Market Overview:
The cattle feed market is witnessing a surge in the business opportunity as the demand for animal products is rising high. The surge is linked interminably with the change in lifestyle. Dairy products and meat products are shaping the consumption pattern of the commons in many ways which require a better understanding of the nutrients for the well-being of all. Hence, the need for products that can act like perfect dietary plans. Various additives are getting amply supplied to the animal feed manufacturers for a better production that can sufficiently back the demand generated by fast-tracked urbanization. The global cattle feed market is expecting outstanding growth during the forecast period (2017-2023). Market Research Future (MRFR) recently published a report that, while claiming such a rise in the market, integrated segmental analysis and drivers that can significantly impact the market in the foreseeable future.
Among the major factors, demand for hygienic products and feed enriched with valuable nutrients are playing pivotal roles in shaping the cattle feed market. Animal feed is directly linked with human health. Hence, the governments, across the globe, try to maintain stringent laws that can sieve the products at the inception. This is also providing scope to the manufacturers to come up with innovative products which would comply with the government policies yet would outperform the rival products. Various countries are also investing substantially for research and development to get better results. Bakery and beverage sectors are also generating substantial traction for the cattle feed market.
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Segmentation:
The global cattle feed market, for a better grip over the future market, can be segmented by feed ingredients, application, and additive.
Based on the feed ingredients, the cattle feed market can be segmented into corn, soybean meal, wheat, oilseeds, and others. Corn accounts for the maximum amount of market share and the forecast period would not see any change in the scenario.
Based on the application, the cattle feed market comprises dairy, beef, calf, swine, and others. Dairy has the maximum market share under its purview.
Based on the additive, the cattle feed market consists vitamins, minerals, amino acids, feed antibiotics, feed acidifiers, feed enzymes, antioxidants, and others.
Regional Analysis:
For a detailed region-specific analysis of the global cattle feed market, the report includes namely North America, Europe, Asia Pacific (APAC), and Rest-of-the-World (RoW).
North America, at present, is helming the market and is expected to do so in the coming years. The global supremacy of the regional market can be attributed to the presence of several market behemoths who indulge in strategic decisions to promote the market further. The region spends substantially on research and development and aided by technological brilliance; the region is registering tremendous growth.
Europe’s market can be a decisive one for the growth of the organically produced cattle feed as the region follows serious laws to lessen the impact of harmful chemicals in the manufacturing process. The APAC market is about to witness an unprecedented rise owing to the presence of countries such as China and India. These two countries, with their huge population, are emerging as alluring destinations for market expansion.
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Competitive Landscape:
The key players profiled in the cattle feed market are Archer Daniels Midland Company (U.S.), BASF SE (Germany), Cargill, Incorporated (U.S.), Royal DSM N.V. (Netherlands), Nutreco N.V. (Netherlands), Charoen Pokphand Group (Thailand), Land O’lakes Inc. (U.S.), and others.
In 2018, India emerged as substantial cattle feed industrial space, and that can be determined from the surge in the use of corn and soybean intake as cattle feed. The country can start importing corn which can be a huge boost for the regional cattle feed market.
In 2018, Leiber, a Germany-based yeast company, announced their marketing strategy for brewer’s yeast for animals and non-grain sourced fibers that can be drawn from plants. The same year will also see Palital launching Rumen-Ready that can stimulate rumen re-development in dairy cows.
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