The global cattle feed market is set to witness growth at a CAGR of 4.0% over the forecast period (2022-2032) and top a valuation of US$ 125.8 Bn by 2032.
The global market has profited by the commercialization of cow products such as dairy and meat products, as well as the expanding population. Consumer knowledge of the safety and nutritional value of meat and dairy products has become a fundamental driver of corporate success.
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Cattle are classified as either young ruminants or adult ruminants. Amino acids, feed acidifiers, vitamins, feed enzymes, antibiotics, antioxidants, and other supplements are used depending on the age of the ruminants. Vitamin A and mineral supplements, such as Availa-4 and 20-10 Plus Mineral, are commonly used in cattle to boost immune function, reproduction, and vision, as well as to rectify deficiencies. The majority of a cattle’s diet is made up of fodder, legumes, grass, and silage.
Moreover, consumer knowledge of illnesses that affect livestock animals, such as foot and mouth disease, has heightened worries about meat quality and safety, prompting the adoption of high-quality feed components. Overlapping demand for main grains like barley, maize, and wheat from other commercial applications including biofuel and food sectors is projected to limit market expansion in the coming years.
However, there has been a significant increase in partnerships and M&A among market participants in recent years, growing brand portfolios, gaining access to regional markets, and providing relevant benefits, all of which are expected to fuel product demand.
Key Takeaways from Market Study
- North America is expected to account for the maximum value share of the global market of about 33% by 2032 end
- Due to constant bans on the use of antibiotics in the cattle feeds in Europe, consumers are compelled to opt for substitutes for these antibiotics and direct fed microbials are emerging as better cattle feed additives
- Beef cattle segment aids as a key contributor for growth in emerging countries
- The outbreak of COVID-19 disrupted the supply chain of Cattle Feed, due to which, there was a slowdown in the market. However, the market is expected to witness significant growth with economies providing opportunities and increasing consumer demand for healthy & nutritious feed products
“Mergers and acquisitions are conducted to broaden the product range and achieve a greater market share, and to improve their regional footprint, notably in unorganized markets such as China, Brazil, and India, which is attributable to the growing demand in the next half decade,” says a Future Market Insights analyst.
Key manufacturers of Cattle Feed are majorly focusing on research & development, product innovation, geographical expansion, partnerships and mergers and acquisitions to create a larger customer base. For instance,
- Archer Daniels Midland Company (US) and Quality Liquid Feeds, Inc. (US) formed a 50-50 joint venture to produce and sell liquid feed supplements for livestock.
- Cargill, Incorporated (US) introduced Proviox Breeding at the International Production & Processing Expo, which is a new version of Cargill’s plant-based antioxidant Proviox designed specifically for breeder birds.
Market Segments Covered
- Direct Sales
- Indirect Sales
- North America
- United States
- Asia Pacific
- South Korea
- United Kingdom
- Latin America
- Middle East and Africa
Key Questions Answered in the Report
- How much is the Cattle feed market current worth?
- At what CAGR is the market expected to grow?
- How was the performance in the last five years?
- Which are the major countries driving demand for Global Cattle feed market?
- Who are the major players in Global Cattle Feed Market?
- Who are the top 5 countries driving cattle feed market?
- At what rate will the cattle feed market increase in North America?
- What is the Latin America cattle feed market outlook?
- What is the market outlook for cattle feed in EMEAI region?
- At what rate did the cattle feed market increase between 2021 and 2022?