How big is the Cattle Feed Market?
IMARC Group, a leading market research company, has recently releases report titled “Cattle Feed Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028” the global cattle feed market size reached US$ 84.9 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 104.3 Billion by 2028, exhibiting a growth rate (CAGR) of 3.28% during 2023-2028.
What are Cattle feed?
Cattle feed commonly includes a blend of concentrated ingredients, such as vitamins, minerals, grains, protein cakes, molasses, mixers, and agro-industrial by-products in suitable proportions. It is a rich source of acidifiers, carbohydrates, omega-3, fibers, antibiotics, enzymes, antioxidants, etc. Cattle feed possesses several health attributes, such as increased reproductive efficiency, enhanced milk production with better fat content, and a maintained balanced diet. It aids in maintaining optimum body conditions, protecting pellets against infestations caused by molds or insects, preventing muscular disorders, such as laminitis and azoturia, etc. Consequently, cattle feed is extensively utilized in the prescribed proportion to promote livestock growth and meet their nutritional requirements. Presently, it is commercially available in mash, crumbles, pellets, and cube forms.
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What are the growth prospects and trends in the Cattle Feed Industry:
The growing utilization of various animal-based products, such as egg, milk, meat, etc., owing to their several health benefits, and the expanding dairy industry are primarily driving the cattle feed market. Additionally, the increasing number of zoonotic and epidemic diseases is propelling livestock farmers to utilize quality premixes for consumption by ruminants and aquatic animals, which is further bolstering the market growth. Besides this, the inflating need for effective gut-friendly feed antibiotics, phytogenic nutrients, and acidifiers by farmers to fulfill the dietary needs of livestock is acting as another significant growth-inducing factor. Moreover, the rising awareness among leading manufacturers towards the harmful effects of artificial supplements is catalyzing them to incorporate non-genetically modified organisms (non-GMO) crops in cattle feed, thereby positively influencing the global market. Apart from this, the launch of favorable policies by government bodies to provide farmers with cattle feed to improve overall animal health is also stimulating the market growth. Furthermore, extensive R&D activities are projected to fuel the cattle feed market in the coming years.
Who are the key players operating in the industry?
- Alltech
- Archer Daniels Midland Company
- BASF SE, Cargill Inc.
- Chr. Hansen A/S (Chr Hansen Holding A/S)
- De Heus Animal Nutrition
- DSM N.V
- DuPont de Nemours Inc.
- Evonik Industries AG (RAG-Stiftung)
- Godrej Agrovet Ltd.
- J.R. Simplot Company
- Kemin Industries Inc.
- Kent Corporation.
The report has segmented the market on the basis of ingredient, type and distribution channel.
Breakup by Ingredient:
- Corn
- Soybean Meal
- Wheat
- Oilseeds
- Additives
- Others
Breakup by Type:
- Dairy
- Beef
- Calf
- Others
Breakup by Distribution Channel:
- Offline
- Online
Breakup by Region:
- North America: (United States, Canada)
- Asia Pacific: (China, Japan, India, South Korea, Australia, Indonesia, Others)
- Europe: (Germany, France, United Kingdom, Italy, Spain, Russia, Others)
- Latin America: (Brazil, Mexico, Others)
- Middle East and Africa
Key highlights of the report:
- Market Performance (2017-2022)
- Market Outlook 2023-2028
- Porter’s Five Forces Analysis
- Market Drivers and Success Factors
- SWOT Analysis
- Value Chain
- Comprehensive Mapping of the Competitive Landscape
If you need specific information that is not currently within the scope of the report, we can provide it to you as a part of the customization.
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