Cattle Feed Market Future Profits to Reach New Heights with Industry Size Growth

The cattle feed market size was valued at $73.5 billion in 2019, and is projected to reach $78.3 billion by 2027, growing at a CAGR of 4.4 % from 2021 to 2027. Asia-Pacific dominated the cattle feed market analysis in 2019, accounting for nearly 42% of the total market share. The cattle feed market exhibits an incremental revenue opportunity of $4.7 billion from 2019 to 2027.

There is an increase in number of local market players in the cattle feed market owing to the ease of doing business facilities by many governments and also due to the increased demand for local feed from the livestock farmers worldwide. Innovative product offerings with various ingredients for specific target group such as beef, dairy, and calves increase regional demand for cattle feed.

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The cattle feed industry holds a substantial scope for the market growth. The market is currently in its maturity stage; however, its contribution to the global market is expected to increase significantly during the forecast period. Increase in demand for meat and meat products enforced the market to produce more meat and meat products made by various breeds of cattle. Growth of the global population and rise in per capita income boost the cattle feed market growth, thus increasing the production of beef. There is an increase in the demand for cattle feed with the rise in need of beef. Thus, the livestock operators are focusing on increasing the meat weight of cattle by feeding them specific feed. Change in consumer behavior in the meat and dairy segment and preference of consumers for various new types dairy items are expected to affect sales of animal feed in the coming years. Numerous players are entering the cattle feed market with innovative ideas and strategies. Emerging innovative feed types and feed produced by various healthy ingredients are expected to increase the market competition in the years to come.

Growth in population in developing countries, such as China and India, has increased the demand for dairy products and meat products. This increase in population, coupled with per capita income has increased the demand for meat and meat based products, further boosting the production of animal feed and cattle feed indirectly. In emerging countries, per capita income is more as compared to the developed countries and hence, adoption of various meat products and dairy products is eventually higher.

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On the basis of distribution channel, the market is divided into offline and online sales channels. Region wise, the market is segmented into North America (U.S., Canada, and Mexico), Europe (Germany, France, UK, Italy, and rest of Europe), Asia-Pacific (China, Japan, India, Australia, and rest of Asia-Pacific), and LAMEA (Brazil, Argentina, Africa, and rest of LAMEA). Asia-Pacific leads the global market, in terms of value, and is anticipated to continue to dominate its leading position throughout the forecast period. This is attributed to the highest population of cattle in India and surrounding countries.

The global market is fragmented with the presence of several market participants across various regions. The strong presence private label brands is giving tough competition to the global players. The key players operating in Global Cattle feed market include Archer Daniel Midland Company, BASF SE, Beijing Goke Agriculture Machinery Co., Ltd., Cargill, Inc., Charoen Pokphand Foods, J. R. Simplot Company, Kemin Industries, Land O' Lakes Inc., Nutreco NV, And Provita Eurotech Ltd.

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