Global Cattle Feed Market is valued approximately USD 68.4 billion in 2019 and is anticipated to grow with a healthy growth rate of more than 2.6 % over the forecast period 2020-2027. Animal feed is the food that is provided to domestic animals, especially livestock feed. In animal agriculture, livestock feed is a very significant factor and contributes to the majority of the cost of raising animals. Farmers typically strive to reduce the cost of this food by adding alternatives to costly feed, such as food waste such as spent beer brewing grain. One of the key factors determining the future of the livestock industry is animal health. Animal health is highly dependent on nutritional feed that is well balanced. The livestock feed industry is expanding into the feed-acidifier, feed-enzyme, feed-antibiotic and microbial feed market. The demand for these trends is followed by an increase in meat protein intake and an increase in the value of the quality of the ingredients used in animal feed. Further, as milk producers have started replacing conventional cattle feed with more nutritionally balanced compound feed, the cattle feed industry is experiencing rapid growth, as they have realized the tangible benefits of nutritious feed in terms of yield increase.
The livestock industry in Asia is the most important part of agricultural growth and has developed at an unprecedented rate in recent decades. Also, as per Food and Agriculture Organization, Livestock goods contribute about 40 per cent of total agricultural production to global sales and are rising faster than any other sub-sector of agriculture. Rapid growth in the consumption of animal products has also forced the livestock industry to adapt and expand to meet the needs of society by feeding livestock animals with nutritious animal feed due to population growth and rising living standards. This element is also useful for the growth of the cattle feed industry. However, regulatory policies that are stringent & time consuming impedes the growth of the market over the forecast period of 2020-2027. Also, the beef cattle industry contributes greatly in growth of developed countries which leads to create more opportunity for Global Cattle Feed Market.
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The regional analysis of global Cattle Feed market is considered for the key regions such as Asia Pacific, North America, Europe, Latin America and Rest of the World. Asia-Pacific is the leading/significant region across the world in terms of market share owing to the growing demand from vegan customers, Asian countries have experienced higher levels of traction for dairy products. In addition, there has been a considerable rise in the number of millennials in the area who are leading buyers of modern food & meat products. The growth in the millennial population is therefore anticipated to bring demand opportunities for remunerative cattle feed. Whereas, North America is also anticipated to exhibit highest growth rate / CAGR over the forecast period 2020-2027. Factors such as growing meat consumption, mainly in the United States, coupled with strict meat quality regulations, is expected to drive the regional market.
Major market player included in this report are:
Archer Daniel Midland Company
Beijing Goke Agriculture Machinery Co., Ltd.
Charoen Pokphand Foods
J. R. Simplot Company
Land O’ Lakes Inc.
Provita Eurotech Ltd.
The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming eight years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within each of the regions and countries involved in the study. Furthermore, the report also caters the detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, the report shall also incorporate available opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:
By Ingredient Type:
Cereals & Grains
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