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Liquid feed market Share, Growth, Analysis, Statistics, Trends 2017-2024
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CAFO, a leading government supported organization, has been focusing on the development of landless meat production facilities, a fact that is likely to lead to a surge in industrial meat production. Even in the U.S., most of the cattle producing firms have been using liquid and compound feed to enhance animal growth and meat quality. This is evident from the estimates – as per research, the U.S. cattle production industry size was worth USD 80 billion in 2016. The country also heavily fuels the demand for molasses, in fact, the U.S. liquid feed market from molasses is slated to cross USD 5.9 billion by 2024. Surging use of this product for dairy cattle and livestock pertaining to its economic benefits will fuel liquid feed industry size.
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The overall liquid feed market from molasses will surpass a revenue collection of USD 25 billion by 2024. This ingredient, being one of the cheapest energy supplements, has garnered a widespread consumer base. Molasses, which consist of urea, rumen, salt protein meals, and phosphorous, is easily available in ample quantities, which will be one of the main driving forces for the growth of this segment. A Liquid Feed Market report by Global Market Insights, Inc., states that this industry will surpass a revenue collection of USD 90 billion by the end of 2024.
These organic minerals when fed to the livestock, helps in improving the overall health of the animal and helps in making meat more nutritious. High product consumption in ruminants has stimulated animal feed organic trace minerals market to chart a lucrative growth in the coming years, as ruminant’s account for a chunk of the overall industry share. The poultry market is also witnessing heavy demand, owing to increasing domestic meat consumption, particularly in Vietnam Japan, Cuba, South Africa, UAE and Saudi Arabia. The global animal feed organic trace minerals market from poultry is set to register a CAGR of 7% over the period of 2016-2024.
This industry is administered by several regulatory bodies with strict standards pertaining to the product usage. The minerals and micronutrient elements used in livestock fodder compulsorily needs to undergo a stringent approval standard & process test set by the EU, FDA, and EFSA. U.S. has witnessed a substantial rise in animal feed organic trace minerals market, owing to such strict environmental regulations imposed by the governments.
Prominent animal feed organic trace minerals industry players include ADM, Royal DSM, Novus International Pancosma, Biochem, Tanke Biosciences Corp., QualiTech Corp, and Kemin Industries Limited.
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