Research Nester published a report titled “Cattle Feed & feed Additives Market: Global Demand Analysis & Opportunity Outlook 2029″ which delivers detailed overview of the global cattle feed & feed additives market in terms of market segmentation by ingredient type, additive type, application, and by region.
Further, for the in-depth analysis, the report encompasses the industry growth indicators, restraints, supply and demand risk, along with detailed discussion on current and future market trends that are associated with the growth of the market.
The global cattle feed & feed additives market is anticipated to garner a significant CAGR during the forecast period, i.e., 2021-2029, on the back of growing practice of livestock farming. The growth of the market is further estimated to be driven by the growing demand for cattle products, such as milk and beef, along with the rising concerns for several cattle diseases, such as Anthrax and Creutzfeldt-Jakob disease (CJD; also known as mad cow disease). The growing awareness regarding the health of the livestock owing to such diseases is therefore anticipated to generate numerous opportunities for the market growth during the forecast period. Moreover, the increasing global shift from unorganized cattle rearing to organized livestock farming is expected to boost the market growth significantly throughout the forecast period.
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On the basis of ingredients used, the market is segmented into oilseeds & grains, soybean meal, corn, wheat, and others, out of which, the soybean meal segment is estimated to hold a considerable market share by the end of 2021, owing to its large protein content which is essential for the health of the cattle. Based on application, the beef cattle segment is projected to generate considerable revenue throughout the forecast period on the back of growing demand for nutritious meat.
Regionally, the cattle feed & feed additive market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa region. Out of these, the market in Asia Pacific is anticipated to hold the largest market share by the end of 2029, on the back of large cattle population in growing economies such as India and China. The Press Information Bureau of India shared the statistics by the Department of Animal Husbandry & Dairying, which stated that there were 192.49 million cattle in the country, in the year 2019.
North American market is projected to hold significant share by the end of 2029, owing to the rising demand for good quality beef. Moreover, the rising production of beef in the region is projected to boost market growth. As per the U.S. Department of Agriculture (USDA), the total production of beef & veal in the region witnessed a considerable hike from 11,943 (‘000 metric tons) in 2017 to 12,384 (‘000 metric tons) in 2019.
Latin American market is also projected to hold a modest market share over the forecast period, on the back of high beef consumption. In the other data by USDA, total beef consumption of Brazil crossed 7.929 (‘000 metric tons) in 2019, making it one of the major consumers of beef, along with U.S. and China.
Growing Awareness for Cattle Health Likely to Boost Growth of the Cattle Feed & feed Additives Market
The growing demand for healthy and good quality cattle products has raised awareness for cattle health which is anticipated to be one of the major growth drivers for the market. Concerns for poor health and diseases among the livestock is estimated to highlight the significance of good quality and nutritional feed for the cattle, which, in turn, is estimated to boost the market growth throughout the forecast period. Moreover, the global change of livestock farming turning into an organized sector is anticipated to generate opportunities for major players to invest in the market, which is foreseen to promote the growth of the market.
However, large section of population choosing veganism along with strict government regulatory policies on standards of feed additives are the major factors expected to hamper the market growth.
This report also provides the existing competitive scenario of some of the key players of the global cattle feed & feed additives market which includes company profiling of Archer Daniels Midland Company (NYSE: ADM), Adisseo Group (SHA: 600299), Nutreco N.V., Land O’ Lakes, Inc., Cargill Incorporated, Phibro Animal Health Corporation (NASDAQ: PAHC), Evonik Industries AG (ETR: EVK), ADDCON GmbH, Koninklijke DSM N.V. (AMS: DSM), and Kemin Industries Inc.
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The profiling enfolds key information of the companies which encompasses business overview, products and services, key financials, and recent news and developments. On the whole, the report depicts detailed overview of the global cattle feed & feed additives market that will help industry consultants, equipment manufacturers, existing players searching for expansion opportunities, new players searching possibilities, and other stakeholders to align their market-centric strategies according to the ongoing and expected trends in the future.
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