A recent report published by Infinium Global Research on the cattle feed market provides an in-depth analysis of segments and sub-segments in the global as well as regional cattle feed market. The report is a comprehensive presentation of trends, forecasts, and dollar values of the global cattle feed market. According to the report, the global cattle feed market is projected to grow at a CAGR of about 4% over the forecast period of 2022-2028.
The global cattle feed market was valued at over USD 75 billion in 2022 and is expected to reach nearly USD 100 billion in 2028, with a CAGR of about 4% during the forecast period. The main factor driving market expansion is the rise in consumer awareness of the nutritional value of food as well as the safety of meat and milk products. Young ruminants and mature ruminants are two categories of cattle. Amino acids, vitamins, feed acidifiers, antibiotics, feed enzymes, antioxidants, and other supplements are used depending on the age of these ruminants. Products containing vitamin A and minerals, such as Availa-4 and 20-10 Plus Mineral, are frequently used to boost cattle's immune system, reproductive ability, and vision as well as to fill nutritional gaps. The primary components of cattle feed are fodder, legumes, grass, and silage, as well as hay and dry forages. According to estimates, the market would develop due to rising demand for feed that contains more nutrients and improves the productivity of cattle.
The compound cow feed not only enhances performance and satisfies daily nutritional requirements, but also guards against muscular diseases like laminitis and azoturia. Cattle still need dietary fats to function properly even without gallbladders. Cattle can break down dietary fats, which have health advantages like better vitamin absorption, omega-6, and omega-3 fatty acids, etc. The demand for cow feedstuff is being driven by the rising need for complete cattle nutrition. As milk producers start switching from conventional cattle feed to more nutritionally balanced compound feed as they see the actual benefits of nutritional feed in terms of product improvement, the cattle feed market is quickly growing. The livestock business has also been pushed to adapt and grow in order to meet society's expectations by providing wholesome animal feed to livestock animals as a result of population increase and rising living standards. As a result, this element helps the market for cow feed to expand.
The North American region holds a significant share of the market during the forecast period. The demand for cow feed is rising as the population grows. Due to the high demand and escalating market competitiveness, the value of cattle and calf production in the U.S. is rising. The high demand for cattle feed to increase the efficiency of the animals is driving the growth of the region. Further, the Asia Pacific region is anticipated to grow at the fastest rate over the projection period. Because of their large populations and sharply rising milk and milk product consumption in emerging economies like China and India have seen a tremendous increase in their cattle inventories during the past ten years. For example, as per the Food and Agriculture Organization, the cattle population in India in 2020 is about 194.4 million increase from 191 million in 2017. Further, India produced 187.7 million metric tons of milk, in 2019 which is 13.4% higher than in 2017. As a result, the need for cow feed in the region is rising which is expected to enhance the growth of the market.
The report on the global cattle feed market covers segments such as ingredients, and application. On the basis of ingredients, the sub-markets include corn, soybean meal, wheat, oilseeds, additives, and others. On the basis of application, the sub-markets include dairy animals, aquatic animals, poultry animals, and others.
The report provides profiles of the companies in the market such as Cargill, Incorporated, Purina Animal Nutrition LLC, ARASCO, Aimco. ca, Khairat Feed Company, Godrej Agrovet Ltd., Bharat Feeds & Extractions Ltd, De Heus Animal Nutrition, Arivan Agrovet Products , and Farmer's Grain Company.
The report provides deep insights into demand forecasts, market trends, and micro and macro indicators. In addition, this report provides insights into the factors that are driving and restraining the growth in this market. Moreover, The IGR-Growth Matrix analysis given in the report brings insight into the investment areas that existing or new market players can consider. The report provides insights into the market using analytical tools such as Porter's five forces analysis and DRO analysis of the cattle feed market. Moreover, the study highlights current market trends and provides forecasts from 2022-2028. We also have highlighted future trends in the market that will affect the demand during the forecast period. Moreover, the competitive analysis given in each regional market brings insight into the market share of the leading players.
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