to delayed exports as well as disruptions in shipping. This led to price hikes owing to supply chain-related bottlenecks.
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Market Restraints:
Cattle feed costs a lot more than any other type of feed product, a factor that brings down its demand in the market. Time-consuming, rigid regulatory policies also discourage the adoption of cattle feed.
With that said, the surging trend of precision nutrition could give rise to attractive opportunities for the players. Investments by government authorities as well as renowned organizations in agriculture allow cattle farmers to adopt more and more cattle feed.
COVID 19 Analysis
The cattle feed market has been significantly affected by the COVID-19 outbreak. Given the pandemic scenario, numerous countries had to go under lockdown, to control the rising cases. Owing to this, the demand and supply chain has been disrupted, which has affected the worldwide market. The infrastructural projects, manufacturing units, industries, and various operations had to be put on hold owing to the pandemic situation.
The volatile costs of raw materials and the challenges brought on by the COVID-19 pandemic have restricted the growth rate of the market. On the bright side, the situation is getting back to normal, which means that the market in the future will see better growth.
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Market Segmentation
Ingredient Type
The ingredient types covered in the report for the cattle feed market include soya beans, cereals & grains, protein meals/cakes, additives, brans, and others. The soya beans segment leads the worldwide market owing to the presence of protein content that is extremely digestible. This has made it an essential ingredient of cattle feed. Other than this, it addresses the lack of isoleucine, threonine, tryptophan, valine, and lysine, which fosters its demand as well.
By Additives
With respect to additives, the cattle feed industry caters to antibiotics, minerals, vitamins, acidifiers, amino acids, enzymes, antioxidants, and others. Out of all the additive-based segments, the lead has been secured by vitamin-based additives and will remain the dominant one even in the years ahead. Cattle feed provides a variety of feeds such as limestone, soybean, and corn, but is unable to meet all the vitamin requirements. This is why vitamin additives are added to fortify the nutritional value of cattle feed.
By Application
The key applications of cattle feed include calves, beef cattle, dairy cattle, and more. Between these, the dairy application is the dominant segment in the market, on account of the surging demand for milk and dairy products, especially in emerging nations.
Regional Insights
North America, with the majority of the share in the worldwide market, stands as the leader. Surging meat consumption, mostly in the U.S., combined with the strict regulations with regard to meat quality has enhanced the regional market size in the last few years. Moreover, the abundant and easy availability of major raw materials, like dextrose and maize also augments the growth rate.
The Asia Pacific will observe the fastest growth from 2020 to 2027, with emerging countries like China and India standing at the vanguard. The rapid increase in cattle inventory in the past decade owing to the booming population as well as the notable surge in meat consumption elevates the demand for cattle feed in the region.
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Market Research Future (MRFR) is a global market research company that takes pride in its services, offering a complete and accurate analysis with regard to diverse markets and consumers worldwide. Market Research Future has the distinguished objective of providing the optimal quality research and granular research to clients. Our market research studies by products, services, technologies, applications, end users, and market players for global, regional, and country level market segments, enable our clients to see more, know more, and do more, which help answer your most important questions.
