The global cattle feed market size is anticipated to reach USD 96.2 billion by 2027 expanding at a CAGR of 3.2%, according to a new report by Grand View Research, Inc. Growing concerns of farmers regarding the yield and cattle health have resulted in high demand for high-quality ingredients and additives across the globe. According to the Veterinary Feed Directive (VFD), antibiotics in feed without a prescription from VFD should be avoided owing to infectious agents present in them.
Thus, as a replacement, ingredients like ionophores, prebiotics, probiotics, and enzymes are used as feed additives. Ionophores like Rumensin and Bovatec improve feed efficiency and reduce the risk of bloat and acidosis. XPC, Fermenten are some of the major products used to enhance productivity, minimize infections, and provide better immune to cattle. Thus, the cattle feed segment has tremendous growth opportunities due to a rise in the customization of meat and dairy products.
The Asia Pacific emerged as the leading regional market in 2019 due to increasing demand from emerging economies, especially China and India. Increasing government efforts in India focusing on productivity enhancement in cattle and Bringing Green Revolution to Eastern India (BGREI) will positively influence the product demand. Moreover, population growth in India is resulting in increased milk & meat consumption in the country. These factors will lead to a high requirement of processed dairy products, thereby triggering higher feed requirements.
The Covid-19 pandemic has resulted in production as well as supply restrictions for several products across the majorly affected economies, such as the U.S., Italy, France, Germany, India, China, and Russia. Manufacturers are facing issues, such as shortages of certain raw materials, low stock levels, and backlogs, which act as a restraining factor for the market growth. However, ease of restrictions on essential commodities, bounce back practices from China, and inclination of manufacturers to meet both domestic and export demand, are estimated to contribute to product demand in the near future.
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In 2019, soybean meal emerged as the largest ingredients segment owing to easy availability and low cost of these products
In 2019, amino acids emerged as the largest additives segment as these acids play a vital role in developing healthy eyesight, adrenal & thyroid gland function, hair pigmentation, urea production, and animal growth, as well as act as antioxidants
In 2019, dairy emerged as the largest application segment, due to the demand for milk products as a result of rising population in emerging economies across the globe
Grand View Research has segmented the global cattle feed market on the basis of ingredients, application, and region:
Cattle Feed Ingredients Outlook (Volume, Kilotons; Revenue, USD Million, 2016 - 2027)
Corn
Soybean Meal
Wheat
Oilseeds
Additives
Vitamins
Vitamin A
Vitamin B
Vitamin C
Vitamin E
Minerals
Amino Acids
Methionine
Lysine
Threonine
Tryptophan
Others
Feed Antibiotics
Feed Acidifiers
Feed Enzymes
Phytase
Non-starch
Antioxidants
Others
Others
Cattle Feed Application Outlook (Volume, Kilotons; Revenue, USD Million, 2016 - 2027)
Dairy
Beef
Calf
Others
Cattle Feed Regional Outlook (Volume, Kilotons; Revenue, USD Million, 2016 - 2027)
North America
The U.S
Canada
Mexico
Europe
Germany
The U.K.
France
Italy
Spain
Asia Pacific
China
India
Japan
South Korea
Central & South America
Brazil
Argentina
Middle East & Africa
South Africa
Saudi Arabia
List of Key Players of Cattle Feed Market
BASF SE
DSM
Cargill, Inc.
ADM Animal Nutrition
Kemin Industries, Inc.
Biomin Holding GmbH
Nutreco
Land O'Lakes, Inc.
Farmer's Grain Company
United Farmers Cooperative
DE HEUS. ALL
Godrej Agrovet Ltd.
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