Cattle Feed Market Overview:
The Cattle Feed Market will obtain a value of USD 104.18 Billion and a CAGR of 3.92% between 2023-2030.
The key drivers driving market expansion include increased demand for meat and animal-based goods and increased commercial livestock production. Because of expanding consumer health consciousness, there is a growing demand for dairy and meat products as a source of various nutrients, favourably affecting animal feed demand. Furthermore, rising public awareness of the health advantages of algae-based components in animal feed is a key driver of market expansion.
Animal farming's industrialisation has mostly resulted in a rise in demand for protein-rich animal feed components, raising the feed conversion rate. To assist cattle in gaining weight and produce protein-rich meat, industrially farmed livestock are predominantly fed concentrates derived from cereal and vegetable protein, including soybean meals. For proper growth, farm animals rely extensively on proteins and other nutrients. Animal feed proteins are abundant in energy, minerals such as calcium and phosphorus, and important amino acids such as lysine and methionine.
Animal protein meals, fish meals, bone meals, feather meals, blood meals, and other protein meals and feeds are in high demand due to the rising understanding of the health advantages of proteins on animal health. Demand for protein-rich and nutritious animal feeds is predicted to grow throughout the forecast period due to the importance of livestock and farm animals in the global food supply chain. The ever-increasing need for protein-rich animal feeds to encourage cattle development at all stages of life is likely to propel the global Animal Feed Market even higher.
Market Segmentation:
The Cattle Feed Market is divided into different segments.
The market is classified into Pellets, Crumbles, Mash, and Others. Feed Pellets provide a better nutritional density, economic benefits, and a complete nutrition profile. These pellets are simpler to digest, absorb, and conserve for feeding animals. They are also easier to store and transport than other forms, contributing to the worldwide expansion of the Cattle Feed Market.
The market is divided into Poultry, Ruminants, Swine, Aquaculture, and Others based on livestock. Poultry feed is the food that farm chickens, ducks, geese, and other domestic birds consume. Poultry feed commonly contains whole maize, cottonseed cake, maize germ, soya beans, sunflower seeds, and fish meal. Grain, and protein supplements, including soybean oil meal, mineral supplements, and vitamin supplements, are all incorporated in current poultry feeds, driving market expansion and expanding the worldwide Cattle Feed Market.
Regional Analysis:
The cattle feed market is segmented globally into Europe, Asia-Pacific, North America, and the rest of the world. Because of its emphasis on animal health and expanding demand for organised dairy products, North America accounts for the biggest cow feed market share among these areas.
Asia-Pacific is predicted to post a substantial CAGR over the review period due to the steady transition of the unorganised dairy industry into the organised dairy sector. The expanding vegan population, rising demand for dairy products, more social media usage, and a rise in per capita income drive the expansion of the cow feed business.
Key Players:
The Key Cattle Feed Market Players include Land O’lakes Inc. (US) and BASF SE (Germany), Cargill Inc. (US), Nutreco N.V.(Netherlands), DSM N.V.(Netherlands), Charoen Pokphand Group (Thailand), New Hope Grou (UK), Archer Daniels Midland Company (US), Country Bird Holdings (South Africa), and others, are working on expanding the market demand by investing in research and development activities.
Recent Developments:
ADM will launch its new animal nutrition laboratory in Rolle, Switzerland, in November 2021, in the heart of the Swiss Food & Nutrition Valley. The new facility will aid in creating science-based feed additives to fulfil the demands of pet food, aquaculture, and livestock species worldwide.
De Heus Vietnam struck a strategic agreement with Masan in November 2021, following which De Heus gained ownership of 100% of MNS Feed's feed-related operations. MNS Feed's feed business includes thirteen animal feed mills with a combined production capacity of approximately 4 million tonnes, bolstering De Heus' position in Southeast Asia's largest cattle feed market.
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