The global cattle feed market size was US$ 75.3 billion in 2021. The global cattle feed market is forecast to grow to US$ 107.8 billion by 2030 by registering a compound annual growth rate (CAGR) of 4.5% during the forecast period from 2022 to 2030.
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Commercial cattle feed is combined directly with feed concentrate or raw ingredients before being fed to the animals. Compound feed, according to the FAO, is “a natural, fresh, or preserved product of vegetable or animal origin, or a product created from the manufacturing of that product.
The U.S. Bureau of Economic Analysis and the U.S. Census Bureau reports that the goods and services deficit rose from $68.7 billion in January 2023 to $70.5 billion in February, an increase of $1.9 billion. Due to a $2.7 billion increase in the goods deficit to $93.0 billion and a $0.8 billion increase in the services surplus to $22.4 billion, the goods and services deficit increased in February. The goods and services deficit has decreased this year by $35.5 billion, or 20.3% when compared to the same period in 2022. $10.8% more, or $49.5 billion, was exported. Imports cost $2.2% more, or $14.0 billion, than exports.
Factors Influencing the Market
The growing cases of disease outbreaks are driving the need to raise emphasis on animal health. As a result, it will fuel the growth of the global livestock feed market during the forecast period. In addition, the rapidly rising demand for milk and dairy products in developing countries will upsurge the demand for cattle feed in the coming years.
Growing industrialization and rising livestock opportunity will also benefit the cattle feed market during the analysis period.
Increased industrialization of livestock production has resulted from a growing population and the need to meet the nutritional and taste needs of the population in developing countries like China and India. Thus, it will benefit the cattle feed market during the analysis period.
Cattle ranching has always been a backyard activity in wealthy countries. As a result of rising demand and a better understanding of the economies of scale that come with keeping larger herds, cattle husbandry in these countries has begun to shift. The introduction of modern management practices, such as the use of compound feed in appropriate dosages, will result from increased cattle husbandry industrialization. This is likely to enhance the growth of the cow feed market. On the contrary, the high cost associated with cattle feed may limit the growth of the cattle feed market.
COVID-19 Impact Analysis
The demand for milk and other dairy products remained the same throughout the pandemic period. Moreover, demand for high nutritional food increased during the pandemic, which upsurged the demand for the cattle feed.
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Regional Analysis
North America is forecast to hold the highest share in the cattle feed market. It is majorly due to the increasing meat consumption, mainly in the US. Furthermore, stringent regulations to maintain the meat quality will contribute to the growth of the cattle feed market. The Asia-Pacific cattle feed market will also hold a significant share due to the high population and growing meat consumption.
Competitors in the 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.
? Other Prominent Players
Market Segmentation
The global cattle feed market segmentation focuses on Animal Type, Ingredient, and Region.
By Animal Type
? Dairy Cattle
? Beef Cattle
? Other Cattle Types
By Ingredient
? Cereals
? Cakes and Mixes
? Food Wastages
? Feed Additives
? Other Ingredients
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By Region
�?� North America
o The U.S.
o Canada
o Mexico
�?� Europe
Western Europe
o The UK
o Germany
o France
o Italy
o Spain
o Rest of Western Europe
Eastern Europe
o Poland
o Russia
o Rest of Eastern Europe
�?� Asia Pacific
o China
o India
o Japan
o Australia & New Zealand
o ASEAN
o Rest of Asia Pacific
�?� Middle East & Africa (MEA)
o UAE
o Saudi Arabia
o South Africa
o Rest of MEA
�?� South America
o Brazil
o Argentina
o Rest of South America
What is the goal of the report?
? The market report presents the estimated size of the market at the end of the forecast period. The report also examines historical and current market sizes.
? During the forecast period, the report analyzes the growth rate, market size, and market valuation.
? The report presents current trends in the industry and the future potential of the North America, Asia Pacific, Europe, Latin America, and the Middle East and Africa markets.
? The report offers a comprehensive view of the market based on geographic scope, market segmentation, and key player financial performance
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