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Cattle Feed Market: Segmented By Application (Dairy, Beef, and Calf); By Ingredients (Wheat, Corn, and Additives) and Region - Global Analysis of Market Size, Share & Trends for 2019-2020 and Forecasts to 2030
[170+ Pages Research Report] Cattle Feed Market to surpass USD 95.8 billion by 2030 from USD 75.7 billion in 2020 at a CAGR of 3.9 % in the coming years, i.e., 2021-30.
Cattle feed provided commercially by feed producers is fed or mixed directly with feed concentrate or raw materials before feeding animals. The concept by FAO's compound feed is a combination of a natural, fresh, or preserved product of vegetable or animal origin or of a product produced from the manufacturing of that product, or organic or an inorganic material contained or not, in the form of a whole feed oral feed." Commercial feeds are supplemented with special formulas prepared for and growth period of the cattle to be fed as a single feed. Beef cattle, dairy cattle, calves, and other animals are fed in compound cattle.
Global Cattle Feed market is expected to project a CAGR of 3.9% in 2030.
The growing emphasis on animal health, the livestock sector, and the high prevalence of disease outbreaks among livestock has contributed substantially to the global livestock feed market development. During the forecast period, there is projected to increase demand for milk and dairy produce in developing countries. In addition, growing attention to nutrition precision, particularly in Europe, creates a worldwide market growth opportunity.
Corn segment to grow with the highest CAGR during 2020-30
Global Cattle Feed market is segmented by ingredients into Wheat, Corn, and Additives. In 2020, Corn was the dominant segment of ingredients and represented over one-fourth of the world's turnover. Major grain manufacturing companies including Cargill, Inc. and BASF SE are incorporated into the value chain, supplying feed products, providing producers with extensive supplies, and reducing supply and logistics costs. Also, few firms, such as Charoen Pokphand (CP) and Alltech, can backwardly manufacture commodities (feed grains) and finish goods to reduce the cost of raw materials.
Dairy segment to grow with the highest CAGR during 2020-30
Global Cattle Feed is divided by application into Dairy, Beef, Calf. In 2020, the dairy sector accounted for over half of global sales. The Food & Agriculture Organization of the United Nations (FAO) estimated that dairy products will increase by XX.X% by 2030, and beef products by XX.X% by 2030. Increased demand for milk and milking products in the developing economies can be due to the growth of the segment, which leads to rising industrialization in livestock rearing. In the US, the value of cattle and calf production has risen steadily since 2010 as a result of demand and increased market competition. Manufacturers are willing to innovate goods and sell custom milk and beef products.
High prevalence of disease outbreak
The growing emphasis on animal health, the livestock sector, and the high prevalence of disease outbreaks among livestock has contributed substantially to the global livestock feed market development. During the forecast period, there is projected to increase demand for milk and dairy produce in developing countries. In addition, growing attention to nutrition precision, particularly in Europe, creates a worldwide market growth opportunity.
Rising industrialization of livestock production
Growing population and the need for fulfilling the nutritional and taste needs of the population in developing countries has led to increased industrialization of livestock production. In developed countries, cattle rearing has historically been a backyard occupation. Cattle rearing in these countries has begun to change as a result of increased demand and increased understanding of the economies of scale that come with maintaining larger herds. Increased cattle husbandry industrialization will result in the introduction of advanced management techniques, such as the use of compound feed in acceptable dosages. This is expected to boost the cattle feed market's growth.
High cost
Compared to alternative feed options, the high price associated with cattle feed is curbing market development. Most of the world's ingredient supply is produced in China, including vitamin B&D, lysine, and threonine. During the pandemic, key product customers in North America and Europe were most affected by delayed shipments and shipping disruptions. This has led to a price increase because of bottlenecks in the supply chain.
BASF SE
Company Overview, Business Strategy, Key Product Offerings, Financial Performance, Key Performance Indicators, Risk Analysis, Recent Development, Regional Presence, SWOT Analysis
Global Cattle Feed market is segmented based on regional analysis into five major regions. These include North America, Latin America, Europe, Asia Pacific, and the Middle East, and Africa.
Global Cattle Feed in North America held the largest market share of XX.X% in the year 2020. In 2020, North America dominated the industry and accounted for more than 30% of global sales. The regional market is anticipated to be driven over the forecast years by increasing meat consumption, mainly in the US, coupled with rigorous regulations on meat quality. In addition, the area is expected to increase the demand growth in easy and sufficient supply of raw materials such as maize and dextrose. From 2020 to 2030, it is expected that Asia Pacific will record the highest CAGR. As a result of the high population and a large increase in meat consumption, emerging economies such as China and India have experienced fast cattle inventory growth over the past decade. This has led to increased demand for products.
Global Cattle Feed Market is further segmented by region into:
Cattle Feed Market Segments:
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