ID: MRFR/AGR/2321-HCR | February 2021 | Region: Global | 110 pages
The global Cattle Feed Market estimated to be valued at USD 100 billion in 2019 and is expected to register 3.00% CAGR during the forecast period, 2019 to 2024.
Cattle feed is produced either directly or by mixing with concentrators or roughages by the compound feed manufacturers. This is one type of food given to domestic animals especially those in the livestock. In animal agriculture, it is a very important factor and is contributing to the significant cost of raising animals. Most of the farmers used supplementing expensive feeds with substitutes like food waste from beer brewing to reduce the cost for feed to animals.
The primary factor of the livestock industry depends upon animal well-being which is highly dependent on balanced nutritional feed. There is an expansion to this cattle feed industry by the feed antibiotics, feed enzymes, feed acidifiers, and feed-microbial. The demand for these expansions is increased with the rise in meat protein consumption and increase in the quality of the products used in the animal feed.
As the COVID-19 severely affected the various sectors worldwide, the cattle feed market is also drastically impacted. In 2020, even though the demand for animal feed is stable, the supply has been greatly affected due to the lockdowns and regulations imposed by various country governments. The consumption of fish and meat has declined drastically all over the world. In addition to that, reduction of soya bean, corn, and wheat in animal feed is observed due to the disruptions caused for the global feed suppliers, China to control curb of the coronavirus pandemic. Along with this, the supply of containers and vessels is also affected severely.
Moreover, the demand for Grain & oilseed is reduced. Manufacturers of animal feed are facing a lot of issues like lack of workforce and raw materials. The stringent lockdowns cause the migrant workers to return to their native places, disruptions to the supply chains, and leaving the distribution leads to the reduction of manufacturing products and reduced consumption in the animal feed industry. Rapidly, after the removal of the lockdowns, due to the benefits produced by cattle feed, the growth toward the cattle feed market is increased.
Rising focus on animal health, growing incidences of disease outbreaks, and increase in the organized livestock sector among cattle are the major factors that drive the cattle feed market. Rising demand for milk and dairy products in developing countries may accelerate the growth of the cattle feed global market.
The increased demand for meat consumption increases the demand for higher yields of cattle for efficient production of meat products. According to the International Assessment of Agricultural Knowledge Science and Technology for Development (IAASTD) report, global meat consumption is going on the increase with an impeccable of 120% between the years 2000-2050.
Cattle feed is very expensive compared to other feed products which are restraining the cattle feed market growth. Strong and time-consuming regulatory policies are hindering the market growth.
The rise in focus on precision nutrition may create the opportunity to increase the growth of the market. Investments and funds by government authorities and organizations in the agriculture sector help the cattle farmers may increase the cattle feed market growth.
Monitoring mycotoxin contamination in cattle feed is a challenging factor to the global cattle feed market growth.
Study Objectives -
Global Cattle Feed Market Share (%), by Region, 2018
Source: Secondary Sources and MRFR Analysis
The global cattle feed market outlook has been divided into segments based on ingredient type, application, additives, and region.
Based on Ingredient Type
The global cattle feed market is based on ingredient type bifurcated into protein meals/cakes, cereals & grains, brans, additives, soya beans, and others. Out of these, soya beans are dominating the market share due to their highly digestible protein content, it is preferred as an important ingredient in the cattle feed. Moreover, it caters to the lack of threonine, isoleucine, lysine, tryptophan, and valine.
Based on Additives
Based on additives, the cattle feed market has been segregated based on amino acids, acidifiers, vitamins, minerals, antioxidants, enzymes, antibiotics, and others. Out of these additives, vitamin-based additives are holding the leading position in the market. Cattle feed offers various types of feeds like corn, limestone, and soybean, which are not able to meet the vitamin requirements and are using vitamin additives to fulfill this supplement.
Based on Application
By the application, the cattle feed market is divided into dairy cattle, beef cattle, calves, and others. Among them, the dairy segment dominates the fungicides market due to the growing demand for dairy and milk products in emerging economies. According to the United Nations Food & Agriculture Organization (FAO), dairy products may increase by 55% and beef products may increase by 70% by the year 2050.
Based on Region
Regionally, the global cattle feed market is segmented into four main regions which are Europe, North America, Asia-Pacific, and the rest of the world. Among them, North America is predicted to dominate the largest market share for the high focus on animal health and growing demand for the organized dairy industry.
Regional Analysis -
Globally, the cattle feed market region-wise is analyzed into Europe, Asia-Pacific, North America, and the rest of the world. Out of these regions, North America is accounting for the largest cattle feed market share for its high focus on animal health and growing demand for organized dairy products may boost the growth of the market.
Due to the gradual shift of the unorganized dairy sector into the organized dairy sector, Asia-Pacific is expected to register a significant CAGR during the review period. Owing to the growing demand of the vegan population, rising demand for dairy products, increase in social media usage, and surge in per capita income are the factors that boost the cattle feed market growth. The growing demand for meat and dairy products in child nutrition makes the LAMEA exhibit significant growth. The increase in the millennial population is predicted to propel market growth in this region.
The prominent key players in the cattle feed market trends are the following:
This global cattle feed market research includes the Market Overview, COVID-19 analysis, Market Dynamics, Study Objectives, Segment Overview, Regional Analysis, Competitive Landscape, Recent developments, Segmentation Table, and FAQs. The market scenario includes the cattle feed market drivers, restraints, challenges, and opportunities. The cattle feed market forecast segments are ingredient type, additives, application, and region.
The cattle feed market trends are segregated globally based on the ingredient type, additives, application, and region.
By Ingredient Type
They are Cereals & grains, Protein meals/cakes, brans, additives, and others.
They are Antioxidants, amino acids, acidifiers, vitamins, minerals, enzymes, antibiotics, and others.
Beef cattle, dairy cattle, calves, and others.
Divided into Asia-Pacific, Europe, North America, and the rest of the world are the four main geographies included in this market.
Frequently Asked Questions (FAQ) :
cattle feed market was valued at USD 68.4 billion in 2019.
Global market is expected to exhibit a strong 2.6% CAGR over the forecast period from 2019 to 2024.
The growing cattle industry is the major driver for the cattle feed market.
North America is expected to dominate the global cattle feed market over the forecast period.
Leading players in the market include Cargill, BASF, and Nutreco NV, among others.