New York, USA, May 02, 2023 (GLOBE NEWSWIRE) -- Cattle Feed Market Overview:
Market Research Future (MRFR) 's report highlights “Cattle Feed Market Research Report Information By Ingredient type, By Application, And By Region – Market Forecast Till 2030”, the market is projected to expand up to USD 104.18 billion by 2030, exhibiting a CAGR of 3.92% during the forecast period (2023 - 2030).
Market Scope:
In animal husbandry, cattle feed is a crucial component that accounts for the bulk of animal-rearing expenses. Farmers typically work to lower the price of this food by supplementing costly feeds with cheaper alternatives, including food waste or leftover barley from making beer.
COVID-19 Analysis:
Although the demand for animal feed has remained fairly steady in 2020, the coronavirus pandemic has had a significant impact on the supply. Many nations have implemented numerous measures affecting individuals, corporations, factories, industries, and even consumers to slow the spread of the illness. Wheat, soybean, and maize will all likely be used less in animal feed, according to researchers. Fish and meat consumption have substantially decreased over the world.
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Report Scope:
| Report Attribute | Details |
| Market Size | USD 104.18 Billion |
| CAGR | 3.92% (2023 to 2030) |
| Base Year | 2022 |
| Forecast Period | 2023–2030 |
| Historical Data | 2019-2021 |
| Forecast Units | Value (USD Billion) |
| Report Coverage | Revenue Forecast, Competitive Landscape, Growth Factors, and Trends |
| Segments Covered | By Ingredients Type, Applications, and Region |
| Geographies Covered | North America, Europe, Asia-Pacific, and Rest of the World (RoW) |
| Key Market Drivers | Expanding the industrialization of livestock production in developing nations |
Competitive Dynamics:
One of the main business tactics manufacturers employ in the Cattle Feed industry to benefit customers and broaden the market sector is local manufacturing to cut operational costs. Some of the most important advantages for medicine in recent years have come from the cattle feed sector.
The Cattle Feed market’s major players include
- Land O’lakes Inc. (US)
- BASF SE (Germany),
- Cargill Inc. (US),
- Nutreco N.V.(Netherlands),
- DSM N.V.(Netherlands),
- Charoen Pokphand Group (Thailand),
- New Hope Grou (UK),
- Archer Daniels Midland Company (US),
- Country Bird Holdings (South Africa)
- Alltech Inc. (US)
- Godrej Agrovet Limited (India)
- Kent Corporation (US)
- Friona Industries (US)
- ContiBeef LLC (US)
- Evonik Industries AG (Germany)
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Market USP:
Market Drivers
The welfare of the animals is one of the main factors influencing the future of the livestock sector. A well-balanced diet is crucial for the wellness of animals. Along with the bovine feed sector, the market for feed acidifiers, enzymes, antibiotics, and microbials is expanding. The increased intake of meat protein and the increased value put on premium feed components are connected to the demand for these developments. Dairy and meat cattle are the two main classifications of cattle.
As milk producers convert from conventional cow feed to more nutritionally balanced compound feed as they become aware of the true benefits of nutritional feed in terms of improved output, the market for cattle feed is growing significantly. The livestock sector has been growing at a never-before-seen rate in recent decades, making it the most significant part of agricultural growth in Asia.
Due to population expansion, improving living standards, and a sharp increase in the consumption of animal products, the livestock business has been obliged to adapt and expand in order to satisfy society's expectations by supplying good animal feed to livestock animals. As a result, this aspect encourages the growth of the market for cattle feed and has recently increased the CAGR of the global cow feed market.
Market Limitations
However, it is anticipated that fewer limitations for basic commodities throughout the world will increase product demand.
Market Segmentation:
Ingredient Type Insights
In terms of revenue for the Cattle Feed market in 2022, the Cereals & Grains sector had the largest share. A number of significant grain producers, like Cargill, Inc. and BASF SE, are integrated along the value chain to offer ingredients for feed, serve as a one-stop shop for manufacturers, and save costs related to procurement and shipping. The growing demand for dairy and milk products in emerging nations, which has sped up industrialisation in cow farming, is to blame for the segment's rise.
Application Insights
During the projection period of 2022–2030, the segment of dairy cattle is expected to develop the fastest. This category led the market in 2022. In order to fulfill the nutritional and gustatory demands of the populous in emerging countries, as well as the growing population, livestock production has grown increasingly industrialized. Cattle farming has always been a backyard activity in poor countries. Due to demand and greater understanding of the economies of scale that can be attained by keeping bigger herd implants for Cattle Feed, the practice of growing cattle in these countries has started to alter, which is helping the market's expansion.
Browse In-depth Market Research Report (110 Pages) on Cattle Feed Market: https://www.marketresearchfuture.com/reports/cattle-feed-market-3212
Regional Analysis:
The market for cattle feed in North America, which had sales of USD 36.4568 billion in 2022, is anticipated to increase at a considerable CAGR throughout the research period. As the population expands, there is an increasing demand for cow feed. Due to the substantial size and demand of its livestock business, the United States is one of the top manufacturers and exporters of cattle feed in the world. Although the area produces and consumes more cattle feed each year, it still controls a substantial percentage of the global cow feed industry. The region is unique due to the prevalence of large international firms like Cargill Inc. in the cattle feed sector. In the United States and Canada, well-known brands include Land O'Lakes and ADM.
The second-largest market share belongs to the cattle feed market in Europe. The 330 feed mills in Germany will help the European market grow. In addition, pig and beef consumption make up more than 65% of Spain's total animal feed consumption, making them the main factors driving the nation's cattle feed industry. Free trade agreements in the area for countries in the European Union will have a favorable effect on market growth throughout the projected period. The market for cattle feed in Germany had the biggest market share, and the market for cattle feed in the UK had the quickest rate of expansion on the continent of Europe.
Due to the surge in demand from vegan customers, the Asia-Pacific Cattle Feed Market is anticipated to develop at the quickest CAGR from 2022 to 2030. Several significant macroeconomic factors, such as the rise in social media usage and the increase in per capita income, have an impact on the overall expansion of the cow feed business. It is anticipated that there would be a rise in the need for meat and dairy products in child nutrition, which will probably result in major growth for LAMEA. Millennials are the greatest consumers of fresh meat and other items in the area, and their numbers have grown dramatically as well. Therefore, it is anticipated that the expanding millennial population would create profitable market prospects for cow feed. In addition, the India cattle feed market had the quickest rate of growth in the Asia-Pacific region, while the China cattle feed market had the biggest market share.
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