Cattle Feed Market Size worth USD 78.3 Billion Globally, by 2027 at a CAGR of 4.4%

Cattle feed market size was estimated at $73.5 billion in 2019, and is expected to hit $78.3 billion by 2027, and registering with a CAGR of 4.4% from 2021 to 2027.

Replacement of traditional cattle feed with nutritionally balanced compound feed and livestock industrialization drive the growth of the global cattle feed market. On the other hand, challenges related to the gap between demand and supply of cattle feed act as an impeding factor to the market growth. However, nutrigenomics applications and prospects in livestock is expected to create lucrative opportunities for the key players in the industry.

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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.

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.

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The cattle feed market is segmented on the basis of cattle type, distribution channel, and region. By cattle type, it is categorized into beef and dairy. The dairy segment was the highest contributor to the market, with $41,599.1 million in 2019, and is estimated to reach $45,305.8 million by 2027, at a CAGR of 4.6% during the forecast period. The beef segment is estimated to reach $33,077.6 million by 2027 at a CAGR of 4.0%. The fastest growth of dairy segment is attributed by the increase in demand for specific feed made for dairy cattle from dairy cattle farmers.

Based on region, Asia-Pacific, followed by North America, held the major share in 2019, garnering more than two-fifths of the global cattle feed market. Food and feed systems in the Asia-Pacific region are changing rapidly in terms of supply and demand dimensions owing to the economic growth, structural transformation, emerging technologies, and urbanization. However, the LAMEA region is expected to manifest the fastest CAGR of 5.3% from 2020 to 2027. The presence of vast areas supporting favorable climate pattern and rational use of inputs, including grains (corn, soybean) and fertilizers, have offered an ability to regions such as Brazil, Argentina, and Africa to be the major livestock producers in the LAMEA region. This in turn augment the growth of market in this region.

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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.

Frontrunners in the cattle feed industry-

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
Provita Eurotech Ltd.

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