Cattle Feed Market Size, Share, Analysis 2022
The global cattle feed market size was valued at USD 71,963.4 million in 2021 and is poised to grow at a significant CAGR of 2.6% during the forecast period 2022-28. Due to increased demand for feed to enhance nutritional value and increase cattle efficiency, the worldwide cattle feed industry is predicted to rise significantly. Cattle protein consumption, on the other hand, is a nutritional requirement for consumers, particularly the millennial generation. Livestock products are contributed to around 40% of the total agricultural output in global sales and are experiencing faster growth as compared to any agricultural sub-sector. Assurance of feed quality, availability of adequate feed variations, development of skills and capability, modernization and renovation of plants, efficient inventory management, and transparency and integrity in procurement are areas of concern identified in these countries. These obstacles are expected to limit market expansion.
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Dairy Cattle Segment Dominates the Cattle Feed Market
The dairy production in developing countries such as India and Brazil clearly indicate that the sector has a high potential for further growth. Unorganized local players can also grab the growth opportunities in these regions. This is expected to be beneficial for the growth of the cattle feed market. The value of cattle and calf production in the U.S. has been rapidly increasing since 2010 due to high demand and rising competition in the market. Manufacturers are inclined towards product innovation and are offering customized products for dairy and beef applications.
The global cattle feed market segmentation:
- By Ingredient Type: Corn, Soybean meal, Wheat, Other oilseeds & grains, and other ingredients
- By Application: Beef cattle, Dairy cattle, Calves, and Others
- By Additive Type: Vitamins, Trace minerals, Amino acids, Feed antibiotics, Feed acidifiers, Feed enzymes, Antioxidants, and Others
North America Leads Cattle Feed Market
North America already consumes a substantial amount of dairy products and meat, whereas Asia-Pacific and Latin America are expected to develop rapidly. Cattle farming has become more industrialized as demand for dairy products and beef has soared. This corresponds to larger herd sizes, more complex feed utilization, and more scientific cattle management. The rise of the cattle feed market has been aided by this phenomenon. The Asia Pacific is the region with the fastest growth, thanks to rising demand from China and India. In the approaching years, the expanding dairy market in this region will likely enhance the cow feed and feed additives market.
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Key player’s profiles in the cattle feed market report are BASF SE, DSM, Cargill, Incorporated, ADM Animal Nutrition, Kemin Industries, Inc, Biomin Holding GmbH, Nutreco, and Land O'Lakes, Inc.
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