The global cattle feed market is expected to witness healthy growth, on account of rising demand for meat and dairy products. On account of cattle health concerns, better and healthy products including milk, milk products, meat and meat products, cattle feed industry is playing an important role in improving overall cattle health in the long run. Cattle product includes milk and milk products along with meat and meat products. Growth in cattle population is expected to directly influence the global market demand over the forecast period as increasing population is anticipated to increase meat, dairy and other cattle related products. Therefore, cattle feed is helpful in managing nutrient levels in these products. Various cattle feed additives are provided in order to minimize cattle related infection, improve product quality and provide better immune to cattle. Hygienic factor coupled with high nutrients, less time elapsed, convenient handling, and ease in availability are some factors which are expected to propel global market growth. Land shrinkages for cattle grazing along with increasing urbanization are the factors which are expected to drive market over the forecast period. To get higher cattle yield on the back of grander feed coupled with nutrition, cattle feed industry is gaining concerns. Industrialization in dairy and meat industry is expected to augment the market globally in the coming years. Asia Pacific and Latin America are the major opportunities for the market demand. Developing economies are expected to attract cattle feed market globally in coming years. Fluctuations in the raw material prices is expected to act as a major limitation for global cattle feed market.
Global cattle feed market is segmented by animal type. Animal type segment is sub segmented into mature ruminants and young ruminants. Mature ruminants further include dairy and meat.
North America and Asia-Pacific were dominating the market globally being largest cattle feed consumer. U.S. was the chief cattle feed market in North America. Emerging economies including China, India, Japan and Vietnam are expected to push global market on the constructive side in coming years owing to increasing disposable income, huge milk & milk product and meat demand. Developing regions are expected to witness a significant growth in the market in coming years. Rise in consumer concerns coupled with huge demand for meat and meat products are expected to positively influence the European market over the forecast period. Brazil is projected to be a growing market for cattle feed followed by Mexico and Canada. Asia Pacific is expected to be the fastest growing market on account of rising population coupled with highly increasing cattle product demand (milk, meat and others) over the forecast period.
Global cattle feed market players include National Farms, V. H. Group, Royal DSM N.V, Four States Feed., Caprock, BASF SE, ADM, Cargill Inc., ContiBeef LLC, J.R. Simplot, Evonik Industries AG, Charoen Pokphand Foods, Kent Corporation, Friona Industries, Land o Lakes, Cactus Feeders and Godrej Group. Industry participants are expected to implement various strategies including business expansion, adopting new technologies to improve efficiency of cattle production and enhancing cattle feed quality, product differentiation, product line improvement and increase in production capacity by setting up new plants in order to grow their market size and increase their market volume globally. Most of the companies are focusing on their business expansion by setting up new production line in Asia Pacific region on account of economical labor coupled with raw material availability. In addition, rising population along with growing cattle product demand (milk along with milk products and meat along with meat products) is also expected to push major industry participants to set up their plants in Asia Pacific.
Avail customized purchase options to meet your exact research needs:
Get your queries resolved from an industry expert.
Design an exclusive study to serve your research needs.
A testimonial for service in the form of BBB "A" Accreditation.
Your personal and confidential information is safe and secure.
"The quality of research they have done for us has been excellent..."
Restrictions on manufacturing activities due to the advent of the COVID-19 pandemic shall cause a slump in the supply of feed, as well as its additives. The current stagnation in supply is, in turn, detrimental against the backdrop of ever-increasing demand for essential food products such as dairy and meat. The report will account for Covid19 as a key market contributor.